Is Brookfield Biting Off More Than it Can Chew?

According to data from the Sovereign Wealth Fund Institute (SWFI), increasingly asset owners such as sovereign wealth funds and large pensions have augmented allocation to unlisted infrastructure. The money flows have created bubbles in the world of private infrastructure, forcing asset owners, managers and other investors to pay more for infrastructure assets. Toronto-based Brookfield Asset […]

REFOCUS: Temasek Considers Buyout of SMRT

Singapore’s Temasek Holdings is in key discussions of a buyout offer for SMRT Corporation, a listed company that is an operator for most of Singapore’s rapid-transit system. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, July 16, 2016

Attempted Turkey Coup Unravels On July 15, 2016, sections of the Turkish military, the “Peace at Home Council,” attempted to overthrow the Turkish government. Soldiers had stormed Turkey’s state-run broadcaster declaring martial law and that they had taken over the government. Soldiers were deployed to the streets of Ankara and Istanbul. The military told people […]

CPPIB-Backed Wolf Infrastructure Agrees to Western Canadian Pipeline Deal

Calgary-based Wolf Infrastructure Inc., a midstream oil and gas company, has agreed to a deal to acquire Oklahoma City-based Devon Energy Corporation’s 50% stake in the Access Pipeline in Western Canada for C$ 1.4 billion (US$ 1.1 billion). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, July 14, 2016

Rolls-Royce and Mubadala Ink Aerospace Plans Rolls-Royce and Abu Dhabi’s Mubadala Development Company are moving forwarding on building a new maintenance center. The maintenance center will target to service up to 150 engines a year in a new facility located at the Nibras Al Ain Aerospace Park. This is the second approved maintenance center that […]

SWFI First Read, July 13, 2016

OPTrust Embraces Smart Beta [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Follow the Money – Episode 13

This is the fourth episode of Global Connections. We continued the fast-paced discussion on Brexit and its impact on institutional investor confidence. Rachel and I wove a number of issues together such as asset owners and infrastructure, real estate and M&A in the Middle East, particularly on NBAD’s future corporate strategy. We tossed around the […]

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HKMA Establishes Infrastructure Financing Facilitation Office

The Hong Kong Monetary Authority (HKMA) formally launched the Infrastructure Financing Facilitation Office (IFFO), in a bid to promote Hong Kong as an infrastructure financing hub. Some of IFFO’s key functions will be to provide a platform of information exchange, promote market and product development, building capacity on infrastructure investing and facilitating infrastructure investment and […]

SWFI First Read, July 4, 2016

GPIF Likely Had a Rough Start into Equities for 2015 Japan’s Government Pension Investment Fund (GPIF) may have lost more than ¥5 trillion in its fiscal year 2015. If this information holds true, it would be the first loss for GPIF in five years. The Japanese government will release the official data on July 29, […]

Follow the Money – Episode 12

This is the third episode of Global Connections. Rachel and I talk about the merger announcement of IPIC and Mubadala. We chat about how asset owners will embrace and deal with Brexit. We kick around the issue of direct investing by sovereign wealth funds and large pensions. Rachel and I dissect McKinsey’s recent survey on […]

Silk Road Fund Building Allies in Eastern Europe

China’s Silk Road Fund, Wuhan-based China Gezhouba Group Co., Ltd. and China Environmental Energy Holdings Co., Ltd. signed a Memorandum of Understanding (MoU) with the Government of Serbia on joint investment and development projects in the renewable sector in Belgrade. The signing occurred on June 18, 2016. The MoU details that China Gezhouba Group and […]

SWFI First Read, June 26, 2016

Sujoy Bose Named CEO of NIIF Sujoy Bose was named chief executive officer of India’s National Investment and Infrastructure Fund (NIIF). He is the Director and Global Co-Head of Infrastructure and Natural Resources at International Finance Corporation (IFC), the private sector lending arm of the World Bank. Starwood Capital Seeks Buyers for U.S. Mall Portfolio […]

Why Institutional Investors Who Go Direct Need to Think About Disruption

According to data from the Sovereign Wealth Fund Transaction Database (SWFTD), the pace of direct investing remains positive for both larger wealth funds and public pensions as allocating capital straight into companies and assets enables the possibility of greater control. In addition, the benefits of co-investing entails lower fees and expanding access to information asymmetry. […]

SWFI First Read, June 20, 2016

Temasek Unit Sells 555 Million H-Shares in CCB Fullerton Financial Holdings Ptd Ltd, a sovereign wealth enterprise (SWE) of Singapore’s Temasek Holdings, sold 555 million H-shares of China Construction Bank (CCB) on June 16th. At a price of HK$ 5.01 per share, it values the block sold at HK$ 2.78 billion. In total, Temasek reduced […]

RDIF and Co-Investors to Back Reconstruction of Parts of M-4 Don Highway

The Russian Direct Investment Fund (RDIF) is investing in a project that will restructure portions of the federal M-4 Don highway in Russia, as part of its infrastructure partnership with Avtodor State Company formed in December 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

MODI EFFECT: SWFs and Pensions Intensify Direct Investments in India

Narendra Modi was sworn in as Prime Minister of India on May 26, 2014. Somewhat stronger private property rights, slightly-loosened regulation and friendlier foreign investment laws have increased the flows of foreign institutional investor capital. Since 2013, direct investments by sovereign funds and public pensions into India have ramped up, according to time-series data from […]

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QIA and India’s NIIF Sign MoU on Infrastructure Investing

Gulf sovereign investors have clearly signaled interest in allocating capital toward Indian infrastructure. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Canadian Pension Money Backs Mega Mexican Toll Road

The twin Toronto giants, Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP), have formed a partnership with Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (IDEAL), a Mexican infrastructure firm that is publicly-traded, to acquire minority ownership stakes in a toll road in Mexico. [ Content protected […]

SWFI First Read, June 5, 2016

Trinidad & Tobago Experiences First Drawdown of Wealth Fund The Trinidad & Tobago government has withdrawn 2.5 billion TTD (US$ 385 million) from the country’s Heritage & Stabilization Fund. This is the first time there has been a drawdown of the Heritage & Stabilization Fund. The fund will back-pay government workers. India FinMin: NIIF and […]

Norway’s Sovereign Fund Flexes Muscle to Influence Corporate Change

Norway’s sovereign wealth fund is increasingly flexing its muscle to influence and alter the behavior of publicly-listed companies. The massive wealth fund, which derived its cash pot from crude oil, has an extensive corporate governance policy providing guidance on areas such as labor regulations, executive compensation, water management, environmental impact, munitions and bombs, and climate […]