Infrastructure

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$ [...]


Friday SWFI News Roundup, April 3, 2015

ADIA Brings on Former QIC Investment Compliance Head The Abu Dhabi Investment Authority (ADIA) has hired Sam O’Sullivan as a manager in the investment services department. Previously, O’Sullivan was head of investment compliance and risk management at the Queensland Investment Corporation (QIC). Matt Winters was appointed interim head of investment compliance and risk management at [...]


CPPIB and Hermes Buy Stake in Associated British Ports

Large institutional investors such as sovereign funds and pensions are attracted to long-term predictable inflation-linked cash flows, with resilient cash yield. The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure, a unit of Hermes Investment Management, beat out sovereign wealth funds in their joint bid to invest approximately £1.6 billion to acquire a stake [...]


Gulf Sovereign Wealth Fund Gets LATAM Infrastructure Exposure

Gas Natural Fenosa, a Spanish distributor of gas and electricity, through its newly-formed subsidiary Global Power Generation (GPG), is working with a Gulf sovereign wealth fund to boost its international presence overseas in markets such as Latin America. Gulf sovereign wealth funds have dedicated extensive resources toward the asset class of infrastructure. [ Content protected [...]


Tank & Rast Draws Pensions and Sovereign Funds

Autobahn Tank & Rast GmbH, a German motorway service station group, is attracting bidders such as large pensions, insurance companies and sovereign wealth funds. Some interested institutional investors include Abu Dhabi Investment Authority (ADIA), Singapore’s GIC and Borealis, the infrastructure arm of OMERS. Bonn-based Tank & Rast operates around 390 service stations and 350 gas [...]


Friday SWFI News Roundup, March 27, 2015

TRS Delivers 8.51% for 2014 Return The Teacher Retirement System of Texas posted an 8.51% return for 2014, beating its policy index by 0.04%. The highest performing asset class for the pension system was stable value which posted 21.4%. Real return asset class posted 10.2%, followed by risk parity at 8.1% in return. Directional hedge [...]


superannuation

Future Fund Promotes Wendy Norris to be Head of Infrastructure and Timberland

Australia’s Future Fund has appointed Wendy Norris to be head of infrastructure and timberland. She will assume command of the Future Fund’s A$ 8 billion infrastructure and timberland portfolio. Norris was a director in the sovereign wealth fund’s infrastructure and timberland team since 2010. Norris fills Raphael Arndt’s position who was promoted to chief investment [...]


China Sovereign Wealth Fund’s Second Take on Italian Infrastructure

The China Investment Corporation (CIC) is taking a second look in possibly investing in a fund managed by Il Fondo Italiano per le Infrastrutture (F2i). F2i is looking to raise a second infrastructure fund, hoping to attract more foreign institutional investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


South Africa’s Public Investment Corporation Backs Xina Solar One

Spain-based Abengoa, S.A. reached a deal with South Africa’s Public Investment Corporation (PIC), Industrial Development Corporation (IDC), a development finance institution owned by the South African government, and Kaxu Community Trust, on the closing of a non-recourse project financing arrangement for Xina Solar One, located in the Northern Cape province. [ Content protected for Sovereign [...]


Group Led by Borealis Infrastructure Wins, Acquires Fortum Distribution AB

An investment group led by Borealis Infrastructure Management Inc., the infrastructure arm of OMERS, signed a deal on March 13, 2015 to buy 100% of the shares of Fortum Distribution AB, which operates and owns Fortum’s electricity distribution business in Sweden. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to [...]


Friday SWFI News Roundup, March 13, 2015

Azerbaijan Sovereign Wealth Fund Looks to Open London Office The State Oil Fund of Azerbaijan (SOFAZ) plans to open an overseas office in London. This is a sign for more allocation to overseas markets. GSO Capital Begins to Market Debut Energy Credit Fund GSO Capital Partners, the credit unit of the Blackstone Group, is attempting [...]