Archive | March, 2017

Mubadala Reveals 2016 Financial Results

This article may be one of the last few times SWFI refers Mubadala as the Mubadala Development Company. The development company is becoming an “investment” company, after its merger with International Petroleum Investment Company (IPIC). The new entity will be called Mubadala Investment Company, targeting May 2017 for the birthing date. The merged entity will […]


Investor Group to Acquire Energias de Portugal’s Spanish Gas Distribution Network

Lisbon-based Energias de Portugal, S.A. (EDP) has agreed to the main terms of selling its gas distribution subsidiary in Spain, Naturgas Energía Distribución, S.A. (NED) to an investor group, valuing the unit at €2.591 billion. NED is made up of over 1 million supply points of natural gas and liquefied propane gas, located in the […]


South Korea’s MMAA Promotes Jae-dong Kim to CIO

South Korea’s Military Mutual Aid Association, a soldiers’ welfare savings fund, has promoted Jae-dong Kim as the new chief investment officer. Previously, he was Head of Equity Investments at the organization. Jae-dong Kim is essentially taking over the spot of the now former CIO Sang-ho Lee. [ Content protected for Sovereign Wealth Fund Institute Standard […]


British Airways Qatar

Fresh Off Article 50, Heathrow to Get More Money from Shareholder Base

Fresh after the handing off of Article 50, institutional investors are moving forward pouring an additional £650 million into improving Heathrow Airport. Heathrow Airport is home to more than 80 airlines. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi Aramco Names More Advisors for Future Listing

The Saudi Arabian Oil Company (Saudi Aramco) has taken a number of forward steps regarding its planned initial public offering (IPO). For example, in March, the Saudi Arabian government lowered the tax rate paid by Saudi Aramco from 85% to 50%.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


RDIF Invests in Data Leakage Prevention Software Company

Increasingly more capital is flowing into the cybersecurity sector. The Russian Direct Investment Fund (RDIF) invested in InfoWatch Group, a corporate information security company, for a minority equity stake. InfoWatch specializes in preventing information leakages – this software is known as data leakage prevention (DLP) software. [ Content protected for Sovereign Wealth Fund Institute Standard […]


OTPP and Temasek Join Selling Shareholders in Athene Secondary Sale

Bermuda-based Athene Holding Ltd., a listed fixed annuities provider, had announced an underwritten offering of its Class A common shares, some 25,000,000 shares. These shares are being sold by a cadre of shareholders with an estimated price tag of US$ 1.27 billion. Athene will not receive any proceeds from the share sale offered. In addition, […]


Citigroup Defeats ADIA in Court Again, SWF Mandated to Pay Legal Fees

The Abu Dhabi Investment Authority (ADIA) had pursued a number of legal avenues which stem from its US$ 7.5 billion bailout of Citigroup Inc. Citigroup had won ADIA over the lawsuit, but ADIA kept pursuing a variety of legal channels. Ultimately, so far, Citigroup has prevailed in U.S. courts. ADIA was represented by Quinn Emanuel […]


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Public Institutional Investor Capital Eyes Access to Clinical Trial Company

The upward sloping trend of mega pharmaceuticals outsourcing research, development and operations continues to thrive. Wilmington, North Carolina-based Pharmaceutical Product Development LLC, a clinical research company, could have some new foreign institutional owners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, March 29, 2017

CIT Finances Battery Storage System in Los Angeles CIT led the non-recourse project financing of a 50 megawatt fleet of behind-the-meter, battery storage systems located in certain grid-constrained pockets of the West Los Angeles Basin. Macquarie Capital had acquired the asset from Advanced Microgrid Solutions in August 2016. Since the August acquisition, Macquarie and Advanced […]


NSSF

OTPP and OMERS Back Smart Meters in the UK

The Ontario Teachers’ Pension Plan (OTPP), Borealis Infrastructure (part of the Ontario Municipal Employees’ Retirement System), and U.K.-based SSE plc are backing the formation of two new companies that will target the U.K. energy utility market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


doha sovereign wealth fund

QIA Plans to Sell Some Shares in Santander Brasil

UPDATE, April 6, 2017: The Qatar Investment Authority on April 6th, sold 2.5% of Banco Santander (Brasil) S.A. for 2.3 billion BRL (US$ 737 million). This transaction was a restricted offering after banks exercised an option to buy additional units. The Qatar Investment Authority (QIA) is seeking to trim some of its holdings in Banco […]


CPPIB and KKR Invest in Bharti Infratel

The Canada Pension Plan Investment Board (CPPIB) and a group of funds advised by KKR acquired over 190 million shares, representing a 10.3% stake in Bharti Infratel Limited, a subsidiary of Bharti Airtel Limited. Bharti Airtel Limited is India’s largest telecommunications services provider. The total consideration for the secondary sale was over Rs 6,193.9 crore […]


Know Your Customer (KYC) is Becoming More Important Than Ever

The phrase “Know Your Client”, “Know Your Customer”, or “KYC” for short is becoming a more important term as an increasing number of global institutions are entering the fray, engaging in more alliances and transactions and working together on capital-intensive efforts. KYC is becoming increasingly vital as regulations sprout and fiduciaries should know what kind […]


Greenko Energy Gets More Sovereign Fund Cash

Greenko Energy Holdings, an Indian renewable energy company that is domiciled in Mauritius, received another fresh capital injection from sovereign wealth funds. Greenko is getting US$ 123.9 million from a sovereign wealth enterprise (SWE) of Singapore’s GIC Private Limited, while an Abu Dhabi Investment Authority (ADIA) SWE is committing US$ 31.1 million. GIC remains the […]


SWFI – Movers and Shakers – March 28, 2017

Charlie Shaffer Joins Voya Investment Management to be Head of International Distribution Voya Investment Management hired Charlie Shaffer to be managing director and head of Institutional Distribution. He will be based in New York and report to Shaun Matthews, who is the Senior Managing Director, Head of the Client Group at Voya Investment Management. Shaffer […]


Bpifrance Acquires APE’s Stake in PSA Group

The Agence des Participations de l’Etat (APE), a French government holdings entity overseeing around 70 firms, sold its 12.7% ownership stake in automobile manufacturer PSA Group (also known as Groupe PSA) to Bpifrance for €1.92 billion (US$ 2.1 billion). This represents a €1.12 billion capital gain for APE. Paris-based PSA Group makes cars and other […]


PSP Investments, Digital Bridge and TIAA Buyout Vantage Data Centers

According to data from the Sovereign Wealth Fund Institute (SWFI), there has been a tremendous increase over the past three years in public institutional investors directly investing into data centers. On March 27, 2017, an investor group made up of Public Sector Pension Investment Board (PSP Investments), TIAA Investments (an affiliate entity of Nuveen), and […]


Temasek Invests in Manipal Health

With a fertile population and a growing middle class, India’s hospital sector will need more beds over the next decade to accommodate market demand. Hospital companies have attracted the attention of wealth funds, pensions and private equity firms over the past five years in India. Singapore’s Temasek Holdings is poised to acquire an 18% stake […]


Qatar Sovereign Fund Plans to Open San Francisco Office

In joining many of its sovereign wealth fund peers, the Qatar Investment Authority (QIA) plans to open an office in San Francisco in 2017 or in the first quarter of 2018. The QIA has an office in Manhattan. The CEO of QIA informed an audience at the Qatar UK Business and Investment Forum, on March […]