Deals

CIC to Manage New Unit to Assist Chinese Domestic Enterprises Abroad

China is keen on boosting exports, while augmenting industrial capacity globally. Chinese Premier Li Keqiang’s trip to Latin America highlights the Asian giant’s ambition to stimulate industrial demand at home. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Khazanah Moves Forward with First SRI Sukuk

Malaysia’s Khazanah Nasional earlier this week launched the nation’s inaugural sustainable and responsible (SRI) sukuk – a 1 billion ringgit (US$ 280 million) bond program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


new york asset management

Wealth Fund-Backed LoanCore Realty Trust Readies IPO

Greenwich-based LoanCore Realty Trust is preparing for its initial public offering (IPO). The trust will be merging with its predecessor entity, DivCore Subordinate Debt Club I REIT Holding, LLC, to form a newly merged LoanCore Realty Trust. The trust will be managed by LoanCore Advisors, LLC, a wholly-owned subsidiary of LoanCore Capital, LLC. [ Content [...]


private equity

See Which Asset Class Returned 315.77% for this Sovereign Fund

The asset class is not equities or private equity. Keep guessing. It is definitely not a global macro hedge fund. The sovereign fund mentioned posting a 315.77% return for one of its asset classes is not the Abu Dhabi Investment Authority (ADIA) or the Qatar Investment Authority (QIA). It is not the GIC or Temasek [...]


KIA Could Invest in Proposed Domestic Worker Company

Kuwait’s Ministries of Interior, Social Affairs and Labor, the Cooperative Societies Union and the Kuwait Investment Authority (KIA), have agreed to form a company that will focus on recruiting domestic workers (maids) in Kuwait. The company’s goal is to improve the process of recruiting domestic workers from overseas at a fair cost. It is estimated [...]


Khazanah Changes Leadership, Hires ESADE Professor for London Office

Malaysia’s Khazanah Nasional has made some leadership changes. Recently, the wealth fund formed plans to open an office in London. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BOOM: Sovereign Funds and Canadian Pensions Acquire Stake in UK Mobile Company

On May 7th, the Canada Pension Plan Investment Board (CPPIB) made public that they signed a deal to purchase an approximate 12% stake, by investing £1.1 billion alongside Hutchison Whampoa Limited, in a holding company that will be created by merging O2 U.K. and Three U.K. The holding company is called Hutchison 3G UK Holdings [...]


Wealth Funds Explore Sale of Dunia

Abu Dhabi-based Mubadala Development Co. and Fullerton Financial Holdings Pte Ltd, a sovereign wealth enterprise of Temasek Holdings, are among a group of key shareholders looking at the possible sale of Dunia Finance LLC. Dunia is a consumer finance company based in the United Arab Emirates. [ Content protected for Sovereign Wealth Fund Institute Standard [...]


tibbles

Friday SWFI News Roundup, May 1, 2015

Abu Dhabi Investment Council Decreases Ownership in Canadian Retailer Abu Dhabi Investment Council (ADIC), through its sovereign wealth enterprise Hanover Investments (Luxembourg) S.A., sold off shares of Hudson’s Bay Company at a price of $27.25 per common share. This is approximately 5.8% of the outstanding common shares on a non-diluted basis pursuant to a secondary [...]


Could Sovereign Wealth Funds Back Possible Salesforce Takeover?

  Cloud software giant Salesforce.com Inc. is working with financial advisers to assist in fielding takeover offers. According to Bloomberg, the company was approached by a potential acquirer. After news of a potential takeover, Salesforce’s market value jumped, giving the cloud business a market value of US$ 49 billion. Yesterday afternoon, sales for Salesforce.com stock [...]


sovereign wealth fund center asia

COMPETITION: Sovereign Wealth Funds Spice Up Deal Activity in Asia

Sovereign wealth funds continue to expand their reach in a variety of transactions across Asia. The Qatar Investment Authority (QIA) is competing against Goldman Sachs on the acquisition of the Keangnam Hanoi Landmark Tower. The 72-story tower is the tallest building in Hanoi and is worth an estimated US$ 1 billion. Korea-based Keangnam Enterprises, Ltd [...]


DISMANTLE: Sovereign Wealth Funds Could Buy Parts of GE

Getting early dibs, private equity giant Blackstone Group and San Francisco-based Wells Fargo signed agreements to acquire the majority of assets of GE Capital Real Estate, a unit of General Electric (GE), in a transaction value worth approximately US$ 23 billion. More financial assets are available for sale, as GE yearns to return to its [...]


Oman SWF Invests in Italian Auto Parts Maker Sigit

The Oman Investment Fund (OIF), a sovereign wealth fund, acquired a 40% stake in Italian automobile parts manufacturer Sigit SpA. The strategic investment could lead to increased manufacturing in Oman, where the country has a booming young demographic, which is opposite of Italy’s aging demographic. Founded in 1966, Sigit is a privately-owned firm whose customers [...]


Temasek Allocates $150 Million in Indian Pharma Company

Singapore’s Temasek Holdings is investing 9.4 billion crore (US$ 151.4 million) in Mumbai-based Glenmark Pharmaceuticals Ltd. through its sovereign wealth enterprise Aranda Investments (Mauritius) Pte Ltd. Temasek is subscribing up to 10.8 million shares on a preferential basis for cash in the Indian drug manufacturer. Among sovereign wealth funds, Temasek is known for backing earlier [...]


Institutional Investors Await Comcast-Time Warner Cable DOJ Outcome

Institutional investors are carefully watching for a signal from regulators and antitrust officials regarding the possible merger block of cable giant Comcast Corporation and Timer Warner Cable Inc. The US$ 45 billion merger was announced in February 2014. In February 2014, Comcast Chief Financial Officer Michael Angelaki said “we are optimistic and feel comfortable” that [...]


BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets. #1. Mexican Infrastructure On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA [...]


blackstone

GE Capital Slims: Asset Sales to Blackstone and Wells Fargo

GE is changing. The company is rapidly shrinking the size of its GE Capital unit (once a key revenue driver), while focusing on its industrial businesses which range from expensive medical devices to jet turbines. The U.S. corporate giant is targeting to have 90% of its earnings generated by industrial businesses in 2018, up from [...]


CIC Signs MoU with Hebei Iron and Steel

Hebei Iron and Steel Group Company Limited, created in the June 2008 merger of Tangsteel and Hansteel, signed a Memorandum of Understanding (MoU) with the China Investment Corporation (CIC) on March 24th. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


LA Dodgers Partial Owner Could be a Sovereign Wealth Fund

During the World Economic Forum (WEF) in Davos, a reporter interviewed Korea Investment Corporation’s (KIC) chief Hank Ahn about strategic investing and the words Los Angeles Dodgers, an American baseball team, were uttered. In January, Hank Ahn visited the LA Dodgers stadium, meeting some owners. Media outlet Yonhap is reporting that KIC is considering acquiring [...]


UPDATED: Qatar Sovereign Wealth Fund Eyes World Duty Free

March 29, 2015 – UPDATED: Basel-based Dufry AG is moving forward on acquiring World Duty Free SpA by raising €2.1 billion by issuing new stock and getting up to €1.5 billion of long-term debt. Backing Dufry’s acquisition are sovereign wealth funds: Singapore’s GIC Private Limited, Temasek Holdings and Qatar Investment Authority (QIA). Each of the [...]