Archive | August, 2013

NSIA Appoints Stanbic IBTC as Local Custodian

The Nigeria Sovereign Investment Authority (NSIA) announced today the appointment of Stanbic IBTC as its local custodian. Stanbic IBTC’s custody team will work alongside JP Morgan, NSIA’s global custodian. According to a statement made via press release, “Stanbic IBTC was chosen due to its experience as a provider of integrated financial services including custody, asset […]

Thailand Sovereign Wealth Fund Proposal Strikes Again

The Bank of Thailand is once again giving thought to starting a sovereign wealth fund to handle its large foreign reserves. A Sovereign Wealth Fund Institute article from October, 2011, noted that the country would not be pursuing the development of a sovereign wealth fund with its then US$ 180 billion in reserves. New studies, […]

AIMCo Steps up Direct Investments, Less Reliance on Wall Street

On August 28, Ontario Teachers’ Pension Plan (OTPP) announced the sale of a 20% ownership stake in Glass, Lewis & Company – a proxy advisory firm – to Alberta Investment Management Corporation (AIMCo). Terms of the deal are not being disclosed. When asked to comment on the reason behind the purchase, Leo de Bever, CEO […]

Peru’s Fiscal Stabilization Fund May Look Overseas for Investments

Established in 1999, Peru’s Fiscal Stabilization Fund (FEF) may look to overseas investments. Locally known as Fondo de Estabilización Fiscal, the conservative-oriented US$ 7.1 billion sovereign wealth fund may seek higher yielding assets. Peruvian Finance Minister Luis Miguel Castilla is pushing for changes in fund strategy. On the economic policy front, the government of Peru […]

Nigeria Sovereign Investment Authority Selects 3 Managers for Stabilization Fund

The Nigeria Sovereign Investment Authority (NSIA) has appointed three new asset managers for their Stabilization Fund – 1 of 3 sovereign funds. The intent of the Stabilization Fund is to behave as a buffer against short-term macroeconomic instability. The Stabilization Fund has a conservative-orientation where capital preservation in nominal terms is of high importance. The […]

Public Release – 2Q 2013 Linaburg-Maduell Transparency Index Ratings

The second quarter results for 2013 on sovereign wealth fund transparency have now been released to the public. The Linaburg-Maduell Transparency Index was developed at the Sovereign Wealth Fund Institute by Carl Linaburg and Michael Maduell. The Linaburg-Maduell transparency index is a method of rating transparency in respect to sovereign wealth funds. Pertaining to government-owned […]

New Zealand Superannuation Fund Posts Record 25.8% Return for 2012-2013

A great performing year for the New Zealand Superannuation Fund (NZSF) as it posted a record 25.8% return in the twelve months till June 30, 2013. The last highest annual return was in 2010-2011, yielding 25.1%. The sovereign fund aims to pre-fund New Zealanders’ universal superannuation entitlements. The NZSF is now worth $23 billion. According […]

Europe Cools on Nuclear, Asian Investors Eye Urenco

In a post-Fukushima world, Europe has cooled interest in nuclear energy. The United Kingdom is privatizing noticeable state-owned entities and companies and seeks to continue the trend with nuclear fuel company Urenco. Established in 1971, Urenco is a world leader in uranium enrichment. And due to the nature of its product, has legal restrictions on […]

Mubadala Petroleum to Develop Offshore Thailand Oil Well

Mubadala Petroleum, in concert with KrisEnergy Limited, has recently announced the approval of an oil well development off the coast of Thailand near the Pattani and Malay Basins. According to a press release issued by Mubadala Petroleum, production will begin in the first half of 2015, with peak rates of 10,000 barrels of oil a […]

Temasek Holdings Captures Gain on Cheniere Energy Sale

In a sale reportedly worth US$ 257 million, Temasek Holdings Pte has unloaded all of its roughly 9.2 million shares of Cheniere Energy Inc (LNG). An article posted by the Sovereign Wealth Fund Institute earlier notes that Temasek acquired the shares in May of 2012 through a partnership with RRJ Capital. That purchase was worth […]

Sovereign Wealth Funds Are Approaching 6 Trillion in Assets

Sovereign wealth funds are approaching US$ 6 trillion in assets. Increases in stock markets globally have helped lift the value of sovereign wealth assets. “Rising globally, sovereign wealth funds are springing up from Africa to certain states in the U.S.,” commented Michael Maduell, President of the Sovereign Wealth Fund Institute. Asia and the Middle East […]

Oman Investment Fund Augments NCDEX Stake

The Oman Investment Fund (OIF) is said to be purchasing a 9.7% stake in futures exchange National Commodity & Derivatives Exchange Ltd. (NCDEX) to the tune of Rs 88 crore (US$ 13.6 million). According to the Economic Times, the NCDEX shares are being acquired from Delhi-based broker Jaypee Capital Services Limited. According to Sovereign Wealth […]

BMO Global Asset Management is a Platinum Sponsor of Institute Fund Summit 2013 Europe

BMO Global Asset Management is a platinum sponsor of the Institute Fund Summit 2013 Europe – a VIP public investor summit that hosts sovereign wealth funds, pensions, superannuation funds, central banks and other long-term government funds. The Institute Fund Summit 2013 Europe is being held in Frankfurt at the Jumeirah. About BMO Global Asset Management […]

Tread Carefully on U.S. Natural Gas Sovereign Wealth Fund

A popular story has emerged on the internet touting the benefits of the United States creating a federal sovereign wealth fund in order to harvest gains from the increase in proved natural gas reserves. A similar debate is occurring in the United Kingdom with regard to energy resources in the North Sea. Due to advances […]

Abu Dhabi Investment Council in Group in Shiba Park Building Transaction

An investor group led by Asia Pacific Land purchased the 14-story Shiba Park Building, also known as the Gunkan (or warship) building, in central Tokyo for over 100 billion yen (US$ 1.02 billion). Other investors in the deal included the Abu Dhabi Investment Council (ADIC), C.V. Starr & Co Inc. and Secured Capital Investment Management […]

Asian Sovereign Wealth Fund May Purchase Blackstone Stake in Broadgate Estate

In early 2013, the Blackstone Group hired Eastdil Secured and Bank of America Merrill Lynch to assist in selling their interest in the Broadgate Estate. Blackstone has a 50% interest in the massive 16-building complex in London’s financial district. The Blackstone Group bought the 50% stake in 32-acre Broadgate Estate from London-based real estate investment […]

The First Mexican Afore to Have an International Mandate

Afore Banamex, a major afore, is the first Mexican afore to have an international investment mandate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Deep Dive with Damon Krytzer, Trustee, the City of San Jose Police and Fire Retirement Plan

This interview will appear in the 3Q Y2013 (October 2013) issue of the Sovereign Wealth Quarterly. Damon Krytzer is #35 on the Public Investor 100. It is a ranking of the 100 most significant and impactful public investor executives of 2013. This is a Deep Dive with Damon Krytzer, Trustee, the City of San Jose […]

The Abu Dhabi Investment Authority is a Buyer of Hotels

The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. It often buys partial interest ownerships with leading real estate managers. Gulf sovereign wealth investors are keen to hotels, especially in gateway cities. By interpreting data through the Sovereign Wealth Fund Institute’s transaction database, ADIA has been […]

GIC Private Limited Part of Consortium that Acquires Total’s Gas Transport and Storage Unit

On July 30, 2013, Singapore’s GIC was part of a consortium to acquire Transport et Infrastructures Gaz France (TIGF) which is Total’s gas transportation and storage business for an enterprise value of €2.4 billion (US$ 3.25 billion). The consortium includes Snam (45%) an Italian gas storage and transport operator, Singapore’s GIC (35%) and EDF (20%). […]