Alternatives

Apple Crushes Earnings, Sovereign Funds Look to Xiaomi

Apple, the maker of many I-things, like the iPad, iPhone and iPod, delivered strong earnings. Apple’s revenue topped at US$ 74.6 billion and US$ 3.06 in earnings per share. 74.5 million iPhones were sold, up 46% compared to the previous year. Equity research analysts expected only 65 million iPhones to be sold. iPhone revenue was [...]


See Why Singapore’s Sovereign Fund Had a Busy Week

The Singapore sovereign wealth fund GIC Private Limited is involved in investing directly all across the world. Starting in Australia, the sovereign fund redeemed exchangeable securities in Australia-based The GPT Group, a diversified listed property group, for A$ 325 million, plus a non-underwritten A$ 50 million security acquisition plan. Selling Shares of Luye Pharma On [...]


Are You Allocated to a Private Equity Firm Ranked in this Study?

Since 2009, Professor Oliver Gottschalg of Paris-based HEC Business School, also known as école des Hautes Etudes Commerciales de Paris, has put out an annual ranking on top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking illustrates private equity firms’ historic performance and expected “future competitiveness” based on a number of criteria. [...]


China’s State Council Looks to Form $6.5 Billion State Venture Capital Fund

The government of China is looking to create a government venture capital fund which may be capitalized at 40 billion yuan (US$ 6.5 billion). China is trying to maintain its relatively high economic growth rate and migrate toward medium to higher areas of manufacturing and services. The venture capital fund would be funded by existing [...]


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Former Facebook Veteran Leads Sovereign Wealth Backed Venture Capital

Asian sovereign wealth funds are becoming larger players in Silicon Valley, as sovereign wealth centers on popular technologies such as cloud computing and the share economy. Temasek Holdings (through a sovereign wealth enterprise), Khazanah Nasional and Singapore’s GIC Private Limited, all have offices in the San Francisco Bay Area. With sovereign wealth capital funding U.S. [...]


Large Pension Funds Slowly Begin to Dump Hedge Funds

A growing number of large public pensions are beginning to shun hedge funds. This trend gained steam in 2014. From equity-focused hedge funds levying high fees, only to fumble a historic rally in stocks – a number of hedge funds are facing permanent redemptions from public funds. Board members of the US$ 17 billion San [...]


India deals

KKR and Singapore Sovereign Fund Form Indian RE Lending Platform

Singapore’s GIC Private Limited and private equity giant KKR have formed a non-banking financial company to provide loan capital for the growing real estate sector in India. This entity will be a lending platform utilizing structured credit. Since the inauguration of Indian Prime Minister Narendra Modi, institutional investor capital from sovereign wealth funds, pensions and [...]


Major Secondary Deal: Ardian Buys $1.75 Billion PennPSERS PE Portfolio

The US$ 52 billion Pennsylvania Public School Employees’ Retirement System (PennPSERS) has sold a US$ 1.75 billion portfolio of limited private equity fund interests to Ardian. The portfolio contains 17 limited partner interests. This secondary private equity deal is one of the largest in 2014. Ardian, formerly AXA Private Equity, is an independent private equity [...]


Friday SWFI News Roundup, December 26, 2014

Pension Protection Fund Allocated $400 Million to Energy PE Funds More pension funds are committing to energy private equity funds. London-based Pension Protection Fund has given mandates to three private equity managers to run energy plays. The £16 billion pension fund allocated up to US$ 400 million to be divided among, EV Energy Partners (EnerVest), [...]


First Xiaomi, Could Snapchat Be Next for Sovereign Wealth Funds?

Institutional investors are plowing money into mobile startups, eager to gain exposure in a growing world population becoming heavily reliant on mobile devices. China smartphone manufacturer Xiaomi raised just over US$ 1 billion in capital from investors that include, Hopu Investment Management Co., Singapore’s GIC Private Limited, Russian investment firm DST Global and Yunfeng Capital [...]


Why Financier Wilbur Ross Loves Ireland

Turnaround financier Wilbur Ross, Jr., through WL Ross & Co., in June 2014 sold its remaining shares in the Bank of Ireland Plc. WL Ross & Co., Toronto-based Fairfax Financial Holdings Ltd., and three unnamed investors invested €1.1 billion, essentially 10 cents per share, for a 34.9% stake in Bank of Ireland back in 2011. [...]


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Sovereign Wealth Funds Back Disruptive Venture Capital Investments

Revealed recently was Qatar Investment Authority’s (QIA) investment in San Francisco-based Uber, an app-based transportation network and taxi company. Joining the QIA as investors were venture capital firms and Chinese search engine Baidu. Uber was formed in 2009 by Travis Kalanick and Garrett Camp. In another venture capital play, the gulf-based sovereign wealth fund has [...]


Why Sovereign Wealth Funds Need Private Equity

According to the Sovereign Wealth Fund Institute (SWFI), direct sovereign wealth fund transactions from the 3rd Quarter of 2014 back 12 months, totaled US$ 203.61 billion. This is an unprecedented amount of sovereign wealth capital flowing toward direct investing in assets and companies. With that being said, sovereign wealth funds are constantly on the prowl, [...]


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Alaska Sovereign Fund Allocates Big to Dyal Capital and American Homes 4 Rent

The Alaska Permanent Fund Corporation (APFC) announced some new commitments after a December board meeting. The APFC committed US$ 200 million to American Homes 4 Rent II, LLC, a real estate vehicle that acquires pools of vacant single-family residences and manages them as rental properties. The maximum term of American Homes 4 Rent II, LLC [...]


Uber Raises Money, Didi Dache Gets a Turn

Singapore’s Temasek Holdings has invested in a taxi-hailing app. Last week, SWFI confirmed that Qatar Investment Authority (QIA) invested in Uber. SoftBank invested US$ 250 million in Uber rival Malaysia-based GrabTaxi. Along with other investors, Temasek, Russian investment firm DST Global and Tencent Holdings invested a total of US$ 700 million in Didi Dache’s Series [...]


New Zealand Superannuation Fund Invests in Company That Uses Gas-Eating Microbes

Increasingly, sovereign wealth funds are partaking in growth and expansion investments. The New Zealand Superannuation Fund (NZSF) has invested US$ 60 million in equity in Skokie-based LanzaTech, a gas fermentation company. The company was founded in New Zealand in 2005 with just one employee. The company migrated its headquarters to the United States. LanzaTech converts [...]


BREAKING – Qatar Sovereign Wealth Fund Backs Uber

The Wall Street Journal has reported that Uber raised a US$ 1.2 billion round of capital, giving the startup a valuation of US$ 41 billion. Uber has been posting hundreds of millions of dollars in revenue per annum. On January 7, an SWFI article was posted called, “Uber Could Use Sovereign Wealth Fund Money,” explaining, [...]


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Activist Hedge Funds Pick on BNY Mellon

BNY Mellon has capitulated and awarded a board seat to activist hedge fund Trian Fund Management LP. The bank wants to avoid, what could be a long, drawn out proxy battle with the hedge fund. As of September 30, 2014, according to SEC data, Trian owns a 2.57% stake in BNY Mellon. To accommodate the [...]


Korea’s Woori Bank Fails to Sell, GIC and Affinity Withdraw

Singapore’s sovereign wealth fund GIC Private Limited and private equity firm Affinity Equity Partners are withdrawing their joint bid for Seoul-based Woori Bank. This is the fourth time the state-run Korea Deposit Insurance Corporation (KDIC), Woori’s major shareholder, has been trying to sell a controlling stake in the bank. [ Content protected for Sovereign Wealth [...]


Friday SWFI News Roundup, November 28, 2014

Khazanah Eyes Spanish Infrastructure Malaysian sovereign wealth fund Khazanah Nasional is in talks to acquire a company, 50% owned by Spanish construction group Fomento de Construcciones y Contratas (FCC) and 50% owned by Bankia, a nationalized Spanish savings bank. The joint venture company is Madrid-based Globalvia Infraestructuras S.A. Nice Hedge Fund: Tepper Gives Money Back [...]