Archive | November, 2013

RDIF Adds Italy’s FSI to Diverse Array of Co-Investment Funds

The Russian Direct Investment Fund (RDIF) and the Fundo Strategico Italiano (FSI) signed an agreement on November 26 to contribute roughly US$ 1.35 billion to a strategic investment vehicle designed to promote trade and foreign direct investment in the two countries. According to details about the agreement, each entity will contribute €500 million to the […]

New Zealand Superannuation Fund Embraces Green Streak

Sovereign wealth funds have an eye for promising renewable energy companies – some successful, some not. The New Zealand Superannuation Fund (NZSF) invested US$ 55 million in Ogin Inc. Formerly known as FloDesign Wind Turbine Corporation, Massachusetts-based Ogin is a developer of wind turbines that utilizes aerospace technology. In its infancy, the startup received funding […]

Singapore Fund Buys Stake in Mumbai Motion Picture Company

Temasek Holdings (Private) Limited has, through several wholly owned subsidiaries, acquired a 7.38% stake in Mumbai motion picture company, Eros International Plc. On November 25, the Singaporean sovereign wealth fund Temasek made an SEC filing announcing that it had jointly acquired 1.7 million shares in the movie company on November 13. Eros debuted on the […]

Real Estate Saves the Day for Sovereign Fund Transactions

According to the Sovereign Wealth Fund Institute’s sovereign wealth fund transaction database (SWFTD), direct transactions aggregated by total deal amount was lower third quarter 2013 compared to third quarter 2012. The -14.97 percent drop in total deal amount reflects a pattern of smaller deal sizes being committed by sovereign wealth funds. Furthermore, 434 direct sovereign […]

Texas Permanent School Fund Commits to Two Euro Real Estate Funds

The Texas Permanent School Fund (TPSF) is expanding their institutional real estate portfolio, especially in European opportunities. They committed capital to two Europe-focused real estate funds. The permanent fund committed €60 million to London-based Tristan Capital Partners. In addition, the TPSF committed $75 million to Blackstone Real Estate Partners Europe IV. The Blackstone Group LP […]

Alaskan SWF Announces Emerging Market Finalists

Increasingly, sovereign wealth funds and public asset owners desire added exposure to emerging markets. The Alaska Permanent Fund announced four emerging market equities mandates have been awarded. Each mandate is for US$ 100 million. The search started in May 2013 with a target completion date of November 29, 2013. To fund the new mandates, selective […]

Sovereign Wealth Funds and Institutional Investors Lock into Cinda’s IPO

Norges Bank Investment Management manages Norway’s massive pool of sovereign wealth. Pivoting toward China, they are joining a group of cornerstone investors committing to purchase US$ 1.1 billion in China Cinda Asset Management Co. as part of its Hong Kong initial public offering (IPO). These cornerstone investors would total 45% of the IPO. Typically, cornerstone […]

Cassa Depositi e Prestiti Attempts to Stimulate Italian Housing Sector

Home prices are struggling in Italy’s residential sector. The Cassa Depositi e Prestiti (CDP), Italy’s state fund, has allocated €3 billion to purchase mortgage-backed securities and other assets as a plan to stimulate the Italian housing market. The current Italian mortgage market is smaller than their Northern neighbors. In addition, the CDP has reserved €2 […]

New Zealand Superannuation Fund Returns 3.65% During October

The New Zealand Superannuation Fund (NZSF) released its monthly report today for the fund’s performance through October 13, 2013. According to the release, the superannuation fund returned 3.65% during the month compared to a 2.10% return the month prior. It has returned 9.44% per annum since its inception in September of 2003. The newest gains […]

Norway SWF and AXA Real Estate to Acquire SZ Tower

Norges Bank Investment Management (NBIM) and AXA Real Estate Investments Managers, through subsidiaries, will acquire joint control of SZ Tower in Munich, Germany. According to a filing made on behalf of the two institutional investors, NBIM Otto Sarl, a fully-owned subsidiary of Norges Bank (the manager of Norway’s Government Pension Fund Global) and SCI Vendome […]

GIC Invests in Ascendas India Growth Programme

In 2011, Singapore’s GIC opened up their Indian office in Mumbai. The GIC is betting some capital in India’s office sector – expanding their real estate exposure in emerging markets. Trusting local partner, Ascendas Pte Ltd, the GIC is a principal investor in the Ascendas India Growth Programme. The Ascendas India Growth Programme has a […]

Canadian Public Investors Seed PasswordBox and Index

Increasingly Canadian public investors are participating as venture capitalists. On November 13, PasswordBox raised US$ 6 million in Series A funding. The lead investor was OMERS Ventures, the venture capital arm of OMERS, followed by angel investors Mark Britto, CEO of Boku and Lee Hinden, Head of Facebook eCommerce. With offices in San Francisco and […]

China Mobile Games and Entertainment Gets Investment Boost from China’s NCSSF

China Mobile Games and Entertainment Group Limited, a mobile gaming company, has announced a private placement of American depositary shares (ADS) at US$ 14.50 per ADS. Gross proceeds equated to US$ 16.4 million before deducting related expenses. Investor purchases were carried out by ICBC Credit Suisse Asset Management (International) Company Limited. Through this entity the […]

CalPERS to Receive $261 Million from JP Morgan Settlement

CalPERS will be on the receiving end of US$ 261 million in damages arising from a settlement entered into by JP Morgan Chase & Co., which were made public this morning. In the US$ 13 billion settlement reached between the mega bank and the U.S. Justice Department, CalPERS will receive the quarter of a billion […]

Brief Peak Inside the SAFE

What started as a small operation during the Asian Financial Crisis of 1997 now reverberates across capital markets and asset classes. The SAFE Investment Company invests money on behalf of China’s State Administration of Foreign Exchange (SAFE). China’s explosive growth over the last decade has filled the SAFE with foreign reserves, surpassing Japan’s massive pool […]

Dubai Airshow Attracts Sovereign Wealth Capital

Mubadala Development Company has inked a pair of US$ 2.5 billion deals at the 2013 Dubai Airshow to provide advanced composites to both Boeing and Airbus, according to statements made by the respective companies. Airbus Mubadala and Airbus have signed agreements to augment their participation in relation to aerostructures manufacturing. The deal builds on agreements […]

OTPP Plans to Acquire Burton’s Biscuit Company

Ontario Teachers’ Pension Plan (OTPP) announced its intentions early Monday morning to acquire Burton’s Biscuit Company, a Birmingham-based biscuit manufacturer. The terms of the transaction are not being disclosed; however, OTPP states that Burton’s management will maintain a minority stake in the company. Teachers’ Private Capital, OTPP’s private equity arm headed by Jane Rowe, led […]

NDFI Meets with Norwegian Ambassador and Halkbank CEO

A news release issued by the National Development Fund of Iran (NDFI) on Sunday states that the president of the fund, Dr. Seyyed Safdar Hosseini, met with Norwegian Ambassador to Tehran Jens-Petter Kjemprud to discuss potential collaboration between Norway’s sovereign wealth fund, the Government Pension Fund Global (GPFG), and the NDFI. According to the release, […]

Asian and Canadian Institutional Capital Flows to Australian Offices

According to on-the-ground Sydney real estate experts, offshore investors and local wholesale funds are driving demand for prime grade assets. These institutional and corporate buyers are betting immensely on Australian core real estate. Suntec Real Estate Investment Trust (Suntec REIT), a Singaporean property investor, purchased a proposed 31-story office tower to be developed by Leighton […]

Mubadala and Tata up Stake in Piaggio Aero

Mubadala Development Co., an Abu Dhabi-based state-owned entity, increased its stake in Piaggio Aero, a Genoa-based aeronautics company. Mubadala grew their stake from 33% to 41% on November 12, 2013. London-based Tata Ltd., part of the Tata Group, increased their position in Piaggio Aero from 33% to 44.5%. Both firms participated in the subscription increase […]