$3.39 Trillion Allocated to Equities by Sovereign Funds in 2016

The Sovereign Wealth Fund Institute (SWFI) research team estimates that at the end of 2016, US$ 3.39 trillion was being allocated to the listed equity asset class, an increase from 2015. There was also slightly increased asset allocation percentages in private equity, real estate and infrastructure, with fixed income facing a pullback. Sovereign fund allocation […]

Plans for Saudi Public Investment Fund to Inherit Airports and Other Aviation Assets

As part of the massive privatization efforts by the Saudi Arabian government, the Riyadh-based Saudi Civil Aviation Authority plans to turn a number of airports into companies to improve accountability and transparency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Fiera Capital President Leaves

Sylvain Brosseau, Global President and Chief Operating Officer of Canada-based Fiera Capital Corporation, has resigned from the company. Taking his place in the interim is Jean-Guy Desjardins. Brosseau will continue to be a member of Fiera Capital’s Board of Directors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]

GE Transportation Buys 50% Stake in Lokomotiv Kurastyru Zauyty Joint Venture

GE Transportation, part of American industrial conglomerate General Electric, finalized the acquisition of a 50% ownership interest in Astana, Kazakhstan-based Lokomotiv Kurastyru Zauyty JSC (LKZ), a locomotive manufacturer and marketer from KTZ (Kazakhstan Temir Zholy). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

OMERS Directly Invests in Politically-Important Chile LNG Terminal

OMERS had embarked on its inaugural direct infrastructure investment in South America, investing in a major liquefied natural gas (LNG) terminal in Chile. The LNG terminal is located in Quintero Bay, 160 kilometers northwest of Santiago. Notably, the terminal is the southern hemisphere’s first land-based terminal dedicated to the receiving, unloading, storage and regasification of […]

SWFI First Read, April 11, 2017

J.P. Morgan Asset Management to Acquire Beacon Rail Leasing J.P. Morgan Asset Management has agreed to buy Beacon Rail Leasing, a U.K. rolling stock leasing company, from London-based Pamplona Capital Management (through Pamplona Capital Partners III), for £855 million. Pamplona Capital Management started a bidding process for the asset in November 2016. The private equity […]

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, […]

SWFI First Read, April 7, 2017

Darryl Murphy Named Head of Infrastructure Debt at Aviva Investors Aviva Investors hired Darryl Murphy as head of infrastructure debt on the alternative income solutions team. He will oversee a team of 20 infrastructure debt professionals. Previously, Murphy was a Partner at KPMG working in the U.K. corporate finance unit focusing on the power and […]

Cheung Kong Property Acquires Reliance Home Comfort

Billionaire Li Ka-Shing, through his company Cheung Kong Property Holdings Ltd., is boosting investments in Canada. The Li family trust is the biggest shareholder in Cheung Kong Property Holdings, which through a subsidiary called CKP (Canada) Holdings Ltd. acquired Reliance Home Comfort L.P. from Alinda Capital Partners LLC for C$ 2.82 billion (US$ 2.1 billion). […]

British Airways Qatar

Fresh Off Article 50, Heathrow to Get More Money from Shareholder Base

Fresh after the handing off of Article 50, institutional investors are moving forward pouring an additional £650 million into improving Heathrow Airport. Heathrow Airport is home to more than 80 airlines. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, March 29, 2017

CIT Finances Battery Storage System in Los Angeles CIT led the non-recourse project financing of a 50 megawatt fleet of behind-the-meter, battery storage systems located in certain grid-constrained pockets of the West Los Angeles Basin. Macquarie Capital had acquired the asset from Advanced Microgrid Solutions in August 2016. Since the August acquisition, Macquarie and Advanced […]

Greenko Energy Gets More Sovereign Fund Cash

Greenko Energy Holdings, an Indian renewable energy company that is domiciled in Mauritius, received another fresh capital injection from sovereign wealth funds. Greenko is getting US$ 123.9 million from a sovereign wealth enterprise (SWE) of Singapore’s GIC Private Limited, while an Abu Dhabi Investment Authority (ADIA) SWE is committing US$ 31.1 million. GIC remains the […]

SWFI First Read, March 22, 2017

Standard Life Investments Hires Former SSgA Executive for Strategic Relationships Role Standard Life Investments, the investment management unit of Standard Life Plc, hired Larry Carlson to be director of strategic relationships. He will be based in Boston and report to Jack Boyce, the firm’s managing director and head of North America distribution. Previously, Carlson worked […]

Toll Road Operator 407 International Raises Senior Notes

407 International Inc. is the operator of the Ontario toll highway Highway 407. 407 International has issued C$ 250 million in 3.43% senior notes (Series 17-A1) from its C$ 1.8 billion medium-term notes program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

China and the U.S.: The Next Two Years for Institutional Investors

A lot can happen in two years. Look what just happened in the final five months of 2016. Even the most sophisticated of financial pundits and asset manager CEOs were hard pressed to believe a Trump rally would actually occur in late October 2016 given the momentous news cycle of 2016. Chief investment officers, both […]

Follow the Money – Episode 34

In mid-March, Rachel and Michael roll back into Follow the Money, talking about luxury retail and infrastructure investments. Rachel talks about investment partnerships and Turkey’s wealth fund. Download the Episode CONTENTS 0:55 Neiman Marcus Story 4:15 Chatting About E-Commerce 5:30 Mubadala Updates 8:18 Sovereign Funds and Inflation Strategies 12:15 Hedging Cash Flows and Investment Partnerships […]

Borealis and Wren House Let Macquarie Exit Thames Water

Borealis Infrastructure, an infrastructure unit of OMERS and Wren House, the infrastructure unit of the Kuwait Investment Authority (KIA), have agreed to acquire a 26% ownership stake in Kemble Water Holdings Limited, the holding company of U.K. water company Thames Water, from Macquarie. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]

Suez and CDPQ Ink Deal to Acquire GE Water

Caisse de dépôt et placement du Québec (CDPQ) and France’s Suez SA inked a deal in which they will acquire the water treatment business of General Electric (GE) for an enterprise value of US$ 3.415 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Why Singapore Gets Savvy on Strategic Development

Armed with two mega state funds, Temasek Holdings and GIC, Singapore holds water among giants in the region. When Singapore became independent, the country had no natural resources and faced a number of challenging issues. The late Lee Kuan Yew, Singapore’s first prime minister, ambitiously drove reforms to turn Singapore into a financial and regional […]

doha sovereign wealth fund

SWFI First Read, February 27, 2017

Chinese Insurer AIA Looks to SE Asia Chinese mega insurer AIA Group Ltd seeks to grow its overseas investments and insurance business in emerging markets. AIA is increasing its investment presence in Singapore, by moving some team members from Hong Kong to Singapore. AIA also formed a new subsidiary in Singapore. The Southeast Asian countries […]