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 [...]

Pavilion Capital Joins KKR Investor Group to Buy Interest in Ticket Monster

  Chicago-based Groupon Inc. is selling a controlling interest in Ticket Monster Inc, South Korea’s second biggest online e-commerce company, to a group of investors led by KKR (through KKR Asia Fund II) for US$ 360 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, April 17, 2015

Ola Raises Money from Hedge Funds and Singapore Sovereign Wealth Fund Singapore’s GIC Private Limited invested in a US$ 400 million round in Ola, an Indian cab service. Ola is owned by ANI Technologies. Some other investors in the round are DST Global and hedge fund Falcon Capital Edge LP. QIA to Play Role in [...]

2 Little Deals in India That Prove Sovereign Wealth Funds are Serious

Increasingly, sovereign wealth funds are participating in varying segments of India’s markets whether in startups, real estate development or infrastructure. For example, Singaporean sovereign funds have participated in investment rounds in e-commerce companies such as Snapdeal and Flipkart. On a higher level, government officials from India are contemplating trade ideas with surrounding countries. On April [...]

Spotify Nears $8.4 Bil Valuation, Attracting Sovereign Wealth

  Spotify AB, a streaming-music platform, is raising its seventh round of capital approaching US$ 400 million for a private placement. This would value the song-streaming company at US$ 8.4 billion. Spotify raised US$ 250 million in its last round back in November 2013. Spotify, first launched in 2008, competes heavily against Pandora Media Inc. [...]

factor investing growth

Sovereign Fund-Backed Manager Launches Islamic ETF

In October 2014, Ernst & Young LLP forecasted that global Islamic banking assets will mushroom to US$ 3.4 trillion by 2018. The growth of the Islamic bond market (sukuk) has outpaced Shariah-compliant equity investments over the past few years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]

Outsized Performance is Met With Outsized Demand

This article is sponsored by National Association of Investment Companies. Written by Alan Hughes of the National Association of Investment Companies (NAIC) Achieving oversubscribed status is often a positive accomplishment for private equity firms. It generally shows that investors have confidence in the firm’s management team and that its investment strategy will lead to healthy [...]

CPPIB Participates in Largest U.S. LBO for YTD 2015

Redwood City-based Informatica Corporation is being taken private for US$ 5.3 billion by Permira Advisers LLC and Canada Pension Plan Investment Board (CPPIB). This is the largest leveraged buyout (LBO) so far in 2015 in the United States. Submitting bids for Informatica were Permira and CPPIB versus Thoma Bravo LLC and Ontario Teachers’ Pension Plan [...]

Friday SWFI News Roundup, April 3, 2015

ADIA Brings on Former QIC Investment Compliance Head The Abu Dhabi Investment Authority (ADIA) has hired Sam O’Sullivan as a manager in the investment services department. Previously, O’Sullivan was head of investment compliance and risk management at the Queensland Investment Corporation (QIC). Matt Winters was appointed interim head of investment compliance and risk management at [...]

DEAL FLOW: Texas Teachers Agrees to Commit More to KKR and Apollo Global

Private equity giants KKR & Co. and Apollo Global Management LLC received an additional US$ 4 billion in commitments from the Teacher Retirement System of Texas (TRS). The capital is allocated to the pension system’s Private Market Strategic Partnership Network program which permits the usage of separate accounts. [ Content protected for Sovereign Wealth Fund [...]

SECOND TIME: Qatar SWF Looking at Flipkart’s Next Round

Indian e-commerce startup Flipkart is engaged in talks of raising another round of capital. The company is looking to raise around US$ 600 million. Flipkart is trying to amass a pile of cash to stave off Amazon and its younger competitor Snapdeal. Flipkart was founded by two former employees, Sachin Bansal and Binny Bansal, [...]

Temasek VC Unit Invests in TheAsianparent

Vertex Venture Holdings, the venture capital unit of Singapore’s Temasek Holdings, invested in TheAsianparent, a Singapore-based web portal for soon-to-be parents and parents in Asia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]