Energy

SWFI First Read, December 4, 2016

BREAKING NEWS 4:40 PM PST Italian Prime Minister Matteo Renzi said he will resign after a defeat in a referendum over his plan to reform the constitution. “The ‘no’ won in an incredibly clear way,” Italian Prime Minister Matteo Renzi said from the Chigi Palace. Lukoil Sells Arkhangelsk Diamond Mine Moscow-based Lukoil, a giant Russian […]


HEADWINDS: Nordic Institutional Investors Continue Push into Renewables

Nordic institutional investors are maintaining their acceleration into green and renewable energy investments despite recent presidential election outcomes that could be unfavorable for the climate change industry. For example, Finnish pensions insurer Varma recently published a new climate policy when it comes to investing, influenced by the accords of the Paris Climate Change Conference. [ […]


AIMCo Backs Savanna Energy Services

The Alberta Investment Management Corporation (AIMCo), which manages a number of funds including Alberta’s Heritage Fund, signed a letter of commitment and a subscription agreement to enter into a strategic financing relationship with Calgary-based Savanna Energy Services Corporation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 24, 2016

Happy Thanksgiving from SWFI Sue Brake Heads Over to Willis Towers Watson Sue Brake, a senior investment strategist at the New Zealand Superannuation Fund, has exited the wealth fund to join Willis Towers Watson as a senior investment consultant. APG Group Appoints Dick van Well to the Supervisory Board APG Group, which oversees APG Asset […]


SWFI First Read, November 23, 2016

Fidelity Investments Names Abigail Johnson as Chairwoman Abigail Johnson was named Chairwoman of Fidelity Investments. She was named CEO of Fidelity Investments in October 2014. She is replacing her father, Edward “Ned” Johnson, as chairman of the company. Serious Fraud Office Plans to Make Decision in March Regarding Barclays Capital Raise [ Content protected for […]


Temasek Holdings Exits Position in CITIC Resources

Singapore’s Temasek Holdings exited its position in CITIC Resources Holdings Limited, selling its entire 10% ownership stake, about 786.6 million in shares. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


World Bank and Ithmar Capital Establish Green Growth Infrastructure Facility for Africa

The World Bank Group and Ithmar Capital, a Moroccan public fund, entered into a Memorandum of Understanding (MoU) relating to the establishment of a Green Growth Infrastructure Facility for Africa (GGIF Africa). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 16, 2016

Calamos Loses Major Mandate from Nomura Calamos Investments is losing money from a major account, which could bring its assets under management down by 5%. Approximately, US$ 1.1 billion in assets is being pulled from Calamos by Nomura Holdings. Nomura is moving the money to American Century Investments. In December 2015, Nomura acquired a 41% […]


Harvard

Is Harvard Management Company Giving Up on Natural Resources?

Harvard Management Company (HMC), the investment arm of Harvard University, is in the midst of trying to sell parts of its natural resources portfolio, particularly in forestland. Harvard has the wealthiest university endowment in the world. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Louisiana Voters Approve Revenue Stabilization Trust Fund

Voters in the U.S. State of Louisiana approved Amendment Five – the Stabilization Trust Fund, with 949,598 votes (53.6%) for Yes and 821,934 votes (46.4%) for No. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 6, 2016

India’s NIIF Could Allocate to Renewable Projects India’s National Investment and Infrastructure Fund (NIIF) is seeking to possibly allocate US$ 600 million toward a US$ 2 billion private equity fund that will back renewable energy projects in India. Other investors in the fund appear to be India’s largest utility NTPC, the Indian Renewable Energy Development […]


Eastern Foreign Banks to Open In Iran

As Iran economically benefits from the nuclear deal with the United States and sanctions eased, more foreign banks are beginning to open up branches in the country. Three foreign banks are applying for approval to operate in Iran. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


IFM Investors and AustralianSuper Win Bidding for Ausgrid Lease

IFM Investors and AustralianSuper acquired a 50.4% ownership interest in a 99-year lease of Ausgrid, an electricity transmission and distribution business, for A$ 16.2 billion (US$ 12.4 billion). The seller was the New South Wales Government and will retain a 49.6% ownership interest in Ausgrid. Ausgrid powers around 1.7 million homes and businesses in New […]


NZ Super Fund Embraces Climate Change Investment Strategies

The New Zealand Superannuation Fund (NZ Super Fund) is undertaking a new strategy when it comes to making its wealth fund more resilient to climate change investment risk. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RDIF and India’s NIIF Form $1 Billion Indian Investment Fund

Russia is seeking to tap India’s thirst for oil. India is the world’s third biggest oil importer, according to the International Energy Agency (IEA). The Russian Direct Investment Fund (RDIF) and India’s National Investment and Infrastructure Fund (NIIF), have agreed to form a US$ 1 billion Russia-India Investment Fund. Russia is quickly cementing ties in […]


ADIA Acquires Minority Stake in Scotia Gas Networks

Wealth funds are not holding back post-Brexit – the desire for high-quality infrastructure assets is too strong. The Abu Dhabi Investment Authority (ADIA), through its sovereign wealth enterprises, acquired a 16.7% minority equity ownership stake in gas distribution business Scotia Gas Networks Limited (SGN) from Perth, Scotland-based power provider SSE plc. SSE will retain a […]


SWFI First Read, October 9, 2016

China’s Foreign Exchange Reserves Fall to US$ 3.17 Trillion in September 2016 China’s foreign exchange reserves fell to US$ 3.17 trillion in September 2016, according to the People’s Bank of China. There is speculation that China’s central bank has been selling U.S. dollar to support its currency. Altus Power Raises Over US$ 200 Million in […]


Friday SWFI News Roundup, October 7, 2016

Bloom Energy Looks to IPO Sunnyvale, California-based Bloom Energy Inc., a manufacturer of fuel-cell power generators, is looking to have its initial public offering (IPO) after much delay. Some sovereign funds that have financially backed Bloom Energy include the New Zealand Superannuation Fund (NZSF) and Alberta Investment Management Corporation (AIMCo). GETTING BIGGER: Saudi Aramco Reveals […]


New Zealand Superannuation Fund Attracted to U.S. Renewable Assets

Institutional asset owners are becoming increasingly aware that energy security and climate change concerns remain elevated priorities for many Western governments. The Paris Conference on Climate Change 21 has motivated asset owners such as pensions and sovereign funds to allocate capital to select opportunities in the renewable energy generation space. [ Content protected for Sovereign […]


Asset Owners Close in on Blackstone’s Philippines Power Plant Assets

Three rival investor groups are closing in on Sithe Global Power LLC’s ownership interest in Philippine power plant assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]