Archive | June, 2012

AIMCo Posts 7.9% Gross Return for the Latest Fiscal Year

The Alberta Investment Management Corp (AIMCo) which manages the Alberta Heritage Savings Trust Fund and other funds posted a 7.4% return (net of fees) on investments for the latest reported fiscal year. AIMCo performed well relative to its peers, the CPP Investment Board returned 6.6% for fiscal year 2012. Two major contributing investment return factors […]

APFC Board Gives Approval to Single-Family Homes Strategy

According to the permanent fund’s press release, “The Alaska Permanent Fund Corporation Board of Trustees gave final approval to a $400 million allocation to purchase foreclosed homes at a special meeting on Tuesday via teleconference. The Board had given preliminary approval to the allocation, pending further negotiations, at its regular meeting in May. American Homes […]

Sovereign Wealth Fund Direct Transactions Update June 2012

Globally, sovereign wealth funds have been diversifying into new geographies and sectors. According to the Sovereign Wealth Fund Direct Transaction Database (SWFTD), around US$ 29.29 billion (trailing four quarters starting at Q1 Year 2012) has been directly invested in the financial sector by sovereign funds. In fact, financial sector direct investments consisted of 36% of […]

Aabar Gets More Exposure to Tesla Motors

Blackstar InvestCo LLC which is 60% owned by Daimler North America Corporation and 40% owned by Aabar Blackstar Holdings GmbH which in turn is ultimately owned by Aabar Investments moved 3.245 million Tesla shares to Aabar Investments. This is around 40% of its stake that was shifted which was in connection with the redemption by […]

CalPERS Takes One-Third Ownership Stake in Bentall Kennedy

According to the press release, “The California Public Employees’ Retirement System (CalPERS) today announced that it has invested approximately $100 million in Bentall Kennedy, becoming a one-third owner in one of North America’s largest real estate investment advisors. CalPERS acquired the ownership interest in Bentall Kennedy that has been held for the past two decades […]

Canadian Pensions Look to Asian Public Markets

Most public pensions whether in the United States or Canada have minuscule asset exposure to Chinese public equity markets. There are numerous reasons for this including China’s tight controls on foreign capital. More public investors have greater access to these Chinese markets through private equity funds and other joint ventures. The Ontario Teachers’ Pension Plan […]

Korea’s NPS Opens up London Office

Setting up regional offices is paramount for long-term public investors who invest internationally, as on-the-ground presence is crucial for accessing important investments and local managers. The $320 billion National Pension Service of Korea opened up an office in London. South Korea’s largest public pension fund is expanding its reach in Europe. Earlier, the Korea Investment […]

RDIF and Kuwait Investment Authority Cement Co-Investment Mechanism Deal

According to the press release, “During a meeting at the St. Petersburg International Economic Forum between Russian President Vladimir Putin and the heads of leading global investment and securities firms, the Russian Direct Investment Fund (RDIF) and Kuwait Investment Authority (KIA) announced the launch of an automatic co-investment mechanism. The initiative, which will see KIA […]

Abertis Closes the Sale of 7% of Eutelsat to China Investment Corporation

According to the press release, “abertis agreed to sell 7% of Eutelsat to China Investment Corporation (CIC) for €385.2 million. The transaction, which generated net capital gains of €237 million, follows abertis’ January sale of 16% of Eutelsat in a private placement among qualified investors. abertis will remain a Eutelsat shareholder, with a stake of […]

Norway’s GPFG Divests from Major Israel Real Estate Development Company

According to this press release, “The Ministry of Finance has excluded the company Shikun & Binui Ltd. from the investment universe of the Government Pension Fund Global (GPFG). The decision to exclude the company follows an exclusion recommendation from the Council on Ethics to the GPFG. The company is a construction company involved in the […]

Libya Investment Authority Wants Refund from Goldman Sachs and SocGen

Sovereign wealth funds can survive financial catastrophes and now political revolutions. The Libya Investment Authority (LIA) trusted a large portion of its assets to global investment houses. The LIA lost US$ 1.75 billion in structured product investments managed by Goldman Sachs and Societe Generale according to Mohsen Derregia, chairman of the Libyan Investment Authority. Globally, […]

NHL Approves Toronto Maple Leafs Proposed Sale

The Ontario Teachers’ Pension Plan (OTPP) will receive about $1.32 billion for selling a 79.5% stake in its majority share of Maple Leaf Sports and Entertainment to Rogers Communications and BCE Inc. Both firms, through a partnership, will each control 37.5% of the team, the Toronto Raptors, Toronto FC of Major League Soccer, AHL’s Toronto […]

NPRF Welcomes the First Investment by Irish Infrastructure Fund

According to the press release, “The National Pensions Reserve Fund has welcomed today’s announcement of the first investment by the Irish Infrastructure Fund (IIF) following its acquisition of a majority stake in a portfolio of wind farms from Viridian Group. Speaking today, NPRF Commission Chairman Mr. Paul Carty said: “This is an important first investment […]

Irish NPRF Partners with Silicon Valley Bank

Silicon Valley Bank is planning to lend $100 million to fast-growing Irish technology, life science, cleantech, private equity and venture capital businesses over five years, subject to its usual lending criteria. This is through a new partnership with the Irish National Pension Reserve Fund (NRPF). The NRPF has taken an inward focus ever since the […]

Mexico’s $120 Billion AFOREs Can Now Invest in Commodities

Pension funds, known as AFOREs (Administradoras de Fondos para el Retiro) in Mexico, are some of Mexico’s largest institutional investors. 1.68 trillion pesos are under management with Mexican pension funds which equates to US$ 120.6 billion. Starting June 20, 2012, AFOREs will be able to invest in the majority of commodity-linked securities. In addition, AFOREs […]

Invest AD Establishes Operations in Morocco

Invest AD which is owned by the Abu Dhabi Investment Council (ADIC) has opened up an office in Casablanca Finance City. Another organization, AD Capital, an arm of Abu Dhabi’s National Holding has opened up an office there as well. Invest AD is active in investing in Africa and views the city as a prospective […]

Temasek Holdings Believes in the China Story

Temasek Holdings Pte, one of Singapore’s sovereign wealth funds is a major public investor in China. The sovereign wealth fund through various investment entities has Chinese exposure in companies, funds, fixed income, private equity, and real estate. Temasek Holdings believes China is the economic anchor in Asia. The sovereign entity owns large stakes in China’s […]

KIA and Malaysia’s EPF Become Cornerstones in IHH Healthcare Bhd IPO

Increasingly, public investors are flocking to Malaysia to participate in a burgeoning initial public market. In fact, this might be the third largest IPO this year, with Facebook’s US$ 16 billion and Malaysia’s Felda Global Ventures Holdings Bhd which raised $3.13 billion earlier this week. IHH Healthcare Bhd is planning a US$ 2 billion initial […]

SNB Governor Rejects Idea of Swiss Sovereign Wealth Fund

Swiss National Bank Governor Thomas Jordan flatly rejected the idea of having a Swiss sovereign wealth fund to manage the central bank’s foreign reserves. He believes it would do little to assist Swiss monetary policy let alone the country. The Swiss National Bank diversifies its foreign currency reserves in a variety of assets including government […]

NY Fed Repays Loans to Maiden Lane LLC and Maiden Lane III LLC

According to the press release, “The Federal Reserve Bank of New York today announced that its loans to Maiden Lane LLC (ML LLC) and Maiden Lane III LLC (ML III LLC) have been fully repaid with interest. The original amounts of these loans were $28.82 billion and $24.3 billion respectively. Maiden Lane II LLC repaid […]