OTPP Builds European Airport Portfolio

The Ontario Teachers’ Pension Plan (OTPP) has been an airport infrastructure investor since 2002. For many large pensions and sovereign wealth funds, international airports in core markets are regulated assets that have high barriers to entry and typically have inflation-linked stable cash flows.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]

Friday SWFI News Roundup, August 15, 2014

Malaysian Airlines to be Fully Acquired by Khazanah Nasional The plagued Asian airlines, Malaysia Airlines, is going to be taken private by Khazanah Nasional, the country’s sovereign wealth fund. The carrier has suffered tremendously after two key disasters in a four month span. Khazanah is currently the largest shareholder in the airlines with a 69% [...]

LDP’s Shiozaki Calls for GPIF to Invest in Private Companies

Yasuhisa Shiozaki, deputy policy chief of Japan’s Liberal Democratic Party (LDP), has called for Japan’s Government Pension Investment Fund (GPIF) to be allowed to invest in unlisted companies, specifically unlisted ventures and small-to-medium enterprises. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, August 8, 2014

Nigeria Sovereign Investment Authority to Manage US$ 350 Million for NBET On July 24, the Nigeria Sovereign Investment Authority (NSIA) and Nigerian Bulk Electricity Trading Plc (NBET) signed a funds management agreement. US$ 350 million is being allocated to the NBET from the US$ 1 billion Eurobond issued by the Nigerian government in July 2013. [...]

CalPERS and UBS Create $500 Million Infrastructure Partnership

The California Public Employees’ Retirement System (CalPERS) and UBS Global Asset Management (Americas) Inc. have created Golden State Matterhorn, LLC, a strategic infrastructure partnership targeting infrastructure investment opportunities across core, OECD markets. CalPERS made a US$ 485 million capital commitment to the partnership, while UBS kicked in US$ 15 million. UBS is the the managing [...]

Asian Sovereign Wealth Fund Withdraws £4 Billion from Aberdeen

Aberdeen Asset Management PLC suffered a £4 billion withdrawal from an Asian sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CPPIB Invests in Parking Garages in Belgium and Germany

The Canada Pension Plan Investment Board (CPPIB), through CPP Investment Board European Holdings S.àr.l, has signed an agreement to invest approximately €376 million for a 39% stake in Interparking Group S.A./NV. This deal was announced on July 18, 2014. Brussels-based Interparking is one of Europe’s biggest car parking management companies. Founded in 1958, Interparking has [...]

Friday SWFI News Roundup, July 18, 2014

Aquila Capital and APG Create Hydropower Investment JV APG Asset Management and Hamburg-based Aquila Capital have created a partnership to invest €500 million toward European hydropower plants. The Dutch pension fund asset manager will contribute €250 million to the joint venture to make investments in operational plants and greenfield projects. Aquila Partners will provide the [...]

BRICS Making a Bank, RDIF Gets Involved

The BRICS (Brazil, Russia, India, China and South Africa) nations are making their own bank – countering the influence of the International Monetary Fund (IMF). The BRICS member nations have been disappointed with the non-implementation of the 2010 IMF reforms. Leaders of the nations signed an agreement to create the New Development Bank (NDB) to [...]

Islamic Development Bank Launches Mega Infrastructure Fund

The IDB Infrastructure Fund II is the largest private equity infrastructure fund aimed at the 57 member countries of the Islamic Development Bank. A core focus of the fund will lie with the larger member countries of Indonesia, Saudi Arabia and Turkey. All infrastructure sectors will be considered, but the infrastructure fund will mostly focus [...]

Abu Dhabi Investment Authority Releases 2013 Annual Report

The Abu Dhabi Investment Authority (ADIA) has released its 2013 annual report. The Gulf sovereign wealth fund detailed its 2013 experiences and organizational changes. ADIA’s Managing Director Hamed bin Zayed Al Nahyan commented in the report that, ” Beyond China, the emerging market world is becoming far more diverse, and less easy to classify. Meanwhile, [...]

Yngve Slyngstad

Largest Sovereign Wealth Fund Makes Strategic Changes

Norway’s Government Pension Fund Global (GPFG) released its 2014-2016 strategy report, highlighting significant changes in how it will invest sovereign wealth assets and manage risk. After studying other asset owners and institutional investors like the CPPIB, Singapore’s GIC Private Limited and the New Zealand Superannuation Fund, the fund is adopting some attributes of the opportunity [...]

Thames Water Seeks Institutional Investors for Supersewer Project

The United Kingdom is keen on attracting more infrastructure funds, sovereign wealth funds and pensions to invest in developmental infrastructure projects. According to the Sovereign Wealth Fund Transaction Database, the UK was able to attract more than US$ 20 billion in direct sovereign wealth fund investment in 2013. Thames Water, the largest water company in [...]


Singapore Sovereign Wealth Centers on North American Infrastructure

Singapore’s GIC Private Limited is expanding its North American infrastructure team in New York, hoping to add four to five professionals. The infrastructure team is part of GIC’s Special Investments arm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Nigerian Sovereign Wealth to Work With GuarantCo to Assist Infrastructure Shortfall

The Nigeria Sovereign Investment Authority (NSIA) has entered into an arrangement to explore the possible creation of a Nigerian Credit Enhancement Facility (NCEF). By partnering with GuarantCo, a local currency development finance fund, the facility would provide credit enhancement for domestic infrastructure projects by improving their credits ratings toward investment grade. [ Content protected for [...]

Russian Renewal: RDIF Makes Strides with International Institutional Investors

The second to last week of May was momentous for countries in Eastern Europe and Central Asia. The St. Petersburg International Economic Forum was hosted on May 22-24 in Russia. During the conference, the Russian Direct Investment Fund (RDIF) highlighted some significant recent deals and joint ventures. In a continuous strategy to expand foreign investment [...]

Libyan Sovereign Wealth Fund Hires Deloitte for Infrastructure Help

The Libyan Investment Authority (LIA) through one of its funds, the Libyan Local Investment & Development Fund (LLIDF), has appointed Deloitte to advise on national infrastructure projects through Libya’s Public Private Partnerships (PPP) program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CEI Sells Mtkvari HPP LLC to Georgian Co-Investment Fund

In Georgia, approximately 78% of electricity demand has been met by domestic hydropower plants. Georgia-based JSC Caucasus Energy & Infrastructure (CEI) is in the business of production, transmission and distribution of gas and electricity in Georgia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Simsek Speaks: Making the Case for Institutional Investment in Turkey

On May 20th, the Turkish Prime Ministry’s Investment Support and Promotion Agency (ISPAT) hosted the first annual Turkey’s Investment Summit in partnership and coordination with the Sovereign Wealth Fund Institute. Foreign institutional investors, asset managers, public officials and business leaders from more than 30 countries converged on the historic Ciragan Palace Kempinski in Istanbul to [...]

illiquidity premium

Apollo Wins By Getting US$ 750 Million From Alaskan Sovereign Fund

The Alaska Permanent Fund Corporation (APFC) gave Apollo Global Management a US$ 750 million mandate targeting funds and assets across the credit space. The APFC Board of Trustees met in Ketchikan, Alaska to approve several private asset investments. Increasingly, pensions and sovereign funds have allocations that are behaving like bank institutions, lending money and generating [...]