Real Estate

Norway’s Sovereign Wealth Fund Opens Tokyo Office

It’s official. Norway’s sovereign wealth fund has opened its first official office in Tokyo. The Tokyo office will focus exclusively on real estate, initially targeting the property markets of Singapore and Tokyo. The wealth fund began allocating to unlisted real estate in 2011 and plans to continue a similar strategy in Asia. For example, Norway’s [...]

SWFI First Read, October 8, 2015

ValueCap Getting Ready for November Purchases ValueCap Sdn Bhd, a Malayisan state-owned investor, plans to purchase undervalued stocks on Bursa Malaysia starting in November. This is a move to provide financial stability in Malaysian capital markets. ValueCap Sdn Bhd is owned by three investors, Khazanah Nasional, KWAP and Permodalan Nasional. These investors will be kicking [...]

BEPS tax

Pensions and Wealth Funds Back Latest TPG Fund

Wealth funds continue to deploy capital to well-known U.S. alternative managers, seeking firms with steady track records. The Blackstone Group, Apollo Global Management and KKR continue to raise behemoth real estate funds, TPG Capital wants in on the action. Fort Worth-based TPG Real Estate, the real estate platform of TPG Capital, raised over US$ 2 [...]

Why Institutional Investors Seek Income Stocks

The United States isn’t immune to a global economic slowdown. The U.S. labor participation rate dropped to its lowest level since 1977, while manufacturing struggles with a rising dollar and weak overseas demand. How are institutional investors positioning themselves? Increasingly, wealth funds like the Qatar Investment Authority (QIA) are looking at income generating investments. The [...]

SWFI First Read, October 6, 2015

Norway SWF Could Face Withdrawals As reported by SWFI months ago, Norway’s sovereign wealth fund is at risk of experiencing withdrawals from its government. Oil tax revenue is down 42% from 2014, and analysts forecast budget spending to exceed government income. Harvard Endowment Shifts Investment Model After Losing Against Peers Harvard Management Company is using [...]

SWFI – Movers and Shakers – October 6, 2015

Principal Global Investors Eyes Sovereign Wealth Funds, Hires Antoncic Principal Global Investors, part of financial giant Principal Financial Group, hired Madelyn Antoncic as executive director for institutional investment solutions. She will be based out of New York and report to Jim McCaughan, Principal Global Investors’ CEO. Principal Global Investors is seeking to build tighter bonds [...]

NBIM Completes Acquisition of Queensberry House in London

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 100% interest in 33 Savile Row in London. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, October 2, 2015

IFSWF Releases Milan Communique The International Forum of Sovereign Wealth Funds (IFSWF) released its Milan Communique. IFSWF continues to promote the Santiago Principles. IFSWF announced three new board members, Li Keping from China Investment Corporation, Deanna Ong from GIC and Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani from Qatar Investment Authority. Jin Liqun and Bader [...]

Heitman and GIC Invest in Macerich Malls for $2.3 Billion

Santa Monica-based Macerich Co., a self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States, reached an agreement to sell minority interests in eight U.S. malls for US$ 2.3 billion. Mall Transaction Details [ Content protected for Sovereign Wealth Fund Institute [...]

Karsten Kallevig Snags #3 on Public Investor 100-2015

SWFI Staff has released the Public Investor 100. He ranks 3 out of 100 for the SWFI Public Investor 100 – 2015. To see the full rankings Norway has a lot of dough to spend when it comes to overseas institutional real estate. MIT-educated Kallevig has a big job, being the Norwegian sovereign wealth allocator [...]

QIA PIPE Deal in Apollo REIT

The Qatar Investment Authority (QIA) re-announced their intentions to spend US$ 35 billion in the United States over the next five years. QIA has built long-standing relationships with many private equity firms, especially Apollo Global Management, LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

APG Hearts Student Housing

Education will never go out of business and wealthy international students are attracted to European universities. Dutch pension fund manager APG plans to kick in €100 million in a European student residential property company called Student Hotel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, September 29, 2015

Qatar Investment Authority Opens New York Office Qatar Investment Authority (QIA) officially opened a New York office. QIA pledged to invest US$ 35 billion over the next five years. BNY Mellon Grows Custodial Assets BNY Mellon’s custodial assets have risen to US$ 28.6 trillion in the 12 months through June. In August, the banking giant [...]

Friday SWFI News Roundup, September 25, 2015

Xie Ping Leaves CIC Xie Ping is stepping down from the China Investment Corporation (CIC) as executive vice president. The CIC board issued the decision and thanked Xie for his contributions to the sovereign wealth fund over the past eight years. CIC Convened 7th International Advisory Council Meeting On September 23, the China Investment Corporation [...]

SWFI First Read, September 24, 2015

CONFIDENCE: Temasek Buys Shares of ICBC Singapore’s Temasek Holdings, a major institutional investor in Chinese financial institutions, boosted its stake in Industrial & Commercial Bank of China Ltd. (ICBC) to 10% for HK$141 million. Temasek bought 30 million of ICBC H shares at an average price of HK$ 4.696. QIA Exposed to Volkswagen and Glencore [...]

SOFAZ Makes First Real Estate Investment in Japan

The State Oil Fund of Azerbaijan (SOFAZ) and Mitsubishi UFJ Trust and Banking Corporation together have acquired Kirarito Ginza in Tokyo for 52.3 billion JPY (US$ 435 million) from Elliott Advisors Asia Limited, a unit of hedge fund Elliott Management Corporation and Orix Real Estate, a unit of Orix Corporation (owner of Robeco). [ Content [...]

london real estate

NBIM Buys London Shopping Centre Above Bond Street Underground

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, purchased a 100% interest in the West One Shopping Centre and 75 Davies Street, a 90,000 square foot retail and office property located above Bond Street Underground station in London. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe [...]

SWFI First Read, September 21, 2015

82% of Polled Economists Wrong on Fed Move The Federal Reserve did not raise interest rates in September. Back in August, The Wall Street Journal surveyed economists over a 5-day span. 82% believe the Federal Reserve’s first rate increase would come in September. 13% believed the Federal Reserve would wait till December. Kessler Topaz Meltzer [...]

SWFI – Movers and Shakers – September 20, 2015

Robeco Names New Chairman and CEO Robeco Groep N.V, which is owned by ORIX Corporation, has appointed David Steyn as its new chairman and CEO, effective November 1, 2015. Previously, Steyn was head of strategy at Aberdeen Asset Management. He has also held a number of executive roles at AllianceBernstein. Steyn will replace Roderick Munsters [...]

Friday SWFI News Roundup, September 18, 2015

Mubadala Posts 15.9 Billion AED in Profit 1H 2015 Abu Dhabi-based Mubadala Development Co. posted 15.9 billion AED in profit for the first half of 2015. Mubadala’s total assets totaled 241.7 billion AED at June 30, 2015. During the first half of 2015, Mubadala and Trafigura announced the signing of an agreement to create a [...]