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 […]

doha sovereign wealth fund

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 […]

SWFI First Read, May 30, 2016

CIT Looks to Sell Aviation Assets Lending giant CIT Group Inc. is seeking to sell some aircraft leasing assets. Some bidding entities include Industrial and Commercial Bank of China’s ICBC Leasing, Japan’s Orix Corporation and China’s HNA Group. Other possible parties to bid are China Investment Corporation (CIC), China Development Bank Leasing (CDB Leasing) and […]

GIC Eyes Blackstone’s Philippines Power Plant Assets

The massive Singaporean sovereign fund is a member of an investment group, consisting of Malaysian power company Malakoff Corporation and Macquarie Infrastructure Corporation, seeking to acquire New York-based Sithe Global Power LLC’s ownership interests in two Philippine power plants. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]

Alaskan SWF May Commit Up to $3 Billion Toward Private Markets in FY 2017

The Alaska Permanent Fund Corporation (APFC) is keen on getting more deal flow in private markets. With a new chief investment officer named Russell Read (formerly from Kuwait GIC and CalPERS) and a mandate from the fund’s board of trustees, the fund plans to commit up to US$ 3 billion in private investments for the […]

Alaskan SWF Commits Half a Billion to Infrastructure Fund

The Alaska Permanent Fund Corporation (APFC) committed US$ 500 million to a fund managed by Global Infrastructure Partners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Massive Scottish Offshore Windfarm Project Gets Greenlight

PensionDanmark finalized its first investment in a £2.6 billion Scottish offshore windfarm dubbed Beatrice Offshore Windfarm Ltd. PensionDanmark made the investment through the Copenhagen Infrastructure Partners’ I and II funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, May 17, 2016

Investec Asset management Wins Sub-Saharan Africa Infrastructure Mandate Investec Asset management won a mandate to manage a US$ 670 million fund called the Emerging Africa Infrastructure Fund (EAIF). The fund, which was founded in 2002, is a public-private partnership financially backed by a number of governments including Switzerland, United Kingdom, the Netherlands and Sweden. The […]

SWFI First Read, May 16, 2016

Russell Investments Forms New Global Client Strategy and Research Unit Seattle-based Russell Investments created a new team called the Global Client Strategy & Research team within its investment division. This new team will be led by Kevin Turner, a 21-year veteran of the company. He will report to Brian Meath, global chief investment officer, multi-asset […]

SWFI First Read, May 9, 2016

Nant Health Seeks IPO Culver City-based Nant Health LLC which is backed by investors such as the Kuwait Investment Authority (KIA) and BlackBerry Corporation, plans to have its US$ 92 million initial public offering (IPO) on the Nasdaq. Jefferies and Cowen & Co. are serving as lead underwriters. Investment Banks GCA Savvian and Altium Sign […]

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. ]