GlassPoint Solar Raises Capital from Oman Sovereign Wealth Fund

Fremont-based GlassPoint Solar Inc. is a company that provides solar steam generators to the oil & gas industry for applications such as enhanced oil recovery. GlassPoint purports the solar steam generators could eventually reduce an oilfield’s natural gas consumption by up to 80%.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]

Siccar Point Energy Raises Private Equity and Sovereign Wealth Capital

The Blackstone Group, through Blackstone Energy Partners, and London-based Blue Water Energy have announced they will lead an investment of up to US$ 500 million in newly-formed Scotland-based Siccar Point Energy Limited. Siccar Point Energy is a new exploration, development and production company focused on the North Sea. [ Content protected for Sovereign Wealth Fund [...]

BNRI, Riverstone Funds and Temasek Back Origo Exploration

Private equity firm Riverstone Holdings LLC, through its funds, Barclays Natural Resource Investments (BNRI) and Singapore’s Temasek Holdings are three cornerstone investors in Stavanger–based Origo Exploration AS. BNRI focuses exclusively on natural resources. Origo is an exploration and production (E&P) company focusing its efforts in the UK and Norway. [ Content protected for Sovereign Wealth [...]

Export-Import Bank of Korea Signs MoU with Investment Corporation of Dubai

The Export-Import Bank of Korea (Exim Bank), a state-managed bank, has signed a memorandum of understanding (MoU) with the Investment Corporation of Dubai (ICD) to discover opportunities for the Gulf to invest its oil money. Dubai is attempting to become a regional hub for Asian companies who want access to Africa.[ Content protected for Sovereign [...]

Deepwater Investing: Venari Attracts More Institutional Investor Money

Singapore sovereign wealth is pouring capital into American energy. Dallas-based Venari Resources LLC, a deepwater oil exploration and production company in the Gulf of Mexico, raised an additional US$ 1.3 billion in equity commitments. Existing investors participated such as Venari’s management, Warburg Pincus, Kelso & Company, The Jordan Company and Temasek Holdings. Some new institutional [...]

Investor Anticipation: President Nieto Signs Landmark Energy Reforms

On August 12, 2014, Mexican President Enrique Peña Nieto signed vital energy legislation that eliminates state-owned Petroleos Mexicanos’ (PEMEX) monopoly on energy production. PEMEX held this monopoly since 1938. President Nieto reiterated the Latin American country will create steps to draw the first round of private contracts. In fact, according to government figures, private investment [...]

Korean-Led Consortium Preferred Suitor of U.S. Shale Gas Company

Korea’s National Pension Service (NPS) and Korea-based gas seller E1 Corporation have been selected as the preferred bidder for a US$ 540 million stake in Oklahoma-based Cardinal Gas Services, LLC. Cardinal Gas is a joint venture between Houston-based EnerVest Energy Partners and Access Midstream Partners, a U.S.-based Total unit. In March 2013, Enervest’s Fund XIII [...]

Canadian Non-Operated Resources LP Raises Sovereign Wealth Capital

Canadian Non-Operated Resources LP, is a new vehicle that received equity commitments of up to C$ 675 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mubadala to Get More Shares of MMX Mineração e Metalicos

Mubadala Development Co. will receive 17.1 million shares or 10.5% of MMX Mineração e Metalicos SA, a Rio de Janeiro-based iron-ore mining company, from Eike Batista. The transfer will lower Batista’s stake to 46% in MMX Mineração e Metalicos SA, he will still be the largest shareholder (holding his chairman role). Batista has given up [...]


Oil SPAC Attracts Norway’s Sovereign Wealth Fund

International special-purpose acquisition companies, or SPACs, that focus on the energy sector are attracting large institutional investors. SPACs are blank-check companies that sell shares to raise capital to acquire companies that have not been selected yet. Typically, investors who invest in a SPAC are betting on the management team and their deal flow.[ Content protected [...]

Saudi Public Investment Fund’s Universe Widens

The government of Saudi Arabia is poised to invest in more types of domestic and overseas businesses. Saudi Arabia’s Public Investment Fund (PIF), a smaller vehicle of sovereign wealth, is expanding its coverage of domestic and overseas investments in industries to real estate, petrochemicals and technology. [ Content protected for Sovereign Wealth Fund Institute Standard [...]

Friday SWFI News Roundup, July 18, 2014

Aquila Capital and APG Create Hydropower Investment JV APG Asset Management and Hamburg-based Aquila Capital have created a partnership to invest €500 million toward European hydropower plants. The Dutch pension fund asset manager will contribute €250 million to the joint venture to make investments in operational plants and greenfield projects. Aquila Partners will provide the [...]

Alberta’s Sovereign Wealth Inch Toward Cleantech Investments

Alberta’s public purse looks to venture capital to make the province’s heavy-weighted energy sector less costly and cleaner. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Whineray Appointed Chief Investment Officer of New Zealand Superannuation Fund

The New Zealand Superannuation Fund (NZSF) has selected a chief investment officer. Matt Whineray has been appointed to the role by the Guardians of New Zealand Superannuation. Reporting under CEO Adrian Orr, Whineray will manage a team of 35 and will oversee the hiring of external investment managers. See New Zealand Superannuation Fund Key People [...]

Temasek Holdings Adds 3 to its Board

Singapore’s Temasek Holdings has added three new directors to its board, pushing up to 13 members. Robert Ng Chee Siong, Bobby Chin Yoke Choong and Peter Robert Voser will join the board. Robert Ng is the current chairman of Sino Group in Hong Kong and vice chairman of M+S Pte Ltd. Bobby Chin is a [...]

Sovereign Wealth Funds and Russia

Invest AD Renews Ties With Sberbank on Asset Management Cooperation

Invest AD, part of the Abu Dhabi Investment Council, and Sberbank Asset Management CJSC signed a Memorandum of Strategic Cooperation during the recent St. Petersburg International Economic Forum in Russia. This is a continuation of a strategic relationship in which they signed a similar document back in December 2012. OAO Sberbank is Russia’s largest lender [...]

How Sovereign Wealth Funds Can Save Tesla and Profit

The automobile business is a capital and labor intensive undertaking, requiring a healthy mixture of bonds, convertible debt and equity. A large sovereign wealth fund could benefit from a private investment in public equity (PIPE) transaction into Tesla, if there were favorable investment terms in return for a large current or potential equity stake. The [...]

PE Firm Energy and Minerals Seeks to Raise Hard Cap For Fund III

Houston-based The Energy and Minerals Group, LP is raising more than US$ 3 billion for its third fund, Energy & Minerals Group Fund III, L.P. Founded in 2006, the natural resource focused private equity firm has a US$ 2.5 billion fund target and a US$ 4 billion hard cap. The fund will target investments in [...]

Growing Research: ADIA Hires Former BP Chief Economist

The Abu Dhabi Investment Authority (ADIA) has hired its first global head of research. To be based in Abu Dhabi, Christof Rühl will join ADIA in July and create a new global research function nested in ADIA’s evaluation and follow-up division. This division will inform ADIA executives with proprietary macroeconomic and fundamental research. Furthermore, Rühl [...]

Why Mexico May Scrap Its Mega Oil Hedging Scheme

The Mexican government has undertaken ambitious energy reform. Approved by Mexican President Enrique Peña Nieto in December 2013, the energy plan permits private investment to flow into Mexico’s historically guarded oil and gas industry. One major reason for the law change is that Mexico’s oil production has slid by around 25% since a peak in [...]