Archive | May, 2016

No Rush to End Brazil’s Sovereign Fund

Brazilian Finance Minister Henrique de Campos Meirelles told the public there is no rush to end the country’s sovereign wealth fund. The previous week Meirelles indicated the wealth fund’s termination was to be immediate. However, this week held a different tune, Meirelles emphasized there is no immediate rush to sell shares of the Banco do […]


blackstone

SWFI First Read, May 31, 2016

MISSED OPPORTUNITY: Norway SWF Was Pitched Facebook When It Was Private Norway’s sovereign wealth fund passed up investing in social networking giant Facebook before its initial public offering (IPO). Facebook had reached out to Norges Bank Investment Management (NBIM) before its IPO to see if they wanted to invest. Wealth fund rules governing it prevented […]


CPPIB Gets Mini Exposure to Romanian Real Estate

London-based Cairn Capital, a credit asset management, advisory and securities restructuring firm established in 2004, through its newly formed European Commercial Mortgage Fund, and Canada Pension Plan Investment Board (CPPIB), through its wholly owned subsidiary, CPPIB Credit Investments Inc., announced they have signed a commitment to purchase a €180 million bond secured on properties owned […]


Norway’s Sovereign Fund Flexes Muscle to Influence Corporate Change

Norway’s sovereign wealth fund is increasingly flexing its muscle to influence and alter the behavior of publicly-listed companies. The massive wealth fund, which derived its cash pot from crude oil, has an extensive corporate governance policy providing guidance on areas such as labor regulations, executive compensation, water management, environmental impact, munitions and bombs, and climate […]


SWFI First Read, May 30, 2016

CIT Looks to Sell Aviation Assets Lending giant CIT Group Inc. is seeking to sell some aircraft leasing assets. Some bidding entities include Industrial and Commercial Bank of China’s ICBC Leasing, Japan’s Orix Corporation and China’s HNA Group. Other possible parties to bid are China Investment Corporation (CIC), China Development Bank Leasing (CDB Leasing) and […]


private equity

PE Fund Backed by Oman SWF Raises $250 Million

A private equity fund backed by Oman’s sovereign wealth fund State General Reserve Fund (SGRF) and the State Bank of India (SBI) had a first close of US$ 250 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC Eyes Blackstone’s Philippines Power Plant Assets

The massive Singaporean sovereign fund is a member of an investment group, consisting of Malaysian power company Malakoff Corporation and Macquarie Infrastructure Corporation, seeking to acquire New York-based Sithe Global Power LLC’s ownership interests in two Philippine power plants. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


SWFI First Read, May 28, 2016

AmpMe Raises $8 Million Montreal-based AmpMe, a startup that offers a sound system alternative to portable speakers by syncing sound with multiple devices such as phones and tablets, raised US$ 8 million in funding. The investment round was led by Relay Venture. Other investors were OMERS Ventures, Westlake Village, California-based Townsgate Media, Slaight Music, Real […]


Øystein Olsen Gets Second Term as Norges Bank Governor

Øystein Olsen was appointed Governor of Norges Bank by the Council of State for a second six-year term on May 27, 2016. “I look forward to a new term as Central Bank Governor. Together with Norges Bank’s highly competent and engaged staff, I am delighted to undertake our important public tasks both within the central […]


Snapchat Grows Investor Base, SWFs Included

Snapchat Inc. has grown its investor base to include more venture funds and sovereign wealth funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, May 27, 2016

Qatari Government Hits Capital Markets for US$ 9 Billion Earlier this week, the Qatari government sold US$ 9 billion worth of Eurobonds, consisting of three maturities. Qatar is the world’s biggest exporter of liquefied natural gas (LNG). 3 Maturities 5-Year, US$ 3.5 billion, 120 basis points over U.S. Treasuries 10-Year, US$ 3.5 billion, 150 basis […]


Sovereign Funds Go Surgical on Healthcare Investing

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, sovereign investors directly invested US$ 6.61 billion into the healthcare sector in 2015 – a staggering amount compared to previous years. However, 2016 has been off to a tepid start. Preliminary data from the first two quarters of 2016 (data is still being tabulated until […]


Alaskan SWF May Commit Up to $3 Billion Toward Private Markets in FY 2017

The Alaska Permanent Fund Corporation (APFC) is keen on getting more deal flow in private markets. With a new chief investment officer named Russell Read (formerly from Kuwait GIC and CalPERS) and a mandate from the fund’s board of trustees, the fund plans to commit up to US$ 3 billion in private investments for the […]


SWFI – Movers and Shakers – May 26, 2016

Allianz Global Investors Promotes Zurkow to Head Alts Team Allianz Global Investors promoted Deborah Zurkow as head of alternatives. Zurkow will join the investment committee and report to Allianz Global Investors’ CEO Andreas Utermann. Previously, Zurkow was chief investment officer and head of infrastructure debt at the company. Claus Fintzen, a portfolio manager from the […]


SWFI First Read, May 26, 2016

Blackstone Ponders Logicor Sale The Blackstone Group is in talks on whether to sell its European logistics business called Logicor. The platform is valued around €11 billion, including debt. At the moment, asset owners are clamoring for high-quality logistical assets. Cybersecurity: OMERS Forms Tech Committee The Ontario Municipal Employees’ Retirement System (OMERS) has formed a […]


OMERS and PointNorth Partner to Target Troubled Firms

Toronto-based Oxford Park Group announced the formation of PointNorth Capital Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Alaskan SWF Commits Half a Billion to Infrastructure Fund

The Alaska Permanent Fund Corporation (APFC) committed US$ 500 million to a fund managed by Global Infrastructure Partners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Brazil Could Liquidate Sovereign Fund

Brazil is in the midst of painful recession, coupled with political troubles reaching the highest levels of government. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CIC Parks Big Money in Manhattan Financial District Office

Mega sovereign wealth funds continue to circle around core markets in the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


WE’RE IN: GE to Play Role in Saudi Arabian Diversification Plan

Fairfield, Connecticut-based General Electric Co. (GE), traversing in the footsteps of working with the United Arab Emirates government on a number of initiatives such as Masdar and commercial financing, plans to take part in US$ 3 billion worth of investments Saudi Arabia is doing to diversify the kingdom away from oil. [ Content protected for […]