Archive | May, 2017

BlackRock Flexes its Passive Muscle Forcing Climate Change Reporting on ExxonMobil

Shareholders of ExxonMobil voted 62.3% in favor of climate change disclosure. The oil giant will be required to report and disclose potential global laws, regulations and measures that could affect the company in regard to the Paris Agreement on climate change. ExxonMobil’s company management was against the proposal. Interestingly, ExxonMobil has said it supported the […]


YIELD GAME: Korean Institutional Investors are Lending Money to More Airlines

Korean institutional funds are finding opportunity in aircraft leasing and lending. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 31, 2017

Anbang Insurance Group Acquires Doubletree by Hilton Amsterdam China’s Anbang Insurance Group acquired the 557-room Doubletree by Hilton Amsterdam Central Station for roughly €350 million from The Blackstone Group. CBRE had advised Blackstone on the deal. Tech Luminaries and Billionaires Raise Money for Change.org San Francisco-based Change.org, a social for-profit petition platform, has raised US$ […]


Deep Dive with CIO Farouki Majeed of Ohio School Employees Retirement System

This is an interview conducted by Michael Maduell of SWFI and Farouki Majeed, Chief Investment Officer of the Ohio School Employees’ Retirement System. MADUELL: Thank you for this interview. I’m talking with Farouki Majeed, the CIO of Ohio School Employees’ Retirement System. How long have you been at this organization? MAJEED: I’ve been CIO for […]


Goldman Sachs Under Fire on Venezuelan Bond Investment

As Venezuela struggles to feed its people and is in the midst of a political crisis stemmed from out-of-control socialist policies draining public coffers, institutional investors have been reluctant to invest in the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Ivanhoe Cambridge Buys 85 Broad Street, Former Goldman Sachs HQ

Ivanhoé Cambridge, the real estate arm of CDPQ, and its partner Callahan Capital Properties announced that they have acquired 85 Broad Street, a 30-storey office building in Downtown Manhattan, New York, for approximately US$ 650 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SoftBank Buys Stake in Mature Operational Intel Firm from Venture Capitalists

Japan-based SoftBank Group, which oversees its massive Vision Fund, acquired a minority equity stake San Leandro, California-based OSIsoft, LLC, a firm that dwells in operational intelligence. SoftBank purchased the significant minority interest in OSIsoft from Kleiner Perkins Caufield & Byers (Kleiner Perkins), Technology Crossover Ventures (TCV) and Tola Capital. In 2016, Mitsui & Co. became […]


PSP Investments Acquires Minority Interest in Puerto Rico’s Main Airport

Behind the backdrop of the Puerto Rican debt crisis and its filing for bankruptcy protection, one Canadian pension sees value in its main airport. In addition, Puerto Rico’s main airport was hit with a Zika epidemic, affecting some 20,000 people in 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


Vanguard Plants Flag in Shanghai

While Canadian investment managers such as Manulife Asset Management prefer distribution partnerships when entering China, other fund managers are making moves to go at it alone. Manulife Asset Management and China Life just inked an investment partnership. Index giant Vanguard Group is the biggest mutual fund company in the world and has opened a subsidiary […]


Dutch Pensions Sell Q-Park to KKR

KKR, through its infrastructure platform, is buying 100% of the outstanding share capital of Q-Park N.V., a European parking company with more than 870,000 parking spaces in over 6,300 locations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 29, 2017

CIC Appears to be in Front for Logicor Deal Some sources are reporting that the China Investment Corporation (CIC) could be the winning bidder for Logicor, the European logistics business of The Blackstone Group. Other bidders include Global Logistics Properties (GLP) and Temasek Holdings, along with Mapletree Investments. Blackstone hired Eastdil Secured to facilitate the […]


Hapag-Lloyd and United Arab Shipping Company Merger is Finalized

The merger between Hapag-Lloyd AG and United Arab Shipping Company (UASC) has finalized. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SHOE DROPS: GM Faces Suit on Alleged Diesel Emissions Cheating

Car manufacturers are under the sword from law firms and regulatory agencies when it comes to diesel nitrogen oxide emissions testing. Nissan, Subaru, Fiat Chrysler, Daimler AG, have all been accused or sued for using methods to dodge emission rules. The first casualty of stemming from the scandals was Volkswagen, which paid a heavy price […]


Norway’s Sovereign Wealth Fund to Await Climate Change Research Results from NY Universities

The Norwegian Finance Initiative (NFI) has awarded two research grants for two separate research projects at Columbia University and New York University. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Some Senators Have National Security Concerns on Foreign Property Investors

Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower. The China Investment Corporation (CIC) officially opened […]


Intesa Sanpaolo Moves to Syndicate Rosfnet Stake Acquisition Loan

Italian bank Intesa Sanpaolo initiated moves to syndicate a loan it provided to Glencore and Qatar Holding, a SWE of the Qatar Investment Authority (QIA), regarding their acquisition of a 19.5% stake in Rosneft. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Follow the Money – Episode 38

Rachel and I discuss the SoftBank Vision Fund, Saudi Arabia, the Middle East and sovereign wealth funds in this episode of Follow the Money. Rachel gives her opinion on the Blackstone infrastructure fund. This podcast was recorded on May 24, 2017. Download the Episode CONTENTS 1:05 Chatting about Saudi Arabia, SoftBank Group and Sovereign Wealth […]


bcIMC Sells 5% Stake in Spain’s CLH to APG

APG Infrastructure, a unit of APG Asset Management, purchased a 5% stake in Compañía Logística de Hidrocarburos SA (CLH) from bcIMC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


OMERS Backs Canadian ETF Provider

OMERS Platform Investments, a unit of OMERS, is buying a minority equity interest in Toronto-based Purpose Investments Inc., an asset management firm with over US$ 3.3 billion in assets under management. Purpose Investments is an exchange traded funds (ETF) provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


Australia’s Future Fund Has Benchmark Return Modified

In a document titled, Future Fund Investment Mandate Direction 2017, the Australian government’s mandate for its Future Fund has changed. The benchmark return was modified to an average over the long-term consumer price index (CPI) to +4% per annum to 5% per annum. This means the sovereign fund’s target mandate was lowered; the Future Fund […]