Energy

Kazakhstan’s Samruk-Kazyna Sees Opportunity in Silicon Valley

Kazakhstan’s Samruk-Kazyna, a strategic development sovereign wealth fund (SDSWF), is analyzing whether to open an overseas office in Silicon Valley. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Shell London

Norway’s SWF to Vote on Climate Change Disclosure for BP and Shell

Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, intends to vote in favor of special shareholder resolutions at the general meetings of energy titans BP and Royal Dutch Shell. These resolutions call for listed companies to detail risk and opportunities associated with climate change and have it incorporated into their annual reports. [...]


Kurdistan Passes Oil & Gas Revenue Fund Law

In the city of Erbil, miles away from the ongoing ISIS conflict, Kurdistan’s Ministry of Natural Resources (MNR) was pleased with the passage of the Oil & Gas Revenue Fund Law by the Kurdistan parliament known locally as Perlemanî Kurdistan. To safeguard oil revenues, the MNR is keen on implementing the law as soon as [...]


Friday SWFI News Roundup, April 10, 2015

Does this cute cat have your attention? Here are the roundups for April 10th. Investment Corporation of Dubai Invests in 3 Luxury Hotels Gulf sovereign wealth funds are betting big on luxury hotel properties. The Investment Corporation of Dubai (ICD) invested in three luxury hotels – two in the United States and one in South [...]


Royal Dutch Shell to Acquire BG for £47 Billion

Oil giant Royal Dutch Shell Plc has agreed to acquire Reading-based BG Group Plc for approximately £47 billion (US$ 70 billion) in cash and shares. BG buys, ships, markets and sells liquefied natural gas (LNG). According to the press release, BG shareholders will receive 383 pence a share in cash, plus 0.4454 B shares in [...]


infrastructure

APG and CalSTRS Form Infrastructure Alliance, Brings Argo Infrastructure

Dutch-based manager APG Asset Management NV, owned by Stichting Pensioenfonds ABP, and California State Teachers’ Retirement System (CalSTRS) formed an infrastructure investment alliance – a popular trend among giants. These alliances are becoming more commonplace as asset owners and other institutional investors are teaming up identify suitable investments, compete for bigger deals and share risk [...]


UK Green Investment Bank Gets Money for Offshore Wind Fund

The UK Green Investment Bank plc (GIB), through its FCA regulated subsidiary UK Green Investment Bank Financial Services Limited, had its first close on commitments of £463 million. The fund is targeting £1 billion. The capital will be used to invest in operating offshore wind farms in the United Kingdom. Renewable energy investing such as [...]


Gulf Sovereign Wealth Fund Gets LATAM Infrastructure Exposure

Gas Natural Fenosa, a Spanish distributor of gas and electricity, through its newly-formed subsidiary Global Power Generation (GPG), is working with a Gulf sovereign wealth fund to boost its international presence overseas in markets such as Latin America. Gulf sovereign wealth funds have dedicated extensive resources toward the asset class of infrastructure. [ Content protected [...]


INVESTORS: 5 Key Takeaways from the 2015 WSJ ECO:nomics Event

  It is early evening Wednesday, March 25th, and I witnessed a flow of luxury cars drive through the gates of the Bacara Resort in Santa Barbara – the site of the 2015 ECO:nomics conference hosted by The Wall Street Journal. The conference is a must-attend, social gathering for green innovators, executives, policymakers, investors and [...]


CIC Makes Strategic Investment in Uranium Mining Company

Currently, China has 27 nuclear reactors under construction. The Asian giant’s nuclear programme possessed 18 GW of nuclear energy capacity in 2014, determined to hit 58 GW by 2020. The demand from China, India and the Middle East are elevating uranium prices, catching up to pre-Fukushima levels. Perth-based Paladin Energy Ltd, a Uranium explorer and [...]


Carlyle Stacks Up $2.5 Billion for International Energy Fund

The Carlyle Group closed its first private equity international energy fund at US$ 2.5 billion attracting sovereign wealth funds and pensions – totaling around 160 investors. The fund, Carlyle International Energy Partners (CIEP), started raising capital back in the middle of 2013. By August 2014, Carlyle raised US$ 1.86 billion in commitments for CIEP. Adding [...]


Fondo Strategico Italiano in Talks with KIC on Joint Investment Fund

Fondo Strategico Italiano (FSI) is in negotiations with Korea Investment Corporation (KIC) to create a €1 billion investment fund – according to various Italian media sources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Key Saudi Oil Adviser Warns on Herd Mentality

Ibrahim Al-Muhanna, advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia, gave a keynote at the Washington, DC-based Institute of International Finance conference in Doha on March 14th. Al-Muhanna had interesting insights on oil prices, OPEC and markets. Al-Muhanna reiterated there was no political motive behind Saudi Arabia’s decision to not cut [...]


South Africa’s Public Investment Corporation Backs Xina Solar One

Spain-based Abengoa, S.A. reached a deal with South Africa’s Public Investment Corporation (PIC), Industrial Development Corporation (IDC), a development finance institution owned by the South African government, and Kaxu Community Trust, on the closing of a non-recourse project financing arrangement for Xina Solar One, located in the Northern Cape province. [ Content protected for Sovereign [...]


QIA and KIC to Form $2 Billion Investment Fund

The Korea Investment Corporation (KIC) has made a substantial effort to form joint funds and investments with foreign institutional investors like Kingdom Holding and sovereign wealth funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


What Low Oil Prices Mean for Institutional Investors

Institutional investors such as pensions, sovereign wealth funds and private equity funds have allocated billions to U.S. energy companies. This committed capital, much of it based on the lofty assumption of oil prices hovering around US$ 90 to US$ 110 per barrel, was put to invest in oil and exploration projects, as well as production [...]


China’s SAFE, ADIA, CPPIB and Others Bid for Madrilena Red de Gas

Sovereign wealth funds, pension funds and other institutional investors are circling around a Spanish energy infrastructure asset. Madrileña Red de Gas, a Spanish natural gas distributor which is majority-owned by Morgan Stanley’s infrastructure unit, has three bidding groups left in the running. Some of these institutional investors include Abu Dhabi Investment Authority, CPPIB and SAFE [...]


Oil Drop Impacts Russian Sovereign Wealth Funds

Plagued by low oil prices and Western sanctions, Russia looks to withdraw a huge amount of money from its pool of sovereign wealth. During the 2000s, Russia’s sovereign wealth funds amassed a massive pool of liquid reserves. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


No Keystone: Institutional Investors Lose Big on Canadian Oil Sands

Canadian oil sands companies have struggled financially, many are cash-strapped, holding off on pursuing projects. The long-term payoff for institutional investors seems distant as global oil prices have plummeted. OPEC plans to meet in June. Saudi Arabia’s Oil Minister Ali Al-Naimi stated that OPEC will not change course even if prices drop to US$ 20 [...]


Iran to Spend $4.8 Billion in Sovereign Fund Money for Oil Development

The Iranian government plans to withdraw up to US$ 4.8 billion from its National Development Fund (NDF) to spend on developing its oil and gas fields for the next fiscal year. The new fiscal year for the country’s budget begins on March 21. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]