Archive | July, 2016

FINALLY: CPPIB Completes Long-Awaited Deal on DJ Basin Oil and Gas Assets

Crestone Peak Resources LLC has acquired the Denver Julesberg Basin oil and gas assets in Colorado from Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corporation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Japan’s GPIF Encounters First Loss in Five Years

Japan’s Government Pension Investment Fund (GPIF), the largest public pension investor in the world, posted a negative return for its latest fiscal year ended March 31, 2016. The fund lost 5.3 trillion JPY (US$ 51.3 billion) for the year, generating a -3.81% return. GPIF joins a cadre of mega public institutional investors that have earned […]


Gulf Sovereign Funds Had Redeemed Some Big Passive Equity Mandates

Gulf-based sovereign wealth funds and other monetary institutions, which are significantly impacted by the price of oil, continued redemptions in passive equity mandates. From March 2016 to June 2016, State Street Global Advisors witnessed US$ 35 billion of outflows by official institutions. The outflows reflected the current economic reality in the Gulf and need for […]


Temasek Invests Indirectly into Moncler

Singapore’s Temasek Holdings acquired a stake in Italian/French luxury company Moncler through an equity stake in a newly incorporated investment company from Ruffini Partecipazioni. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Mubadala to Buy 20% of Investcorp

Abu Dhabi-based Mubadala Development Company plans to take a 20% stake in Investcorp Bank BSC, a Bahrain-based alternative investment firm. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Boosting Liquidity, GIC Braces for More Volatility

Singapore’s GIC Private Limited posted a drip in real returns as its 20-year annualized real rate of return fell to 4% from 4.9% from the previous period of fiscal year 2014-2015. GIC investment officials see modest growth prospects, more uncertainty and a higher degree of volatility in the macro economy and markets, according to their […]


KIC and CDC International Capital Back French Pharmaceutical

CDC International Capital, the multi-asset class investment company of the Caisse des Dépôts Group, along with the Korea Investment Corporation (KIC) has embarked on its first co-investment deal since signing a partnership agreement on June 3, 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Pension-Backed Insurance Buyer Acquires $1 Billion of Assets from Hartford Financial

U.S. insurer Hartford Financial Services Group Inc. has agreed to sell its operations in the United Kingdom with US$ 1.023 billion in assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OMERS PE and Harvest Partners to Acquire Epiq Systems

OMERS Private Equity, the private equity arm of the Ontario Municipal Employees’ Retirement System, and funds managed by Harvest Partners, LP signed a definitive agreement to acquire Epiq Systems, Inc., a company that provides technology and services for the legal profession. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


Harvard

Harvard Management CEO Resigns

Stephen Blyth, the President and CEO of Harvard Management Company, has resigned for personal reasons, effective immediately. Blyth has been on medical leave since May 2016. Robert Ettl, Harvard Management Company’s chief operating officer, will continue to serve as interim CEO. David Barrett Partners, an executive search firm, has been hired to find a permanent […]


australia infrastructure

QIC and Future Fund Join AGL Energy on Renewable Energy Fund

AGL Energy Limited, Australia’s second largest energy retailer, is partnering with QIC on forming the Powering Australian Renewables Fund (PARF). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Deloitte is the 3rd Major Auditor to Exit 1MDB

Deloitte Touche Tohmatsu Ltd. becomes the third external auditor to leave 1Malaysia Development Berhad (1MDB). Deloitte had audited 1MDB’s financial statements in 2013 and 2014. Deloitte had resigned in February 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Provides Funding for Quebec Wind Farm

Caisse de dépôt et placement du Québec (CDPQ) is funding the New Richmond wind farm in Gaspésie, operated by TransAlta Renewables Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Are Chinese Investors Ready to Embrace Risk Parity?

The concept of risk parity has garnered significant attention in the world of U.S. public pensions, especially after the global financial crisis. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, July 26, 2016

TransCanada Mexican Pipeline Stake Lures Interest from Canadian Giants [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek to Poach South China Morning Post’s CEO

Singapore’s Temasek Holdings plans to hire the Chief Executive Officer of South China Morning Post Group. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


canada

PSP Investments and OTPP Buyout Santander in Cubico Sustainable Investments

The Public Sector Pension Investment Board (PSP Investments) and Ontario Teachers’ Pension Plan (OTPP) are going to acquire, in equal proportions, Banco Santander S.A.’s indirect interest in global renewable energy and water infrastructure company Cubico Sustainable Investments Limited, a London-based company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


texas

UTIMCO Could Lower Allocation to Hedge Funds

As annual returns are getting publicly posted by long-term institutional investors, many investment boards are frustrated with their hedge fund portfolios. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


US DOJ Seeks to Recover Money Regarding Corruption Involving 1MDB

On July 20, 2016, the U.S. Department of Justice (DOJ) filed a civil complaint seeking to forfeit and recover more than US$ 1 billion in assets that are associated with a conspiracy to launder funds stolen from 1 Malaysia Development Berhad, or 1MDB. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


SWFI First Read, July 25, 2016

Singapore Strategy, Robeco Plants Roots [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]