Energy

AIMCo Goes Solar, Invests in FTP Power with AES Corporation

Savvy hedge funds and private equity firms have long-known the desires of large-scale utilities and cash-rich asset owners to own operating renewable energy assets. The political pressure to own profitable sustainable assets is a key factor for many of these deals. AES Corporation and Alberta Investment Management Corporation (AIMCo), on behalf of certain of its […]


City Council Approved Medicine Hat Heritage Savings Fund

Medicine Hat is a city in southeast Alberta, Canada. In a 8-0 decision, the City Council of Medicine Hat has approved the creation of a Heritage Savings Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, February 21, 2017

SOURCES: China NSSF Has an Annual Average Investment Yield of 8.4% Since Inception China’s National Council for Social Security Fund (NSSF) has an annual average investment yield of 8.4% in the 16 years since it was founded. This is according to local Chinese news reports from an official of the organization. The news sources report […]


turkey

Hydropower Plants Next for Turkish SWF

The Turkish government seems to be moving more state-owned properties and assets into its new wealth fund, Turkey Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Nigerian Sovereign Wealth Gets $250 Million from ECA

Nigeria’s National Economic Council (NEC) has approved a fresh capital injection of US$ 250 million into the country’s sovereign wealth fund – Nigeria Sovereign Investment Authority (NSIA). The money is coming from Nigeria’s Excess Crude Account. At July 20, 2016, the excess crude account had US$ 3.93 billion in assets. In total, Nigerian President Muhammadu […]


SWFI First Read, February 8, 2017

MORE CONSOLIDATION: Unigestion Buys Akina Unigestion is acquiring Zurich-based Akina Ltd which has US$ 2.6 billion in assets under management. The deal gives Unigestion greater exposure to private market assets under management. The combined businesses will trade under the Unigestion name. Temasek Invests in Series G Round in CarTrade [ Content protected for Sovereign Wealth […]


Moelis Wins Advisory Role in Legendary Saudi Aramco IPO

Moelis & Co., a boutique investment bank, outmaneuvered its rivals to land the sole independent adviser role for the planned initial public offering (IPO) of Saudi Aramco, the state-owned oil colossus of Saudi Arabia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Lebanon Could Join the Sovereign Wealth Fund Community

Lebanon could have its own sovereign fund funded by oil and gas revenue. The Eastern Mediterranean region, specifically the Levant basin, is home to offshore oil and gas, as Israel, Egypt and Cyprus have already started developing its resources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


SWFI First Read, January 26, 2017

CPPIB Joins Investor Group to Bid for Shell’s North Sea Assets The Canada Pension Plan Investment Board (CPPIB), EIG Global Energy Partners and North Sea-explorer Chrysaor Holdings Ltd. are bidding together to acquire a portfolio of Royal Dutch Shell Plc’s U.K. North Sea assets for more than US$ 2 billion. Shell is on track to […]


Mubadala and IPIC Officially Merge

On January 21, 2017, Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi, issued a law creating the Mubadala Investment Company, a company wholly-owned by the government of Abu Dhabi. Mubadala Investment Company is now the parent entity of both the International Petroleum Investment Company (IPIC) and Mubadala Development Company and their respective […]


Masdar Acquires a 25% Stake in an Offshore North Sea Wind Farm

Masdar, a clean energy company owned by Abu Dhabi-based Mubadala Development Co., acquired a 25% ownership stake in Hywind Scotland from Norwegian oil giant Statoil. Hywind Scotland is a 30 MW floating offshore pilot wind farm development in the North Sea, near Peterhead in Aberdeenshire. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


Follow the Money – Episode 30

This is Michael Maduell’s first podcast since the New Years. Maduell and Pether discuss the results of SWFI’s League Table report for 2016. The podcast goes into direct investments in the U.S. and the opportunity for the government to embrace institutional investors’ insatiable desire for it. Pether goes in talking about developments in China and […]


Powering Australian Renewables Fund Buys Silverton Wind Farm

The Powering Australian Renewables Fund (PARF) acquired the 200 MW Silverton wind farm project in New South Wales from AGL Energy Limited. The PARF is financially backed by Australia’s Future Fund, QIC (QIC Global Infrastructure Fund) and AGL Limited. AGL had provided US$ 200 million in equity funding to the PARF. [ Content protected for […]


SWFI First Read, January 17, 2017

Carlyle Group to Become Largest Shareholder in Global Credit Ratings The Carlyle Group is poised to acquire nearly half of the equity of Johannesburg-based Global Credit Ratings (GCR), making the private equity firm the largest shareholder in the company. GCR is a ratings agency focusing on Africa. The sellers are Deutsche Investitions und Entwicklungsgesellschaft (DEG) […]


SWFI First Read, January 12, 2017

Temasek Invests in Latest Equity Round in Funding Circle London-based Funding Circle, which recently landed an additional lending mandate with the British Business Bank, has raised £82 million in equity capital. Leading this latest equity round is Accel. Other existing investors also contributed capital including Baillie Gifford and Temasek Holdings. Aabar Looks to Maintain its […]


Another American Wind Investment Stumble for Foreign Asset Owners

Wind renewable investments are creating more headwinds for foreign asset owners. A joint company called Papalote that is owned by PensionDanmark and German energy giant E.ON is going to U.S. court to attempt a recovery of roughly US$ 300 million in losses over a dispute. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


Rosneft Inks Oil Supply Deal with QHG Trading LLP

Russian oil giant Rosneft finalized its agreement with QHG Trading LLP, a company tied to the Qatar government and commodities trader Glencore Plc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Bpifrance Backs Marine Renewable Energies

Paris-based DCNS S.A., an industrial group specialized in naval defence and energy, and Bpifrance’s fund called Société de Projets Industriels (SPI) formed DCNS Energies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Kuwait Government to Sell Shares in Az-Zour Project

As the population of Kuwait grows, demand for electricity and water has been increasing. The Az-Zour North Independent Water & Power Project is a significant development occurring about 100 kilometers south of Kuwait City. On November 26, 2016, the power project portion was completed, giving the region a 1,500 MW natural gas-fired combined cycle power […]


doha sovereign wealth fund

QIA May Sell Shares of Rosneft to Originally Interested Parties

The Russian government’s 19.5% stake sale in Rosneft drew the interest of global institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]