Energy

Alaska Permanent Fund Board Rejects Oil Tax Credit Investing

The Board of the Alaska Permanent Fund Corporation (APFC) rejected a proposal by Alaskan Governor Bill Walker. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, September 20, 2016

Russian Reserve Fund Faces Depletion Russia’s Reserve Fund could be used up by the middle of 2017. The Russian government is burning through its foreign exchange reserves, as oil prices remain low for the country. SWF-Backed Greenko to Buy Some Assets of SunEdison India Hyderabad-based Greenko is buying some 438MW of operating assets from the […]


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ICICI Bank Invests in Resurgent Power Ventures

ICICI Bank Ltd (Bahrain branch) is picking up a 10% ownership stake in Resurgent Power Ventures, a platform formed by ICICI Group and Tata Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Khazanah Seeks to Sell More Shares in Tenaga Nasional

Khazanah Nasional Bhd is selling a portion of its ownership interest in Tenaga Nasional Bhd, a Malaysian power utility. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Mubadala Weathers Commodity Storm with Small Loss for 1H 2016

Abu Dhabi-based Mubadala Development Co., a state-owned entity tasked with assisting to diversify Abu Dhabi’s economy from oil & gas, posted a 4.43 billion AED (US$ 1.2 billion) loss in the first half of 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, September 7, 2016

UPDATE: Petrobras Agreeing to Sell 90% of its Natural Gas Pipeline Unit Petroleo Brasileiro SA, also known as Petrobras, has agreed to sell 90% of its natural gas pipeline unit to a group of investors that is being led by Brookfield Asset Management Inc. for US$ 5.2 billion. Other investors in the group include the […]


Gulf Sovereign Fund Bets on Congo Mining Opportunity

A number of the Gulf-based sovereign wealth funds remain opportunistic institutional investors when it comes to the mining sector. Low-cost potash producers have drawn interest from institutional and corporate investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Gulf Investors Eye Russia’s Bashneft Privatization

The Russian Direct Investment Fund (RDIF) seeks to partake in the privatization of PJSOC Bashneft an oil producer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi Aramco Seeks to Extend Crude Oil Storage in Okinawa

The steady supply of oil and natural gas remain essential for Japan’s economy and national security. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Korea’s National Pension Service Invests in Colorado Solar Power Plant

On August 26, 2016, Korea Electric Power Corporation (KEPCO) inked an agreement to acquire a 30 mega watt solar power plant from Cogentrix Solar Holdings, LLC for US$ 35 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, August 30, 2016

Reserve Bank of India Approves CPPIB Ownership Stakes in Kotak Mahindra Bank The Reserve Bank of India (RBI) approved the Canada Pension Plan Investment Board (CPPIB) to nearly double its holding of Kotak Mahindra Bank. CPPIB has a 4.89% ownership stake in the Indian bank which it bought in multiple tranches. In March 2016, CPPIB […]


What is the Status on GIC’s Investment in Arrium?

Companies in the Australian commodity sector have taken a beating for quite some time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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AIMCo Invests in Howard Energy Partners

Alberta Investment Management Corporation (AIMCo), a public investor that also oversees Alberta’s Heritage Fund, agreed to buy up to US$ 500 million of Series B Preferred Units of San Antonio-based, Howard Midstream Energy Partners, LLC (Howard Energy Partners). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 19, 2016

Temasek Sells 21% Stake in Intouch Holdings to Singtel Singapore’s Temasek Holdings, through its sovereign wealth enterprises, is selling a 21% stake in Intouch Holdings, a Thailand telecommunications conglomerate formerly known as Shin Corporation, to Singtel for S$ 2.47 billion. Singtel is 51% owned by Temasek. Singtel is funding the transaction by issuing short-term debt, […]


Danish Labor Investor PKA Backs Massive Biomass Plant in UK

Danish labor-market pension entity Pensionskassernes Administration A/S (PKA) has invested in the world’s largest new-build biomass plant. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Abu Dhabi Investment Council and Vitol Reduce Exposure to Fuel Retailer Business

Viva Energy REIT made its debut on the stock market in Australia, having its initial public offering on August 10, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


STEPS: Saudi Aramco Names Wealth Fund Head to Board

Saudi Arabia’s Public Investment Fund (PIF) has undergone a level of change over the past two years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Kuwait Posts First Budget Deficit Since FY 1999

The wealthy Gulf Arab monarchies are in trying times as oil revenues continue to waiver. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ontario Teachers Invests in Midstream Assets in NE Texas and North Louisiana

Ontario Teachers’ Pension Plan (OTPP), New York-based RedBird Capital Partners LLC and Dallas-based Aethon Energy Management LLC are buying Addison, Texas-based J-W Energy’s oil & gas upstream and midstream assets located in northeast Texas and north Louisiana. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Will the Oil Retreat Shift Sovereign Fund Allocation?

Russia, Abu Dhabi and Norway seem to think so. For the first time since April 2016, the price of oil dipped below US$ 40 per barrel – causing headache among some oil-based sovereign funds. Tumbling down from a June 2016 high of US$ 51.23 per barrel, oil prices then reversed course. The price of oil […]