Infrastructure

Quebec Looks to Tap CDPQ for Public Infrastructure Projects

Caisse de dépôt et placement du Québec (CDPQ) has reached an agreement with the Government of Québec to develop and manage infrastructure assets for the province. Under the agreement and subject to the approval of province legislative amendments, CDPQ will form a new subsidiary called CDPQ Infra. This unit will lead the planning, financing, execution [...]


Abu Dhabi Terminals Gets Financing from Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank (ADCB) has signed a financing agreement worth 300 million AED (US$ 81.7 million) with Abu Dhabi Terminals to help further develop the Khalifa Port Container Terminal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, January 2, 2015

WCAS Closes on 12th Flagship Fund New York-based Welsh, Carson, Anderson & Stowe (WCAS) raised US$ 1.7 billion on December 29th for its first close on Welsh, Carson, Anderson & Stowe XII. This is the private equity firm’s 12th flagship fund. The fund plans for additional closes in 2015. WCAS Co-Founder Welsh worked at Citicorp [...]


National Welfare Fund Transfers 100 Billion Rubles to VTB Bank

Russian Prime Minister Dmitry Medvedev has authorized the transfer of 100 billion rubles (US$ 1.8 billion) from the National Welfare Fund (NWF) to boost the capital of VTB Bank. The first aid tranche NWF order was signed on December 27th. The funds have been placed into a subordinated deposit to fund Russian-backed infrastructure projects. VTB [...]


OTPP to Boost Birmingham Airport Holding

Toronto-based Ontario Teachers’ Pension Plan (OTPP) plans to augment its interest in Birmingham Airport (United Kingdom) to 48.25%. OTPP acquired a 19.25% stake in the airport from Victorian Funds Management Corporation (VFMC), a superannuation funds manager. A long-term investor indeed, OTPP made its initial investment in the airport in 2001. The pension investor boosted its [...]


Sovereign Wealth Centers on 3 Major Infrastructure Deals

Sovereign wealth funds are honing in on some major infrastructure deals. The UK government’s stake sale in Eurostar has lured two cash-rich Asian sovereign wealth funds to the table. Eurostar, a high-speed rail operator, connects London and Paris through the Channel Tunnel as well as Brussels. The China Investment Corporation (CIC) and Singapore’s GIC Private [...]


Nebras to Mull Over Massive $14 Billion Energy Project in Turkey

Energy-hungry Turkey is embedded with geostrategic benefits, bridging Asia, Europe and the Middle East. However, Turkey’s growing economy and population demands greater power generation capacity and distribution. Turkey also wants to limit energy imports, being heavily reliant on gathering foreign sources of oil, natural gas and hard coal. Doha-based Nebras Power Company, backed by Qatar [...]


OTPP and PSP Investments Buy Into Santander Renewable Portfolio

Ontario Teachers’ Pension Plan (OTPP) and the Public Sector Pension Investment Board (PSP Investments) are jointly acquiring a portfolio of renewable energy and infrastructure assets from Banco Santander, S.A. The assets being sold by Santander will be moved to a new company equally owned by: Banco Santander, OTPP and PSP Investments. Marcos Sebares will be [...]


Kuwait Sovereign Wealth Fund and Macquarie Set to Acquire Spanish Utility Assets

Germany’s largest power company E.ON SE is set to sell its Spanish assets to Macquarie Group and Wren House Infrastructure Management, a sovereign wealth enterprise of the Kuwait Investment Authority (KIA). E.ON’s Spanish assets attracted the likes of investors such as CVC Capital Partners, Morgan Stanley Infrastructure, Borealis, First State Investments and Endesa. [ Content [...]


Friday SWFI News Roundup, November 28, 2014

Khazanah Eyes Spanish Infrastructure Malaysian sovereign wealth fund Khazanah Nasional is in talks to acquire a company, 50% owned by Spanish construction group Fomento de Construcciones y Contratas (FCC) and 50% owned by Bankia, a nationalized Spanish savings bank. The joint venture company is Madrid-based Globalvia Infraestructuras S.A. Nice Hedge Fund: Tepper Gives Money Back [...]


SWFI – Movers and Shakers – November 26, 2014

Pioneer Investments CEO to Leave Early 2015 Pioneer Investments CEO Sandro Pierri announced he would step down on January 31, 2015. He will be replaced by the firm’s deputy CEO Giordano Lombardo. Pioneer Investments is part of Italian bank UniCredit. Pierri has been with Pioneer Investments for 11 years, 2.5 years as CEO. AMP Capital [...]


GOING NUCLEAR: China’s Biggest Nuclear Power Operator Seeking to IPO in Hong Kong

State-owned CGN Power Co. (China General Nuclear Power Group), China’s largest nuclear power plant operator, is seeking to raise US$ 3.16 billion in its Hong Kong initial public offering (IPO). CGN is under China’s State-owned Assets Supervision and Administration Commission (SASAC).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view [...]


3 Major Gulf Deals That Have Impacted Local Markets

Aabar Investments, a unit of International Petroleum Investment Company (IPIC), has boosted its stake in Dubai-listed Arabtec Holding to about 35% by acquiring shares from the company’s former CEO Hasan Ismaik for US$ 963 million. Aabar had owned 18.94% of Arabtec before the deal. Arabtec is noted for its work as a contractor on Dubai’s [...]


Friday SWFI News Roundup, November 14, 2014

Temasek Acquires Stake in Intas Pharmaceuticals One of Singapore’s sovereign wealth funds, Temasek Holdings, has acquired a 10.16% stake in Intas Pharmaceuticals, an Indian drugmaker. Temasek Holdings purchased the stake from private equity firm ChrysCapital. Hellman & Friedman Raises Some Big Money San Francisco-based Hellman & Friedman LLC raised US$ 10.9 billion for its 8th [...]


IPIC and Orascom Construction Seek to Build Coal-Fired Plant in Egypt

International Petroleum Investment Company (IPIC) and Orascom Construction, an Egyptian engineering and construction firm, have plans to develop, build and run a coal-fired power plant in Egypt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWF Partnership: KIC and QIA Form Joint Investment Fund

Increasingly, sovereign wealth funds from the East and the Gulf are creating joint investment funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ATP

Denmark’s ATP Forms Special Situations Unit

Denmark’s ATP has five risk classes: interest rates, credit, equities, inflation and commodities. The ATP is forming a unit to focus on “non-traditional assets.” [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


China and Oman to Invest in Bagamoyo Port Infrastructure

The Government of Tanzania is hoping to construct a large port in the city of Bagamoyo which is 47 miles north of Dar es Salaam. The port is being primarily funded by China and construction will start by July 15, according to a statement from the President of Tanzania’s office. The port project could cost [...]


london

Tory Peer Proposes Sovereign Wealth Fund Amendment to UK Infrastructure Bill

Lord Hodgson of Astley Abbotts, a Tory peer, proposed an amendment to the UK infrastructure bill. In it, Hodgson entails the formation of a soverign wealth fund being funded by shale gas revenue. Hydraulic fracturing, also known as fracking, could provide the UK with a boom in energy revenue. According to the Associated Press (AP), [...]


REVEALED: See the Institutional Investor Groups Circling Indiana’s Toll Road

A drove of institutional investors who heart infrastructure are forming coalitions for bidding purposes to be the operator of an Indiana toll road. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]