Real Estate

With $50 Billion, Trending Slowdown in 1H Sovereign Fund Direct Investments for 2017

Source: Sovereign Wealth Fund Transaction Database As of June 28, 2017, the Sovereign Wealth Fund Institute (SWFI) can report that first half direct transactions made by sovereign wealth funds for 2017 totaled US$ 50 billion, compared to the first half of 2016 at US$ 54.17 billion and 2015 at US$ 67.3 billion. However, overall, from […]


Clock Ticks on Possible GLP Buyout Deal

Singapore-based Global Logistics Properties Ltd. (GLP), the US$ 9.6 billion listed warehouse developer, had started a bidding process at the start of 2017 being initiated by its largest shareholder. As of June 2017, Singapore’s GIC Private Limited remains the largest shareholder in GLP with a beneficial interest of 36.93%, commanding 1,730,706,817 company shares. GIC holds […]


Denmark’s Industriens Pension Invests in a Number of Motorway Investments

Industriens Pension has invested in the Northwest Parkway toll road in the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

SWFI First Read, June 21, 2017

Former Shutterfly CEO Joins Vision Fund Jeffrey T. Housenbold, the former CEO of Shutterfly, Inc., has joined SoftBank Group as a senior investing member of the massive Vision Fund. Bidders Lineup for Senior Housing Business of LendLease China-based Cindat Capital Management, The Blackstone Group and GIC Private Limited are among a group of suitors for […]


CIC Takes a Stake in 1515 Broadway Office Tower

SL Green Realty Corporation had made moves to recapitalize the 54-storey office tower at 1515 Broadway in Manhattan in early January. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Japan Post Scrapped Nomura Real Estate Takeover Dreams

Japan Post Holdings Co., Ltd., formerly a government agency, has officially backed away from plans to buy Nomura Real Estate Holdings Inc. over price concerns and deal terms. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 20, 2017

Landmark Merger Approved by Shareholders of Standard Life and Aberdeen Asset Management The merger between Standard Life and Aberdeen Asset Management is going through as shareholders overwhelmingly approved the deal. More than 98% of Standard Life shareholders and more than 95% of Aberdeen shareholders approved of the merger. The new company will be called Standard […]


SWFI First Read, June 13, 2017

Natixis AM Hires Former UBS GAM EMEA Sales Executive Oliver Bilal, a former Head of Europe, Middle East and Africa (EMEA) for UBS Global Asset Management, has joined to become Head of International Sales and Marketing at Natixis Global Asset Management. Bilal will report to Jean Raby, CEO of Natixis Global Asset Management. In addition, […]


Game On, QIA to Acquire 9665 Wilshire

With geopolitical headwinds flashing in the background, the Qatar Investment Authority (QIA) had move to close on the acquisition to acquire 9665 Wilshire in Beverly Hills, which is a 10-storey office building, with their real estate investment partner Douglas Emmett, Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


Mapletree Investments Embarks on Second Student Housing Buy from Kayne Anderson Real Estate

Feeding the hunger of investors’ demand for student housing in developed markets, Singapore-based Mapletree Investments Pte Ltd., which is owned by Temasek Holdings, acquired another portfolio of assets from Boca Raton, Florida-based Kayne Anderson Real Estate Advisors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


blackstone

Blackstone Hearts Finland’s Sponda

The Blackstone Group is fresh off its agreement to sell its European logistics unit Logicor to the China Investment Corporation (CIC). Blackstone Group made an offer to acquire all of Sponda’s shares for €1.8 billion. Sponda is a storied Finnish real estate company, which owns office and retail properties in the country’s biggest cities. [ […]


Ascott Residence Trust to Acquire DoubleTree by Hilton Hotel New York

The Ascott Residence Trust Management Limited, the manager of the Ascott Residence Trust, had entered into a conditional sale and purchase agreement to buy the hotel property known as DoubleTree by Hilton Hotel New York for an aggregate purchase price of US$ 106 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


BIG DEAL: CIC Acquires Logicor

The China Investment Corporation (CIC) beat out other bidders to acquire Logicor for €12.25 billion from The Blackstone Group. London-based Logicor is Blackstone’s pan European logistics company that operates a portfolio of logistics assets totaling 147 million square feet, in 17 countries with over 70% concentrated in the U.K., Germany, France and Southern Europe. The […]


SWFI First Read, June 2, 2017

Russian Direct Investment Fund Leads Investors into GlobalTruck The Russian Direct Investment Fund (RDIF) has agreed to invest in GlobalTruck, one of Russia’s largest independent transport groups, working in road transportation across Russia. RDIF invested alongside Middle Eastern investors in the deal, with a total aggregate investment exceeding US$ 50 million. GlobalTruck will use the […]


RDIF Plays Hand in Southern Satellite City Development

Founded in St. Petersburg, Renaissance Construction LLC is a construction, development and investment company that is owned by Turkey-based Ronesans Holding AS. Erman Ilıcak is the founder of Ronesans Holding AS. The RDIF, Renaissance Construction together with the Government of St. Petersburg and the Southern Satellite City LLC, have agreed to jointly establish the Southern […]


SWFI First Read, May 31, 2017

Anbang Insurance Group Acquires Doubletree by Hilton Amsterdam China’s Anbang Insurance Group acquired the 557-room Doubletree by Hilton Amsterdam Central Station for roughly €350 million from The Blackstone Group. CBRE had advised Blackstone on the deal. Tech Luminaries and Billionaires Raise Money for Change.org San Francisco-based Change.org, a social for-profit petition platform, has raised US$ […]


Ivanhoe Cambridge Buys 85 Broad Street, Former Goldman Sachs HQ

Ivanhoé Cambridge, the real estate arm of CDPQ, and its partner Callahan Capital Properties announced that they have acquired 85 Broad Street, a 30-storey office building in Downtown Manhattan, New York, for approximately US$ 650 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Some Senators Have National Security Concerns on Foreign Property Investors

Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower. The China Investment Corporation (CIC) officially opened […]


China Life Finances ElmTree US Portfolio with $950 Million Recap

For quite some time, China Life Insurance Group, the largest financial insurance corporation in China, has signaled a desire to invest in overseas fixed income investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s SWF Portfolio Net Rental Income Could Reach $1 Billion by 2018

Norway’s Government Pension Fund Global (GPFG) is active in the world of institutional real estate. The wealth fund generated US$ 886.46 million worth of net rental income in 2016 versus US$ 124.38 million in 2012. For those new to institutional real estate, net rental income is the income remaining after subtracting qualified expenses from the […]