Energy

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 […]


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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. ]


Iran’s Wealth Fund Could Get More Money, Boeing Deal Negotiated

Iran’s Majlis, also known as parliament, has voted to increase the National Development Fund’s share of the country’s crude oil. The increase is going to 30% from the previous 20%. This is part of Iran’s 6th five-year development plan (2016-21). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


SWFI First Read, December 24, 2016

The Silverfern Group Invests in Broad River Energy Center Located in South Carolina On December 20, 2016, The Silverfern Group, finalized its acquisition of Broad River Power Holdings, an 878 MW dual-fuel, simple-cycle gas turbine electric power plant strategically located 40 miles from Charlotte, North Carolina, in partnership with Texas-based Arroyo Energy Investment Partners LLC. […]


AIMCo Buys Ownership Stake in Howard Energy Partners

On December 20, 2016, the Alberta Investment Management Corporation (AIMCo) acquired a 28% ownership stake in Texas-based Howard Energy Partners from EnLink Midstream Partners, LP. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BP Renews Concession in Abu Dhabi’s ADCO

On December 17, 2016, BP p.l.c. renewed its 40-year onshore concession in Abu Dhabi. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Silk Road Fund to Take Minority Interest in SIBUR Holding

China’s Silk Road Fund is acquiring a 10% equity ownership interest in PJSC SIBUR Holding, a Russian vertically integrated gas processing and petrochemical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, December 14, 2016

Standard Life Investments Names Archie Struthers as Head of Investments Bill Lambert, the Head of Investments of Standard Life Investments, is retiring in March 2017. Taking his spot is Archie Struthers who was named Head of Investments, effective January 9, 2016, for Standard Life Investments. Struhers will report to the company’s chief investment officer Rod […]


Silk Road Fund Optimistic with Clean Coal in Dubai

In August, U.S. industrial behemoth General Electric (GE) and Harbin Electric International Company Limited signed an engineering, procurement and construction (EPC) agreement to start phase one of constructing a clean coal power plant in Dubai. The Hassyan plant is near Dubai’s border with Abu Dhabi and looks to be fully operational by 2023. This would […]


Sinopec Agrees to Sell $3.3 Billion Pipeline Stake to China Life and SDIC Division

China Petroleum & Chemical Corporation (Sinopec) has sold a 50% ownership stake in a pipeline unit, Sinopec Sichuan-to-East China Gas Pipeline Co., to two investors, China Life Insurance Co. and a division of the State Development & Investment Corporation (SDIC) called SDIC Communications Holding Co., Ltd. for a total of 22.8 billion RMB (US$ 3.3 […]


Pension-Backed Ancala Partners Invests in North Sea Gas System and Pipeline

European institutional investors are keen on investing in infrastructure deals where there is a natural monopoly with long-term inflation-protected agreements. London-based Ancala Partners LLP, through its Ancala Midstream subsidiary, is buying an ownership interest into a North Sea gas system and pipeline. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


RDIF Supports Offshore Wind Farm Investment in the White Sea

The Russian government is going forward with investing in offshore wind farms. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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Russia Sells Large Rosneft Stake to Qatar SWF and Glencore

The Russian government spent considerable time, effort and resources meeting with more than 30 potential buyers from around the world with regard to its partial stake sale in oil giant Rosneft PJSC. In May 2016, Intesa Sanpaolo SpA, a major Italian bank, was hired to advise the Russian government on its 19.5% stake sale in […]


Progress on Saudi Aramco’s IPO Inches Forward

With equity capital markets taking a different turn in recent weeks, Saudi Arabia is getting closer for its initial public offering (IPO) of Saudi Arabian Oil Company (Saudi Aramco), a state-owned oil monopoly, for the domestic market. Furthermore, there is a key reason why Saudi Arabia changed its mind and reasoned that the Organization of […]


Ithmar Capital and NSIA Back Trans-Africa Pipeline

The Trans-African Pipeline project, an endeavor that will involve joint developing a new regional gas pipeline connecting Nigeria to Morocco, is currently slowly moving forward. The pipeline development hopes to stimulate large-scale economic growth across west Africa. In addition, the pipeline should be able to boost energy exports to continental Europe, linking Nigerian gas to […]