Alternatives

Friday SWFI News Roundup, September 19, 2014

Scotland Votes “No” for Independence According to the BBC, results for Scottish independence from the United Kingdom show that 55.3% of the people voted “NO”. 44.7% of people voted “YES” for Scottish independence. The question remains if there will ever be a Scottish sovereign wealth fund. Institutional Capital Moves into Mexico for Energy Sierra Oil [...]


Here’s Why CalPERS Dropped Hedge Funds

Are hedge funds losing significance with major institutional investors? The California Public Employees’ Retirement System (CalPERS), the largest U.S. pension fund, expelled hedge funds from its portfolio – sending a shock to the estimated US$ 3 trillion hedge fund industry. Some hedge funds are known for leveraged bets on market beta. CalPERS interim Chief Investment [...]


CCMP Capital Advisors Raises $3.6 Billion for Fund III

New York-based CCMP Capital Advisors, LLC has closed CCMP Capital Investors III at US$ 3.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Asian sovereign wealth

BOOM: Carlyle Raises $3.9 Billion for Fourth Asia Buyout Fund

The Carlyle Group has raised US$ 3.9 billion for its fourth Asian buyout fund, Carlyle Asia Partners IV. This is the second biggest private equity fund ever raised that is targeted for Asian investment. The fund excludes Japan since Carlyle is planning to raise a separate Japan fund. To raise capital, Carlyle lowered its management [...]


SWFI – Movers and Shakers – August 25, 2014

Jim Murray Joins Vector Capital Jim Murray has been hired by San Francisco-based Vector Capital as chief financial officer. Before, he spent 14 years at Blum Capital as chief administrative officer and chief financial officer. Kirkpatrick Named Secretary of CFTC Christopher J. Kirkpatrick has been appointed Secretary of the U.S. Commodity Futures Trading Commission (CFTC). [...]


Ireland

China Ireland Technology Growth Capital Fund Invests in FieldAware

Dublin-based FieldAware, a startup technology firm the creates and sells mobile applications, has received investment from a sovereign wealth fund through a joint venture fund. In addition, two more similar capital raises are slated for announcement in the coming weeks. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


JMI Equity Attracts Public Funds, Raises $1 Billion for Fund VIII

Baltimore-based JMI Equity, a private firm focusing on software, internet, business services and healthcare tech, raised US$ 1 billion for JMI Equity Fund VIII, L.P. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds Could Own a Significant Piece of Shutterfly

Redwood City-based Shutterfly Inc., a photo sharing website, has received a number of buyout offers from private equity firms. Second round bidders include Hellman & Friedman LLC, Silver Lake Partners LP and Bain Capital LLC. These private equity funds have attracted sovereign wealth funds and pensions as fund investors. Often times, these large institutional investors [...]


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. ]