Archive | January, 2016

SWFI First Read, February 1, 2016

Kessler Topaz Meltzer & Check Filed Class Action Against Esperion Therapeutics Radnor-based law firm Kessler Topaz Meltzer & Check, LLP filed a shareholder class action lawsuit against Esperion Therapeutics, Inc., a listed pharmaceutical company that focuses on developing and commercializing oral low-density lipoprotein cholesterol lowering therapies for patients with hypercholesterolemia. The class action alleges the […]


BNY Mellon Manhattan

SURVEY: More Listed Companies Are Engaging with Sovereign Funds

According to BNY Mellon’s global investor relations survey, Global Trends in Investor Relations, listed companies are continuing to increase their outreach with sovereign wealth funds. 65% of the survey’s respondents have engaged with sovereign wealth funds over the past year, up from 57% in 2013. Sovereign wealth funds are perceived to be long-term, intergenerational institutional […]


How Exposed is Norway’s Sovereign Fund to Japanese Government Bonds?

DATA – Norway’s GPFG Allocation to Japanese Government Bonds The Bank of Japan jilted institutional investors as it moved key interest rates into negative territory in specific instances. Specifically, the negative interest rates, a -0.1% rate, would affect a portion of financial institution’s deposits parked at the Bank of Japan. This “tax” could force banks […]


Friday SWFI News Roundup, January 29, 2016

USS Sells 13 Private Equity Interests to Ardian Flush with sovereign wealth and pension money, Ardian acquired 13 private equity partnership interests representing £640 million in assets and unfunded commitments from USS Investment Management, a unit of Universities Superannuation Scheme (USS). The deal occurred on December 31, 2015. USS was advised by Evercore on the […]


Why Did Norway’s Sovereign Fund Put Petrobras on Watch?

Brazil’s state-controlled oil company Petroleo Brasileiro SA (Petrobras) is navigating a tough year, fighting off a sprawling corruption investigation, while battling low oil prices. The oil giant also bears an onerous debt load. The company’s CEO Aldemir Bendine is looking to reduce managers in non-operational units by 30%. The corruption scandal has taken a toll […]


SWFI – Movers and Shakers – January 28, 2016

Quattrone Hands Keys to George Boutros Frank P. Quattrone is stepping down as CEO of Qatalyst Group, a mergers & acquisitions firm he formed in March 2008. Quattrone was the investment banker who took Cisco Systems and Amazon.com public in the 1990s. Quattrone will become executive chairman of the firm, while promoting long-time ally George […]


Sovereign Funds Vs. Asset Managers: The Big Picture

A number of asset managers who focus on institutional investors such as commodity-based sovereign wealth funds have been ravaged with redemptions. The rapid descent of oil prices flummoxed wealth fund chiefs. In response to the oil glut, the money management spigot for investment managers running listed equity strategies has slowed. Furthermore, Middle Eastern sovereign funds […]


LEAGUE TABLES: Morgan Stanley and JPMorgan Tie for First for 2015

The Sovereign Wealth Fund Institute (SWFI), through its proprietary database, tracks transactions by sovereign wealth funds, pensions and other public funds. Combining all public investors, for calendar year 2015, transactions amounted to US$ 212.18 billion versus US$ 186.56 billion in 2014. On record, 2013 had the most direct transactions for public investors at US$ 220.69 […]


Birtanov Appointed Chairman of Kazakhstan’s NIC

Yeszhan Birtanov was elected Chairman of the Management Board of the National Investment Corporation (NIC), officially taking office on January 11, 2016. He replaces Berik Otemurat who had resigned as chairman. Birtanov has worked as Chairman of the Management Board of the Kazakhstan Stock Exchange JSC (KASE) since July 1, 2015. View Institutional Investor Profile […]


GROWTH: Euroclear Reports Record Turnover

Over the past few years, Euroclear has expanded rapidly by forging partnerships, especially outside of Europe. Euroclear made significant moves augmenting its post-trade processing operations for funds into Asia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Alaskan SWF Invests in Series B on Anti-Cancer Biotech

The Alaska Permanent Fund Corporation (APFC) participated in a US$ 61 million Series B round to invest in Cambridge, Massachusetts-based Codiak BioSciences Inc., a company focused on the advanced research and clinical development of exosomes, which are tiny membrane sacs, or vesicles, that are released by both healthy and cancerous cells, for therapeutic and diagnostic […]


PGGM’s Real Asset Efforts Kept Busy in Ireland and UK

Dutch pension fund PGGM joined a consortium to invest in a €230 million infrastructure project in Ireland. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Oman SWF Inks MoU with Iranian Automobile Manufacturer

The countries of Oman and Iran are expanding economic ties one step at a time, restoring a historical relationship. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CASH: Future Fund’s Highest Levels Since 2009

Australia’s Future Fund shifted more assets into cash, as fund executives see an increase in global investment risk and uncertainty. By the end of 2015, the wealth fund had over 20% of assets in cash. The wealth fund has pulled back from emerging market equities where assets made up 9.4% of the investment portfolio a […]


australia infrastructure

SWFI First Read, January 27, 2016

NZ Super Fund Returns 6.5% Over 2015 The New Zealand Superannuation Fund (NZSF) returned 6.5% over 2015. NZSF surpassed its passive Reference Portfolio benchmark, equivalent to a market return, by 2.8% or NZ$ 766 million during the 2015 calendar year. The sovereign wealth investor also more than doubled the return on New Zealand Treasury Bills, […]


New York

PSP Investments and Lightyear Capital to Buy AIG Advisor Group

New York-based Lightyear Capital LLC, a private equity firm focused on the financial sector, partnered with PSP Investments to buy AIG Advisor Group, Inc., a subsidiary of American International Group, Inc. (AIG). AIG is continuing to shed its non-core businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


CalPERS Agrees to Renew Participation in OCC Repo Facility

The California Public Employees’ Retirement System (CalPERS) has been earning fees by taking on counterparty risk. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Despite Oil Glut, See 3 Countries Contemplating Their Own Sovereign Fund

The Organization of the Petroleum Exporting Countries (OPEC) is seeking again for other producers to cut supply. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, January 26, 2016

Ssangyong Engineering & Construction Lands Big Singapore Project Ssangyong Engineering & Construction won a major mandate from Singapore’s Land Transport Authority on a subway construction project worth US$ 252 million in Singapore in partnership with Hyundai Engineering & Construction. Ssangyong Engineering & Construction will hold a 75% stake, while Hyundai Engineering & Construction will hold […]


AustralianSuper Expands European Property Strategy

AustralianSuper is keen on expanding its international real estate profile. AustralianSuper boosted its ownership in the King’s Cross Central Partnership (KCCLP), a central London development, for £371 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]