Policy

China Investment Corp Chairman Resigns

Several Chinese media reports are citing that Ding Xuedong, Chairman and Chief Executive of the China Investment Corporation (CIC), has resigned from his position. Ding was appointed CIC chairman in July 2013. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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 […]


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. ]


Welcome to San Francisco, Temasek Holdings

Temasek goes bi-coastal, as the wealth investor is poised to increased investment in U.S. companies. Singapore’s Temasek Holdings has opened their second U.S. office in San Francisco. The first U.S. office was opened in New York City in June 2014. Temasek is joining it sovereign wealth peers, Malaysia’s Khazanah Nasional and GIC, in having a […]


Government Proposes Norway Wealth Fund Equity Shift

Reported in December 2016 by SWFI, Norway’s Government Pension Fund Global (GPFG), appears to be moving forward on a plan to increase allocation to listed equities. On February 16, 2017, the Norwegian government has officially proposed the changes in allocation and oil rule for the wealth fund. The wealth fund could see its total allocation […]


Investment Staff Exodus at South Korea’s NPS

South Korea’s National Pension Service (NPS) is experiencing a number of key employee departures within the organization’s investment management department. Sang-Hyun Yoo, the Head of the Global Alternative Investment Division at NPS, has exited the firm. Kyung-Jik Lee, head of NPS’s global public market investment division, has left as well. Kyung-Jik Lee is heading over […]


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 […]


KIA

KIA Managing Director Proposed to Join Daimler Supervisory Board

The Supervisory Board of Daimler AG plans to nominate Bader Mohammad Al-Sa’ad, Managing Director of the Kuwait Investment Authority (KIA), to its board. Bader Mohammad Al-Sa’ad was ranked #7 on the inaugural Public Investor 100 in 2013. The annual shareholders’ meeting for Daimler will be held on March 29, 2017 in Berlin. Dr. Bernd Bohr […]


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 […]


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 […]


Norway’s SWF Has Exposure to Pharma Linked to Opioid Overdose Drug Gouging

Despite its otherwise strong social stances on equity investments, Norway’s Government Pension Fund Global (GPFG) continues to hold financial interests in drug companies that are linked to entities that have raised the price of life saving medical treatments by high percentages in short periods of time. Norway’s GPFG has taken a robust stance against companies […]


BNY Mellon Manhattan

BNY Mellon Rehired by Texas Permanent School Fund

In the competitive world of custodial mandates and relationships, BNY Mellon was rehired for global custody and securities lending activities for a U.S.-based sovereign fund. [ 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 […]


Harvard

Harvard Management Company to Terminate Half of its Workforce

In a bid to turn things around, Harvard Management Company (HMC) plans to lay off approximately half of its workforce by the end of 2017. HMC plans to shutter its internally managed hedge fund units. Second, the indirect real estate investment team would exit by the end of 2017. Organizational complexity placed a burden on […]


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 […]


Fondo de Ahorro de Panama Hires Northern Trust for Global Custody Services

The Fondo de Ahorro de Panama (FAP), Panama’s sovereign wealth fund, hired Northern Trust in a global competitive bidding process to provide global custodian services for the fund. The RFP process started back in June 2016. The Banco Nacional de Panama, acting as trustee of the FAP, signed the contract, which has a term of […]


DAVOS: PIF is On Track for $2 Trillion in AUM

At the World Economic Forum (WEF) in Davos, Saudi Energy Minister Khalid Al-Falih talked briefly about Saudi Arabia’s Public Investment Fund (PIF). The PIF is targeting to have US$ 2 trillion in assets under management. This also circles around Saudi’s Vision 2030 plan, as the country tries to diversify its economy. Al-Falih also said the […]


5 Fears and Dreams by Sovereign Funds Regarding Trump’s America

Will Donald Trump’s proposed policies drive up U.S. consumer and business spending – a number of large sovereign funds think so? Could the U.S. reach 4% GDP growth in 2017? On January 16th, the International Monetary Fund (IMF) raised its forecast for the United States over the next two years. Why? The IMF believes Donald […]


Follow the Money – Episode 29

In the first Follow the Money – Global Connections episode of the New Year, Rachel Pether has a conversation with David Meredith of Hassad Food, which is part of the Qatar Investment Authority (QIA). Hassad Food is Qatar’s premier investor in the food and agri-business sectors. Pether and Meredith discuss direct investments, trade, investments in […]