Infrastructure

COUNTERPOINT: Why Long-Term Investing Can Be Dangerous

Got your attention? Personally, I agree that, in general, large sovereign funds and pensions should invest for the long-term. There are scores of reasons why and thousands of papers produced by asset managers, think tanks and professors who believe so. Nearly every institutional investor with over US$ 100 billion in assets subscribes to the “long-term [...]


Friday SWFI News Roundup, May 22, 2015

Wealth Fund Commits to Mezzanine Fund The Alaska Permanent Corporation (APFC) allocated US$ 50 million to Audax Mezzanine Fund IV, an alternative credit fund. The sovereign fund has a 2.5% allocation to private credit. AIIB to Allow Non-Asian Countries to Bank’s Board The Asian Infrastructure Investment Bank (AIIB) will have a director from Germany on [...]


Brisbane

CalPERS Embarks on Asia-Pacific Infrastructure Partnership with QIC

The California Public Employees’ Retirement System (CalPERS) entered into a partnership with QIC (Queensland Investment Corporation) for a A$1 billion customized Asia-Pacific infrastructure portfolio. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Is Unlisted Infrastructure Too Expensive?

Today there are more infrastructure investor conferences than ever before, coupled with the plethora of journals covering the sector. This is a reflection of the insatiable demand for unlisted infrastructure in developed markets. Ontario Teachers’ Pension Plan (OTPP) CEO Ron Mock back in January 2015 at the World Economic Forum in Davos said in an [...]


Friday SWFI News Roundup, May 15, 2015

Stanford Endowment’s Head of Private Equity Joins Adams Street Partners Saguna Malhotra, the former managing director for private equity for Stanford University’s endowment, has joined Adams Street Partners as a partner. She will be based in Menlo Park. Before working at Stanford Management Company (SMC), Malhotra was vice president at Ripplewood Holdings. At SMC, she [...]


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 [...]


investment consulting

CASHING IN: Cellnex IPO Aims to Attract Sovereign Funds

Barcelona-based Abertis Infraestructuras SA, a toll road company, seeks to cash in on the demand for Spanish communication infrastructure. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


5 Key Takeaways at SWFI’s Institute Fund Summit Asia in Seoul

  In late April, the Sovereign Wealth Fund Institute (SWFI) held its third Asia summit, this time in Seoul, Korea – a vibrant metropolis home to global companies such as Samsung, Hyundai and Lotte. South Korea’s rise to an economic powerhouse is fascinating. In 1957, South Korea and Ghana had nearly the same annual per [...]


tibbles

Friday SWFI News Roundup, May 1, 2015

Abu Dhabi Investment Council Decreases Ownership in Canadian Retailer Abu Dhabi Investment Council (ADIC), through its sovereign wealth enterprise Hanover Investments (Luxembourg) S.A., sold off shares of Hudson’s Bay Company at a price of $27.25 per common share. This is approximately 5.8% of the outstanding common shares on a non-diluted basis pursuant to a secondary [...]


BEST QUARTER: Norway’s SWF Posts 5.3% Quarterly Return

Norway’s Government Pension Fund Global (GPFG) posted a 5.3% return for the first quarter of 2015 – earning a quarterly record of 401 billion kroner. The previous best performing quarters were in 2009, when the wealth fund generated 270 billion kroner in the second quarter and 325 billion in the third quarter. A key contributor [...]


Friday SWFI News Roundup, April 24, 2015

Qatar Sovereign Wealth Capital Backs North African Resorts Bangkok-based Minor Group is working with Qatari Diar Real Estate Investment Company, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), to construct two new resorts in North Africa. The resorts will be Anantara resorts. One of the resorts, Anantara Tozeur Resort, will be based in [...]


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 [...]


Friday SWFI News Roundup, April 17, 2015

Ola Raises Money from Hedge Funds and Singapore Sovereign Wealth Fund Singapore’s GIC Private Limited invested in a US$ 400 million round in Ola, an Indian cab service. Ola is owned by ANI Technologies. Some other investors in the round are DST Global and hedge fund Falcon Capital Edge LP. QIA to Play Role in [...]


BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets. #1. Mexican Infrastructure On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA [...]


Sovereign Wealth Fund Increases Ownership in ILFS

The U.S. Department of Agriculture put out a projection for 2030, contending that India will go up in rankings and be crowned the third largest economy in the world behind China and the United States. India Prime Minister Narendra Modi was voted into power in 2014. After the widely-viewed election, billions worth of dollars of [...]


Leo de Bever

Norway’s Sovereign Fund Contemplates Infrastructure Allocation, Boosting Real Estate

The Norwegian Ministry of Finance is moving forward on assessing whether the sovereign wealth fund should boost allocation over its 5% cap in real estate and begin to invest in unlisted infrastructure. Norway’s Government Pension Fund Global (GPFG) made headways investing in properties in cities such as London, New York and Boston. The sovereign fund, [...]


superannuation

3 Large Sovereign Fund Cross-Border Bids Shaping the Industry

Bidders are quietly lining up as Australia’s New South Wales (NSW) government pushes forward on a plan selling leases on select infrastructure. NSW Premier Michael “Mike” Baird won a late March election, giving him a mandate to move forward with the lease sales. Essentially, the state government seeks to lease A$ 20 billion worth of [...]


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 [...]


Past 12 Months in Direct RE, Sovereign Funds Spent Over $35 Billion

Increasingly, sovereign wealth funds and pensions are making more direct investments, especially in real estate and infrastructure. Instead of simply handing money to managers, wealth funds are forming strategic partnerships with commercial developers, banks, life insurers and other pools of capital. According to SWFI’s Sovereign Wealth Fund Transaction Database, sovereign funds directly invested over US$ [...]