Energy

SWFI First Read, June 22, 2016

Harvard Management Company Reduces Staff, Drops Direct Equity Investments Harvard Management Company (HMC) reduced staff and is discontinuing direct equity investments. The in-house equity group will merge with the fixed income, credit, and commodities group to form a single public-markets platform. 8 positions at HMC were eliminated in May, while 4 were eliminated this week. […]


Ahmed Saeed Al Calily Appointed Head of Mubadala Energy Group

Abu Dhabi-based Mubadala Development Company appointed Ahmed Saeed Al Calily as CEO of the group’s extensive energy platform which includes assets such as Mubadala Petroleum and Masdar. Calily will serve on Mubadala’s investment committee. Since 2009, Calily was Director General of the Abu Dhabi Technology Development Committee, a government entity focused on the development of […]


Kenmare Gets Backing from Oman SWF

Dublin-based Kenmare Resources plc, a global producer of titanium minerals and zircon, has been lining up investors for its restructuring. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


India deals

ADIA is Anchor Investor in Mahanagar Gas

Mahanagar Gas Limited, the sole supplier of natural gas in Mumbai and surrounding areas, raised Rs. 309.36 crore (US$ 46.02 million) by allocating shares to anchor investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CHERRY PICKING: Brookfield and Co-Investors Eye Brazil Gas Pipelines

In the current year, sovereign funds have been highly selective when it comes to investing in Brazil. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


sovereign wealth india

Asset Owners Form Resurgent Power

Three large asset owners formed Resurgent Power Ventures Pte. Ltd. as a platform to acquire distressed power assets that are plagued with high debt and fuel supply disruption problems. SWFI reported in February 2016 about the creation of an energy platform with Mumbai-based Tata Power and ICICI Venture. [ Content protected for Sovereign Wealth Fund […]


SWFI First Read, June 14, 2016

Ariel Re Up for Sale An investment bank was hired to put Ariel Re (Holdings) Limited up for sale. Ariel is 50% owned by BTG Pactual and 50% owned by the Abu Dhabi Investment Council. In July 2014, BTG Pactual bought its stake in Ariel. OMERS Ventures Invest in Series A in LEAGUE LEAGUE, a […]


AIMCo Strategically Finances Calfrac Well Services

The Alberta Investment Management Corporation (AIMCo) entered into a debt-with-warrants financing with Calfrac Well Services, an Alberta-based pressure pumping services provider, on behalf of certain of its clients. AIMCo sees significant value creation in Calfrac, as many energy companies in Alberta have been hit hard by the falling price of oil. Deal Specifics [ Content […]


CPPIB Backs LongPoint Minerals

The Canada Pension Plan Investment Board (CPPIB), through an affiliate of CPPIB Credit Investments Inc., is investing US$ 450 million in Denver-based LongPoint Minerals, LLC. LongPoint Minerals raised a total of US$ 525 million, in which US$ 75 million came from other investors. In addition, there will be a second closing within 60 days for […]


Greenko Energy Holdings Raises Equity from GIC and ADIA

India-based Greenko Energy Holdings, a renewable energy company, raised US$ 230 million in equity from Cambourne Investment Pte Limited, a sovereign wealth enterprise (SWE) of Singapore’s GIC Private Limited, and a SWE of the Abu Dhabi Investment Authority (ADIA). ADIA invested US$ 150 million in Greenko Energy Holdings, while GIC invested US$ 80 million. After […]


OMERS Backs Great Plains Takeover of Westar Energy

Kansas City-based Great Plains Energy Inc. is the parent of regulated power utility Kansas City Power & Light. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Sovereign Fund Flexes Muscle to Influence Corporate Change

Norway’s sovereign wealth fund is increasingly flexing its muscle to influence and alter the behavior of publicly-listed companies. The massive wealth fund, which derived its cash pot from crude oil, has an extensive corporate governance policy providing guidance on areas such as labor regulations, executive compensation, water management, environmental impact, munitions and bombs, and climate […]


Massive Scottish Offshore Windfarm Project Gets Greenlight

PensionDanmark finalized its first investment in a £2.6 billion Scottish offshore windfarm dubbed Beatrice Offshore Windfarm Ltd. PensionDanmark made the investment through the Copenhagen Infrastructure Partners’ I and II funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 23, 2016

Bayer Bids for Monsanto Leverkusen-based Bayer AG put out an unsolicited US$ 62 billion all-cash offer to acquire St. Louis-based Monsanto Co. Altico Capital Closes on 2 Indian Residential Deals Altico Capital, a non-banking finance company backed by Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners, closed two real estate deals in India. […]


RDIF and Vietnam’s SCIC Form Co-Investment Platform

The Russian Direct Investment Fund (RDIF) inked a Memorandum of Understanding with Vietnam’s State Capital Investment Corporation (SCIC) to form a Russian-Vietnamese investment platform, similar to ones with China and South Korea. RDIF and SCIC will search for attractive investment projects in bilateral trade. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


SWFI First Read, May 17, 2016

Investec Asset management Wins Sub-Saharan Africa Infrastructure Mandate Investec Asset management won a mandate to manage a US$ 670 million fund called the Emerging Africa Infrastructure Fund (EAIF). The fund, which was founded in 2002, is a public-private partnership financially backed by a number of governments including Switzerland, United Kingdom, the Netherlands and Sweden. The […]


SWFI First Read, May 16, 2016

Russell Investments Forms New Global Client Strategy and Research Unit Seattle-based Russell Investments created a new team called the Global Client Strategy & Research team within its investment division. This new team will be led by Kevin Turner, a 21-year veteran of the company. He will report to Brian Meath, global chief investment officer, multi-asset […]


REPORT: The State of Russian Sovereign Wealth Fund Assets

Much has changed since a decade ago. Russia’s fast growing spurt in oil is now in a different phase, as the price of crude oil is impacting the country. Russia’s Ministry of Economic Development in a 2017-2019 study forecasts the amount of assets in both the Russian Reserve Fund and National Welfare Fund will fall […]


Sovereign Funds Augmented Direct Energy Investments in 2015

Despite falling oil prices and bubbles forming in solar energy stocks, sovereign wealth funds had increased exposure to allocating directly into energy sector investments before and after the equity market turmoil in December 2015, according to data from SWFI’s Sovereign Wealth Fund Transaction Database (SWFTD). Sovereign funds alone invested directly US$ 17.99 billion into the […]


Saudi General Grains Organization Seeks to Sell Stake

Saudi General Grains Organization (SAGO), previously called the General Silos and Flour Mills Organization, has put out the feelers to sell a stake to a strategic buyer, hiring HSBC to assist. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]