Archive | March, 2016

Friday SWFI News Roundup, April 1, 2016

Morningstar Acquires RightPond Research provider Morningstar, Inc. has acquired Westport-based RightPond, a provider of business intelligence data and analytics on defined contribution and defined benefit plans for financial services firms, from Rocaton Investment Advisors, LLC. According to the press release, “Morningstar will continue to offer RightPond as a standalone capability until it is integrated into […]


CPPIB Financially Supports LeasePlan Deal

The Canada Pension Plan Investment Board (CPPIB), through its unit CPPIB Credit Investments Inc., funded €480 million (US$ 707 million) in the Mandatory Exchangeable Facility of LeasePlan Corp NV, a car leasing company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ISIF Commits to Latest Atlantic Bridge Fund

The Ireland Strategic Investment Fund (ISIF) expanded portfolio exposure to the country’s technology sector. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


private equity

Khazanah Invests in Series D Round in Garena

Singapore-based Garena Interactive Holding Ltd., a mobile entertainment and e-commerce company, raised US$ 170 million in Series D capital. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 31, 2016

GIC and Brigade Group JV Acquire Kansai Nerolac Land Bengaluru-based property developer Brigade Group and Singapore’s GIC Private Limited, through their joint venture vehicle Perungudi Real Estates, are purchasing a 16-acre asset in Chennai’s Perungudi area from Kansai Nerolac Paints for Rs 537.86 crore. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


BlackRock NY

State Street and BlackRock: Reportedly Layoffs Pending

A great number of asset management firms are putting the brakes on certain areas of global expansion, while cutting spend in conferences and marketing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


state street

State Street Buys GE Asset Management

In a trend of more asset managers consolidating, State Street Corporation has agreed to buy GE Asset Management for up to US$ 485 million. The transaction is expected to close in the third quarter of 2016. General Electric (GE) is being represented in this transaction by Credit Suisse. [ Content protected for Sovereign Wealth Fund […]


doha sovereign wealth fund

Sheikh Hamad Backs Deutsche Bank’s Achleitner

Paul Achleitner, Deutsche Bank’s supervisory board chairman, is getting crucial support from one of the bank’s largest investors, the former Qatar Prime Minister Sheikh Hamad bin Jassim bin Jabr Al Thani. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Former CalPERS CIO to Head Up Alaska Permanent

Russell Read is moving up to Juneau, Alaska. The former chief investment officer of the California Public Employees’ Retirement System (CalPERS) is taking the CIO job at the Alaska Permanent Fund Corporation (APFC). He was CIO at CalPERS from 2006 to 2008. After CalPERS, Read was CIO and deputy chief executive at Kuwait-based Gulf Investment […]


First Quarter 2016 – Sovereign Wealth Quarterly Available for Download

SWFI released its first quarter 2016 publication of the Sovereign Wealth Quarterly. Print issues are being mailed out. Some key topics included in the quarterly are: direct investments, Indian investment platforms, real assets, legal updates and much more. Only SWFI Subscribers Can Download Issues of the Sovereign Wealth Quarterly Download | View Past Quarterlies Online […]


SWFI First Read, March 29, 2016

CDPQ Increases Ownership in SPIE Caisse de dépôt et placement du Québec (CDPQ) boosted its investment by €30 million in SPIE, a European company in multi-technical services in energy and communications, through the acquisition of 1,809,400 shares. At the same time, Clayax Acquisition Luxembourg 5 S.C.A will distribute to CDPQ its pro rata shares in […]


Samruk Kazyna Acquired Shares of KMG Kashagan B.V.

On March 9th, Samruk Kazyna got involved in a US$ 5.5 billion deal to acquire shares in KMG Kashagan B.V. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


mexico

The Relationship Between Mexico and the Exchange Stabilization Fund (ESF)

Through the Gold Reserve Act of 1934, the U.S. Exchange Stabilization Fund (ESF) was formed. The U.S. Department of Treasury has used the ESF mostly to conduct foreign exchange intervention; stabilization loans have been a key secondary activity of the account. Over the decades, the ESF primarily conducted foreign exchange intervention and international loans in […]


Hogan Lovells Expands Sovereign Wealth Expertise

Law firm Hogan Lovells hired Paul Downs as a partner in the firm’s New York office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


KIC to Back ADT Deal

Private equity giant Apollo Global Management moved to acquire The ADT Corporation, a U.S. electronic securities company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – March 29, 2016

Park Hill Group Executive Charged with Fraud [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


More Midsized Public Funds Migrate Bond Money In-House

Besides the larger asset owners such as CPPIB and other major sovereign funds, a number of middle tier-sized pensions are migrating more fixed income assets in-house, in a bid to save money on costs. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 26, 2016

Caisse des Dépôts Buys Stake in Aalto Power France’s Caisse des Dépôts purchased a 49% interest in Aalto Power SAS, an onshore wind company, from InfraVia Capital Partners. Aalto Power owns a nine wind farms in France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Over $40 Billion Direct: Sovereign Wealth Descends on China

Despite economic headwinds, such as a potential for massive job losses in China, foreign public funds continue to want to access thematic institutional investments in Asia’s largest market. Public institutional investors such as sovereign funds have directly invested over US$ 42.97 billion in China (including Hong Kong) from 2013 to the end of 2015, according […]


CalPERS Acquires Stake in California Solar Power Asset

The California Public Employees’ Retirement System (CalPERS) is acquiring up to a 25% ownership interest in Desert Sunlight Investment Holdings, LLC, which owns two solar photovoltaic power generation facilities located 60 miles east of Palm Springs, in eastern Riverside County, California. It was once one of the largest solar power plants in the world. CalPERS […]