Archive | June, 2014

CIC Hires AgBank Banking Executive

The China Investment Corporation (CIC) has hired Liu Guiping as an executive vice president according to the sovereign wealth fund’s website. Liu is a former banker at Agricultural Bank of China, who is credited with organizing the “Pretty Mom Credit Card” which is targeted to China’s young moms. The card offers discounts on baby products […]


Q&A with Roger McIntosh, Head of Investments at LUCRF Super

This interview will appear in the 2Q Y2014 (July 2014) Superannuation World issue of the Sovereign Wealth Quarterly. This is a Q&A with Roger McIntosh, Head of Investments at LUCRF 1. In the past five years, how has the Australian superannuation investor class evolved when it comes to institutional investing? There has been an increasing […]


Thomas H. Lee Partners Attracts Sovereign Wealth Funds

Boston-based Thomas H. Lee Partners LP (THL) is rekindling fundraising efforts for its new buyout fund. The private equity firm is attempting to raise between US$ 3 billion and US$ 4 billion for its latest fund – tapering expectations of its sixth fund, Thomas H. Lee Equity Partners VI, that raised US$ 8.1 billion in […]


UPDATE: London Stock Exchange to Review Russell Investments

The London Stock Exchange Group (LSEG) is expecting the US$ 2.7 billion deal to acquire Seattle-based Russell Investments to finalize by early next year.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Holdings Opens New York Office

Singapore Prime Minister Lee Hsien Loong is wrapping up his U.S. trip, stopping by to assist in opening Temasek’s new New York Office. The New York office will complement the sovereign wealth fund’s offices in Mexico City and São Paulo. Temasek joins it counterpart GIC Private Limited in having a New York presence. The office […]


Temasek Not Silent on Executive Compensation Policies at Standard Chartered

UK-based Standard Chartered PLC, a global bank with a heavy focus in emerging economies, has Singapore’s Temasek Holdings as its largest institutional shareholder. The Singapore sovereign wealth fund made the massive investment in the bank, betting on the long-term success of growth countries with rising middle class savers. [ Content protected for Sovereign Wealth Fund […]


Stronger Ties: Singapore PM in US for Strategic Economic Talks

On June 23, Singapore Prime Minister Lee Hsien Loong met with U.S. Commerce Secretary Penny Pritzker to talk about investment opportunities in America that Singapore can partake in. Both of Singapore’s sovereign wealth funds, Temasek Holdings and GIC Private Limited, are active direct institutional investors in North America.[ Content protected for Sovereign Wealth Fund Institute […]


Yngve Slyngstad

Largest Sovereign Wealth Fund Makes Strategic Changes

Norway’s Government Pension Fund Global (GPFG) released its 2014-2016 strategy report, highlighting significant changes in how it will invest sovereign wealth assets and manage risk. After studying other asset owners and institutional investors like the CPPIB, Singapore’s GIC Private Limited and the New Zealand Superannuation Fund, the fund is adopting some attributes of the opportunity […]


Tepid Raise for Carlyle’s Second Financial-Focused Buyout Fund

Sovereign wealth funds, pensions and other institutional investors, in some cases, reluctantly moved money into the Carlyle Group’s second fund targeting financial institutions such as insurance companies, banks, brokerages and asset managers. Carlyle Global Financial Services Partners II is at US$ 1 billion, but it took nearly three years to raise capital. The second fund […]


Qatari Diar Acquires Majority Interest in Barwa Commercial Avenue Co for $2.5 Billion

Doha-based Barwa Real Estate is selling its 95% interest in Barwa Commercial Avenue Co to Qatari Diar, the real estate sovereign wealth enterprise of the Qatar Investment Authority, for US$ 2.5 billion. In June 2013, Barwa announced it was selling a portfolio of assets worth US$ 7.1 billion to Qatari Diar over a series of […]


Ireland

Strategic Irish and Chinese Public Money Create Tech Society

In greater frequency, the government of China has been constructing inroads by developing strategic relationships with the British Isles through roadshows, forums and joint venture agreements. A US$ 100 million fund vehicle backed by public money from Ireland and China, Summit Bridge Capital, has launched a society to bring together Irish and Chinese tech companies. […]


Future Fund and DEXUS Create Industrial Development JV

DEXUS Property Group, an Australian real estate group, has teamed up with Australia’s Future Fund to create a new partnership (50:50) called the DEXUS Industrial Partnership. The partnership will be seeded with the purchase of Quarrywest at Greystanes, consisting of 25.64 hectares of industrial development in Western Sydney. The land is located on Reconciliation Road […]


Friday SWFI News Roundup, June 20, 2014

bcIMC Posts 14.7% Return The British Columbia Investment Management Corporation (bcIMC) posted a 14.7% return for its investments ending the fiscal year on March 31. Assets were boosted to US$ 105.3 billion. “Overweighting global equities and underweighting fixed income were the main drivers of the double-digit returns,” said Doug Pearce, CEO and chief investment officer, […]


Singapore Sovereign Wealth Centers on Spanish Bank Business

Due to modifications in the regulatory environment on sharper capital allocation, Banco Santander SA wants to exit or restructure low return-on-equity segments. The European team of New York-based Warburg Pincus LLC, a private equity firm, is in charge of a transaction to purchase 50% of Banco Santander’s custody business in Brazil, Mexico and Spain – […]


Trustees Appoint Former Chinese Sovereign Wealth Executive for IFRS Foundation

The London-based IFRS Foundation is responsible for the governance and oversight of the International Accounting Standards Board (IASB). Some trustees of the IFRS Foundation include Dick Sluimers, CEO of APG Group, and Wiseman Nkuhlu, the former economic adviser to former South African President Thabo Mbeki. The trustees have appointed Jin Liqun, who was chairman of […]


Malaysian KWAP Buys Chimes Shopping Centre

Founded in 2007, Kuala Lumpur-based Kumpulan Wang Persaraan (KWAP), a public pension plan sponsor in Malaysia, has acquired The Chimes Shopping Centre. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


National Audit Office Discovers Problems at Chinese Sovereign Wealth Fund

China’s National Audit Office concluded in an audit that the China Investment Corporation (CIC) mismanaged a portion of international investments from 2008 to 2013 that led to losses. One key finding was that CIC employees failed to conduct adequate due diligence before investing capital in 12 overseas projects in the past 6 years. The auditor […]


Are Sophisticated Sovereign Wealth Funds Becoming the Next Crop of Dealmakers?

Sovereign funds represent a large, thriving pool of sophisticated capital. With nearly US$ 7 trillion in institutional investor assets, sovereign wealth funds have flexed their muscles, acquiring luxury hotels to Indian movie production companies. Year over year, more sovereign wealth funds are doing direct deals and participating in co-investments with private equity funds, mega pensions […]


Nomura Asset Management Opens Up Shop in Dubai

Japan-based Nomura Asset Management, the asset management arm of Nomura Group, has opened its doors in the Dubai International Financial Centre (DIFC), making a commitment to multiply its client base in the Middle East by having boots on the ground. Nomura, Japan’s largest securities brokerage, has been in Dubai for more than 5 years; however, […]


Whineray Appointed Chief Investment Officer of New Zealand Superannuation Fund

The New Zealand Superannuation Fund (NZSF) has selected a chief investment officer. Matt Whineray has been appointed to the role by the Guardians of New Zealand Superannuation. Reporting under CEO Adrian Orr, Whineray will manage a team of 35 and will oversee the hiring of external investment managers. See New Zealand Superannuation Fund Key People […]