Archive | November, 2015

Canadian Pension Giant Invests in Central London Property

A large Canadian pension investor teamed up with the manager of BT’s pension scheme to acquire a central London office asset. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 30, 2015

Mega Investors Plead with Indian Government to Expedite Exchange Listings A group of 17 foreign investors penned letters to the Indian government to expedite the process for listing the Bombay Stock Exchange and the National Stock Exchange. These letters were sent to Indian Finance Minister Arun Jaitley, the Indian Prime Minister’s Office, capital markets regulator […]


ARRESTED: André Esteves Steps Down as Chairman and CEO of BTG Pactual

BTG Pactual Founder and Chairman André Esteves resigned on November 29, 2015. He is no longer CEO or chairman of the company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BTG Pactual to Sell Brazilian Hospital Chain Stake to GIC

Singapore’s GIC Private Limited is boosting its stake in Rede D’Or São Luiz SA, Brazil’s biggest hospital chain. Asian wealth funds like GIC and Malaysia’s Khazanah Nasional have been keen on the healthcare sector in emerging markets like Brazil, Turkey and India. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


Friday SWFI News Roundup, November 27, 2015

Japan Post to Form Private Equity Unit, Shimizu to Lead The partially privatized Japan Post Bank plans on forming a new investment unit dedicated to private equity on December 1, 2015. Japan Post Bank manages almost ¥204 trillion (US$ 1.7 trillion), mostly in Japanese government bonds. Tokihiko Shimizu was recently hired by Japan Post Bank […]


Central Bank Roundup, November 27, 2015

Covered Bonds at Risk, as Sweden’s Central Bank Plans to Tighten Collateral Rules Sveriges Riksbank is facing a level of disapproval from the Swedish Bankers’ Association as the central bank plans to constrict collateral rules on covered bonds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


AIMCo and VRS Secure Recovery in MF Global

Alberta Investment Management Corporation (AIMCo), which manages many funds including Alberta’s Heritage Fund, together with the Virginia Retirement System (VRS) has successfully recovered US$ 204.4 million on behalf of investors in the now-defunct broker-dealer MF Global. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


UAE State Entities Participate in Gradual Selloff

The prolonged low crude oil prices have forced some UAE state-owned entities to rethink shedding non-core assets. Abu Dhabi National Energy Company, also known as TAQA, is selling its ownership interest in Minnesota-based Lakefield wind power plant to Qatar-based Nebras Power. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


PBOC Permits Foreign Institutions to Participate in Domestic Interbank FX Market

The People’s Bank of China (PBOC) announced that a number of foreign central banks, sovereign funds and international financial institutions have been registered to participate in China’s interbank foreign exchange market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


About Face for UBS Asset Management

Increasingly, the concept of traditional asset classes and products are converging, as large institutional investors utilize other means such as risk factors to classify exposures. The Swiss banking giant has rejigged its asset management division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BNY Mellon Wins Master Custodial Mandate from National Bank of Cambodia

Cambodia had gross domestic product (GDP) growth at an estimated 7% for 2014. Cambodia’s fiscal deficit narrowed to 1.3% of GDP in 2014. At the end of 2014, the central bank had around US$ 4.6 billion worth of gross foreign reserves. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


SWFI First Read, November 25, 2015

CalPERS Calms Financial Media Down, Releases Private Equity Data Results The California Public Employees’ Retirement System (CalPERS) released private equity performance fee data to the public. Over the last 25 years, CalPERS paid about US$ 3.4 billion in performance fees to private equity managers. However, since the private equity program’s inception in 1990, CalPERS had […]


superannuation

DEAL: Investor Group Acquires 99-Year Lease of TransGrid

Regulated revenues with predictable returns in developed markets are attractive for large institutional investors such as sovereign funds and pensions. The long anticipated deal of the acquisition of the 99-year lease of TransGrid, owner and operator of the electricity transmission network of the State of New South Wales in Australia has come to a close. […]


Large Sovereign Fund Buys Midtown Hotel from Blackstone

A large sovereign wealth fund has acquired a 54-story luxury hotel property in Midtown from The Blackstone Group for US$ 382 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


FRR Gets Green Light on €2 Billion for French Illiquid Assets

Fonds de Réserve pour les Retraites (FRR) gained permission to invest beyond its border date of 2024. The public fund is investing €2 billion in French illiquid assets which include property and infrastructure. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 24, 2015

Leonard Green Makes Profit on Petco Sale Following an earlier reported story on this. The deal is signed. San Diego-based Petco Animal Supplies, Inc., a specialty retailer of premium pet food, supplies and services, announced that funds affiliated with CVC Capital Partners and Canada Pension Plan Investment Board have entered into a definitive agreement to […]


Chasing Alpha

From CIO to CIO – the message is the same. There will be more volatility and extended periods of lackluster returns. Dropping hedge funds months back, the California Public Employees’ Retirement System (CalPERS) will eventually (don’t know how long) move its discount rate from 7.5% to 6.5%. Smart beta, otherwise called factor-based investing, can assist […]


Central Bank Roundup, November 24, 2015

Bank of Korea Board Member Issues Warning on Fed Rate Raise Joon-Ho Hahm, a member of Bank of Korea’s monetary policy board said last week at the San Francisco Federal Reserve’s Asia Economic Policy conference that, “The latent risk and potential impacts associated with the upcoming U.S. interest rate hike could be large in EMEs […]


China Construction Bank Forms JV Pension Unit

With a rapidly aging demographic and more wealth per capita, China is in need for pension services. China’s domestic banking industry is making a move into the potential lucrative industry of pension asset management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, November 23, 2015

Agaciro Development Fund to Shift Allocation Toward Local Economy Agaciro Development Fund, a Rwanda sovereign fund, plans to diversify its investment portfolio into different sectors of the economy – following examples from Angola and Nigeria. Currently, the fund is invested in Treasury bonds and bank deposits. These conservative investments have been yielding the fund an […]