Deals
Seoul

Woori Bank Might Finally Have a Buyer in the Gulf

The South Korean government has been trying to sell its ownership stake in a financial institution that it bailed out. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Angel Trains Has New Owners

Institutional investors are attracted to long-term contractual businesses that permit a high degree of income stability and visibility. Angel Trains has been sold to an investor group led by AMP Capital in a complicated transaction. AMP Capital through its managed funds already had a 25% stake in Angel Trains. [ Content protected for Sovereign Wealth [...]


superannuation

Canadian Investors to Takeover Australian Ports Operator and Infrastructure Company

A Brookfield consortium is acquiring Asciano, an Australian ports operator and infrastructure user business, in a A$ 8.9 billion (US$ 6.6 billion) takeover. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Central Huijin Looks to Raise Capital by Onshore Bonds

Central Huijin Investment Ltd., the sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC) that holds shares in domestic financial institutions, is planning to raise 30 billion RMB (US$ 4.68 billion) by onshore bonds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Invests in U.S. Optometry Chain

On August 17th, Toronto-based Atlas Partners and Caisse de dépôt et placement du Québec (CDPQ) announced they invested in Vienna-based Capital Vision Services, LP, a company that provides management services to MyEyeDr. optometry practices. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CIC Invests in GrabTaxi, Mubadala to Refi Big Loan

  CIC Backs Another Uber Rival, GrabTaxi After investing in China-based Didi Kuaidi Joint Co., the China Investment Corporation (CIC) invested in another, smaller taxi rival to Uber, GrabTaxi. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Will Google Turn into GE?

  Google has announced a major change in how it will operate. It is essentially creating a new holding company called Alphabet. Google co-founder Larry Page will become the CEO of Alphabet, while Sergey Brin will be president of the company. Alphabet will be Google’s parent, overseeing a vast array of projects and investments in [...]


2015: Strong Start for Sovereign Wealth Fund Deals

Direct Sovereign Wealth Fund Transactions Despite a possible future slowdown in the global economy, direct sovereign wealth fund transactions for the first half of 2015 conquered the first half of 2014. According to the Sovereign Wealth Fund Transaction Database (SWFTD), wealth funds generated US$ 64 billion worth of deals in the first half of 2015 [...]


Bright Food Partners With Asian SWF to Buy Spanish Food Company

Shanghai-based Bright Food, a food conglomerate, is partnering with the China Investment Corporation (CIC) to acquire Girona-based Miquel Alimentació S.A, a Spanish food distributor.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB Gets Exposure to SoCal Healthcare Real Estate

The Canada Pension Plan Investment Board (CPPIB) formed a joint venture with Toledo-based Health Care REIT Inc., to hold a portfolio of medical offices in Southern California. CPPIB will own 45% of the joint venture, while Health Care REIT will own 55%. Health Care REIT is selling assets into the JV. [ Content protected for [...]


Abu Dhabi Investment Authority Buys Stake in Tank & Rast

Private equity firm Terra Firma Capital Partners and a fund managed by Deutsche Asset and Wealth Management (formerly RREFF) have finally found buyers for Autobahn Tank & Rast Holding Gmbh, Germany’s biggest owner and concessionaire of a network of motorway service areas providing services to 500 million visitors each year. The vast network has around [...]


Sovereign Funds: 3 Portfolio Moves They Are Contemplating

Sovereign wealth funds like the Abu Dhabi Investment Authority (ADIA) and GIC Private Limited often take tactical bets while maintaining their long-term investment views. For example, GIC is an investor in Mumbai-based Eros International Plc, an Indian moviemaker – betting on India’s growing consumer class. ADIA has skipped away from U.K. core real estate to [...]


LeasePlan Sells to Institutional Investors with a $4.04 Billion Pricetag

Global Mobility Holding B.V., the owner of Almere-based LeasePlan Corporation N.V., is selling LeasePlan to a group of long-term investors for €3.7 billion (US$ 4.04 billion). Global Mobility Holding is a joint venture between Volkswagen Aktiengesellschaft and Fleet Investments B.V., an investment company of German banker Friedrich von Metzle. Formed in 1963, LeasePlan is one [...]


Norway’s Wealth Fund Exposed to a Struggling IBM

  Over the past few years, Armonk-based International Business Machines Corporation (IBM) has struggled to boost total revenue. Regardless of the blue chip stock’s sales generating dilemma, institutional investors like BlackRock and Fidelity Investments remain invested in the company. The revenue problem is not going away as overall quarterly sales fell for the 13th straight [...]


hong kong

China International Capital Corp Files for $1 Billion HK IPO

China International Capital Corporation (CICC) has filed for an initial public offering in Hong Kong. The bank hopes to raise US$ 1 billion and list in September. Leading the offering are CICC and ABC International, the investment banking unit of the Agricultural Bank of China.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]


Sovereign Funds Look to Sell Movies and Assets

UPDATE: On July 19, Neptune Orient Lines made a statement that it has not made any decision on a potential sale of the company, nor entered into any agreement regarding a sale. With sovereign funds spending tens of billions every quarter directly on companies, real estate and other assets, there comes times when these asset [...]


CPPIB Loans Money to Atlantic City Casino Business

Atlantic City casinos remain highly vulnerable to growing competition from neighboring regions. The Canada Pension Plan Investment Board (CPPIB), through CPPIB Credit Investments Inc., entered into a deal as the incremental term lender to provide a senior secured term loan in an amount of up to US$ 650 million to Marina District Finance Company, Inc. [...]


Friday SWFI News Roundup, July 10, 2015

Fairfax Financial Completes Insurer Brit Purchase On July 8, 2015, Fairfax Financial Holdings Limited completed its cash tender offer to shareholders of Brit PLC, a global specialty insurer and reinsurer. Fairfax has sold 29.9% of the Brit shares to Ontario Municipal Employees’ Retirement System (OMERS). Fairfax currently owns 70.1% of Brit and has the ability [...]


Goldman Sachs Tops SWFI Financial Advisory League Table for H1 2015

The Sovereign Wealth Fund Institute (SWFI), through its proprietary database, tracks transactions by sovereign wealth funds, pensions and other public funds. The first half of 2015 yielded US$ 95.56 billion worth of transactions versus US$ 74 billion in the first half of 2014. For 2014, sovereign wealth fund and public fund transactions totaled US$ 170.93 [...]


factor investing growth

Temasek’s Net Portfolio Value Mushrooms to S$ 266 Billion

Asian sovereign wealth funds like the China Investment Corporation (CIC) and Singapore’s Temasek Holdings boosted assets under management in the last twelve months. With even more money to manage, wealth funds are on the prowl for investments in companies, real estate and private equity. For example, the CIC is strategically positioning itself to acquire Morgan [...]