Middle East
KIA

KIA Managing Director Reported Stepping Down

Both Kuwait and global news sources are reporting that Bader Mohammad Al-Sa’ad, Managing Director of the Kuwait Investment Authority (KIA), is stepping down from his position, but will remain on the board at KIA. Bader Mohammad Al-Sa’ad was ranked #7 on the inaugural Public Investor 100 in 2013. [ Content protected for Sovereign Wealth Fund […]


turkey

Hydropower Plants Next for Turkish SWF

The Turkish government seems to be moving more state-owned properties and assets into its new wealth fund, Turkey Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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 […]


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 […]


SWFI First Read, February 13, 2017

Endeavour Energy Gets Offers The New South Wales government has received offers for a majority stake in Australian state-owned power grid Endeavour Energy. One investor group is led by Macquarie Group partnering with British Columbia Investment Management Corporation (bcIMC). Another investor group is led by Queensland Investment Corporation (QIC) that includes AMP Capital and Borealis […]


SWFI First Read, February 9, 2017

Franklin Resources Brings on AlphaParity Franklin Resources, Inc., which operates as Franklin Templeton Investments, announced that the team from New York-based AlphaParity LLC, a risk premia investment firm, will join its Franklin Templeton Solutions platform. Founded in 2012 by Steve Gross and Joshua Smith, AlphaParity oversees roughly US$ 500 million as of December 31, 2016, […]


Russian Direct Investment Fund Expects Capital Boost

The Russian Direct Investment Fund (RDIF) has been making deals with governments, wealth funds and corporations across the Eastern hemisphere. RDIF has also formed a number of joint investment vehicles with sovereign funds such as the China Investment Corporation (CIC) and Qatar Investment Authority (QIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


SWFI First Read, February 8, 2017

MORE CONSOLIDATION: Unigestion Buys Akina Unigestion is acquiring Zurich-based Akina Ltd which has US$ 2.6 billion in assets under management. The deal gives Unigestion greater exposure to private market assets under management. The combined businesses will trade under the Unigestion name. Temasek Invests in Series G Round in CarTrade [ Content protected for Sovereign Wealth […]


Moelis Wins Advisory Role in Legendary Saudi Aramco IPO

Moelis & Co., a boutique investment bank, outmaneuvered its rivals to land the sole independent adviser role for the planned initial public offering (IPO) of Saudi Aramco, the state-owned oil colossus of Saudi Arabia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Follow the Money – Episode 31

They are back. In this lengthy episode, Michael Maduell and Rachel Pether return to the podcast to tackle a number of issues and events in the world of mega institutional investors. In preparation of Saudi Aramco’s planned IPO, Pether talks about bond issuances and sukuks occurring in the Gulf region. Maduell banters about Turkey’s mission […]


SWFI First Read, February 7, 2017

CITIC Capital Partners Raises Third Japanese Buyout Fund CITIC Capital Partners Limited, the private equity arm of CITIC Capital Holdings Limited, closed its third Japan buyout fund called CITIC Capital Japan Partners III. The fund had a hard cap of 30 billion JPY, attracting both Japanese and non-Japanese investors. The investor base included a sovereign […]


turkey

More Companies Held by Treasury Transferred to New Turkish Sovereign Fund

According to Turkey’s official gazette, the Turkish government transferred its ownership stakes in a number of holdings to its new sovereign wealth fund called Turkey Asset Management Company, also known as Türkiye Varlık Fonu Yönetimi Anonim. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ICD’s Big Sukuk Listed on Nasdaq Dubai

Nasdaq Dubai, a stock exchange that lists regional and international shares in the Middle East, has the listing of a US$ 1 billion sukuk by the Investment Corporation of Dubai (ICD). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, February 2, 2017

QIA Sells Some Shares in Agricultural Bank of China According to Hong Kong filings, Qatar Investment Authority (QIA) sold 3.84 million H shares of Agricultural Bank of China Ltd. The shares were sold at an average price of HK$ 3.26 per share on January 27, 2017. Post-transaction, the QIA owns a 11.99% stake in the […]


Lebanon Could Join the Sovereign Wealth Fund Community

Lebanon could have its own sovereign fund funded by oil and gas revenue. The Eastern Mediterranean region, specifically the Levant basin, is home to offshore oil and gas, as Israel, Egypt and Cyprus have already started developing its resources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


SWFI First Read, January 31, 2017

Kuwait FinMin Expects $25.85 Billion Budget Deficit for New Fiscal Year Kuwait Finance Minister Anas al-Saleh announced the budget deficit for the new fiscal year, beginning April 1, 2017, to be 7.9 billion KWD (US$ 25.85 billion). The minister’s forecast was built on an assumption of a US$ 45 oil barrel price and after a […]


SWFI First Read, January 27, 2017

OFFICIAL: OMERS Kicks in Juice for Fairfax Allies World Deal Toronto-based Fairfax Financial Holdings Limited and the Ontario Municipal Employees’ Retirement System (OMERS) announced that they have entered into an agreement pursuant to which OMERS will invest US$ 1 billion in order to indirectly acquire approximately 21% of the issued and outstanding shares of Allied […]


SWFI First Read, January 25, 2017

Norway GPFG: Raytheon Removed from Naughty List Defence company Raytheon was removed from Norway’s SWF banned list. Raytheon was banned from investing in 2005 over its involvement in the production of cluster munitions. Raytheon is no longer involved in the activity. India’s NIIF to Ink MoU with ADIA [ Content protected for Sovereign Wealth Fund […]


SWFI First Read, January 24, 2017

Brexit Needs Parliament Approval The U.K. Supreme Court ruled on January 24, 2017, that U.K. Prime Minister Theresa May must get Parliament approval before she can begin the process of taking Britain out of the European Union. The court decision was 8 to 3 in favor of the ruling. Graham Elliot Expands Role at Robeco, […]


SWFI First Read, January 23, 2017

JPMorgan Attempts to Sell Indian IPP to Government Buyers The UK Green Investment Bank Plc and Oman’s State General Reserve Fund (SGRF) are eyeing a deal to acquire at stake in Leap Green Energy Pvt. Ltd., an Indian independent power producer backed by JPMorgan Asset Management Holdings Inc., a unit of JPMorgan. JPMorgan controls a […]