Real Estate
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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 […]

SWFI First Read, February 26, 2017

Chinese Government Capital Backs is a Chinese hotel search and booking engine that was founded in 2013. Haoqiao has raised 120 million RMB (US$ 17 million) in a fresh Series B round from China Merchants Capital Investment Co. and China National SME Development Fund. This is the China National SME Development Fund’s second […]

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 […]

CPPIB Takes 24.5% Stake in Houston Office Portfolio

The Canada Pension Plan Investment Board (CPPIB) is part of a group of investors that formed a joint venture to own the Greenway Portfolio, a 52-acre master-planned, mixed-use complex with 11 office buildings, totalling approximately 4.9 million square feet in office space. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

Cityhold Office Partnership Sells Paddington Central Office to CC Land Holdings

Hong Kong-based CC Land Holdings Limited, an investment vehicle owned by Cheung Chung-Kiu, acquired a London office building for £292 million from the Cityhold Office Partnership. The Cityhold Office Partnership is a real estate joint venture between Sweden’s AP1 and AP2. TIAA is also part of the partnership and manages it through its property unit […]

SWFI First Read, February 17, 2017

HNA Group Buys Small Stake in Deutsche Bank China’s HNA Group, a well-known massive conglomerate, purchase a 3.04% stake in Deutsche Bank. The transaction is estimated at £750 million. HNA Group indicated they could increase buying shares in the German bank. GIC Sold Some Shares in CGN Power Co., Ltd Singapore’s GIC Private Limited lowered […]

SWFI First Read, February 16, 2017

ADIA and CDPQ Eye Autostrade Investment Autostrade per L’Italia SpA, an Italian toll road operator, has attracted the interest of big asset owners such as the Abu Dhabi Investment Authority (ADIA), Caisse de dépôt et placement du Québec (CDPQ) and Allianz SE. The seller of the 15% stake in Autostrade is Atlantia. Mubadala Investment Company […]

SWFI First Read, February 14, 2017

U.S. Senate Confirms Mnuchin for Treasury Secretary In a 53 to 47 vote that was mostly along party lines, the U.S. Senate has confirmed Steven Mnuchin for U.S. Treasury Secretary. Mnuchin was CEO of OneWest Bank, the entity that acquired IndyMac. Nordea Gets Political Over Dakota Access Pipeline Nordea has decided to divest from bonds […]

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 […]

Sovereign Wealth Fund Sells 100 Pine Street to Rockpoint Group

After a holding period exceeding 10 years, this sovereign wealth fund was ready to sell. Boston-based Rockpoint Group, L.L.C. has acquired an office building in San Francisco for US$ 287.5 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

GIC UNITE JV Acquires Aston Student Village

Wealth funds and cash-rich pensions are getting more exposure to student accommodation portfolios in Occidental countries. Institutional investors are attracted to the United Kingdom’s higher education sector due to its perceived status. Unite Students, the student accommodation unit of Unite Group Plc, and Singapore’s GIC Private Limited have a 50:50 joint venture. That joint venture […]

Co-Founder of Townsend Group Kevin Lynch Passed Away

Kevin Lynch passed suddenly over the weekend on February 4, 2017 at his home in Naples, Florida. Kevin Lynch co-founded the Townsend Group in 1983. The Townsend Group is a major player in the world of institutional real estate consulting advising pensions, sovereign funds and other asset owners. Lynch is a member of the Pension […]

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 […]

Japan’s GPIF Preps for Real Estate Push

It is practically inevitable that cash-rich Japanese pensions and asset owners will participate in overseas real estate. Already, Japan Post Bank formed an institutional real estate division. Japan’s Government Pension Investment Fund (GPIF) is cautiously gathering information and building networks before they embark on investing in overseas institutional real estate.[ Content protected for Sovereign Wealth […]

USS Forms Joint Venture with Morgan Sindall Investments

The Universities Superannuation Scheme (USS) is on the forefront of endowment money inking partnerships with institutions to boost returns in a low-yield world. The massive endowment investor is attracted to investing in portfolios of properties producing long-term, stable returns. [ 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 […]

Korea’s National Pension Service Invests in One Vanderbilt Avenue

SL Green Realty Corporation, New York City’s largest office landlord, sold a 27.6% interest in One Vanderbilt Avenue to the National Pension Service of Korea (NPS), and a 1.4% interest to Hines Interest LP. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

NBIM Prologis Partnership Sold Three Bay Area Properties

A partnership formed by Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (NBIM), and Prologis, sold three logistics properties in the San Francisco Bay Area to JLL Income Property Trust. JLL Income Property Trust is managed by LaSalle Investment Management. Norges Bank Real Estate Management received US$ 38.3 million […]

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 […]