Alternatives

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, [...]


forest

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, [...]


BNY Mellon Manhattan

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 [...]


Concierge Treatment: Private Equity Courts Mega Sovereign Funds and Pensions

Over the past few years, sovereign wealth funds have gained a bit of leverage over private equity managers. Sovereign funds like Kuwait Investment Authority (KIA), China Investment Corporation (CIC) and Abu Dhabi Investment Authority (ADIA), have taken ownership stakes in headline private equity firms such as The Blackstone Group and The Carlyle Group. As sapient [...]


PRESS RELEASE – NAIC Becomes Title Sponsor to SWFI Institutional Investor Forum Miami

FOR IMMEDIATE RELEASE SEATTLE, Wash. – 24 November 2014 – Sovereign Wealth Fund Institute (SWFI) has announced the National Association of Investment Companies (NAIC) as the title sponsor for the SWFI NAIC Institutional Investor Forum 2015 in Miami Beach. The forum is being held on February 9, 2015 at the Fontainebleau Hotel. Sovereign wealth funds, [...]


Texas Teachers: $755 Million in Private Market Commitments

The Texas Teacher Retirement System has committed US$ 755 million to five private market funds. These funds were reported to have received capital commitment agreements approved before September 30, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


State Street Sells Hedge Fund Unit SSARIS

With some influential, large U.S. pensions like California Public Employees’ Retirement System (CalPERS) dumping hedge funds, the growth of smart beta products and increased regulation like Dodd-Frank, U.S. banks are being compelled to shed their hedge fund businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Bets on Israeli Ingenuity

When it comes to sovereign wealth funds, Singapore’s Temasek Holdings is big on venture capital investing. The sovereign fund is betting on Israeli ingenuity by agreeing to fund new technologies emerging from Tel Aviv University.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, November 14, 2014

Temasek Acquires Stake in Intas Pharmaceuticals One of Singapore’s sovereign wealth funds, Temasek Holdings, has acquired a 10.16% stake in Intas Pharmaceuticals, an Indian drugmaker. Temasek Holdings purchased the stake from private equity firm ChrysCapital. Hellman & Friedman Raises Some Big Money San Francisco-based Hellman & Friedman LLC raised US$ 10.9 billion for its 8th [...]


Gulf Sovereign Wealth Fund Backs Kelvin Re

Insurance exposure is a budding asset class for institutional investors, especially sovereign wealth funds. A new Guernsey reinsurance vehicle, Kelvin Re Limited, is expected to write a global, diverse reinsurance portfolio amounting to US$ 100 million in its first year. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


CPPIB Buys Apax Europe VII Stake from SL Capital Partners

Increasingly, sovereign wealth funds and large pensions are seeking secondaries, developing internal resources and hiring consultants to assist with the process. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


avolon

RESILIENCE: Latin American Private Equity Funds Draw Institutional Investors

Latin America, despite cycles of economic and political instability, has a growing middle class. The Latin American private equity market has moved from “niche” to becoming an important component of PE diversification. Global private equity shops have setup offices in cities across the region. Advent International just closed its US$ 2.1 billion fund Advent Latin [...]


CalPERS Commits $80 Million to Grosvenor for CA Mezzanine Program

The California Public Employees’ Retirement System (CalPERS) has committed US$ 80 million to Chicago-based GCM Grosvenor. The new commitment will be funneled through a direct investment vehicle before the close of 2014. The vehicle, California Mezzanine Investments, will use mezzanine debt to finance California companies. The fund will be managed by Grosvenor’s Private Markets unit. [...]


ATP

Denmark’s ATP Forms Special Situations Unit

Denmark’s ATP has five risk classes: interest rates, credit, equities, inflation and commodities. The ATP is forming a unit to focus on “non-traditional assets.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ahmad Al-Sayed

NEXT PHASE: QIA and CITIC Form $10 Billion JV Fund

For years, Qatar has demonstrated significant interest investing in China whether applying for a quota under China’s QFII scheme, being a cornerstone investor in the Agricultural Bank of China’s IPO or opening an office in Beijing. The Qatar Investment Authority (QIA) penned an agreement with state-owned CITIC Group Corporation to form a US$ 10 billion [...]