Archive | October, 2015

Norway Wealth Fund Was Hammered by Asian Equities

Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), had a rough third quarter, posting a portfolio loss of -4.9%. Listed equities contributed a -8.6% return for the quarter, while real estate returned 3%. Overall, listed equities have provided a challenging environment for public institutional investors. Listed equities in Japan for NBIM returned […]

sovereign wealth fund pumpkin

Friday SWFI News Roundup, October 30, 2015

Oman’s SGRF Hires Freshfields to Take on Bulgarian Government Over Balkan Bank Oman’s State General Reserve Fund (SGRF) hired Freshfields Bruckhaus Deringer for legal representation to arbitrate the government of Bulgaria over its role in the fall of Balkan bank KTB. Representing the Bulgarian government is law firm Arnold & Porter. The arbitration claim has […]

New-York sovereign wealth fund

Qatar Investment Authority Makes Mark in NYC RE

Increasingly, sovereign funds are allocating mounds of capital into U.S. real estate development projects in core cities like New York City. For example, the Kuwait Investment Authority (KIA) is an investor in the Hudson Yards development. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

PGGM Buys Stake in Sea Lock Development in the Netherlands

PGGM acquired a stake in a sea lock under construction at IJmuiden, an entrance to the port of Amsterdam. PGGM made the investment with Noordersluis through its joint venture with construction company BAM. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

investment gurus

Latest Morgan Stanley RE Fund Attracts Sovereign Wealth

Is institutional real estate back for Morgan Stanley? Institutional investors are battling for properties in a hyper-competitive market, pushing other asset owners such as public pensions into riskier real estate. Many investors are feeling nostalgic like 2006. Big pools of capital are fervently chasing office properties. The American financial giant, through its real estate unit […]

SWFI First Read, October 29, 2015

Norway’s Sovereign Fund Posts Negative Return for Q3 Norway’s Government Pension Fund Global (GPFG) returned -4.9% for 3 months ending September 30, 2015. A big cause of the negative return was from equities. It was the sovereign wealth fund’s largest quarterly loss in 4 years. Equities returned -8.6%, while fixed income gained 0.9% and real […]

China Inc. Looks to Acquire Starwood Hotels

Hospitality giant Starwood Hotels & Resorts Worldwide Inc. has attracted three major Chinese buyers. For months, Stamford-based Starwood Hotels has run a strategic review on its business, eyeing and putting on feelers on potential mergers, sell-off or deals. They hired investment bank Lazard to assist on this. The hotel giant has been selling off assets […]

Mark Wiseman

CPPIB Opens Mumbai Office

The Canada Pension Plan Investment Board (CPPIB) opened a new office in Mumbai, India. CPPIB is keen on allocating more capital into India and hiring local talent. The office is located in the financial hub of the Bandra Kurla Complex. Since 2010, CPPIB has invested in India, committing more than US$ 2 billion into the […]

ReNew Power Attracts Big Sovereign Wealth Fund

Gurgaon-based ReNew Power Ventures Pvt. Ltd, an Indian renewable energy projects developer and power generator, has attracted some sovereign wealth capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Pavilion Energy Locks 10-Yr LNG Deal with Gazprom

Singapore-based Pavilion Energy Pte., a sovereign wealth enterprise of Temasek Holdings that focuses on liquefied natural gas (LNG), inked a 10-year sales & purchase agreement for LNG with a subsidiary of Russian energy giant Gazprom PJSC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Volkswagen Reports €3.48 Billion Loss for 3Q

Volkswagen AG has reported a €3.48 billion ($3.85 billion) operating loss for the third quarter. Some of the largest investors in Volkswagen include the Qatar Investment Authority (QIA). The operating loss of €3.48 billion compares directly to a €3.23 billion profit a year ago. Volkswagen is the biggest automobile manufacturer in Europe, impacting numerous countries […]

New York

CPPIB and BC Partners Back Altice’s Bid for Cablevision

Amsterdam-based Altice NV is getting financial firepower on its massive bid to buy New York-based Cablevision Systems Corporation, a cable operator. Founded in 1973 by Charles Dolan, Cablevision is one of the largest cable operators in the United States. The deal will make Altice the #4 cable operator in the United States. The French billionaire […]

Three Tragic Ends for Three Name-Brand Hedge Funds

Public institutional investors pressured with generating high-enough returns for their financial obligations and investment committees, have pulled out of some name-brand hedge funds. The mounting losses have prompted three hedge funds to call it quits, as smart money is being challenged by global markets. The three selected are one hedge fund-of-funds shutting down, one group […]

Andreas Dombret’s Opening Keynote at Institute Fund Summit 2015 Europe

Keynote Speech at Institute Fund Summit 2015 Europe Hotel Okura, Amsterdam, October 26, 2015 Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank Source: Deutsche Bundesbank Download Speech 1. Introduction Ladies and gentlemen Thank you for the invitation to speak at the Sovereign Wealth Fund Institute summit in Amsterdam. It is a […]

India deals

InterGlobe Aviation Raises Money from Sovereign Funds

Gurgaon-based InterGlobe Aviation Limited, which operates as IndiGo, has attracted a large number of institutional investors for its pre-issue share sale. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Oman SWF Leads Food JV with Japanese Financial Institutions

Oman’s State General Reserve Fund (SGRF) joins a group of Gulf entities in a strategic deal with Japanese financial institutions targeting food investments. Oman’s sovereign wealth fund, Gulf Investment Corporation and Oman National Investments Development Company formed a US$ 400 million joint venture called Gulf Japan Food Fund with Japan’s Mizuho Bank and Norinchukin Bank. […]

doha sovereign wealth fund

Qatar Investment Authority Meets with U.S. Treasury

The Qatar Investment Authority (QIA) reiterated its commitment in investing US$ 35 billion in the United States over the next five years. The Gulf sovereign wealth fund officially opened up its New York City office in September 2015. U.S. Secretary of State John Kerry and Secretary of the Treasury Jacob Lew held an annual forum […]

SWFI First Read, October 26, 2015

CPPIB and GIC Acquire Majority Stake in Brazilian Mall The Canada Pension Plan Investment Board (CPPIB) and Singapore’s GIC Private Limited acquired a 66% interest in a São Paulo shopping mall from Rio de Janeiro-based mall operator Aliansce and another party for around US$ 90 million. Specifically, CPPIB and GIC are acquiring a 50% stake […]

Volkswagen Prepping For Wave of Institutional Investor Lawsuits

Since the U.S. Environmental Protection Agency (EPA) announced Volkswagen AG had used a “defeat device,” as defined by the U.S. Clean Air Act, in a portion of its diesel automobiles, the stock has taken a significant hit. Shareholder losses have been estimated at €40 billion. The legal liability appears to go back to 2009, adding […]

Poste Italiane IPO Attracts Sovereign Wealth

The Italian government raised €3.4 billion (US$ 3.8 billion) in its initial public offering (IPO) for Poste Italiane SpA, a postal company that has business lines in finance and insurance. This is Italy’s largest IPO since 1990 and largest state sell-off since 2005. The symbolic move could suggest that Italian Prime Minister Matteo Renzi is […]