Archive | November, 2014

Multi-Asset Demand Drives Institutional Business

To save the global economy, central bankers have played the free money melody, entrancing asset managers and asset owners such as sovereign wealth funds and public pensions. With probable shifts in key interest rates, institutional investors are re-examining new strategies and solutions. One of these solutions is multi-asset investing. For example, Latin American pension funds […]


Superannuation Watch: Cbus Looks to Hire More Internally

Cbus, an industry super fund for the construction, building and allied industries, is boosting the size of its internal investment staff. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Mexican Afores Opening Up to International Equities

The Mexican afore market was once a small institutional investor market, neglected by fund managers and made up of funds focused exclusively on Mexican government debt. As a decade passes and Mexican pesos flood these retirement funds, the need for portfolio diversification has amplified, prompting regulators to allow overseas equities. In 2011, CONSAR also known […]


Kuwait Sovereign Wealth Fund and Macquarie Set to Acquire Spanish Utility Assets

Germany’s largest power company E.ON SE is set to sell its Spanish assets to Macquarie Group and Wren House Infrastructure Management, a sovereign wealth enterprise of the Kuwait Investment Authority (KIA). E.ON’s Spanish assets attracted the likes of investors such as CVC Capital Partners, Morgan Stanley Infrastructure, Borealis, First State Investments and Endesa. [ Content […]


Friday SWFI News Roundup, November 28, 2014

Khazanah Eyes Spanish Infrastructure Malaysian sovereign wealth fund Khazanah Nasional is in talks to acquire a company, 50% owned by Spanish construction group Fomento de Construcciones y Contratas (FCC) and 50% owned by Bankia, a nationalized Spanish savings bank. The joint venture company is Madrid-based Globalvia Infraestructuras S.A. Nice Hedge Fund: Tepper Gives Money Back […]


emerging markets sovereign wealth funds

Probable End for Private Hungarian Pensions

Many Central European countries are facing a dire demographic crisis due to, shrinking working populations, low birth rates and swelling cohorts of older generations. In addition, several of the welfare states in the region, struggle with sustainable long-term economic growth and attracting stable levels of foreign direct investment. A potential source of capital for many […]


SWFI – Movers and Shakers – November 26, 2014

Pioneer Investments CEO to Leave Early 2015 Pioneer Investments CEO Sandro Pierri announced he would step down on January 31, 2015. He will be replaced by the firm’s deputy CEO Giordano Lombardo. Pioneer Investments is part of Italian bank UniCredit. Pierri has been with Pioneer Investments for 11 years, 2.5 years as CEO. AMP Capital […]


SPIVA Europe Scorecard Mid-Year 2014: How Have Active Managers Fared in Europe?

This article is sponsored by S&P Dow Jones Indices. The active-versus-passive debate has been raging for years and, with strong opinions on both sides, this issue is likely to remain contentious. As a scorekeeper in this debate, S&P Dow Jones Indices (S&P DJI) has been publishing the S&P Indices Versus Active (SPIVA®) Scorecard since 2002. […]


BlackRock NY

LAGGING: BlackRock Trails Other Managers in SPN Performance

Increasingly, asset owners such as sovereign wealth funds and mega public pensions are demanding global asset managers to do more than just manage money – the owners crave perspicacious advice, education for internal staff and ongoing high-quality research provided to staff members. New York-based BlackRock, the largest private asset manager on planet Earth, is part […]


CRUISING: TRS Gets Exposure to Car Dealerships in America

The Teacher Retirement System of Texas is allocating US$ 200 million for a 30.5% interest in a fund to get exposure to car dealerships across America. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Korean Pension Giant Invests in Frankfurt Core Development

Korea’s National Pension Service (NPS) has acquired 95% of the rights of a building in Frankfurt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Singapore Sovereign Wealth Fund Allocates to Indonesian Real Estate

Singapore’s GIC Private Limited and Rajawali Group, one of the biggest investment companies in Indonesia, have penned a Memorandum of Understanding (MoU) to jointly invest up to US$ 500 million in equity toward property developments in Indonesia. The focus will be on developments in central business districts throughout Indonesia. Types of real estate will include […]


Concierge Treatment: Private Equity Courts Mega Sovereign Funds and Pensions

Over the past few years, sovereign wealth funds have gained a bit of leverage over private equity managers. Sovereign funds like Kuwait Investment Authority (KIA), China Investment Corporation (CIC) and Abu Dhabi Investment Authority (ADIA), have taken ownership stakes in headline private equity firms such as The Blackstone Group and The Carlyle Group. As sapient […]


FAIL: Outsourced CIO Solution Loses with San Diego County

The board of the San Diego County Employees’ Retirement Association (SDCERA) voted 8-1 to search for an internal chief investment officer. SDCERA manages US$ 10.45 billion in assets. The pension fund is terminating its outsourced CIO Salient Partners. Houston-based Salient Partners, as a money manager, runs US$ 2 billion in risk parity and US$ 300 […]


KIC Chief: Merrill Lynch Investment Was a Painful Mistake

During the global financial crisis, beleaguered U.S. banks begged for private bailouts, trying to avoid U.S. government money. In 2008, the Korea Investment Corporation (KIC) invested US$ 2 billion in Merrill Lynch. Merrill Lynch issued US$ 6.6 billion in preferred stock to the Korea Investment Corporation, Kuwait Investment Authority and Mizuho Financial Group Inc. Eventually, […]


PRESS RELEASE – NAIC Becomes Title Sponsor to SWFI Institutional Investor Forum Miami

FOR IMMEDIATE RELEASE SEATTLE, Wash. – 24 November 2014 – Sovereign Wealth Fund Institute (SWFI) has announced the National Association of Investment Companies (NAIC) as the title sponsor for the SWFI NAIC Institutional Investor Forum 2015 in Miami Beach. The forum is being held on February 9, 2015 at the Fontainebleau Hotel. Sovereign wealth funds, […]


Governance and Santiago Principles Take Center Stage in Doha

Doha, Qatar’s capital city ripe with petrol wealth and ambitions of diversification whether it be tourism, housing, entertainment, insurance or retail, is home to a massive sovereign wealth fund called the Qatar Investment Authority (QIA). Under the previous and current Qatari emirs, gargantuan developments like The Pearl, Katara and infrastructure related to the upcoming 2022 […]


GOING NUCLEAR: China’s Biggest Nuclear Power Operator Seeking to IPO in Hong Kong

State-owned CGN Power Co. (China General Nuclear Power Group), China’s largest nuclear power plant operator, is seeking to raise US$ 3.16 billion in its Hong Kong initial public offering (IPO). CGN is under China’s State-owned Assets Supervision and Administration Commission (SASAC).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


oil

How Iran Will Cope with Falling Oil Prices

In mid-November, Iranian Oil Minister Bijan Namdar Zanganeh embarked on a fact-finding visit to its gulf neighbor, the United Arab Emirates. Iran and other oil-producing nations are meeting to address the global falling price of crude oil. Earlier in the month, Minister Zanganeh visited Kuwait and Qatar. [ Content protected for Sovereign Wealth Fund Institute […]


SWFI – Movers and Shakers – November 21, 2014

London Pensions Fund Authority Hires Chief Investment Officer The £4.9 billion London Pensions Fund Authority has hired Chris Rule as chief investment officer. Rule is a replacement for Alex Gracian, who exited the fund in May. Previously, Rule was head of alternatives at SEB Investment Management. The London Pensions Fund Authority has an internal investment […]