Infrastructure
sovereign wealth deal

PSP Investments Forms ROADIS, a Global Road Platform

In a bid to end complexity, the Public Sector Pension Investment Board (PSP Investments), announced the completion of the split of Isolux Infrastructure Netherlands B.V. with Grupo Isolux Corsan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Buys 10 Percent of Indiana Toll Road Concession

California Public Employees’ Retirement System (CalPERS) acquired a 10% stake in the Indiana Toll Road Concession Company LLC (ITRCC) from global fund manager IFM Investors, through its IFM Global Infrastructure Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Korean Institutional Investors Seek Exposure to Natixis-Originated Loans

Korean institutional investors plan to get more exposure toward infrastructure and aviation debt. Samsung Life Insurance Co., Ltd. and Samsung Asset Management Co. agreed to invest US$ 500 million in infrastructure and aviation debt over a period of five years in loans originated by Natixis S.A. [ Content protected for Sovereign Wealth Fund Institute Standard […]


SWFI First Read, April 30, 2016

PROMOTION: Cambridge Associates Names New CEO Cambridge Associates promoted its president and head of global investments David Druley to chairman and CEO. This will be effective July 1, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 26, 2016

CDPQ Announces Major Infrastructure Project CDPQ Infra, a subsidiary of Caisse de dépôt et placement du Québec (CDPQ), announced plans for its Réseau électrique métropolitain (REM), an integrated public transportation project. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC to Become Minority Owner in the Biggest U.S. Indie Electric Trans Company

On February 9, 2016, Canada-based Fortis Inc., an international diversified electric utility holding company, had announced they planned to acquire Michigan-based ITC Holdings Corporation, the largest independent electric transmission company, in a transaction valued at approximately US$ 11.3 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


REVEALED: CalPERS New Real Assets Program

The California Public Employees’ Retirement System (CalPERS) adopted a new strategic plan for its massive real assets program. CalPERS is a major institutional investor in real estate investing in core funds, joint ventures and co-investing in major properties. CalPERS is seeking to reign in risk, while reducing complexity and costs. Institutional investors are facing a […]


SWFI First Read, April 18, 2016

Gerald Keefe to Head APAC Corporate Banking for Citigroup Citigroup Inc. selected Gerald Keefe as its Hong Kong-based head of corporate banking for the Asia-Pacific region. This is a new role. Keefe pivots from his current job as head of corporate banking for Japan. Keefe will report to both Mark Slaughter, head of Asia-Pacific corporate […]


SWFI First Read, April 6, 2016

Societe Generale Seeks to Cut 128 Jobs in Banking and Investor Solutions Division French bank Societe Generale may cut 128 jobs in its Global Banking & Investor Solutions division, according to the CGT union. The layoffs are part of a cost-saving plan that was announced by Societe Generale in 2015. Citi Wins Custodial Mandate from […]


Norway SWF to Boost Allocation to Real Estate to 7%

Norway’s Ministry of Finance plans to modify Norway’s Government Pension Fund Global (GPFG) upper limit to real estate allocation from 5% to 7%. In addition, the Finance Ministry is not prepared to permit the GPFG to invest in unlisted infrastructure. Institutional Investor Profile of Norway’s SWF [ Content protected for Sovereign Wealth Fund Institute Standard […]


SWFI First Read, April 3, 2016

SunEdison Plans to File for Bankruptcy Protection The once darling of hedge funds and other institutional investors, solar-energy company SunEdison Inc., plans to file for bankruptcy protection in future weeks. SunEdison became one of the largest developers of renewable power plants in the United States by taking advantage of cheap funding and financial engineering by […]


SWFI First Read, March 31, 2016

GIC and Brigade Group JV Acquire Kansai Nerolac Land Bengaluru-based property developer Brigade Group and Singapore’s GIC Private Limited, through their joint venture vehicle Perungudi Real Estates, are purchasing a 16-acre asset in Chennai’s Perungudi area from Kansai Nerolac Paints for Rs 537.86 crore. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


SWFI First Read, March 16, 2016

London Stock Exchange Group and Deutsche Bourse Agreed to Merge The London Stock Exchange Group and Deutsche Bourse publicly announced plan to combine in a merger of equals. The combined entity would be based in London. The deal is an all-share deal and form a holding company for both companies called UK TopCo. 54.4% of […]


Morgan Stanley Understands Public Funds’ Hunger for Infrastructure

Morgan Stanley announced they raised US$ 3.6 billion for its second infrastructure fund called North Haven Infrastructure Partners II (NHIP II). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 1, 2016

Norway is in Spend Mode Norway’s Ministry of Finance plans to not have a tighter budget for 2016. The country is also looking to tap into its massive sovereign wealth funds, Norway’s Government Pension Fund Global (GPFG). For 2017, there could even be a larger cash exodus from the wealth fund. Norway’s government has pushed […]


London City Airport Acquired by Kuwait SWF and Canadian Pensions

Wren House Infrastructure Management Limited, the sovereign wealth enterprise of the Kuwait Investment Authority (KIA), along with Ontario Teachers’ Pension Plan (OTPP), Borealis Infrastructure (a unit of OMERS) and, the Alberta Investment Management Corporation (AIMCo), won a bid to acquire the company that owns and operates London City Airport for approximately £2 billion (US$ 2.8 […]


CAUTION: A New Path for the Korea Investment Corporation

The Korea Investment Corporation (KIC) is under a new manager and that means new processes, new people and new priorities. Still, the wealth fund plans to grow allocation to alternatives assets, such as private equity, real estate and infrastructure, as quantitative easing (QE) policies punish investors in “conservative assets”. In addition, KIC is to undergo […]


SWFI First Read, February 22, 2016

STREAMLINE: Raymond James Financial Forms Carillon Tower Advisors Raymond James Financial Inc. created a new company to oversee a number of asset managers called Carillon Tower Advisors Inc. which will be based in St. Petersburg, Florida. Carillon Tower Advisors will serve as the parent to San Diego-based ClariVest Asset Management LLC, Toronto-based Cougar Global Investments […]


tibbles

Friday SWFI News Roundup, February 19, 2016

Ardian Infrastructure to Bid for 2 French Regional Airports Ardian Infrastructure confirmed its application to bid in the upcoming tender for the privatization of the Nice Côte d’Azur Airport. Ardian Infrastructure will bid as part of a consortium of French and international investors. Ardian Infrastructure is a key shareholder of London Luton airport, which is […]


Wealth Funds Get Access to Brooklyn Energy Infrastructure

Yes, foreign sovereign wealth funds are investing capital into U.S. infrastructure. However, much of that capital goes toward developed energy infrastructure. For example, Singapore’s GIC Private Limited has been an institutional investor in Duquesne Light Holdings, an electric utility that purchases, transmits, and distributes electric energy to customers in southwestern Pennsylvania. The Asian sovereign investor […]