Friday SWFI News Roundup, November 27, 2015

Japan Post to Form Private Equity Unit, Shimizu to Lead The partially privatized Japan Post Bank plans on forming a new investment unit dedicated to private equity on December 1, 2015. Japan Post Bank manages almost ¥204 trillion (US$ 1.7 trillion), mostly in Japanese government bonds. Tokihiko Shimizu was recently hired by Japan Post Bank [...]

About Face for UBS Asset Management

Increasingly, the concept of traditional asset classes and products are converging, as large institutional investors utilize other means such as risk factors to classify exposures. The Swiss banking giant has rejigged its asset management division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Chasing Alpha

From CIO to CIO – the message is the same. There will be more volatility and extended periods of lackluster returns. Dropping hedge funds months back, the California Public Employees’ Retirement System (CalPERS) will eventually (don’t know how long) move its discount rate from 7.5% to 6.5%. Smart beta, otherwise called factor-based investing, can assist [...]

Sovereign Funds Get Exposure to Old CalPERS Real Estate Funds

The California Public Employees’ Retirement System (CalPERS) recently sold a US$ 3 billion portfolio of 43 real estate fund stakes to the Blackstone Group. As CalPERS begins consolidating real estate and private equity managers, secondary firms are scooping up interests. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]

BlackRock NY

FAIL: BlackRock Closes Global Macro Fund

Another casualty has been recorded in the global macro fund industry. Other asset manager giants have shuttered funds this year including Bain Capital and Fortress Investment Group, LLC. The world’s largest asset manager is shuttering its global macro fund after lackluster investment performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


As Blackstone Grows, Real Risk Expands

From humble beginnings in the 1980s, The Blackstone Group has gradually transformed itself into an alternatives powerhouse. Unlike other listed private equity companies, Blackstone has expanded significantly after its initial public offering (IPO). Blackstone is not only well known for being a major private equity player, but also an influential real estate buyer. Recent transactions [...]

Kuwait Sovereign Fund Realigns Tech Portfolio

  National Technology Enterprises Company (NTEC) is a sovereign wealth enterprise (SWE) of the Kuwait Investment Authority (KIA) that was formed in November 2002 and operational by late 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

london real estate

ADIA Looks to Shutter London Office

The Abu Dhabi Investment Authority (ADIA) has initiated plans to shutter its London office. The massive sovereign wealth fund has stakes in UK infrastructure such as an airport, Angel Trains and Thames Water. ADIA’s location in Knightsbridge, Central London will affect less than 20 jobs. The decision to close the office as due to ADIA [...]

SWFI First Read, November 3, 2015

Mubadala and Temasek Postpone Dunia Finance Sales Abu Dhabi-based Mubadala Development Co. and Singapore’s Temasek Holdings planned sale of Dunia Finance LLC has stalled. A number of interested parties have withdrawn from bidding and the sellers did not get the right price that they wanted. Morgan Stanley was hired by the sellers to run the [...]

sovereign wealth fund pumpkin

Friday SWFI News Roundup, October 30, 2015

Oman’s SGRF Hires Freshfields to Take on Bulgarian Government Over Balkan Bank Oman’s State General Reserve Fund (SGRF) hired Freshfields Bruckhaus Deringer for legal representation to arbitrate the government of Bulgaria over its role in the fall of Balkan bank KTB. Representing the Bulgarian government is law firm Arnold & Porter. The arbitration claim has [...]

investment gurus

Latest Morgan Stanley RE Fund Attracts Sovereign Wealth

Is institutional real estate back for Morgan Stanley? Institutional investors are battling for properties in a hyper-competitive market, pushing other asset owners such as public pensions into riskier real estate. Many investors are feeling nostalgic like 2006. Big pools of capital are fervently chasing office properties. The American financial giant, through its real estate unit [...]

New York

CPPIB and BC Partners Back Altice’s Bid for Cablevision

Amsterdam-based Altice NV is getting financial firepower on its massive bid to buy New York-based Cablevision Systems Corporation, a cable operator. Founded in 1973 by Charles Dolan, Cablevision is one of the largest cable operators in the United States. The deal will make Altice the #4 cable operator in the United States. The French billionaire [...]

Three Tragic Ends for Three Name-Brand Hedge Funds

Public institutional investors pressured with generating high-enough returns for their financial obligations and investment committees, have pulled out of some name-brand hedge funds. The mounting losses have prompted three hedge funds to call it quits, as smart money is being challenged by global markets. The three selected are one hedge fund-of-funds shutting down, one group [...]

Friday SWFI News Roundup, October 23, 2015

Want to Lead a Massive SWF’s Real Estate Unit? Norges Bank Investment Management (NBIM) is advertising a newly-created role of chief executive officer for Norges Bank Real Estate Management. The person will report to NBIM’s CEO. OMERS Ventures Invests in Kaleo Software OMERS Ventures, the venture capital arm of OMERS, invested in El-Segundo-based Kaleo Software, [...]

France and Saudi Arabia Ink Deals Ahead of Paris Climate Conference

On October 13th, the government of France met with Saudi Arabian officials to discuss strategic partnerships and investment deals. French Prime Minister Manuel Valls met with Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defence at Al-Yamama Palace. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]

australia infrastructure

Australia’s Future Fund Spends Cash, Boosts Private Equity

Australia’s Future Fund is tasked to earn a return of at least CPI + 4.5% to + 5.5% per year over the long-run. Executives at the Future Fund warn of challenges of earning higher returns for the near future. According to the press release, David Neal, the sovereign fund’s managing director, “We have seen significant [...]

BEPS tax

Pensions and Wealth Funds Back Latest TPG Fund

Wealth funds continue to deploy capital to well-known U.S. alternative managers, seeking firms with steady track records. The Blackstone Group, Apollo Global Management and KKR continue to raise behemoth real estate funds, TPG Capital wants in on the action. Fort Worth-based TPG Real Estate, the real estate platform of TPG Capital, raised over US$ 2 [...]

Despite Rhetoric, Private Equity Firms Keep Raising Money

Private equity firms are sitting on massive amounts of dry powder – otherwise known as expensive un-invested money. Despite pension investment officers, media pundits and the academic class clamoring on about excessive private equity fees and dry powder, a number of alternative investment managers raised mega funds in recent months. Pensions want in on the [...]

Temasek Hearts VC, Vertex Venture Gets Warchest Boost

Vertex Venture Holdings, the venture capital unit of Singapore’s Temasek Holdings, is getting a financial boost. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Sovereign Fund Invests in U.S. Drone Company

Drones are being used for more purposes than just military warfare uses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]