Alternatives
Ireland

CIC Eyes Irish Aircraft Leasing Company

The China Investment Corporation (CIC) is eyeing a possible takeover of Avolon, an Irish-based aircraft leasing firm. The CIC is partnering with Aviation Industry Corporation of China (AVIC), a state-owned aerospace and defense business, in a move to acquire Avolon.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


LDP’s Shiozaki Calls for GPIF to Invest in Private Companies

Yasuhisa Shiozaki, deputy policy chief of Japan’s Liberal Democratic Party (LDP), has called for Japan’s Government Pension Investment Fund (GPIF) to be allowed to invest in unlisted companies, specifically unlisted ventures and small-to-medium enterprises. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 8, 2014

Nigeria Sovereign Investment Authority to Manage US$ 350 Million for NBET On July 24, the Nigeria Sovereign Investment Authority (NSIA) and Nigerian Bulk Electricity Trading Plc (NBET) signed a funds management agreement. US$ 350 million is being allocated to the NBET from the US$ 1 billion Eurobond issued by the Nigerian government in July 2013. [...]


Juno Therapeutics Raises $134 Million for Series B Round

Seattle-based Juno Therapeutics Inc., a biotechnology company focusing on novel immunotherapies for cancer, closed a Series B round with US$ 134 million in new investment. In total, Juno has raised over US$ 300 million in the past 12 months – this includes a US$ 176 million Series A round in April. The new capital will [...]


Ardian in Discussions over $2 Billion Sovereign Fund Private Equity Stakes

Paris-based Ardian, formerly Axa Private Equity, is in discussions to acquire private equity fund interests worth more than US$ 2 billion from a Gulf sovereign wealth fund. Ardian is a private equity firm which has raised a significant amount of capital for its secondary-focused funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


Wealth Funds Take Lead on Central and Eastern European PE Investing

Mid Europa Partners, a private equity fund that focuses on central and eastern Europe, has raised €810 million for its fourth fund, Mid Europa IV GP L.P. The fund can also draw in €650 million in additional commitments (thanks to sovereign wealth fund capital) that want to co-invest with Mid Europa. [ Content protected for [...]


Friday SWFI News Roundup, August 1, 2014

NBIM Buys Le Madeleine from BlackRock Fund Norges Bank Investment Management (NBIM) has bought a 100% interest in Le Madeleine. Le Madeleine is a 31,500 square meter mixed-use property on Boulevard de la Madeleine in Paris. The deal was signed on May 22, 2014 and closed on July 31, 2014. NBIM paid €425.6 million euro, [...]


Three Reasons Why Sovereign Wealth Invested in Rong360

Pavilion Capital, a sovereign wealth enterprise of Temasek Holdings that focuses on China, led a US$ 60 million series C round of capital for Rong360, a Beijing-based online private lending search service. Other venture capital investors are Lightspeed China Partners, Kleiner, Perkins, Caufield and Byers (KPCB) and Sequoia Capital (all existing investors). The company was [...]


Why Sovereign Wealth Centers on San Francisco Bay Area

A number of Asian sovereign wealth funds continue to build ties to Silicon Valley, the hotbed for technology innovation and the rest of the San Francisco Bay Area. In a trailblazing signal, Malaysia’s Khazanah Nasional chose to open its U.S. office in San Francisco, not in New York City. Singapore’s GIC Private Limited also has [...]


Korea’s Largest Public Fund Invests $390 Million in PE Vehicle

Korea’s National Pension Service (NPS) is moving billions of capital toward alternative asset classes such as private equity and institutional real estate. The largest pool of public retirement assets in Korea will invest in a 400 billion KRW (US$ 390 million) private equity co-investment fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


India deals

Singapore Sovereign Wealth Invests in Indian E-Commerce Flipkart

Singapore’s GIC Private Limited has joined existing investors Accel Partners, DST Global, Iconiq Capital, Morgan Stanley Investment Management (MSIM) and Sofina to invest a total of US$ 1 billion in Flipkart. This adds to the company’s existing US$ 770 million war chest raised. Flipkart is India’s biggest e-commerce company, competing against another Indian company called [...]


Asian Sovereign Wealth Fund Withdraws £4 Billion from Aberdeen

Aberdeen Asset Management PLC suffered a £4 billion withdrawal from an Asian sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Pensions and Sovereign Funds Contribute to Massive Profits for Blackstone

Equity research firms like JMP Securities and RBC Capital have raised their price targets on The Blackstone Group L.P., after the private equity firm disclosed recent financial information. For the Blackstone Group, second quarter profit is measured as economic net income. Economic net income grew by 89% to US$ 1.3 billion since the second quarter [...]


GPIF Chooses Coller Capital Partner for Investment Committee Spot

Japan’s Government Pension Investment Fund (GPIF), US$ 1.27 trillion in size, chose Hiromichi Mizuno to join the fund’s investment committee. Based in London, Mizuno replaces Kimikazu Nomi, CEO of a state-backed investment group called Innovation Network Corporation of Japan. Nomi’s term expired earlier in July. See Key Executives and People – Japan’s GPIF [ Content [...]


Ireland

Carlyle Cardinal Ireland Fund Gets €292 Million

The Carlyle Group and Cardinal Capital Group on July 14, 2014, had a final close of Carlyle Cardinal Ireland Fund which raised €292 million. Founded in 2003 by Nigel McDermott and Nick Corcoran, Cardinal Capital Group is an investment management firm with offices in London and Dublin.[ Content protected for Sovereign Wealth Fund Institute Standard [...]


Bidders for South Korea’s Parnas Hotel Line Up

Institutional investors are bidding for a majority stake in South Korea’s Parnas Hotel Co Ltd. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Dubai

ADIA Looks to Dump 2 Billion in Private Equity Secondaries

Institutional investors such as public pensions, financial institutions and sovereign wealth funds eye secondary market sell-offs to reconfigure private equity portfolios.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


IFC Catalyst Fund Raises US$ 418 Million Toward Climate-Related Investments

The IFC Catalyst Fund is a private equity fund of funds focused on providing growth capital for companies delivering resource efficiency and low-emission products and services in emerging markets. The fund is managed by IFC Asset Management Company LLC, a wholly-owned subsidiary of the International Finance Corporation (IFC). The IFC Catalyst Fund has raised about [...]


MOOO: Sovereign Funds Thirst for Dairy

The dairy sector has attracted a significant number of public investors including sovereign wealth funds. Singapore’s GIC Private Limited and Olympus Capital led a group of investors to invest US$ 106 million in China’s Huaxia Dairy Farm Ltd. The Singapore sovereign wealth fund is investing the bulk of the capital at US$ 70 million. Olympus [...]


Kuwait Sovereign Wealth and Fondo Strategico Italiano Create FSI Investimenti

The government of Italy is building strategic economic ties with the Gulf countries – thus marking a previous set of transactions with Qatar’s sovereign wealth fund. Fondo Strategico Italiano (FSI) and the Kuwait Investment Authority (KIA) have developed an investment entity with commitments and assets worth €2.185 billion. The entity called FSI Investimenti is 77% [...]