real assets

Saudi SOE Partners with Bunge to Buy Stake in Canadian Grain Handler

Saudi Arabia and its neighbors in the Gulf heavily rely on imported food. 80% to 90% of their food is imported. The kingdom’s neighbor, Qatar Investment Authority (QIA), created a unit to invest in farmland and other food opportunities called Hassad Food. Saudi Arabia has done the same. In 2011, late Saudi King Abdullah formed [...]


ADIA Sells Shares in Deutsche Annington

Back in December 2014, Deutsche Annington Immobilien SE, a German real estate apartment company, announced its intentions to buyout all of Luxembourg-based realty company GAGFAH S.A. The combination of Deutsche Annington and GAGFAH creates a company that has a portfolio of 350,000 residential units, with a total portfolio value of €21 billion. Sovereign Wealth Investment [...]


Sovereign Wealth Fund Increases Ownership in ILFS

The U.S. Department of Agriculture put out a projection for 2030, contending that India will go up in rankings and be crowned the third largest economy in the world behind China and the United States. India Prime Minister Narendra Modi was voted into power in 2014. After the widely-viewed election, billions worth of dollars of [...]


Leo de Bever

Norway’s Sovereign Fund Contemplates Infrastructure Allocation, Boosting Real Estate

The Norwegian Ministry of Finance is moving forward on assessing whether the sovereign wealth fund should boost allocation over its 5% cap in real estate and begin to invest in unlisted infrastructure. Norway’s Government Pension Fund Global (GPFG) made headways investing in properties in cities such as London, New York and Boston. The sovereign fund, [...]


superannuation

3 Large Sovereign Fund Cross-Border Bids Shaping the Industry

Bidders are quietly lining up as Australia’s New South Wales (NSW) government pushes forward on a plan selling leases on select infrastructure. NSW Premier Michael “Mike” Baird won a late March election, giving him a mandate to move forward with the lease sales. Essentially, the state government seeks to lease A$ 20 billion worth of [...]


infrastructure

APG and CalSTRS Form Infrastructure Alliance, Brings Argo Infrastructure

Dutch-based manager APG Asset Management NV, owned by Stichting Pensioenfonds ABP, and California State Teachers’ Retirement System (CalSTRS) formed an infrastructure investment alliance – a popular trend among giants. These alliances are becoming more commonplace as asset owners and other institutional investors are teaming up identify suitable investments, compete for bigger deals and share risk [...]


Past 12 Months in Direct RE, Sovereign Funds Spent Over $35 Billion

Increasingly, sovereign wealth funds and pensions are making more direct investments, especially in real estate and infrastructure. Instead of simply handing money to managers, wealth funds are forming strategic partnerships with commercial developers, banks, life insurers and other pools of capital. According to SWFI’s Sovereign Wealth Fund Transaction Database, sovereign funds directly invested over US$ [...]


Lend Lease and Big SWF Win Bid for Singapore Redevelopment

Property and development giant Lend Lease is expanding its presence in Singapore in which the company’s CEO Steve McCann views as a key growth market for large-scale urban regeneration projects. Lend Lease and its sovereign wealth fund partner are acquiring a land parcel Paya Lebar Central development site in Singapore for S$ 1.6 billion. However, [...]


CPPIB and Hermes Buy Stake in Associated British Ports

Large institutional investors such as sovereign funds and pensions are attracted to long-term predictable inflation-linked cash flows, with resilient cash yield. The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure, a unit of Hermes Investment Management, beat out sovereign wealth funds in their joint bid to invest approximately £1.6 billion to acquire a stake [...]


Tank & Rast Draws Pensions and Sovereign Funds

Autobahn Tank & Rast GmbH, a German motorway service station group, is attracting bidders such as large pensions, insurance companies and sovereign wealth funds. Some interested institutional investors include Abu Dhabi Investment Authority (ADIA), Singapore’s GIC and Borealis, the infrastructure arm of OMERS. Bonn-based Tank & Rast operates around 390 service stations and 350 gas [...]


Kuwait Investment Authority Buys Remaining Share of Sudan Hotel Investment

Sudan, once known as the bread basket of the Arab world, is keen on promoting its fledgling tourism industry, despite current sanctions by the United States. On March 26, 2015, the Kuwait Investment Authority (KIA) signed a deal to acquire full ownership in a Sudan real estate company. [ Content protected for Sovereign Wealth Fund [...]


GIC Goodman Joint Venture Acquire Wynyard Office Building

Wynyard Precinct Holdings, the joint venture unit created by Singapore’s GIC Private Limited and Goodman Property Trust, bought an office tower from Flecther Building Ltd., a subsidiary of Fletcher Construction, for NZ$ 86.2 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Sovereign Wealth Fund Invests in Google DC Property

Norges Bank Investment Management (NBIM), the manager of Norway’s massive sovereign wealth fund, invested with TIAA-CREF in a Washington D.C. office property. The deal values the property at US$ 307 million. NBIM bought a 49.9% stake in the building which touts Google as a key tenant for US$ 60.8 million. The property asset is encumbered [...]


london

British Land and GIC Form Broadgate REIT

British Land and Singapore sovereign wealth fund GIC have formed Broadgate REIT Limited as the new holding company for their joint venture. The entity formation does not modify any party’s economic interest in Broadgate, a massive office and retail complex at the core of the City of London. British Land and GIC are 50:50 owners [...]


Exeter Property Group and GIC Form European Logistics Partnership

Singapore’s GIC Private Limited, one of the country’s sovereign wealth funds, entered into a partnership with Exeter Property Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


superannuation

Future Fund Promotes Wendy Norris to be Head of Infrastructure and Timberland

Australia’s Future Fund has appointed Wendy Norris to be head of infrastructure and timberland. She will assume command of the Future Fund’s A$ 8 billion infrastructure and timberland portfolio. Norris was a director in the sovereign wealth fund’s infrastructure and timberland team since 2010. Norris fills Raphael Arndt’s position who was promoted to chief investment [...]


China Sovereign Wealth Fund’s Second Take on Italian Infrastructure

The China Investment Corporation (CIC) is taking a second look in possibly investing in a fund managed by Il Fondo Italiano per le Infrastrutture (F2i). F2i is looking to raise a second infrastructure fund, hoping to attract more foreign institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


blackstone

Sovereign Wealth Centers on Tourism – Center Parcs

Sovereign wealth funds from Singapore and Abu Dhabi are potential institutional investor bidders looking at UK holiday village manager Center Parcs. Center Parcs UK Group Plc was bought by private equity giant Blackstone Group back in March 2006 for £205.4 million (US$ 357 million). Blackstone bought Center Parcs in a moment of distress as the [...]


Group Led by Borealis Infrastructure Wins, Acquires Fortum Distribution AB

An investment group led by Borealis Infrastructure Management Inc., the infrastructure arm of OMERS, signed a deal on March 13, 2015 to buy 100% of the shares of Fortum Distribution AB, which operates and owns Fortum’s electricity distribution business in Sweden. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


AustralianSuper Buys Stake in Biggest Open-Air Mall

Arising from Chapter 11 bankruptcy nearly five years ago, General Growth Properties Inc., a major player in the realm of mall asset management, sold a 25% interest in Honolulu’s Ala Moana Center for US$ 1.37 billion to AustralianSuper, a massive superannuation institutional investor. The deal values Ala Moana Center at approximately US$ 5.5 billion. General [...]