Real Estate

Permodalan Nasional Backs Merger Between SP Setia And I&P Group

Malaysian investment giant Permodalan Nasional Berhad (PNB) is moving forward on plans to merge both of its property investments, SP Setia Berhad and I&P Group Sdn Berhad, a township developer. At the moment, SP Setia and I&P Group have 5,218 acres and 4,263 acres of undeveloped land respectively in the Klang Valley, Johor Baru, Penang […]


SWFI First Read, April 23, 2017

Schroders to Buy Adveq In a bid to diversify into the lucrative world of alternative investments, Schroders PLC, a FTSE 100 investment management company, made its move to buy Adveq Holding AG (Adveq), a specialist private equity business. Adveq was founded in Zurich in 1997. Bruno E. Raschle, Executive Chairman of the Board of Directors […]


Sovereign Funds Went Big in the Final Quarter of 2016

Despite a succession of political shockwaves, sovereign wealth funds went back to plowing money into direct investments in the fourth quarter of 2016, investing US$ 60.31 billion versus US$ 30.43 billion in 4Q 2015, according to data from the Sovereign Wealth Fund Institute (SWFI). The SWFI transaction database tracks direct transactions made by sovereign funds, […]


$3.39 Trillion Allocated to Equities by Sovereign Funds in 2016

The Sovereign Wealth Fund Institute (SWFI) research team estimates that at the end of 2016, US$ 3.39 trillion was being allocated to the listed equity asset class, an increase from 2015. There was also slightly increased asset allocation percentages in private equity, real estate and infrastructure, with fixed income facing a pullback. Sovereign fund allocation […]


SWFI First Read, April 18, 2017

Norway Sovereign Fund Supports Credit Suisse on Executive Compensation Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, plans to vote in favor of Credit Suisse’s planned payouts to senior managers, according to a fund statement. NBIM agreed and welcomed the statement made by Credit Suisse’s board of directors on April 13, […]


KWAP Invests in Penang Coast Township Development

Kumpulan Wang Persaraan (KWAP) has acquired an ownership stake in a township development along Penang’s northeastern coast and also acquired an ownership interest in Eastern & Oriental Berhad, the developer of the project that is listed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 16, 2017

Starwood Capital Group to Acquire Forestar Group Affiliates of Starwood Capital Group inked a deal to buy Austin-based Forestar Group Inc. for US$ 605 million in equity value. Forestar Group is a residential and mixed-use real estate development company – owning around 4,600 acres of real estate across 10 states in the U.S. Forestar Group […]


SWFI First Read, April 14, 2017

Slight Postponement in QIA-BRF Deal for Banvit The Qatar Investment Authority (QIA) and BRF SA’s deal to acquire Banvit Bandirma Vitaminli Yem Sanayii AS (Banvit), Turkey’s largest poultry producer, has been briefly postponed due to document and precondition issues. In a public filing, Banvit revealed paperwork wasn’t ready in time for the company’s annual general […]


SWFI First Read, April 13, 2017

CICC Finalizes China Investment Securities Transaction China International Capital Corporation Limited (CICC) finalized its acquisition of Shenzhen-based China Investment Securities Co. from Central Huijin Investment Ltd. for 16.7 billion RMB (US$ 2.5 billion). CICC bought 100% of the shares. The deal was signed and publicly released on November 4, 2016. Central Huijin Investment and related […]


Manulife Wants a Big Presence in Singapore, Buys PwC Building

Manulife Financial Corporation (Manulife) is keen on expanding its financial footprint in Southeast Asia. In its first property deal in Singapore, Manulife Real Estate acquired 8 Cross Street (known as the PwC Building), a 28-storey, 355,000 square foot, Class A office tower, for the price of US$ 526 million from DBS Group Holdings. [ Content […]


Metrolinx Sells 141 Bay Street to Ivanhoe Cambridge and Hines

Ivanhoé Cambridge, the real estate unit of CDPQ, and Hines, bought land at 141 Bay Street from Metrolinx, Ontario’s regional transportation agency for the Greater Toronto and Hamilton Area. The land is located in downtown Toronto. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalPERS Seeks to Emulate the Reference Portfolio Concept

The California Public Employees’ Retirement System (CalPERS) is moving toward the reference portfolio model, emulating the likes of the Ontario Teachers’ Pension Plan (OTPP), Canadian Pension Plan Investment Board (CPPIB), GIC Private Limited and the New Zealand Superannuation Fund. Mega pension CalPERS has slowly reduced exposure to private equity over the past months. In April, […]


German Pension RVK Acquires Berlin Property

Rheinische Versorgungskassen (RVK), a German pension fund founded in 1888 whose members include civil servants in the region, acquired a central Berlin mixed-use property called Quartier am Auswärtigen Amt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi PIF to Back Al Qidiya Entertainment City Development

In a statement by Saudi Deputy Crown Prince Mohammed bin Salman bin Abdulaziz through the Saudi Press Agency, commented that the Public Investment Fund (PIF) is the main institutional investor in an entertainment city project south of Riyadh, located in Al Qidiya. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


SWFI First Read, April 8, 2017

KWSP Invests in Melbourne Square Project Malaysia’s Employees Provident Fund, also known as KWSP, is investing 154 million AUD, alongside Malaysian industrial group OSK Holdings, in a mixed-use development in the centre of Melbourne in Australia called Melbourne Square. KWSP is taking a 49% stake in Yarra Park City, a unit of OSK Holdings that […]


london

BVK and VKB Join Investor Group to Acquire the Olympia London Exhibition Centre

Versorgunskammer (BVK) and Versicherungskammer Bayern Group (VKB), which has €48.5 billion in assets, are part of an investor group buying the 130-year-old Olympia London Exhibition Centre for a gross cash consideration of £296 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CPPIB Invests Into Indian Retail Platform Led by The Phoenix Mills

The Canada Pension Plan Investment Board (CPPIB) has constructed more inroads into the Indian retail real estate sector, targeting growth cities in India. CPPIB and The Phoenix Mills Limited (PML) inked a definitive agreement to develop, own and operate retail-led mixed-use developments across India. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


Follow the Money – Episode 36

This episode was recorded on April 5, 2017. Rachel and Michael talk about current events in the world of institutional investors. There is an update on Mubadala and its 2016 financial results. Michael brings up data centers, which leads into chatting about Seattle. They both touch on moral issues when it comes to divesting investments […]


NCB Capital Awards Fidelity Shariah-Compliant Real Estate Mandate

Middle East and Asian investors are cherry picking real estate investing in the core euro-zone region, seeking income-producing properties. NCB Capital, the investment banking division of Saudi Arabia-based National Commercial Bank, awarded a real estate mandate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, April 4, 2017

Cowen Makes Moves, Inks Deal to Buy Convergex Group The Cowen Group agreed to a deal to purchase New York-based Convergex Group, an agency-focused global brokerage and trading related services provider, for US$ 116 million in cash and stock from a group of investors including BNY Mellon, private equity firm GTCR and other investors. In […]