Alternatives

REVERSE: Mubadala Capital to Manage Money for Ardian

Ardian, a European alternative investment management company, is buying the majority position in a US$ 2.5 billion pool of private equity interests owned by Mubadala Capital, a sovereign wealth enterprise (SWE) of Mubadala. Ardian is investing US$ 1.75 billion for that pool. The transaction was completed on March 31, 2017. Mubadala Capital will continue to […]


Virtu Financial to Acquire KCG, Backing from Wealth Fund Capital

High-speed trading firm Virtu Financial, Inc. signed a definitive agreement to acquire its rival KCG Holdings, Inc. in a cash transaction valued at US$ 20 per KCG share, or a total of approximately US$ 1.4 billion. Both the board of directors of Virtu Financial and KCG agreed to the transaction. Jefferies LLC, the largest shareholder […]


Mubadala Exits Out of Exova

Abu Dhabi-based Mubadala was part of a group of investors that owned a large stake in Edinburgh-based Exova Group plc, a lab testing company with heavy reliance on the oil sector. Element Materials Technology Group Limited (Element Materials), which is majority-controlled by private equity firm Bridgepoint, agreed to acquire Exova in a £620.3 million deal, […]


blackstone

CPPIB and Blackstone to Acquire Ascend Learning

Canada Pension Plan Investment Board (CPPIB) and funds managed by The Blackstone Group inked a deal to acquire Burlington, Massachusetts-based Ascend Learning, LLC, a provider of educational content, software and analytics solutions. The sellers are private equity funds advised by Providence Equity Partners LLC and Ontario Teachers’ Pension Plan (OTPP). Providence Equity Partners had a […]


Temasek Invests in Legal Software Provider Intapp

Palo Alto-based Intapp, a maker of business applications for law firms and professional services firms, received an investment from Singapore’s Temasek Holdings. In recent months, Temasek had opened a San Francisco office to get closer to venture deals in Silicon Valley. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


The Riverside Company Sells Minority Interest to Wealthy Mandel Family

Cleveland-based Parkwood LLC purchased a non-voting minority ownership stake in The Riverside Company, a Cleveland-based private equity buyout firm. The acquired ownership stake was just under 10%. Parkwood LLC is also an investor in a number of Riverside funds. The Riverside Company typically makes control and non-control investments in growing businesses valued at up to […]


SWFI First Read, April 11, 2017

J.P. Morgan Asset Management to Acquire Beacon Rail Leasing J.P. Morgan Asset Management has agreed to buy Beacon Rail Leasing, a U.K. rolling stock leasing company, from London-based Pamplona Capital Management (through Pamplona Capital Partners III), for £855 million. Pamplona Capital Management started a bidding process for the asset in November 2016. The private equity […]


SWFI – Movers and Shakers – April 11, 2017

INTERNAL: New Co-Heads of Global Capital Markets at BlackRock Asset manager giant BlackRock moved Ed Cook and Ben Spielman to be co-heads of global capital markets. Ed Cook is based in London, while Spielman is based in the United States. Ed Cook is Managing Director, Head of EMEA Capital Markets at BlackRock. Spielman has experience […]


CalPERS Seeks to Emulate the Reference Portfolio Concept

The California Public Employees’ Retirement System (CalPERS) is moving toward the reference portfolio model, emulating the likes of the Ontario Teachers’ Pension Plan (OTPP), Canadian Pension Plan Investment Board (CPPIB), GIC Private Limited and the New Zealand Superannuation Fund. Mega pension CalPERS has slowly reduced exposure to private equity over the past months. In April, […]


Mumtalakat Locks in Profit on PRO Unlimited

Bahrain’s Mumtalakat Holdings and Investcorp both agreed to sell some level of ownership in PRO Unlimited, a provider of software and managed services to large companies, to New York-based Harvest Partners, a middle-market private equity firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Private Equity Head Real Desrochers Exits

Réal Desrochers, who heads the private equity program at California Public Employees’ Retirement System (CalPERS) is leaving effectively, April 7, 2017. Desrochers is taking a position at a large overseas bank, according to CalPERS. In the interim, Sarah Corr will act as the temporary lead of the private equity program at CalPERS. He joined CalPERS […]


OMERS Extends Hand to Couponing and Market Analytics Business

OMERS Private Equity, the private equity unit of OMERS, has agreed to buy Winston-Salem, North Carolina-based Inmar Inc. from affiliates of Boston-based ABRY Partners, LLC. ABRY Partners will retain a minority interest in Inmar. Founded in 1980, Inmar is an analytics and technology-enabled service provider, offering coupon processing and logistics solutions as well. With that […]


MORE AMMO: Norway SWF Could Remove IPO Exception to Invest in Unlisted Companies

The Norwegian oil giant appears to be facing a shrinking pool of equities to choose from in certain developed markets, even though its allocation in public equities is likely to increase over the next three years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OTPP and Temasek Join Selling Shareholders in Athene Secondary Sale

Bermuda-based Athene Holding Ltd., a listed fixed annuities provider, had announced an underwritten offering of its Class A common shares, some 25,000,000 shares. These shares are being sold by a cadre of shareholders with an estimated price tag of US$ 1.27 billion. Athene will not receive any proceeds from the share sale offered. In addition, […]


forest

Public Institutional Investor Capital Eyes Access to Clinical Trial Company

The upward sloping trend of mega pharmaceuticals outsourcing research, development and operations continues to thrive. Wilmington, North Carolina-based Pharmaceutical Product Development LLC, a clinical research company, could have some new foreign institutional owners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB and KKR Invest in Bharti Infratel

The Canada Pension Plan Investment Board (CPPIB) and a group of funds advised by KKR acquired over 190 million shares, representing a 10.3% stake in Bharti Infratel Limited, a subsidiary of Bharti Airtel Limited. Bharti Airtel Limited is India’s largest telecommunications services provider. The total consideration for the secondary sale was over Rs 6,193.9 crore […]


PSP Investments, Digital Bridge and TIAA Buyout Vantage Data Centers

According to data from the Sovereign Wealth Fund Institute (SWFI), there has been a tremendous increase over the past three years in public institutional investors directly investing into data centers. On March 27, 2017, an investor group made up of Public Sector Pension Investment Board (PSP Investments), TIAA Investments (an affiliate entity of Nuveen), and […]


Temasek Invests in Manipal Health

With a fertile population and a growing middle class, India’s hospital sector will need more beds over the next decade to accommodate market demand. Hospital companies have attracted the attention of wealth funds, pensions and private equity firms over the past five years in India. Singapore’s Temasek Holdings is poised to acquire an 18% stake […]


Qatar Sovereign Fund Plans to Open San Francisco Office

In joining many of its sovereign wealth fund peers, the Qatar Investment Authority (QIA) plans to open an office in San Francisco in 2017 or in the first quarter of 2018. The QIA has an office in Manhattan. The CEO of QIA informed an audience at the Qatar UK Business and Investment Forum, on March […]


ISIF Commits to Reverence Capital Partners Opportunities Fund

On March 21, 2017, the Ireland Strategic Investment Fund (ISIF) announced a €50 million investment in Reverence Capital Partners Opportunities Fund I L.P., a fund focused on investing in global, middle-market, financial services companies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]