Archive | March, 2014

Texas Teachers’ Hires Energy Investment Consultant

Austin-based Teacher Retirement System of Texas (TRS) is big on energy and natural resource investments. Being located in Texas, allows the pension giant insight in a burgeoning energy renaissance in industries like natural gas. Sovereign wealth fund capital from China, Singapore and New Zealand have found their way toward energy-generating assets and companies in Texas. […]

Libyan Wealth Fund Says Societe Generale Paid $58.5 Million in Alleged Bribes

Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA), is accusing France’s second largest bank Societe Generale SA, of channeling bribe money to secure business. The LIA accuses Societe Generale of paying a middleman, a Panamanian-registered company called Leinada Inc., US$ 58.5 million in alleged bribes to secure nearly US$ 2 billion in business from […]

Blackstone Raises €5.1 Billion for Euro Real Estate Fund IV

New York-based Blackstone Group LP has closed its Goliath-like European Real Estate Fund at its cap of €5.1 billion. This is Blackstone’s fourth European real estate fund – also being the largest dedicated European real estate fund the world has seen. Some institutional investors in the real estate fund include, New York State Teachers’ Retirement […]

More Public Asset Owners Open Offices in London

On March 28, 2014, Singapore’s Temasek Holdings celebrated the official opening of its European office in London at the fancy Millennium Copthorne Mayfair Hotel. Guests included Prime Minister of Singapore Lee Hsien Loong and Temasek Chairman Lim Boon Heng. Prime Minister Lee said to an audience during his London trip, “Singapore and London are two […]

RDIF and Eastern Institutional Investors Target Ag Firm Sodrugestvo

The Russian Direct Investment Fund (RDIF) with its group of institutional investors from the Middle East and China are investing in Sodrugestvo Group SA for a US$ 200 million stake. Incorporated in Luxembourg, Sodrugestvo is an agricultural processor and trader, generating US$ 2 billion in revenue in 2013. Founded in 1994, Sodrugestvo is the biggest […]

New Chairman for Trinidad and Tobago’s Sovereign Wealth Fund

According to Trinidad & Tobago’s Ministry of Finance and the Economy, Dr Ralph Henry has been appointed new chairman for the Heritage and Stabilization Fund (HSF). Henry is replacing Avyann Ferguson who was appointed from 2010-2013. Henry was a lecturer at the University of the West Indies. Henry was the first chairman of the Telecommunications […]

Sovereign Wealth Funds Make Up More Than 25% of U.S. Retirement Assets

The Investment Company Institute published retirement data stating that December 31, 2013 retirement U.S. assets amounted to US$ 23 trillion. These assets increased 5% from 3 months ago. Employer-based defined contribution assets in the U.S. totaled US$ 5.9 trillion, in which US$ 4.2 trillion were in 401(k) plans. As of March 2014, sovereign wealth funds […]

China’s Sovereign Fund to Acquire $40 Million Stake in iKang

The China Investment Corporation (CIC) is acquiring a 40% stake in iKang Healthcare Group Inc for US$ 40 million through Best Investment Corporation. Beijing-based iKang is a private healthcare provider that focuses on preventative care. The CIC is purchasing the shares at the initial public offering price. iKang is looking to raise around US$ 150 […]

UAE, France to Launch US$ 414 Million Fund

Abu Dhabi-based sovereign wealth fund Mubadala Development Company and French state investor CDC International inked an agreement in Paris on Tuesday to start a €300 million (US$ 414 million) joint investment fund. Each institutional investor pledged an initial commitment of €150 million (US$ 207 million). The management team for the new and currently unnamed co-investment […]

The Most Active Sovereign Wealth Fund Investors of 2013

Sovereign Wealth Fund Direct Transactions by Year Source: Sovereign Wealth Fund Transaction Database – March 2014 2013 was a milestone year for sovereign wealth funds acquiring companies and assets. According to the Sovereign Wealth Fund Institute’s proprietary transaction database, 2012 transactions amounted to US$ 65.09 billion, a drop from 2011’s US$ 90.04 billion. 2013 has […]

Even 11 Billion-Orange County ERS May Dump PIMCO

Personnel changes at asset management firms are risky business, especially in the cases where asset owners were pitched high-profile names. This is not an uncommon reason why asset owners may dump asset managers; the firm pitches their ability on the strength of a single or handful of executives only to see those executives leave for […]

Temasek Seeks Acquiror for $1 Billion of Buyout Fund Interests

Singapore’s Temasek Holdings is in key discussions of selling nearly US$ 1 billion of positions in buyout funds to Paris-based Ardian Sarl, the former private equity unit of French insurer AXA SA. Ardian (the new name for AXA Private Equity) is looking to acquire the positions with debt and dump some holdings to investors. This […]

Singapore’s GIC Invests Around $63 Million in Intelligent Energy

Singapore’s GIC Private Limited invested around US$ 63 million in Loughborough-based Intelligent Energy Holdings plc, an international power technology company. The Singaporean sovereign wealth fund will own a new issue of 15,129,468 ordinary shares, representing 10% of the company. Intelligent Energy develops fuel cell power systems for a number of markets such as consumer electronics, […]

Temasek Makes Mega Overseas Bet in A.S. Watson

Singapore’s Temasek Holdings is spending 44 billion HKD (US$ 5.7 billion) for a 24.95% stake in A.S. Watson & Co., the retail arm of Hutchison Whampoa Ltd. The deal permits a higher valuation for A.S. Watson’s assets and augments Temasek’s exposure to consumer retail. A.S. Watson is the biggest international health and beauty retailer. According […]

Norwegian Government Allows GPFG to Continue Investing in Coal Pending Further Investigation

The Norwegian parliament struck down legislation that would exclude coal companies from the Government Pension Fund Global’s (GPFG) investment universe because of its impact on the environment. The sovereign wealth fund is already subject to ethical guidelines for investing, but recent pushes to ban fossil fuel investments have sparked heated debate. Critics call the legislation […]

New Zealand Superannuation Commits Up to $250 Million in KKR Energy Investments

The New Zealand Superannuation Fund (NZSF) is committing up to US$ 250 million toward North American oil and gas opportunities with private equity firm KKR. The mandate will target upstream oil and natural gas production, midstream infrastructure (pipelines), downstream facilities and service companies to the energy sector. KKR is a buyout firm managed by Henry […]

Former IMF Boss Strauss-Khan Aims to Grow Hedge Fund

Dominique Strauss-Kahn, the former IMF managing director, is targeting to raise US$ 2 billion for his macro hedge fund from a variety of investors including sovereign wealth funds. He is chairman of Leyne Strauss Kahn & Partners SA (LSK & Partners) and has launched the DSK Global Investment Fund. Strauss-Kahn picked up Mohamed Zeidan as […]

Breaking: Yellen to Continue Tapering

Yellen in her remarks and press briefing: “The dots moved down a little bit in December relative to September and then moved up ever so slightly. I really don’t think it’s appropriate to read very much into it.” “We have had a series of years now in which growth has proven disappointing.” “5 percent of […]

Och-Ziff Warns Investors of FCPA Risk

The U.S. Department of Justice (DOJ) and the SEC have allocated greater financial resources toward stricter enforcement of the Foreign Corrupt Practices Act (FCPA). The federal law has pierced into the world of money management, capital introduction and placement agents. The act outlaws bribery payments by U.S. companies anywhere in the world. Och-Ziff Capital Management […]

CalPERS Allocates Another 200 Million to Emerging Domestic PE Program

The California Public Employees’ Retirement System (CalPERS) announced yesterday it will allocate another US$ 200 million to its Emerging Domestic Private Equity Managers program. The US$ 280 billion public pension fund this year will choose a new fund-of-funds manager to receive the allotment, which will be disbursed over four years. The selected manager will target […]