Archive | May, 2014
sovereign wealth

Top JP Morgan Exec Talks Sovereign Wealth Funds

In New York, at the UBS Global Financial Services Conference on May 21st, Mary Erdoes, CEO of Asset Management for JP Morgan Chase & Co., highlighted emerging market equity as a popular focus for sovereign wealth fund asset allocation. Erdoes also drew a comparison between trends in sovereign wealth allocation and demand for JP Morgan’s […]


Elias Masilela Resigns as CEO of SA’s Public Investment Corp

Elias Masilela, the CEO of the Public Investment Corporation (PIC), is resigning effective June 30, 2014. South Africa’s Public Investment Corporation has US$ 153 billion in assets and manages pensions for South African state workers – the Government Employees’ Pension Fund (GEPF). Under Masilela’s watch, pension assets grew by 60%. In addition, Masilela pushed forward […]


Abu Dhabi Money Funds Mall of Switzerland Development

Gulf sovereign wealth funds are investing across Europe in large real estate developments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


oil

Libya Woes: Och-Ziff Capital Management Faces Class Action Suit

Och-Ziff Capital Management Group LLC is facing a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


AustralianSuper Drawing Bids for Parramatta NSW Police HQ

The $70 billion AustralianSuper is seeking to cash in its property chips by selling its 1 Charles Street in Parramatta, Sydney’s western central business district. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Opportunity Cost Model

EXPLORED: The Opportunity Cost Model Distilled for Sovereign Funds and Pensions

David Denison, Professor Michael Brandt and Professor Andrew Ang were tasked to review the active management of Norway’s sovereign wealth fund. In the review, they detailed the “Opportunity Cost Model” as a viable option for long-term institutional investors such as sovereign wealth funds and public pensions. David Denison is the former president and CEO of […]


Ireland

AustralianSuper Gets Small Exposure to Irish Biotech

Dublin-based Heart Metabolics Limited is a biotechnology company focused on the advancement of drugs for cardio-metabolic diseases. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


sovereign wealth deal

Singapore Sovereign Wealth Pushes Healthcare Allocation with Investment in Philippine Hospital Group

Singapore’s GIC Private Limited announced May 16th it had entered into a definitive partnership agreement with Metro Pacific Investments Corporation (MPIC) to invest PHP 3.7 billion (US$ 84 million) for a 14.4% stake in MPIC’s wholly owned hospital holding company, Neptune Stroika Holdings Inc. As of March 31, 2013, GIC had 5% of its portfolio […]


PE Firm Energy and Minerals Seeks to Raise Hard Cap For Fund III

Houston-based The Energy and Minerals Group, LP is raising more than US$ 3 billion for its third fund, Energy & Minerals Group Fund III, L.P. Founded in 2006, the natural resource focused private equity firm has a US$ 2.5 billion fund target and a US$ 4 billion hard cap. The fund will target investments in […]


Russian Renewal: RDIF Makes Strides with International Institutional Investors

The second to last week of May was momentous for countries in Eastern Europe and Central Asia. The St. Petersburg International Economic Forum was hosted on May 22-24 in Russia. During the conference, the Russian Direct Investment Fund (RDIF) highlighted some significant recent deals and joint ventures. In a continuous strategy to expand foreign investment […]


Libyan Sovereign Wealth Fund Hires Deloitte for Infrastructure Help

The Libyan Investment Authority (LIA) through one of its funds, the Libyan Local Investment & Development Fund (LLIDF), has appointed Deloitte to advise on national infrastructure projects through Libya’s Public Private Partnerships (PPP) program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CalSTRS Seeds Emerging Activist Manager, Then Gives Them US$ 200 Million

The California State Teachers’ Retirement System (CalSTRS) is seeding an emerging activist manager by taking a 30% stake in the company. In addition, CalSTRS will give Legion Partners Asset Management US$ 200 million to manage. This is the first time CalSTRS has purchased private equity interest in a money manager firm. Legion Partners was co-founded […]


Australia Future Fund Hires ESG Expert Joel Posters

Australia’s Future Fund has hired Joel Posters to be Head of Environmental, Social and Governance (ESG) Risk Management. Posters is expected to start in August 2014. He was global head of sustainability at De Lage Landen, the asset financing arm of Rabobank Group. During his tenure at De Lage Landen, Posters chaired the Sustainable Venture […]


CEI Sells Mtkvari HPP LLC to Georgian Co-Investment Fund

In Georgia, approximately 78% of electricity demand has been met by domestic hydropower plants. Georgia-based JSC Caucasus Energy & Infrastructure (CEI) is in the business of production, transmission and distribution of gas and electricity in Georgia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


REVEALED: ADIA Had Invested in Germany Real Estate Giant Deutsche Annington

Sovereign wealth investor Abu Dhabi Investment Authority (ADIA) has disclosed a 13.4% stake in Deutsche Annington Immobilien SE. Deutsche Annington possesses over 180,000 residential units across Germany, making it one of the biggest publicly-traded owner of apartments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Simsek Speaks: Making the Case for Institutional Investment in Turkey

On May 20th, the Turkish Prime Ministry’s Investment Support and Promotion Agency (ISPAT) hosted the first annual Turkey’s Investment Summit in partnership and coordination with the Sovereign Wealth Fund Institute. Foreign institutional investors, asset managers, public officials and business leaders from more than 30 countries converged on the historic Ciragan Palace Kempinski in Istanbul to […]


illiquidity premium

Apollo Wins By Getting US$ 750 Million From Alaskan Sovereign Fund

The Alaska Permanent Fund Corporation (APFC) gave Apollo Global Management a US$ 750 million mandate targeting funds and assets across the credit space. The APFC Board of Trustees met in Ketchikan, Alaska to approve several private asset investments. Increasingly, pensions and sovereign funds have allocations that are behaving like bank institutions, lending money and generating […]


Memorial Day Weekend SWFI News Roundup, May 25, 2014

Vornado Hopes For Qatar Cash The Qatar Investment Authority (QIA) is in discussions with Vornado Realty Trust in helps of financing a 950 foot residential skyscraper for 220 Central Park South in Manhattan. Vornado has already coughed up US$ 510 million and wants the QIA to provide additional funding. The condominiums are targeting high-net worth […]


India deals

POSTING UP: Sovereign Wealth Fund Backs Snapdeal

Not to be confused with Snapchat, Snapdeal is one of India’s largest growing online e-commerce companies. Founded in 2010, in May, Snapdeal has raised US$ 100 million from institutional investors such as Temasek Holdings, BlackRock, Hong Kong-based Myriad, Premji Invest (family office of Wipro founder) and Tybourne Capital Management. [ Content protected for Sovereign Wealth […]


Propping Up: LIA Plans to Invest Billions in Local Bourse

The Libyan Investment Authority (LIA) wants to invest its billions in the local stock market. Specifically, the Libyan Local Investment and Development Fund (LLIDF), created by the LIA and Libyan’s central bank, will invest in stocks listed on the stock exchange to increase liquidity to help lure foreign investors. With some share prices of companies […]