Archive | May, 2015

Bidders Line Up for Antares Captial, GE Private Equity Lending

On May 28th, Canada Pension Plan Investment Board (CPPIB) and Ares Management submitted bids for General Electric’s U.S. private equity sponsor business. This is all part of GE’s massive restructuring plan. GE Capital remains the largest lender in the private equity U.S. middle-market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


Sovereign Wealth and Institutional Money Invest in Munich Offices

Gingko Tree Investment Ltd., a unit of China’s SAFE Investment Company and Pramerica Real Estate Investors, a unit of Prudential Financial Inc., have acquired more than 50% of funds that own the Siemens Campus in Munich-Neuperlach. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


David Kushner Resigns as CIO of LACERA

On May 29, Los Angeles County Employees Retirement Association (LACERA) Chief Investment Officer David Kushner resigned. In the interim, Vache Mahseredjian, principal investment officer, will take his place. Kushner joined LACERA in November 2011, coming from San Francisco City & County Employees’ Retirement System where he was deputy director.


SRI and Sustainability Allocation Expands in Europe

The themes of sustainable and socially-responsible investing (SRI) are gaining traction in Europe. Mandates are being filled. Even Norway’s massive sovereign wealth fund has incorporated select “sustainable” criterion into their investment processes for equity selections. In May, the €23 billion Etablissement de Retraite Additionnelle de la Fonction Publique (ERAFP) awarded a big €400 million allocation […]


Institutional Investors Back Colonial Bond Issue

Spanish property company Inmobiliaria Colonial issued 4-year and 8-year notes, respectively €750 million and €500 million issues. The bond raise will chop Colonial’s financing costs by approximately 50%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

Friday SWFI News Roundup, May 29, 2015

GIC Bids for in Exora Business Park Singapore’s GIC Private Limited is in the front of the pack in acquiring a 60% stake in Exora Business Park from Indian real estate firm Red Fort Capital. Other bidders are Singapore-based Ascendas and the Blackstone Group. The property is located in Bangalore. Institutional Money Agreements for Egypt […]


CASHING IN: Central Huijin Slightly Reduces Bank Exposure

Central Huijin Investment Ltd., a sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC), revealed on May 26th that it sold 280 million Shanghai-listed A shares in China Construction Bank (CCB), cutting its ownership from 5.05% to 2.14%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


Santander and Two Large Canadian Pensions Form Infrastructure Company

The Ontario Teachers’ Pension Plan (OTPP), Canada’s Public Sector Pension Investment Board (PSP Investments) and Banco Santander, S.A. formed London-based Cubico Sustainable Investments to invest and manage investments in renewable energy and water infrastructure assets globally. Backed by pension and bank capital, Cubico will be equally owned by its three founding partners: OTPP, PSP Investments […]


Norway’s Oil Fund Could Exclude More Companies Exposed to Coal

Norway’s Government Pension Fund Global (GPFG) has been informed by the country’s Finance Committee that legislation is moving forward with regard on mandating the fund sell positions in companies that have a specified exposure to coal-related activities. Essentially, the proposed legislation on company exclusions will apply to listed companies that generate more than one-third of […]


Potential Perils of Single Issues for Norway’s Sovereign Wealth Fund

Montalban Founder Dag Dyrdal, an advisor to financial institutions and corporations, wrote a column in Norwegian newspaper Dagens Naeringsliv titled, “The Oil Fund as a Political Activist” (translated) on May 27, 2015. From 2009 to 2012, Dyrdal was Chief Strategic Relations Officer and a member of the executive management team at Norges Bank Investment Management […]


Goldman Sachs Rejigs Overseas Investment Banking Heads

Goldman Sachs transferred Matthew Westerman to London from Asia, where he was previously the head of Asia excluding Japan investment banking division since 2013. Westerman is taking the role as chairman of investment banking for Europe, the Middle East and Africa (EMEA) for Goldman Sachs. Westerman will bring his Asian contacts and relationships to the […]


UPDATE – GIC Mulls $980 Million Investment in Brazilian Hospital Company

UPDATE – May 27, 2015 GIC Private Limited has acquired a stake in Rede D’Or São Luiz SA from BTG Pactual for 1.6 billion BRL (US$ 509.5 million). GIC has also agreed to purchase an equal number of shares from Jorge Moll and his family. This theoretically brings the deal to 3.2 billion BRL, giving […]


BlackRock and GIC Invest in 3SBio

Shenyang-based 3SBio Inc. and a unit of Citic Private Equity Funds Management Co. are offering 606.1 million shares at HK$ 8.30 to HK$ 9.10 per share. Newly issued shares will account for 80% of the offering. Both parties are seeking as much as US$ 712 million from a Hong Kong initial public offering (IPO). Investors […]


APFC Hires 2 Private Market Consultants

The Alaska Permanent Fund Corporation (APFC) is expanding allocation to private market assets and investments under its special opportunities bucket. The sovereign wealth fund hired San Diego-based TorreyCove Capital Partners and LP Capital Advisors as consultants for private market and special opportunity investments. These specialty consultants won the RFP that was issued in March by […]


ADIA Appoints John Pandtle as Head of U.S. Internal Equities

The Abu Dhabi Investment Authority (ADIA) announced the appointment of John Pandtle in the newly formed role as Head of the U.S. of Internal Equities. Increasingly, large sovereign wealth funds are migrating management of listed equity portfolios in developed markets in-house. Armed as a CFA charterholder, Pandtle will be based out of Abu Dhabi and […]


CPPIB Commits $100 Million to LATAM Corporate Bond Fund

The Canada Pension Plan Investment Board (CPPIB), through CPPIB Credit Investments Inc., has allocated US$ 100 million in a high-yield corporate debt fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


factor investing growth

Bank of Taiwan and Northern Trust Sign MoU on Custody Collaboration

Northern Trust sees the Asia-Pacific corridor as the fastest growing region for the company. Increasingly, East Asian pension funds are being permitted by regulatory bodies to invest overseas. The custodial giant is also trying to compete against rivals State Street and BNY Mellon in Taiwan. In July 2012, Taiwan’s National Pension Insurance Fund appointed BNY […]


Opportunity Cost Model

Your Student Loan Could Be Backed by Sovereign Funds

The search for yield in an environment of low interest rates are pushing institutional investors such as U.S. pensions and wealth funds indirectly into the U.S. student loan market. These public investors have allocated swaths of capital to alternative investment firms like Apollo Global Management LLC through credit-related investment mandates. For credit managers seeking yield, […]


Malaysian Airlines Restructuring Moves Forward

Malaysia’s Khazanah Nasional appointed Mohammad Faiz Azmi, chairman of PricewaterhouseCoopers Malaysia, to administer the restructuring of delisted Malaysian Airline System Bhd into a new company, Malaysia Airlines Bhd. Mohammad Faiz will oversee the move of Malaysian Airline System’ assets and liabilities to the new company. The new entity will start operations in September. The new […]


SWFI – Movers and Shakers – May 25, 2015

Khazanah Hires Former McKinsey Partner to Lead Indian Operations Malaysia’s Khazanah Nasional hired Chinta Bhagat as an executive director for investments in India. Bhagat will start July 15, 2015 and will be based in Mumbai. Bhagat will lead the wealth fund’s Indian operations and be part of Khazanah’s global healthcare sector leadership team. Previously, Bhagat […]