Government of Singapore Investment Corporation

SWFI First Read, June 21, 2017

Former Shutterfly CEO Joins Vision Fund Jeffrey T. Housenbold, the former CEO of Shutterfly, Inc., has joined SoftBank Group as a senior investing member of the massive Vision Fund. Bidders Lineup for Senior Housing Business of LendLease China-based Cindat Capital Management, The Blackstone Group and GIC Private Limited are among a group of suitors for […]

India deals

GIC and Blackstone Get Away with Rare Indian Dividend Recap

The Blackstone Group and Singapore’s GIC Private Limited did a dividend recapitalization with Bangalore-based Mphasis Limited, an Indian outsourcing company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Overseas Asian Wealth Fund Money Funds Permian Basin Natural Gas Project

Singapore’s GIC Private Limited is making a play to help finance energy development in the Delaware Basin. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

GIC Likes to Seed Former Employee Hedge Funds

Singapore’s GIC Private Limited has a history of seeding hedge funds of its former investment employees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, June 6, 2017

Turks and Caicos National Wealth Fund Bill Passes in House The Turks and Caicos National Wealth Fund Bill on May 31, 2017, had passed in the country’s House of Assembly. This wealth fund would be a non-commodity-based sovereign wealth fund. UBS Buys Majority Stake in Large Brazilian Multi-Family Office [ Content protected for Sovereign Wealth […]

SWFI First Read, May 29, 2017

CIC Appears to be in Front for Logicor Deal Some sources are reporting that the China Investment Corporation (CIC) could be the winning bidder for Logicor, the European logistics business of The Blackstone Group. Other bidders include Global Logistics Properties (GLP) and Temasek Holdings, along with Mapletree Investments. Blackstone hired Eastdil Secured to facilitate the […]

Follow the Money – Episode 37

Here is a short Follow the Money Show episode after a long-hiatus. This podcast was recorded on May 17, 2017. Download the Episode CONTENTS 1:15 GIC Selling Off its UBS Stake 3:30 Norway’s Sovereign Fund Expands Regent Street Partnership 4:50 One-Belt One-Road, Silk Road Fund Gets More Funding Follow the Money Show is available on […]

sovereign wealth india

GIC Invests in Capital First Partial Sell-Off

Private equity firm Warburg Pincus, through Cloverdell Investment Ltd., sold its 25% ownership stake in Capital First, a non-banking financial company in India, for roughly Rs 1,768 crore (US$ 275.4 million). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

GIC Unloads 2.4% of its UBS Stake

Update May 16, 2017, Lim Chow Kiat, Chief Executive Officer of GIC, “GIC made the UBS sale despite the loss because conditions have changed fundamentally since GIC invested in UBS in February 2008, as have UBS’ strategy and business. It makes sense now for GIC to reduce its ownership of UBS and to redeploy these […]

Why Sovereign Wealth Funds Love Real Estate

Despite Norway’s sovereign wealth fund having a hard time finding suitable properties in Tokyo and in other core Asian cities, sovereign investors in the aggregate have steadily put capital to work in real estate. Even micro sovereign funds like the one owned by the Republic of Nauru, has ownership in Houston office real estate. The […]

Sovereign Funds Ramp Up Healthcare Investments

With the United States experiencing an economic recovery, the healthcare industry is expected to prosper as it remains a significant proportion of the country’s gross domestic product (GDP). Sovereign investors are increasing positions in health-related industries such as pharmaceuticals, genome analysis and diagnostic technologies, while large Canadian pension plans have been investing in specialty healthcare […]

SWFI First Read, May 6, 2017

St. Kitts and Nevis and Norway Officials Discuss Sovereign Wealth Issues The Federation of St. Kitts and Nevis met with Norwegian government officials to discuss a host of issues. One such issue was the topic of sovereign wealth funds. Shell Asset Management Hires Patrick Groenendijk Shell Asset Management, the investment management unit for Shell’s pension […]

ADIA and GIC Invest in Pharmaceutical Product Development

Pharmaceutical Product Development, LLC (PPD) has been recapitalized by permitting the Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC Private Limited acquire minority ownership interests. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, April 26, 2017

HNA Group Takes Sizable Stake in Dufry Hainan-based conglomerate HNA Group inked a deal to acquire a 16.79% ownership stake in Dufry AG, a Swiss duty-free retail operator, for around 1.44 billion CHF. HNA acquired the Dufry stakes from both GIC Private Limited and Temasek Holdings, according to an exchange filing. National Bank of Abu […]

Virtu Financial to Acquire KCG, Backing from Wealth Fund Capital

High-speed trading firm Virtu Financial, Inc. signed a definitive agreement to acquire its rival KCG Holdings, Inc. in a cash transaction valued at US$ 20 per KCG share, or a total of approximately US$ 1.4 billion. Both the board of directors of Virtu Financial and KCG agreed to the transaction. Jefferies LLC, the largest shareholder […]

SWFI First Read, April 16, 2017

Starwood Capital Group to Acquire Forestar Group Affiliates of Starwood Capital Group inked a deal to buy Austin-based Forestar Group Inc. for US$ 605 million in equity value. Forestar Group is a residential and mixed-use real estate development company – owning around 4,600 acres of real estate across 10 states in the U.S. Forestar Group […]

SWFI First Read, April 13, 2017

CICC Finalizes China Investment Securities Transaction China International Capital Corporation Limited (CICC) finalized its acquisition of Shenzhen-based China Investment Securities Co. from Central Huijin Investment Ltd. for 16.7 billion RMB (US$ 2.5 billion). CICC bought 100% of the shares. The deal was signed and publicly released on November 4, 2016. Central Huijin Investment and related […]

SWFI – Movers and Shakers – April 11, 2017

INTERNAL: New Co-Heads of Global Capital Markets at BlackRock Asset manager giant BlackRock moved Ed Cook and Ben Spielman to be co-heads of global capital markets. Ed Cook is based in London, while Spielman is based in the United States. Ed Cook is Managing Director, Head of EMEA Capital Markets at BlackRock. Spielman has experience […]

CalPERS Seeks to Emulate the Reference Portfolio Concept

The California Public Employees’ Retirement System (CalPERS) is moving toward the reference portfolio model, emulating the likes of the Ontario Teachers’ Pension Plan (OTPP), Canadian Pension Plan Investment Board (CPPIB), GIC Private Limited and the New Zealand Superannuation Fund. Mega pension CalPERS has slowly reduced exposure to private equity over the past months. In April, […]

Are Institutional Investors Ready for BlackRock’s Big Data Pivot?

BlackRock is the world’s biggest publicly-traded investment manager, overseeing an excess of US$ 5 trillion in assets under management. The behemoth manager runs portfolios and sells products to some of the largest sovereign funds, pensions, endowments and other long-term asset owners. The lucrative days of traditional stock picking, also known as active equity management, for […]