Alternatives

Sovereign Wealth Money in Latest Airbnb Round

Sovereign wealth funds are not afraid of investing in billion-dollar startups. Venture capital insiders call some of these startups unicorns – essentially when a startup has exceeded an arbitrary equity valuation amount of US$ 1 billion through capital raises. Sovereign funds have allocated to startups such as Flipkart, VANCL, Square, Spotify and – yes, taxi [...]


Temasek and CVC Capital Partners Acquire Majority Stake in Alvogen

Singapore’s Temasek Holdings and private equity giant CVC Capital Partners are purchasing a controlling interest in New Jersey-based Alvogen, a generic drugs pharmaceutical company. The transaction values Alvogen at US$ 2 billion. Increasingly, institutional investors are spending more capital on healthcare company, specifically pharmaceutical companies. In Portuguese, alvo means target or goal. Subscribers Only: December [...]


factor investing growth

BETTING ON GREEN: UC Endowment Drops $500 Million for Clean-Tech

Institutional investors are teaming up to form a non-profit intermediary to source commercial deals in the world of climate change and impact investing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Regiment Capital Advisors Struggles to Maintain AUM, Lone SWF Client

Founded in 1999, Boston-based Regiment Capital Advisors, LP has hired Boston-based Berkshire Capital to help with the sale of its unit that focuses on collateralized loan obligations (CLO). One of the firm’s partners who worked as a CLO structurer, Brooke Carroll, is leaving the company on June 30. Earlier, the fund’s chief financial officer Christopher [...]


Temasek to Buy Stake in Policybazaar from Intel Capital

Singapore’s Temasek Holdings is nearing a deal to get an 8% interest in Policybazaar.com from Intel Capital, the venture capital arm of Intel Corporation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, June 12, 2015

NBIM Plans to Open Tokyo Office Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to open an office in Tokyo. This is in anticipation of the wealth fund participating in real estate deals in Asia. Currently, NBIM is recruiting and building a team for the proposed Tokyo office. This would [...]


Mark Wiseman

Disintermediation: CPPIB to Buy Antares Capital from GE

Canada Pension Plan Investment Board (CPPIB) made it official today, through CPPIB Credit Investments Inc., of a signed agreement with GE Capital to acquire 100% of GE’s U.S. sponsor lending portfolio, Chicago-based Antares Capital, alongside Antares management for a total consideration of US$ 12 billion. Antares Capital is the largest lender to middle-market private equity [...]


Temasek Seeks to Buy Stake in PE-Backed Chemicals Distributor

Singapore’s Temasek Holdings plans to invest up to US$ 500 million in one of North America’s biggest chemicals distributor. The company is Illinois-based Univar Inc., which is valued at US$ 6 billion including debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA’s Private Equity Head Steps Down

The Abu Dhabi Investment Authority (ADIA) began investing in private equity in 1989. ADIA invests in both externally managed funds and direct investments.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – June 1, 2015

APFC Executive Director Mike Burns to Retire Mike Burns, Executive Director of the Alaska Permanent Fund Corporation (APFC), retired Monday over health concerns. Burns started at APFC in August 2004. Valerie Mertz is acting executive director/CEO. Mertz is chief financial officer of the APFC. APFC’s board of trustees is considering appointing an interim CEO. “We [...]


Bidders Line Up for Antares Captial, GE Private Equity Lending

On May 28th, Canada Pension Plan Investment Board (CPPIB) and Ares Management submitted bids for General Electric’s U.S. private equity sponsor business. This is all part of GE’s massive restructuring plan. GE Capital remains the largest lender in the private equity U.S. middle-market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


APFC Hires 2 Private Market Consultants

The Alaska Permanent Fund Corporation (APFC) is expanding allocation to private market assets and investments under its special opportunities bucket. The sovereign wealth fund hired San Diego-based TorreyCove Capital Partners and LP Capital Advisors as consultants for private market and special opportunity investments. These specialty consultants won the RFP that was issued in March by [...]


Opportunity Cost Model

Your Student Loan Could Be Backed by Sovereign Funds

The search for yield in an environment of low interest rates are pushing institutional investors such as U.S. pensions and wealth funds indirectly into the U.S. student loan market. These public investors have allocated swaths of capital to alternative investment firms like Apollo Global Management LLC through credit-related investment mandates. For credit managers seeking yield, [...]


Friday SWFI News Roundup, May 22, 2015

Wealth Fund Commits to Mezzanine Fund The Alaska Permanent Corporation (APFC) allocated US$ 50 million to Audax Mezzanine Fund IV, an alternative credit fund. The sovereign fund has a 2.5% allocation to private credit. AIIB to Allow Non-Asian Countries to Bank’s Board The Asian Infrastructure Investment Bank (AIIB) will have a director from Germany on [...]


New Mexico SIC’s Appetite for Agriculture Grows

On a global basis, direct farmland investing has lured institutional investors on possible diversification and inflation protection benefits. Meanwhile, the world’s population continues to expand and consumption of protein foods has rapidly grown in the past fifty years. According to United Nation figures, the world’s population is currently adding 25 million people per annum – [...]


australia infrastructure

Australia’s Future Fund Acquires €705 Portfolio from Hayfin Capital

Australia’s Future Fund is acquiring a portfolio of assets from Hayfin Capital Management LLP, a specialty commercial lender focused on Europe. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Wealth Funds Back Irish Mezzanine Fund

The China Investment Corporation (CIC), a massive sovereign wealth fund, is seeking yield on the Emerald Isle – partnering with on-the-ground private equity real estate experts and government institutional funds. The CIC is investing in a commercial property debt fund being co-managed by private equity firm WL Ross & Co. and Dublin-based Cardinal Capital Group. [...]


private equity

REPEAT: Alaska Permanent Fund Takes Stake in Denali Therapeutics

Institutional investors are plunging billions into emerging, pre-IPO biotechnology companies. San Francisco-based Denali Therapeutics, a new biotechnology company that is focused on developing effective therapies for neurodegenerative diseases, such as Alzheimer’s, ALS, and Parkinson’s, raised a Series A round of US$ 217 million from investors. Some of the founders of Denali Therapeutics are former Genentech [...]


Oman’s SGRF to Help Finance Spanish Firms

Oman’s State General Reserve Fund (SGRF) is allocating some capital to earn yield on Spanish businesses looking to go abroad. The SGRF and Compañía Española de Financiación del Desarrollo (COFIDES), a partly state-owned firm founded in 1988, are creating a joint investment fund. Shareholders of COFIDES include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander [...]


Friday SWFI News Roundup, April 24, 2015

Qatar Sovereign Wealth Capital Backs North African Resorts Bangkok-based Minor Group is working with Qatari Diar Real Estate Investment Company, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), to construct two new resorts in North Africa. The resorts will be Anantara resorts. One of the resorts, Anantara Tozeur Resort, will be based in [...]