Archive | March, 2015

SSgA Appoints CEO Successor, Ex-Fidelity Investments

The revolving door continues to spin in the world of asset management chiefs. State Street Global Advisors (SSgA) appointed Ronald O’Hanley III as president and CEO – effective April 1, 2015. O’Hanley replaces incumbent CEO Scott Powers who is retiring from SSgA later in 2015. Powers joined SSgA in 2008. Powers is also the former […]


CPPIB and Hermes Buy Stake in Associated British Ports

Large institutional investors such as sovereign funds and pensions are attracted to long-term predictable inflation-linked cash flows, with resilient cash yield. The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure, a unit of Hermes Investment Management, beat out sovereign wealth funds in their joint bid to invest approximately £1.6 billion to acquire a stake […]


S&P Dow Jones Indices Launch Smart Beta ESG Index

Environmental, social and governance (ESG) and factor-based investing are two themes gaining traction among institutional investors. Pension investors like APG incorporate ESG into its investment criteria and process. On March 30th, S&P Dow Jones Indices launched a smart beta ESG index. The DJSI Ethical Europe Low Volatility Index combines two investment themes into a singular […]


CIC Signs MoU with Hebei Iron and Steel

Hebei Iron and Steel Group Company Limited, created in the June 2008 merger of Tangsteel and Hansteel, signed a Memorandum of Understanding (MoU) with the China Investment Corporation (CIC) on March 24th. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OTPP Chief Investment Officer to Retire in June

Major shuffling among the ranks of Canadian pension giants has occurred in the past 12 months as Neil Petroff, executive vice president and chief investment officer of Ontario Teachers’ Pension Plan (OTPP), plans to retire on June 1, 2015. Petroff has been OTPP since 1993, spending more than two decades at the pension plan. Ron […]


LA Dodgers Partial Owner Could be a Sovereign Wealth Fund

During the World Economic Forum (WEF) in Davos, a reporter interviewed Korea Investment Corporation’s (KIC) chief Hank Ahn about strategic investing and the words Los Angeles Dodgers, an American baseball team, were uttered. In January, Hank Ahn visited the LA Dodgers stadium, meeting some owners. Media outlet Yonhap is reporting that KIC is considering acquiring […]


Gulf Sovereign Wealth Fund Gets LATAM Infrastructure Exposure

Gas Natural Fenosa, a Spanish distributor of gas and electricity, through its newly-formed subsidiary Global Power Generation (GPG), is working with a Gulf sovereign wealth fund to boost its international presence overseas in markets such as Latin America. Gulf sovereign wealth funds have dedicated extensive resources toward the asset class of infrastructure. [ Content protected […]


Opportunity Cost Model

Wealth Fund Goes With Smart Beta, Industry Expands

Alternative indexing strategies are gaining in popularity among institutional investors such as pensions and sovereign funds. Whether the term is called “smart beta”, “alternative beta” or even “strategic beta”, asset owners such as sovereign wealth funds like the Alaska Permanent Fund have been exploring low-cost factor investing. Resource Guide on Smart Beta TOBAM and WisdomTree […]


UPDATED: Qatar Sovereign Wealth Fund Eyes World Duty Free

March 29, 2015 – UPDATED: Basel-based Dufry AG is moving forward on acquiring World Duty Free SpA by raising €2.1 billion by issuing new stock and getting up to €1.5 billion of long-term debt. Backing Dufry’s acquisition are sovereign wealth funds: Singapore’s GIC Private Limited, Temasek Holdings and Qatar Investment Authority (QIA). Each of the […]


INVESTORS: 5 Key Takeaways from the 2015 WSJ ECO:nomics Event

  It is early evening Wednesday, March 25th, and I witnessed a flow of luxury cars drive through the gates of the Bacara Resort in Santa Barbara – the site of the 2015 ECO:nomics conference hosted by The Wall Street Journal. The conference is a must-attend, social gathering for green innovators, executives, policymakers, investors and […]


Tank & Rast Draws Pensions and Sovereign Funds

Autobahn Tank & Rast GmbH, a German motorway service station group, is attracting bidders such as large pensions, insurance companies and sovereign wealth funds. Some interested institutional investors include Abu Dhabi Investment Authority (ADIA), Singapore’s GIC and Borealis, the infrastructure arm of OMERS. Bonn-based Tank & Rast operates around 390 service stations and 350 gas […]


Kuwait Investment Authority Buys Remaining Share of Sudan Hotel Investment

Sudan, once known as the bread basket of the Arab world, is keen on promoting its fledgling tourism industry, despite current sanctions by the United States. On March 26, 2015, the Kuwait Investment Authority (KIA) signed a deal to acquire full ownership in a Sudan real estate company. [ Content protected for Sovereign Wealth Fund […]


GIC Goodman Joint Venture Acquire Wynyard Office Building

Wynyard Precinct Holdings, the joint venture unit created by Singapore’s GIC Private Limited and Goodman Property Trust, bought an office tower from Flecther Building Ltd., a subsidiary of Fletcher Construction, for NZ$ 86.2 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, March 27, 2015

TRS Delivers 8.51% for 2014 Return The Teacher Retirement System of Texas posted an 8.51% return for 2014, beating its policy index by 0.04%. The highest performing asset class for the pension system was stable value which posted 21.4%. Real return asset class posted 10.2%, followed by risk parity at 8.1% in return. Directional hedge […]


KIC Exploring Idea of Overseas Asian Office

The Korea Investment Corporation (KIC) is carefully exploring the possibility of opening up more overseas offices – following the footsteps of many large sovereign funds and Canadian pensions. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Sovereign Wealth Fund Invests in Google DC Property

Norges Bank Investment Management (NBIM), the manager of Norway’s massive sovereign wealth fund, invested with TIAA-CREF in a Washington D.C. office property. The deal values the property at US$ 307 million. NBIM bought a 49.9% stake in the building which touts Google as a key tenant for US$ 60.8 million. The property asset is encumbered […]


Build, Buy or Outsource: Tax Reclaims and Class Action Recovery

This article is sponsored by Goal Group. Written by Bill Salva and Noah Wortman The arguments in favor of outsourcing or buying a commercial enterprise solution from a qualified Tax Reclaim and Securities Class Action Recovery provider are compelling. One common guideline applied by many for this decision is to buy or outsource when you […]


Ireland

Malin Attracts Sovereign Wealth Funds, Backs Bill Gates Venture

Dun Laoghaire-based Malin Corporation, an Ireland life sciences investor company, has raised €330 million from key institutional and high net worth investors. Malin is targeted to be one of Europe’s largest biotech initial public offerings. Malin plans to provide long-term capital to life science and medical device companies backed by industry experts. The investment stakes […]


Russian NWF to Indirectly Fund RZD Locomotive Purchases

Russia’s National Welfare Fund (NWF) is planning to indirectly invest 60.22 billion roubles (US$ 1.3 billion) through the capitalization of VTB Bank, in which the bank will buy infrastructure bonds of Russian national rail carrier RZD. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Vontobel Buys Majority Stake in TwentyFour Asset Management

Swiss private bank Vontobel agreed to acquire a majority 60% stake in London-based TwentyFour Asset Management. Partners and key employees of TwentyFour Asset Management will retain 40% control. Zurich-based Vontobel could purchase the other 40% over a period of time. Vontobel, through its unit Vontobel Asset Management, is keen on expanding its European presence. The […]