Infrastructure

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 […]


SWFI First Read, February 26, 2017

Chinese Government Capital Backs Haoqiao.cn Haoqiao.cn is a Chinese hotel search and booking engine that was founded in 2013. Haoqiao has raised 120 million RMB (US$ 17 million) in a fresh Series B round from China Merchants Capital Investment Co. and China National SME Development Fund. This is the China National SME Development Fund’s second […]


China Railway Construction Rolls Forward on $1.85 Billion Kano Project in Nigeria

Northern Nigeria is getting additional help when it comes to transport infrastructure. The State of Kano is the second biggest industrial region in the country with the city of Kano as a key economic and regional hub. Some key industries in Kano include plastics, agricultural products, dairy products, ceramics, textile, tanning and footware. In the […]


SWFI First Read, February 21, 2017

SOURCES: China NSSF Has an Annual Average Investment Yield of 8.4% Since Inception China’s National Council for Social Security Fund (NSSF) has an annual average investment yield of 8.4% in the 16 years since it was founded. This is according to local Chinese news reports from an official of the organization. The news sources report […]


NSSF

Ghana Infrastructure Investment Fund Inks Partnership Agreement With Ithmar Capital

The Ghana Infrastructure Investment Fund (GIIF), one of Ghana’s sovereign funds, and Morocco’s Ithmar Capital, are looking to work together on potential co-investment opportunities within Africa. The two parties signed a strategic partnership agreement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, February 17, 2017

HNA Group Buys Small Stake in Deutsche Bank China’s HNA Group, a well-known massive conglomerate, purchase a 3.04% stake in Deutsche Bank. The transaction is estimated at £750 million. HNA Group indicated they could increase buying shares in the German bank. GIC Sold Some Shares in CGN Power Co., Ltd Singapore’s GIC Private Limited lowered […]


Follow the Money – Episode 32

This episode was recorded on February 15, 2017. Rachel and I break into chatting about the SoftBank/Fortress Investment Group transaction. Rachel reports on VietJet, while I discuss direct wealth fund deals into mainland China. We dive into emerging market deals in countries such as Brazil and India. I talk about direct deals and the headaches […]


SWFI First Read, February 16, 2017

ADIA and CDPQ Eye Autostrade Investment Autostrade per L’Italia SpA, an Italian toll road operator, has attracted the interest of big asset owners such as the Abu Dhabi Investment Authority (ADIA), Caisse de dépôt et placement du Québec (CDPQ) and Allianz SE. The seller of the 15% stake in Autostrade is Atlantia. Mubadala Investment Company […]


China-Russia Tongjiang Rail Bridge Back on Track

The Amur International Rail Bridge, also known as the China-Russia Tongjiang Rail Bridge, aims to link Russia and China transportation-wise. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, February 14, 2017

U.S. Senate Confirms Mnuchin for Treasury Secretary In a 53 to 47 vote that was mostly along party lines, the U.S. Senate has confirmed Steven Mnuchin for U.S. Treasury Secretary. Mnuchin was CEO of OneWest Bank, the entity that acquired IndyMac. Nordea Gets Political Over Dakota Access Pipeline Nordea has decided to divest from bonds […]


The Canadians Are Building a National Infrastructure Bank

In November 2016, Canadian Finance Minister Bill Morneau stood up in the House of Commons and announced plans to create a new infrastructure bank, a Canada Infrastructure Bank, for the country. Building infrastructure and creating jobs are popular themes that resonate with many voters in Western countries. Tapping on wealth fund, pension and infrastructure asset […]


Can Mubadala Rejuvenate Brazil’s Invepar?

Brazil, Latin America’s biggest economy, is facing its toughest recession in decades amid a earth-shattering political crisis that linked government officials with state-owned companies. Making matters worse for the Brazilian economy is that borrowing costs had surged, while deal execution risk has increased. In February, state-controlled oil giant Petróleo Brasileiro SA (Petrobras) had its sale […]