real assets

Abu Dhabi Investment Authority Holds on to Playa Hotels & Resorts

With a complex ownership history, Netherlands-based Playa Hotels & Resorts NV is an owner, operator and developer of all-inclusive resorts in Mexico and the Caribbean. In the highly-competitive world of vacation renting, Playa owns a portfolio consisting of 13 resorts located in Mexico, the Dominican Republic and Jamaica. Five of Playa’s resorts (Dreams Puerto Aventuras, […]


Abu Dhabi Investment Council Refinances Chrysler Building

As the U.S. Federal Reserve signals possible interest rate increases for the remainder of 2017, a number of building owners in Manhattan are looking to refinance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 23, 2017

Amazon to Acquire Souq E-commerce giant Amazon has agreed to acquire Dubai-based Souq.com from its shareholders. Rumors say the sales price was roughly US$ 650 million. This transaction enables Amazon to expand retail e-commerce control in the Middle East. Institutional backers of Souq include Standard Chartered Private Equity, Singapore’s GIC Private Limited, Naspers, Baillie Gifford, […]


BVK Invests in Retail Properties in Spanish Urban Areas Through Hines Account

Bayerische Versorgungskammer (BVK) has committed €190 million to acquire two prime high street retail assets with associated office space in Madrid (located on Calle Preciados – Maestro Victoria) and Barcelona (located on Paseo de Gracia 17). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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. ]


Local Gulf Capital Joins the Chorus to Target U.S. Residential RE

Dubai-based Trucial Investment Partners Limited, which is a spin-out of the Dubai International Capital private equity team, is in the midst of forming ventures with local partners. In January 2017, Trucial Investment Partners entered into a strategic partnership with Bahrain-based Securities & Investment Company (SICO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


Scion Venture Kicks in Roughly $1.6 Billion in U.S. Student Housing

The housing venture Scion Student Communities LP, mostly backed by wealth fund and pension capital, acquired three U.S. student housing portfolios for approximately US$1.6 billion. The venture is comprised of Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC Private Limited and The Scion Group LLC. CPPIB and GIC each own a 45% interest in the […]


SWFI First Read, March 16, 2017

Elo, AP1 and Trevian Asset Management Form Finnish RE Joint Venture Elo Mutual Pension Insurance Company, Första AP-fonden (AP1) and Trevian Asset Management Oy have agreed to establish a €400 million joint venture company which invests in the Finnish property market. The venture will target mostly city center retail and office properties in major Finnish […]


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 […]


CPPIB and Ivanhoé Cambridge Partner on SE Asian Logistic Ventures

Some Canadian pension love here as the Canada Pension Plan Investment Board (CPPIB) and Ivanhoé Cambridge, a unit of the Caisse de dépôt et placement du Québec (CDPQ), have agreed to invest alongside each other on two Asian logistic ventures. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


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. ]


london

Unite Group Sells Woburn Place to GIC-United Joint Venture

Unite Group Plc, which has a 50:50 joint venture with Singapore’s GIC Private Limited called the London Student Accommodation Joint Venture, is a major manager and developer of student accommodation in the United Kingdom. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


forest

SWFI First Read, March 1, 2017

NeuStar Transaction to go Under CFIUS Purview On February 3, 2017, the acquirors of NeuStar, Inc. (San Francisco-based Golden Gate Capital and GIC Special Investments Pte. Ltd. – part of GIC ) filed a draft notification form with the Committee on Foreign Investment in the United States (CFIUS). CFIUS approval is necessary for the buyout […]


Brisbane

GIC Takes Contrarian Real Estate Approach in Brisbane and Perth

This mega Asian wealth fund has embarked on a contrarian stance in certain Australian real estate markets. Singapore’s GIC is investing 800 million AUD across two real estate strategies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


london

British Land and Oxford Properties Sell Cheesegrater Building to CC Land Holdings

Hong Kong-based CC Land Holdings Limited, an investment vehicle owned by Cheung Chung-Kiu, has made another London purchase after buying Paddington Central Office from the Cityhold Office Partnership. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


bcIMC Said Goodbye to Silver Birch Hotels

This West Coast Canadian pension sought to sell off hotel assets in favor of retail, office and industrial assets in Canada. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


India deals

Another Canadian Pension Inks Real Estate Strategic Partnership with Piramal

In an ongoing trend, yield-hungry Canadian pensions continue to provide capital for Indian developers. Ivanhoé Cambridge, the real estate unit of Caisse de dépôt et placement du Québec (CDPQ), signed an agreement to form a strategic partnership with Piramal Enterprises Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


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 […]


GIC Partners with Beacon Capital on Prime DC Real Estate

Large asset owners such as sovereign funds continue to provide U.S. real estate managers the ability to diversify their portfolios. In a massive institutional real estate deal, Singapore’s GIC Private Limited formed a joint venture with a number of investors to buy into a Washington D.C. office portfolio. With law firms and lobbyists pulling back […]