United Kingdom

Japan’s GPIF Preps for Real Estate Push

It is practically inevitable that cash-rich Japanese pensions and asset owners will participate in overseas real estate. Already, Japan Post Bank formed an institutional real estate division. Japan’s Government Pension Investment Fund (GPIF) is cautiously gathering information and building networks before they embark on investing in overseas institutional real estate.[ Content protected for Sovereign Wealth […]


BlackRock Overtakes UK Gov as Top Shareholder in Lloyds

Asset manager giant BlackRock is now the largest shareholder in Lloyds Banking Group, overtaking the U.K. government. The U.K treasury, through UK Financial Investments, maintains a 5.95% ownership share in Lloyds Banking Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


NZSF and TDC Pension Required to Move Espirito Santo Lawsuit to Portugal

The New Zealand Superannuation Fund (NZSF), along with other institutional investors, will have to take their legal action regarding a failed Portuguese bank, Banco Espírito Santo, in Portugal rather than in the United Kingdom. Banco Espírito Santo collapsed in 2014 and was bailed out by the country’s central bank, Banco de Portugal. To get the […]


OTPP and USS Buy U.K. Crematoria Developer and Operator

The business of death in the United Kingdom appears to possess characteristics such as a resilient operating model (death is certain for all humans) and stable revenue generation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Legal & General and PGGM JV Gets Council Approval for Walthamstow Development

Dutch giant investor PGGM and LGIM Real Assets, part of Legal & General Investment Management, had formed a joint venture with the purpose of a build-to-rent, United Kingdom private-rented sector strategy, targeting to commit £600 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


DATA: Sovereign Funds Slowed UK Direct Investments Before Brexit Vote

There was a significant reduction in direct investments in England by sovereign wealth funds prior to the Brexit vote. Post-Brexit, the United Kingdom experienced a bump in sizable deals in September 2016 by sovereign funds and foreign pensions. One such deal was Singapore’s GIC Private Limited partnering with student accommodation company GSA to buy a […]


SWFI First Read, September 11, 2016

Egypt Gets First US$ 1 Billion Tranche from World Bank The Egyptian government has received the first US$ 1 billion tranche of a US$ 3 billion policy finance loan from the World Bank. It is a 3-year loan. Egypt has been plagued with a faltering foreign exchange shortage. The program for the loan is called […]


Sovereign Funds Maintain Resilient Pose in European Deals

Sovereign wealth funds are not dialing back from large European deals whether in Germany, the United Kingdom or even Southern Europe. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, August 4, 2016

Fiji National Provident Fund Commits to IFC Emerging Asia Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 19, 2016

Qatar Airways Increases Stake in British Airways Parent Company Qatar Airways increased its stake in International Consolidated Airlines Group SA, the parent company of British Airways, to 15.01%. Qatar Airways in 2015 became the largest shareholder in International Consolidated Airlines Group. Under European Union regulations, foreign investors are limited to holding no more than 49% […]


Possible Rough Road for Invesco Perpetual

Gulf institutional investors such as sovereign wealth funds have pulled back as more asset allocators demand lower fees and begin flowing more investments into smart beta products. Invesco Perpetual, part of the Invesco empire, is one of the largest investment managers in the United Kingdom, with strong ties to the retail investment space. The firm […]


GIC Takes Lender Role in UK ex-London Property Financings

Singapore’s GIC Private Limited has an extensive internal lending portfolio. Large wealth funds and pensions often lend money as financial intermediaries directly to earn high yield on fixed income allocations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, October 13, 2015

Norway’s SWF Gets Closer on Asia Square Tower in Singapore An investor group consisting of Norway’s Government Pension Fund Global (GPFG) and Singapore’s biggest developer CapitaLand Ltd. were selected as the preferred bidder for a Singapore office tower called Asia Square Tower 1. BlackRock is the seller. Other bidders include ARA Asset Management Ltd. The […]


British Airways Qatar

SAFE Targets European Airports

Gingko Tree is a sovereign wealth enterprise (SWE) of China’s SAFE Investment Company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, September 4, 2015

Texas Teachers Goes to London The Teacher Retirement System of Texas, a pioneer for U.S. pension funds, is opening up an office in London. The pension fund is looking into more European deals and opportunities. The office will be headed by Vaughn Brock who is the pension fund’s director of special projects. Sovereign Fund and […]


Angel Trains Has New Owners

Institutional investors are attracted to long-term contractual businesses that permit a high degree of income stability and visibility. Angel Trains has been sold to an investor group led by AMP Capital in a complicated transaction. AMP Capital through its managed funds already had a 25% stake in Angel Trains. [ Content protected for Sovereign Wealth […]


Friday SWFI News Roundup, August 7, 2015

GIC Possible Assist in Worldpay Bid Private equity giants Blackstone Group and Hellman & Friedman are teaming up to acquire U.K.-based Worldpay, a payments processing company that is trying to float £6 billion onto the London stock exchange. The private equity group may include Singapore’s GIC Private Limited to have additional financial firepower in the […]


NBIM Completes Logistic Portfolio Purchase from Prologis

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, acquired a 50% stake in a logistics portfolio through their joint venture with Prologis. The seller was Prologis who owned 100% of the portfolio. The portfolio is comprised of eight properties located in the United Kingdom, Poland and France with a total volume […]


Deep Dive with Dag Detter, Co-Author of The Public Wealth of Nations

What if I were to tell you that there is a way to meet America’s infrastructure needs and have more efficiently run state assets without having to raise taxes, privatize government assets, or shutter important public goods? The authors of “The Public Wealth of Nations,” give a fresh perspective and blueprint on how governments, both […]


london real estate

OMERS Buys Stake in Environmental Resources Management

The Ontario Municipal Employees’ Retirement System (OMERS), through its private equity arm, has agreed to acquire a big stake in risk consulting firm Environmental Resources Management from private equity firm London-based Charterhouse Capital Partners LLP. The transaction values Environmental Resources Management at US$ 1.7 billion including debt. Alberta Investment Management Co. (AIMCo) plans to invest […]