Energy

Kuwait Sovereign Wealth Fund and Macquarie Set to Acquire Spanish Utility Assets

Germany’s largest power company E.ON SE is set to sell its Spanish assets to Macquarie Group and Wren House Infrastructure Management, a sovereign wealth enterprise of the Kuwait Investment Authority (KIA). E.ON’s Spanish assets attracted the likes of investors such as CVC Capital Partners, Morgan Stanley Infrastructure, Borealis, First State Investments and Endesa. [ Content [...]


GOING NUCLEAR: China’s Biggest Nuclear Power Operator Seeking to IPO in Hong Kong

State-owned CGN Power Co. (China General Nuclear Power Group), China’s largest nuclear power plant operator, is seeking to raise US$ 3.16 billion in its Hong Kong initial public offering (IPO). CGN is under China’s State-owned Assets Supervision and Administration Commission (SASAC).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


oil

How Iran Will Cope with Falling Oil Prices

In mid-November, Iranian Oil Minister Bijan Namdar Zanganeh embarked on a fact-finding visit to its gulf neighbor, the United Arab Emirates. Iran and other oil-producing nations are meeting to address the global falling price of crude oil. Earlier in the month, Minister Zanganeh visited Kuwait and Qatar. [ Content protected for Sovereign Wealth Fund Institute [...]


Cheniere Energy Gets Capital for Corpus Christi Liquefaction Project

On November 11, 2014, Cheniere Energy, Inc. got locked in a subscription agreement with RRJ Capital II Ltd., in which funds managed by RRJ Capital will acquire US$ 1 billion in unsecured convertible PIK notes issued by Cheniere. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


roads

UK Osborne Keen on Shale Gas-Backed Sovereign Wealth Fund

George Osborne, UK Chancellor of the Exchequer, commented on BBC Radio 4 that shale gas extraction revenues could be held in a sovereign wealth fund. The UK is looking at ways to lower its dependence on oil imports, while creating a savings vehicle from taxable earnings, like its northern neighbor Norway. Osborne said, “That’s a [...]


IPIC and Orascom Construction Seek to Build Coal-Fired Plant in Egypt

International Petroleum Investment Company (IPIC) and Orascom Construction, an Egyptian engineering and construction firm, have plans to develop, build and run a coal-fired power plant in Egypt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


New Mexico State Investment Council Commits to Blackstone Energy Fund

Energy focused private equity funds have gained significant traction among public pensions and sovereign wealth funds. Over the past 5 years, private equity funds have moved away from renewable energy investments to shale gas plays in North America. In fact, in 2011, Blackstone scrapped the idea of creating a dedicated cleantech fund. Big private equity [...]


China and Oman to Invest in Bagamoyo Port Infrastructure

The Government of Tanzania is hoping to construct a large port in the city of Bagamoyo which is 47 miles north of Dar es Salaam. The port is being primarily funded by China and construction will start by July 15, according to a statement from the President of Tanzania’s office. The port project could cost [...]


Warburg Pincus Raises $4 Billion for Energy Fund

New York-based Warburg Pincus LLC raised US$ 4 billion for its Warburg Pincus Energy Fund, beating its target raise of US$ 3 billion. High profile executives at the firm include former U.S. Treasury Secretary Tim Geithner as president. The team at Warburg Pincus began marketing the fund in November 2013. The fund is backed by [...]


london

Tory Peer Proposes Sovereign Wealth Fund Amendment to UK Infrastructure Bill

Lord Hodgson of Astley Abbotts, a Tory peer, proposed an amendment to the UK infrastructure bill. In it, Hodgson entails the formation of a soverign wealth fund being funded by shale gas revenue. Hydraulic fracturing, also known as fracking, could provide the UK with a boom in energy revenue. According to the Associated Press (AP), [...]


Group Led by bcIMC and Macquarie to Acquire Cleco

An institutional investor group led by British Columbia Investment Management Corporation (bcIMC) and Macquarie Infrastructure and Real Assets are acquiring Pineville-based Cleco Corporation, a public utility holding company. Cleco owns the regulated asset, Cleco Power LLC. There are other investors in the group such as John Hancock Financial. Institutional investors are attracted to public utilities [...]


PROMOTION: Mubadala Petroleum Has a New CEO

Mubadala Petroleum, a sovereign wealth enterprise of Mubadala Development Co, has promoted Mussabeh Al Kaabi to be CEO. He succeeds Maurizio La Noce who will remain a senior adviser to the company’s energy platform reporting to Dr. Sultan Al Jaber, the platform CEO. Mussabeh Al Kaabi was the company’s chief growth officer, joining Mubadala Petroleum [...]


US Set to Beat Out Saudi Arabia in Liquid Petroleum Production

United States liquid petroleum production is on the brink of beating Saudi Arabia’s production for the first time since 1991. The American energy renaissance is fueled by a number of advances including new recovery technologies such as horizontal drilling and hydraulic fracturing “fracking”. Fracking is commonly used for shale gas and oil recovery. [ Content [...]


GIC and ArcLight Sell 6 Nat-Gas Plant Interests to Carlyle Group

The Carlyle Group has acquired 75.05% of the outstanding interests and operational control of Southeast PowerGen from Boston-based ArcLight Capital Partners and GIC Private Limited, one of Singapore’s sovereign wealth funds. Southeast PowerGen is a holding company of 6 natural gas-fired power plants in Georgia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


AMBITION: Singapore’s LNG Asian Trading Hub Dream

With the help of a sovereign wealth fund, Singapore is strategically positioning itself as a liquefied natural gas (LNG) trading hub. The island nation seeks to capitalize on the growing hunger of LNG from countries such as Japan, China, India and Thailand. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]


NSIA and Seven Energy Ink Deal

The Nigeria Sovereign Investment Authority (NSIA), through its gas and power funds managed on behalf of Nigeria’s Debt Management Office, has signed a commitment letter to invest at least US$ 100 million in senior secured notes issued by Nigeria-based Seven Energy International Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


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 [...]