Archive | June, 2016
private equity

PSP Investments Commits to Debt Financing for Apollo Buyout of Diamond Resorts

PSP Investments Credit USA LLC, a unit of PSP Investments, provided debt financing for affiliates of certain funds managed by affiliates of Apollo Global Management, LLC for the buyout of Las-Vegas based Diamond Resorts International, a vacations provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Participates in Private Placement in Eurofins Scientific

Luxembourg-based Eurofins Scientific, a bioanalytical testing company, announces that it has privately placed 606,061 newly-issued shares with Caisse de dépôt et placement du Québec (CDPQ), at a subscription price of €330 per share, raising €200 million (US$ 224 million) of additional cash.


Louisiana’s Revenue Stabilization Trust Proposed to Voters in November

The State of Louisiana might get a new sovereign fund. H.B. 696, a bill that has received bipartisan support, aims to create the Revenue Stabilization Trust Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


QIA and CDC Invest in African Property Company

Founded by African distributor CFAO, SGI Africa is a pan-African property company that develops and operates shopping centers primarily through its PlaYce brand. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Invests in Startup Leather Manufacturer

Brooklyn-based Modern Meadow, a startup in the world of leather, raised US$ 40 million in a Series B round. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Nationwide Promotes Chris Graham to CIO

Insurer Nationwide promoted Chris Graham to chief investment officer and head of investment strategies. This is a new role. He spent around 11 years as a portfolio manager at Nationwide in the area of alternative investments. Graham will report to Mike Spangler, President of Nationwide Funds. Before Graham joined Nationwide, he was a private wealth […]


Follow the Money – Episode 12

This is the third episode of Global Connections. Rachel and I talk about the merger announcement of IPIC and Mubadala. We chat about how asset owners will embrace and deal with Brexit. We kick around the issue of direct investing by sovereign wealth funds and large pensions. Rachel and I dissect McKinsey’s recent survey on […]


Abu Dhabi Crown Prince Orders Mubadala and IPIC to Merge

Mega financial and business entities in the Gulf appear to be in consolidation and efficiency mode. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces issued a directive to merge Mubadala Development Company and International Petroleum Investment Company (IPIC). Mubadala Profile | IPIC Profile [ Content protected […]


SWFI First Read, June 29, 2016

OPPORTUNISTIC: GIC Looks at Manufactured Homes Singapore’s GIC Private Limited is in negotiations to acquire Denver-based Yes Communities, an owner of manufactured-housing communities. The seller is Stockbridge Capital Group and the deal may value Yes Communities at more than US$ 2 billion. Yes Communities oversees and manages 178 communities in the United States. NTAM Hires […]


Could Sovereign Funds Back Airbnb’s Latest Round?

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, wealth funds have invested more than US$ 4 billion directly into technology startups globally without the use of venture capital funds (as of June 28, 2016). San Francisco-based Airbnb, the online home-rental company, could become the second most valuable privately-held tech startup behind Uber Technologies, […]


Silk Road Fund Building Allies in Eastern Europe

China’s Silk Road Fund, Wuhan-based China Gezhouba Group Co., Ltd. and China Environmental Energy Holdings Co., Ltd. signed a Memorandum of Understanding (MoU) with the Government of Serbia on joint investment and development projects in the renewable sector in Belgrade. The signing occurred on June 18, 2016. The MoU details that China Gezhouba Group and […]


SWFI First Read, June 28, 2016

Pavilion Financial Corporation to Acquire Altius Associates Pavilion Financial Corporation is acquiring Altius Holdings, the parent of Altius Associates Ltd. and Altius Associates (Singapore) Pte Ltd, a global private markets advisory and separate account management firm. Pavilion will combine the operations of Altius Associates with LP Capital Advisors, LLC, the alternative asset advisory subsidiary of […]


Sovereign Wealth Funds: Investing Directly and Creating Value

This article is sponsored by The Wharton School. Today, when sovereign wealth funds (SWFs) put assets into alternative investments, they are more likely to be direct, rather than passive, investors. One of Canada’s largest pension funds recently bought a significant minority stake in Allflex Group, the global leader in animal monitoring technology, joining Allflex’s leading […]


Irish FinMin Noonan Reveals Plan for Reserve Fund

Irish Finance Minister Michael Noonan announced the government plans to launch a reserve fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 26, 2016

Sujoy Bose Named CEO of NIIF Sujoy Bose was named chief executive officer of India’s National Investment and Infrastructure Fund (NIIF). He is the Director and Global Co-Head of Infrastructure and Natural Resources at International Finance Corporation (IFC), the private sector lending arm of the World Bank. Starwood Capital Seeks Buyers for U.S. Mall Portfolio […]


How the Brexit Outcome Impacts Institutional Investors

The United Kingdom’s choice to exit the European Union, combined with U.K. Prime Minister David Cameron resigning, and a plummeting pound sterling down at a 31-year low, sets the stage for potential opportunity for wealth funds and pension investors. JPMorgan Chase CEO Jamie Dimon sent a memo telling that foreign exchange volumes were at a […]


BREXIT Happens

   Breaking news. The United Kingdom will leave the European Union. The historic voter result sent the British pound falling to a 31-year low. The final tally is – Leave: 17,410,742 versus Remain: 16,141,241 Bank of England governor Mark Carney says the central bank is ready to provide £250 billion in extra funds. “The Bank […]


Toshiba Sued Indirectly by Japan’s GPIF

Japan’s Government Pension Investment Fund (GPIF) has sued Toshiba Corporation for ¥964 million (US$ 9.2 million), seeking damages regarding an accounting scandal that impacted Toshiba’s share price. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA Invests in Macau Mall Development

The Abu Dhabi Investment Authority (ADIA) embarked on a 50:50 joint venture with Shun Tak Holdings Limited, a Hong Kong conglomerate, to invest in a shopping mall in Taipa, Macau. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 23, 2016

AIMCo Invests in Scotia Plaza Real estate investment trust Dream Office REIT and H&R REIT have agreed to sell a 50% ownership stake in the 68-storey tower Scotia Plaza to Alberta Investment Management Corporation (AIMCo) and KingSett Capital, a Canadian real estate private equity firm. KingSett is making the investment through its KingSett Canadian Real […]