Energy

Castleton Commodities to Acquire Morgan Stanley’s Physical Oil Business

Stamford-based Castleton Commodities International LLC will acquire the physical oil business of Morgan Stanley. The price of Morgan Stanley’s oil trading and storage unit was rumored to be around US$ 1 billion to US$ 1.5 billion in an all-cash purchase. Trading house Castleton Commodities raised funds from existing company investors and through a US$ 3.5 [...]


Friday SWFI News Roundup, May 8, 2015

Singapore’s CPF Chief Investment Officer Joins Mercer Chua Boon Lee, the former Chief Investment Officer of Singapore’s Central Provident Fund (CPF), is joining Mercer’s investment consulting business in Singapore as a principal. Mercer has been going under a re-organization globally. Chua will report to Soon Kian Lee, Mercer’s ASEAN business head. ADIA Sells Shares in [...]


CDPQ Partners With GE to Buy Southern Star Central Corp

Morgan Stanley Infrastructure, the infrastructure arm of Morgan Stanley, has sold Kentucky-based Southern Star Central Corporation to a group of investors which include affiliates of GE Energy Financial Services and Caisse de dépôt et placement du Québec (CDPQ). Founded in 1904, Southern Star is a FERC-regulated interstate natural gas transmission and storage system, consisting of [...]


PGGM, Gingko and Others Acquire Madrileña Red de Gas

Morgan Stanley Infrastructure, a unit of Morgan Stanley, and other shareholders are selling a 100% interest in Madrileña Red de Gas (MRG) to a group led by EDF Invest, Gingko Tree Investment Ltd, and Dutch pension fund manager PGGM. The deal is valued at around US$ 1.34 billion. [ Content protected for Sovereign Wealth Fund [...]


Silk Road Fund Commits $1.65 Billion in Pakistan Hydro Project

China’s US$ 40 billion Silk Road Fund Co Ltd announced its first project investment on April 20, 2015. The US$ 1.65 billion investment will go toward the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives – a massive economic undertaking to link China with key parts of the world. Silk Road [...]


Kazakhstan’s Samruk-Kazyna Sees Opportunity in Silicon Valley

Kazakhstan’s Samruk-Kazyna, a strategic development sovereign wealth fund (SDSWF), is analyzing whether to open an overseas office in Silicon Valley. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Shell London

Norway’s SWF to Vote on Climate Change Disclosure for BP and Shell

Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, intends to vote in favor of special shareholder resolutions at the general meetings of energy titans BP and Royal Dutch Shell. These resolutions call for listed companies to detail risk and opportunities associated with climate change and have it incorporated into their annual reports. [...]


Kurdistan Passes Oil & Gas Revenue Fund Law

In the city of Erbil, miles away from the ongoing ISIS conflict, Kurdistan’s Ministry of Natural Resources (MNR) was pleased with the passage of the Oil & Gas Revenue Fund Law by the Kurdistan parliament known locally as Perlemanî Kurdistan. To safeguard oil revenues, the MNR is keen on implementing the law as soon as [...]


Friday SWFI News Roundup, April 10, 2015

Does this cute cat have your attention? Here are the roundups for April 10th. Investment Corporation of Dubai Invests in 3 Luxury Hotels Gulf sovereign wealth funds are betting big on luxury hotel properties. The Investment Corporation of Dubai (ICD) invested in three luxury hotels – two in the United States and one in South [...]


Royal Dutch Shell to Acquire BG for £47 Billion

Oil giant Royal Dutch Shell Plc has agreed to acquire Reading-based BG Group Plc for approximately £47 billion (US$ 70 billion) in cash and shares. BG buys, ships, markets and sells liquefied natural gas (LNG). According to the press release, BG shareholders will receive 383 pence a share in cash, plus 0.4454 B shares in [...]


infrastructure

APG and CalSTRS Form Infrastructure Alliance, Brings Argo Infrastructure

Dutch-based manager APG Asset Management NV, owned by Stichting Pensioenfonds ABP, and California State Teachers’ Retirement System (CalSTRS) formed an infrastructure investment alliance – a popular trend among giants. These alliances are becoming more commonplace as asset owners and other institutional investors are teaming up identify suitable investments, compete for bigger deals and share risk [...]


UK Green Investment Bank Gets Money for Offshore Wind Fund

The UK Green Investment Bank plc (GIB), through its FCA regulated subsidiary UK Green Investment Bank Financial Services Limited, had its first close on commitments of £463 million. The fund is targeting £1 billion. The capital will be used to invest in operating offshore wind farms in the United Kingdom. Renewable energy investing such as [...]


Gulf Sovereign Wealth Fund Gets LATAM Infrastructure Exposure

Gas Natural Fenosa, a Spanish distributor of gas and electricity, through its newly-formed subsidiary Global Power Generation (GPG), is working with a Gulf sovereign wealth fund to boost its international presence overseas in markets such as Latin America. Gulf sovereign wealth funds have dedicated extensive resources toward the asset class of infrastructure. [ Content protected [...]


INVESTORS: 5 Key Takeaways from the 2015 WSJ ECO:nomics Event

  It is early evening Wednesday, March 25th, and I witnessed a flow of luxury cars drive through the gates of the Bacara Resort in Santa Barbara – the site of the 2015 ECO:nomics conference hosted by The Wall Street Journal. The conference is a must-attend, social gathering for green innovators, executives, policymakers, investors and [...]


CIC Makes Strategic Investment in Uranium Mining Company

Currently, China has 27 nuclear reactors under construction. The Asian giant’s nuclear programme possessed 18 GW of nuclear energy capacity in 2014, determined to hit 58 GW by 2020. The demand from China, India and the Middle East are elevating uranium prices, catching up to pre-Fukushima levels. Perth-based Paladin Energy Ltd, a Uranium explorer and [...]


Carlyle Stacks Up $2.5 Billion for International Energy Fund

The Carlyle Group closed its first private equity international energy fund at US$ 2.5 billion attracting sovereign wealth funds and pensions – totaling around 160 investors. The fund, Carlyle International Energy Partners (CIEP), started raising capital back in the middle of 2013. By August 2014, Carlyle raised US$ 1.86 billion in commitments for CIEP. Adding [...]


Fondo Strategico Italiano in Talks with KIC on Joint Investment Fund

Fondo Strategico Italiano (FSI) is in negotiations with Korea Investment Corporation (KIC) to create a €1 billion investment fund – according to various Italian media sources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Key Saudi Oil Adviser Warns on Herd Mentality

Ibrahim Al-Muhanna, advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia, gave a keynote at the Washington, DC-based Institute of International Finance conference in Doha on March 14th. Al-Muhanna had interesting insights on oil prices, OPEC and markets. Al-Muhanna reiterated there was no political motive behind Saudi Arabia’s decision to not cut [...]


South Africa’s Public Investment Corporation Backs Xina Solar One

Spain-based Abengoa, S.A. reached a deal with South Africa’s Public Investment Corporation (PIC), Industrial Development Corporation (IDC), a development finance institution owned by the South African government, and Kaxu Community Trust, on the closing of a non-recourse project financing arrangement for Xina Solar One, located in the Northern Cape province. [ Content protected for Sovereign [...]


QIA and KIC to Form $2 Billion Investment Fund

The Korea Investment Corporation (KIC) has made a substantial effort to form joint funds and investments with foreign institutional investors like Kingdom Holding and sovereign wealth funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]