Real Estate

OMERS and Crown Estate Extend Partnership by £145 Million

Ontario Municipal Employees’ Retirement Scheme (OMERS), through Oxford Properties, has entered into a second deal with the Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA Buys Hotels in North Carolina Research Triangle

Abu Dhabi Investment Authority (ADIA) has acquired two hotels in North Carolina. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


COUNTERPOINT: Why Long-Term Investing Can Be Dangerous

Got your attention? Personally, I agree that, in general, large sovereign funds and pensions should invest for the long-term. There are scores of reasons why and thousands of papers produced by asset managers, think tanks and professors who believe so. Nearly every institutional investor with over US$ 100 billion in assets subscribes to the “long-term [...]


Friday SWFI News Roundup, May 22, 2015

Wealth Fund Commits to Mezzanine Fund The Alaska Permanent Corporation (APFC) allocated US$ 50 million to Audax Mezzanine Fund IV, an alternative credit fund. The sovereign fund has a 2.5% allocation to private credit. AIIB to Allow Non-Asian Countries to Bank’s Board The Asian Infrastructure Investment Bank (AIIB) will have a director from Germany on [...]


new york asset management

Wealth Fund-Backed LoanCore Realty Trust Readies IPO

Greenwich-based LoanCore Realty Trust is preparing for its initial public offering (IPO). The trust will be merging with its predecessor entity, DivCore Subordinate Debt Club I REIT Holding, LLC, to form a newly merged LoanCore Realty Trust. The trust will be managed by LoanCore Advisors, LLC, a wholly-owned subsidiary of LoanCore Capital, LLC. [ Content [...]


Singapore Sovereign Fund and CPPIB Buy Landmark Mall in Seoul

Affluent retail markets in Asia such as Seoul and Tokyo are luring sovereign wealth and pension dollars. Sovereign wealth funds like the Abu Dhabi Investment Authority (ADIA) and the State Oil Fund of Azaerbaijan (SOFAZ) have invested in Seoul real estate. GIC Private Limited, one of Singapore’s sovereign wealth funds, and Canada Pension Plan Investment [...]


QIA Denies Bid for Vietnam’s Tallest Tower

UPDATE – May 15, 2015: A Korean media outlet, Korea Joonang Daily, reports that the Qatar Investment Authority (QIA) is denying that it bid for Keangnam Hanoi Landmark Tower. There was a letter presented to Keangnam saying the QIA was interested and it was a “done deal.” The QIA said the letter was completely fake. [...]


Real Estate Roundabout, May 5, 2015

Ivanhoé Cambridge Buys Leased UBS GAM London Office Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), acquired 21 Lombard Street in London for £130 million. The class A office property is in the City district. The building is fully leased to UBS Global Asset Management. Ivanhoé Cambridge has been building [...]


5 Key Takeaways at SWFI’s Institute Fund Summit Asia in Seoul

  In late April, the Sovereign Wealth Fund Institute (SWFI) held its third Asia summit, this time in Seoul, Korea – a vibrant metropolis home to global companies such as Samsung, Hyundai and Lotte. South Korea’s rise to an economic powerhouse is fascinating. In 1957, South Korea and Ghana had nearly the same annual per [...]


Why ADIA or GIC Could be Ideal Owners for Starwood Hotels

Earlier Stamford-based Starwood Hotels & Resorts Worldwide Inc. publicly announced it was exploring strategic alternatives by hiring investment bank Lazard. Bruce Duncan, Starwood’s chairman, said on a conference call that “no option is off the table.” This could mean the hotel giant could be open to a takeover, buyout of another company, sell-off of assets [...]


superannuation

AustralianSuper Nears DC Office Portfolio Deal

AustralianSuper, Australia’s biggest superannuation fund, is nearing a close on a 49% stake in an office portfolio in the DC area from Brookfield Office Properties Inc. The transaction is yet to be completed. AustralianSuper could join the chorus of institutional investors such as Norway’s sovereign wealth fund and large Canadian pensions committing heaps of cash [...]


hong kong

BIG DEAL: ADIA Buys Stakes in Hong Kong Hotels

The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, is purchasing a 50% stake in three Hong Kong hotels from a group led by New World Development Co. Ltd in a HK$ 18.5 billion (US$ 2.4 billion) deal – one of Hong Kong’s largest real estate deals. ADIA is paying [...]


BEST QUARTER: Norway’s SWF Posts 5.3% Quarterly Return

Norway’s Government Pension Fund Global (GPFG) posted a 5.3% return for the first quarter of 2015 – earning a quarterly record of 401 billion kroner. The previous best performing quarters were in 2009, when the wealth fund generated 270 billion kroner in the second quarter and 325 billion in the third quarter. A key contributor [...]


london

Qatar SWF Gets Barclays Bros. Interest in London Luxury Hotels

Qatar’s sovereign wealth exposure is expanding in the luxury hotel market in London. A unit backed owned by the Qatar Investment Authority (QIA), Constellation Hotels, has purchased a 64% interest in a portfolio of London hotels. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, April 24, 2015

Qatar Sovereign Wealth Capital Backs North African Resorts Bangkok-based Minor Group is working with Qatari Diar Real Estate Investment Company, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), to construct two new resorts in North Africa. The resorts will be Anantara resorts. One of the resorts, Anantara Tozeur Resort, will be based in [...]


New York

Morgan Stanley’s IM Business Rejigs, $500 Billion by 2016

As of December 31, 2014, Morgan Stanley Investment Management reported US$ 403 billion in assets under management (AUM). This is compared to US$ 377 billion in AUM from December 31, 2013. Morgan Stanley Investment Management, which touts clients such as pensions, insurance companies, endowments and sovereign wealth funds, continues to compete for growing AUM in [...]


Prologis and Norway’s Sovereign Wealth Fund Acquire KTR Capital for $5.9 Billion

Norges Bank Investment Management (NBIM), manager of Norway’s Government Pension Fund Global (GPFG), signed an agreement to purchase a 45% stake for US$ 2.3 billion in a 60 million square feet industrial portfolio with additional development potential in a joint venture with Prologis. The transaction values the portfolio at US$ 5.9 billion. The joint venture, [...]


Saudi SOE Partners with Bunge to Buy Stake in Canadian Grain Handler

Saudi Arabia and its neighbors in the Gulf heavily rely on imported food. 80% to 90% of their food is imported. The kingdom’s neighbor, Qatar Investment Authority (QIA), created a unit to invest in farmland and other food opportunities called Hassad Food. Saudi Arabia has done the same. In 2011, late Saudi King Abdullah formed [...]


ADIA Sells Shares in Deutsche Annington

Back in December 2014, Deutsche Annington Immobilien SE, a German real estate apartment company, announced its intentions to buyout all of Luxembourg-based realty company GAGFAH S.A. The combination of Deutsche Annington and GAGFAH creates a company that has a portfolio of 350,000 residential units, with a total portfolio value of €21 billion. Sovereign Wealth Investment [...]


BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets. #1. Mexican Infrastructure On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA [...]