Real Estate

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 [...]


CalPERS’ Tollette Wants to Eliminate Uncompensated Complexity

  The California Public Employees’ Retirement System (CalPERS) had its investment committee meeting in which Wylie Tollette, CalPERS’ chief operating investment officer, reported his findings to the board. In the board meeting, Tollette touched on the pension system’s ongoing effort to rein in investment costs – an effort initiated by the late CalPERS CIO Joe [...]


blackstone

GE Capital Slims: Asset Sales to Blackstone and Wells Fargo

GE is changing. The company is rapidly shrinking the size of its GE Capital unit (once a key revenue driver), while focusing on its industrial businesses which range from expensive medical devices to jet turbines. The U.S. corporate giant is targeting to have 90% of its earnings generated by industrial businesses in 2018, up from [...]


Leo de Bever

Norway’s Sovereign Fund Contemplates Infrastructure Allocation, Boosting Real Estate

The Norwegian Ministry of Finance is moving forward on assessing whether the sovereign wealth fund should boost allocation over its 5% cap in real estate and begin to invest in unlisted infrastructure. Norway’s Government Pension Fund Global (GPFG) made headways investing in properties in cities such as London, New York and Boston. The sovereign fund, [...]


Friday SWFI News Roundup, April 10, 2015

Does this cute cat have your attention? Here are the roundups for April 10th. Investment Corporation of Dubai Invests in 3 Luxury Hotels Gulf sovereign wealth funds are betting big on luxury hotel properties. The Investment Corporation of Dubai (ICD) invested in three luxury hotels – two in the United States and one in South [...]


Past 12 Months in Direct RE, Sovereign Funds Spent Over $35 Billion

Increasingly, sovereign wealth funds and pensions are making more direct investments, especially in real estate and infrastructure. Instead of simply handing money to managers, wealth funds are forming strategic partnerships with commercial developers, banks, life insurers and other pools of capital. According to SWFI’s Sovereign Wealth Fund Transaction Database, sovereign funds directly invested over US$ [...]


Lend Lease and Big SWF Win Bid for Singapore Redevelopment

Property and development giant Lend Lease is expanding its presence in Singapore in which the company’s CEO Steve McCann views as a key growth market for large-scale urban regeneration projects. Lend Lease and its sovereign wealth fund partner are acquiring a land parcel Paya Lebar Central development site in Singapore for S$ 1.6 billion. However, [...]


Kuwait Investment Authority Buys Remaining Share of Sudan Hotel Investment

Sudan, once known as the bread basket of the Arab world, is keen on promoting its fledgling tourism industry, despite current sanctions by the United States. On March 26, 2015, the Kuwait Investment Authority (KIA) signed a deal to acquire full ownership in a Sudan real estate company. [ Content protected for Sovereign Wealth Fund [...]


GIC Goodman Joint Venture Acquire Wynyard Office Building

Wynyard Precinct Holdings, the joint venture unit created by Singapore’s GIC Private Limited and Goodman Property Trust, bought an office tower from Flecther Building Ltd., a subsidiary of Fletcher Construction, for NZ$ 86.2 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, March 27, 2015

TRS Delivers 8.51% for 2014 Return The Teacher Retirement System of Texas posted an 8.51% return for 2014, beating its policy index by 0.04%. The highest performing asset class for the pension system was stable value which posted 21.4%. Real return asset class posted 10.2%, followed by risk parity at 8.1% in return. Directional hedge [...]


Norway’s Sovereign Wealth Fund Invests in Google DC Property

Norges Bank Investment Management (NBIM), the manager of Norway’s massive sovereign wealth fund, invested with TIAA-CREF in a Washington D.C. office property. The deal values the property at US$ 307 million. NBIM bought a 49.9% stake in the building which touts Google as a key tenant for US$ 60.8 million. The property asset is encumbered [...]


India deals

Sovereign Fund-Backed Indian Real Estate JV Buys Brooke Bond

Major Indian property developer Brigade Group announced the 100% purchase of Brooke Bond Real Estate Private Limited, through Brigade Properties Private Limited, its 2014 joint venture with Singapore’s GIC Private Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Exeter Property Group and GIC Form European Logistics Partnership

Singapore’s GIC Private Limited, one of the country’s sovereign wealth funds, entered into a partnership with Exeter Property Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


AustralianSuper Buys Stake in Biggest Open-Air Mall

Arising from Chapter 11 bankruptcy nearly five years ago, General Growth Properties Inc., a major player in the realm of mall asset management, sold a 25% interest in Honolulu’s Ala Moana Center for US$ 1.37 billion to AustralianSuper, a massive superannuation institutional investor. The deal values Ala Moana Center at approximately US$ 5.5 billion. General [...]


ICD and Brookfield to Construct $1 Billion Financial Center Project in Dubai

Increasingly, European and Asian financial institutions have a desire to get access to the economic growth story in Africa and the Gulf region. Some of the largest Gulf cities have formed special zones to lure investors and businesses. Jumping on the newly-found demand trend are Jumping on the trend are real estate developers and institutional [...]


london

ADIA Throws Hat Into Maybourne Hotel Group

Abu Dhabi Investment Authority (ADIA), a major sovereign wealth fund institutional investor in hotels globally, is gunning for a £1.6 billion acquisition of Maybourne Hotel Group which is owned by holding company Coroin Ltd. Maybourne Hotel Group owns luxury hotels Claridge’s, the Berkeley and the Connaught in London. ADIA currently owns the 5-star hotel The [...]


Korea’s NPS to Allocate 2 Plus Billion into Hedge Funds

After carefully studying hedge funds, Korea’s National Pension Service (NPS) plans to allocate 2.5 trillion won (US$ 2.27 billion) into the asset class. Hedge funds are looking more offshore to raise money, as a number of large U.S. pensions and European pensions have rebuffed them. The allocations will most likely occur near the end of [...]


Qatar Sovereign Fund Moves in on Milan Business District

Sovereign wealth funds are breathing life into Italy – at least into office real estate. Hines Italia SGR, part of Houston-based Hines, announced that Qatar Investment Authority (QIA), through Qatar Holding LLC, has taken a 100% interest in the Porta Nuova district in Milan. The QIA had a 40% stake in the massive mixed-use development [...]