Deals

Wealth Fund Capital Backs Helicopters and Airports in Russia

An investor group comprised of the Russian Direct Investment Fund (RDIF), Russia’s Basic Element and Singapore’s Changi Airports International (CAI) has completed the acquisition of shares in Vladivostok International Airport in Russia’s Far East from Sheremetyevo International Airport. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Capital Invests in PhosAgro

The Russian Direct Investment Fund (RDIF) helped organize a group of investors to participate in the secondary offering of PJSC PhosAgro, a vertically-integrated producer of mineral fertilizers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, February 17, 2017

HNA Group Buys Small Stake in Deutsche Bank China’s HNA Group, a well-known massive conglomerate, purchase a 3.04% stake in Deutsche Bank. The transaction is estimated at £750 million. HNA Group indicated they could increase buying shares in the German bank. GIC Sold Some Shares in CGN Power Co., Ltd Singapore’s GIC Private Limited lowered […]


Follow the Money – Episode 32

This episode was recorded on February 15, 2017. Rachel and I break into chatting about the SoftBank/Fortress Investment Group transaction. Rachel reports on VietJet, while I discuss direct wealth fund deals into mainland China. We dive into emerging market deals in countries such as Brazil and India. I talk about direct deals and the headaches […]


SWFI First Read, February 16, 2017

ADIA and CDPQ Eye Autostrade Investment Autostrade per L’Italia SpA, an Italian toll road operator, has attracted the interest of big asset owners such as the Abu Dhabi Investment Authority (ADIA), Caisse de dépôt et placement du Québec (CDPQ) and Allianz SE. The seller of the 15% stake in Autostrade is Atlantia. Mubadala Investment Company […]


Is Singapore’s GIC Slowly Backing Away from Sinotrans?

Beijing-based Sinotrans Limited is one of the largest logistics firms in China, founded in 2002. The majority shareholder of Sinotrans Limited, which is listed on the Hong Kong Stock Exchange, is Sinotrans & CSC Holdings Co., Ltd (controlling 53.44% as of December 31, 2015). Sinotrans & CSC Holdings Co., Ltd., China’s second biggest shipping company […]


Can Mubadala Rejuvenate Brazil’s Invepar?

Brazil, Latin America’s biggest economy, is facing its toughest recession in decades amid a earth-shattering political crisis that linked government officials with state-owned companies. Making matters worse for the Brazilian economy is that borrowing costs had surged, while deal execution risk has increased. In February, state-controlled oil giant Petróleo Brasileiro SA (Petrobras) had its sale […]


SWFI First Read, February 13, 2017

Endeavour Energy Gets Offers The New South Wales government has received offers for a majority stake in Australian state-owned power grid Endeavour Energy. One investor group is led by Macquarie Group partnering with British Columbia Investment Management Corporation (bcIMC). Another investor group is led by Queensland Investment Corporation (QIC) that includes AMP Capital and Borealis […]


GIC Takes VietJet for a Ride

VietJet Aviation Joint Stock Company (VietJet), a Vietnamese budget air carrier, breathed life into plans to go public. VietJet was granted initial approval to operate in November 2007 by Vietnam’s Minister of Finance and was founded by Nguyen Thi Phuong Thao, a Vietnamese businesswoman. In the 1980s, Nguyen Thi Phuong Thao was a student in […]


Jean Raby to Take Helm at Natixis Global Asset Management

Natixis Global Asset Management has named a new CEO. Jean Raby will take the helm of CEO effective February 20, 2017. Raby will be a member of the firm’s senior management committee. Raby will oversee the three divisions of Natixis Global Asset Management which include the asset management, private banking and private equity business divisions. […]


Mainland China Experiencing Slowdown in Wealth Fund Direct Deals

With China experiencing a deceleration in economic growth, heightened geopolitical tensions, and rising risks in the country’s traditional financial sector, wealth fund direct investments have slowed down to a crawl in 2016 compared to 2015. Direct Transactions into Mainland China by Sovereign Wealth Funds – Billions USD Even though there is an abundance of institutional […]


ICD’s Big Sukuk Listed on Nasdaq Dubai

Nasdaq Dubai, a stock exchange that lists regional and international shares in the Middle East, has the listing of a US$ 1 billion sukuk by the Investment Corporation of Dubai (ICD). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Huntsman Family to Acquire Telecommunications Company in Guam

Huntsman Family Investments, the private investment platform for the Jon M. Huntsman, Sr. family, agreed to acquire GTA TeleGuam from Tokyo-based Advantage Partners, LLP, a private equity firm. GTA TeleGuam will continue to be locally managed and operated. GTA TeleGuam provides local and long-distance telephone service, 4G wireless, DSL Internet access, and advanced digital television, […]


GIC Invests in Hyundai Card

General Electric (GE) agreed to sell a 43% ownership stake in South Korean credit card firm Hyundai Card Co Ltd to an investor group. The investor group consists of Singapore’s GIC Private Limited, AlpInvest Partners B.V., Affinity Equity Partners and Hyundai Commercial Inc., an affiliate of Hyundai Motor Company. [ Content protected for Sovereign Wealth […]


Temasek’s High-Stakes Bet on Google’s Verily Life Sciences

Asian sovereign wealth funds march forward on their quest for innovative healthcare companies. Singapore’s Temasek Holdings invested US$ 800 million in Verily Life Sciences LLC, a spin-off of Alphabet (formerly known as Google) for a minority ownership stake. Verily Life Sciences, formerly known as Google Life Sciences, is a health and life sciences subsidiary of […]


TEQUILA!

Mexico-based Jose Cuervo, the world’s largest tequila maker, seeks to raise US$ 706.5 million in its initial public offering (IPO). The tequila manufacturer was hesitant in having its IPO over the fluctuations in the Mexican peso. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Alibaba’s Koubei Finalizes Latest Round

Alibaba Group Holding Ltd. had brought together a group of investors for a US$ 1.1 billion round in its on-demand services unit called Koubei. Koubei operates in the cutthroat world of food delivery. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


China Merchants Group Eyes Ethiopian Shipping SOE

China’s One Belt, One Road policy continues to expand, even throughout Ethiopia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


LEAGUE TABLES: Goldman Sachs Takes the Iron Throne for 2016

The Sovereign Wealth Fund Institute (SWFI), through its proprietary database, tracks direct transactions by sovereign wealth funds, pensions and other public funds. The database has a bias toward equity, real estate and infrastructure transactions and a much lower emphasis on bond deals. Combining all public investors, for calendar year 2016, transactions amounted to US$ 205.25 […]


INSIDE: Unraveling the Rosneft Deal with Glencore and QIA

Commodities firm Glencore plc and the Qatar Investment Authority (QIA) together ended up acquiring a 19.5% stake in Rosneft PJSC through a varied transaction of debt and equity. A large portion of the deal came through debt financing. For example, under the deal terms, Glencore is committing €300 million in equity, while the QIA is […]