SWFI First Read, August 22, 2017

Alaska Permanent Fund Corporation Posts 12.57% FY 2017 Return The Alaska Permanent Fund Corporation returned 12.57% in fiscal year 2017. APFC ended June 30, 2017 with a total record value of US$ 59.8 billion. BlackRock Eyes Investment in Hyundai Merchant Marine BlackRock is in talks to possibly commit around 1 trillion KRW into Hyundai Merchant […]

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GIC and Temasek Sell Stakes in Dufry to HNA Group

HNA Group, the Chinese conglomerate that owns properties and overseas company stakes, finalized a deal to purchase a 16.2% ownership stake in Dufry AG, a Swiss-based airport retailer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Expands Manhattan Property Empire

On August 18, 2017, Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (NBIM), acquired a 48% interest in 375 Hudson Street in New York City, in joint venture with Trinity Church Wall Street and Houston-based Hines. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

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How do Sovereign Investors approach ESG Investing?

This article is sponsored by State Street Global Advisors. Drawing on proprietary datasets of institutional investor surveys on Environmental, Social and Governance (ESG) investing, State Street Global Advisors (SSGA) have sought to identify distinct features of sovereign investors. While confirming that official institutions share many features with private sector investors, the study reveals some notable […]

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Powering Australian Renewables Fund Lines Up Financing for Coopers Gap Wind Farm

The Powering Australian Renewables Fund (PARF) signed an agreement with GE. The agreement entails GE supplying and installing 123 wind turbines for the Coopers Gap Wind Farm project at Cooranga North, 250 kilometers north-west of Brisbane. The installation is expected to be completed by 2019 and produce enough energy to power at least 260,000 homes, […]

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Dubai Aerospace Enterprise Finalizes AWAS Deal

Dubai Aerospace Enterprise (DAE) has acquired Dublin-based AWAS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CPPIB Participates in Calpine Buyout

Private equity firm Energy Capital Partners has led a group of investors which include the Canada Pension Plan Investment Board (CPPIB) to acquire Calpine Corporation (Calpine), one of the largest independent power generators in the United States, for US$ 5.6 billion in cash. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]

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  • SWFI First Read, August 22, 2017

    Alaska Permanent Fund Corporation Posts 12.57% FY 2017 Return The Alaska Permanent Fund Corporation returned 12.57% in fiscal year...
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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    U.S. Pensions Sue Banks Over Alleged Securities Lending Collusion

    The Orange Country Employees’ Retirement System (OCERS), Sonoma County Employees’ Retirement System and the Iowa Public Employees’ Retirement System, filed a lawsuit in the U.S. District Court in New York against six investment banks and EquiLend Holdings LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    POLITICAL CHAOS: Maldives Monetary Authority Governor Resigns

    Governor Zeema Adam of the Maldives Monetary Authority has resigned from her post with immediate effect. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    MassMutual Sells Asia Unit to Yunfeng Financial Led Group

    Massachusetts Mutual Life Insurance Company (MassMutual) is selling its Hong Kong business, MassMutual Asia Ltd., to an investor group led by Yunfeng Financial Group Ltd. for US$ 1.68 billion (HK$ 13 billion) in a cash and stock deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Florida SBA Votes to Prohibit Venezuelan Investments

    The Florida State Board of Administration (Florida SBA) unanimously approved a resolution to prohibit investments linked to Venezuela. The resolution was signed by the organization’s board members. Essentially, the new resolution modifies the current investment policy of Florida SBA. Here are the changes: 1. Florida SBA is prohibited from investing in any securities issued by […]


    CPPIB Engages in Brazilian Portfolio Exchange with Cyrela Commercial Properties

    Despite political headwinds in Brazil, the Canada Pension Plan Investment Board (CPPIB) is maintaining an opportunistic posture toward Brazilian office properties, specifically the São Paulo’s prime Faria Lima office district. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    doha sovereign wealth fund

    QIA Direct Equity Ownership in Credit Suisse Falls Below 5%

    Qatar Sheikh Abdullah bin Mohamed bin Saud al-Thani, who heads the Qatar Investment Authority (QIA), explained in the Lusail paper that, “We have just completed a tour of several countries around the world and you will hear about significant investments soon.” The QIA reduced its direct share position in Credit Suisse from 5.01% back down […]


    DECADE: Norway Sovereign Wealth Still Views Wal-Mart as a Human Rights Violator

    Norges Bank, the overseer of Norway’s Government Pension Fund Global (GPFG), typically follows given recommendations from the Council on Ethics appointed by Norway’s Ministry of Finance when it comes to excluding companies for the sovereign wealth fund. For over a decade now, Wal-Mart Stores Inc. and Wal-Mart De Mexico SA de CV remain on the […]


    For How Much Longer Are Sovereign Funds Expecting Lower Volatility?

    Given that U.S. stock market volatility remains subdued and measures are touching new lows, some chief investment officers are growing concerned that a possible equity market correction could occur in the near term. Sovereign investors have expressed a level of unease over the flood of quantitative easing money seeping into global equity markets. These central […]


    Snack, Crackle, Drop! Temasek Exits Snapchat

    A number of high profile concentrated investors had sold off positions in Snap Inc., a social media app company, post-March 2017. David Tepper’s Appaloosa Management dumped 100,000 shares of Snap during the second quarter of 2017, while increasing his hedge fund’s position in Facebook stock. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


    NZ Super Goes Low-Carbon on Global Passive Equities Portfolio

    The New Zealand Superannuation Fund (NZ Super) announced that its massive global passive equity portfolio, which makes up around 40% of the fund’s assets, is now low-carbon. According to the organization, NZ Super essentially diverted NZ$ 950 million from 297 companies with high exposure to carbon emissions and reserves. [ Content protected for Sovereign Wealth […]


    Florida SBA Acquires North San Jose Office Complex

    Florida State Board of Administration (Florida SBA), through an account managed by MetLife Investments, acquired Orchard Commons office campus located in San Jose, California for US$ 105 million. Orchard Commons is a 22-acre property, consisting of six buildings, that is about 84% leased. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


    CPPIB and Phoenix Hill Platform Acquire Site for Pune Retail Development

    Indian developers are building out properties to the West of Pune due to growth in residential and commercial property developments. Pune is the eighth biggest city in India, with a population of 5.75 million people. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Norway’s Ministry of Finance Names Commission to Study Wealth Fund Investments

    Norway’s Ministry of Finance named a commission to analyze, review and assess the current management of Norway’s Government Pension Fund Global (GPFG). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    SWFI First Read, August 14, 2017

    GIC Hires Wu Choy Peng as Technology Head Singapore’s GIC Private Limited hired Wu Choy Peng as Chief Technology Officer. Previously, she was Group Chief Information Officer at Singtel. OPTrust Invests in James Evans & Associates On July 6, 2017, OPTrust made a strategic investment in James Evans & Associates Ltd, a pension administration services […]


    Cubico Taps Mexican Development Banks for Solar and Wind Project Financing

    London-based Cubico Sustainable Investments, which is jointly owned by Ontario Teachers’ Pension Plan (OTPP) and PSP Investments, raised in total US$ 450 million in project financing for a 600 renewable energy portfolio in Mexico. Broken up, the first part is a 350 MW solar power photovoltaic project located in El Llano, in the state of […]


    SWFI First Read, August 12, 2017

    SoundCloud Gets Lifeline from Temasek and Raine Group SoundCloud received lifeline capital from Temasek Holdings and Raine Group. SoundCloud is a music streaming service. The company had laid off 40% of its workforce, some 173 employees, in July 2017. It is rumored that the investment totaled €144 million. Investors Hungry for Tesla Unsecured Bonds Tesla […]


    CalSTRS Buys Phase 3 of Silicon Valley Office Property

    CBRE Global Investors, on behalf of California State Teachers’ Retirement System (CalSTRS), is investing US$ 610 million to acquire three office buildings at 3333 Scott Blvd in Santa Clara, California. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    CDPQ to Acquire Minority Stake in Sebia

    Caisse de dépôt et placement du Québec (CDPQ) acquired a minority stake in Sebia SA from private equity firms Astorg Asset Management and Montagu Private Equity. Sebia is a global multi-specialty in-vitro diagnostics company focusing on oncology, genetic haemoglobin and metabolic disorders; the company is headquartered in Lisses, France.[ Content protected for Sovereign Wealth Fund […]


    Since 2014, ISIS Had Stolen Over $750 Million Worth from Iraqi Banks

    The Central Bank of Iraq (CBI) declared that the Islamic State, also referred to as ISIS, had plundered roughly US$ 101 million and 856 billion Iraqi dinars to a total estimate of US$ 750 million over the past three years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


    Macquarie and PSP Investments Win Bid to Manage SA Land Registry

    Land Services SA is a joint venture between Macquarie Infrastructure & Real Assets (MIRA) and the Public Sector Pension Investment Board of Canada (PSP Investments). This investing group won a bid to manage the state of South Australia’s land registry and management services for the next 40 years for A$ 1.605 billion. [ Content protected […]


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