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2012 Direct SWF Transactions Total 57.3 Billion, 36 Percent Drop from 2011



The Sovereign Wealth Fund Transaction Database (SWFTD) totaled calendar year 2012 direct sovereign wealth fund transactions to be US$ 57.3 billion, a 36% drop from US$ 89.5 billion in 2011. The fourth quarter of 2012 finished off the strongest in direct transaction amounts, with the second quarter finishing last. In fact, the fourth quarter transaction amount for 2012 has topped 2011 and 2010 by a hair, but not 2009. It is important to remind readers that the database calculates direct sovereign wealth fund transactions, not money given to a commingled fund or funds managed by a third party to invest.

By excluding bailouts such as Ireland’s NPRF infusion to prop up the two major Irish banks and other domestic economic stabilization transactions, there maintains an upward 10-year slope of direct sovereign wealth fund transactions.

Total Direct Sovereign Wealth Fund Investment Activity Per Annum

sovereign wealth fund transactions jan 2013

Annual Sector Growth by Direct Transaction Amount

Sector 2011-2012
Consumer Staples 127.9%
Information Technology 90.1%
Materials 49.0%
Real Estate 36.4%
Infrastructure -2.6%
Consumer Discretionary -22.7%
Energy -46.8%
Utilities -53.6%
Healthcare -57.6%
Industrials -62.7%
Telecommunications -71.3%
Financials -77.1%
Media and Entertainment -93.3%

Source: Sovereign Wealth Fund Transaction Database – Latest database statistics of 1/13/2013

Sovereign wealth funds have actively been investing in 2012, but in some instances they may allocate money to external managers. This often occurs when a fund takes on a new strategy or does not have the capability in-house.

Committing capital to real estate funds has increased in 2012, as SWFs seek to diversify from fixed income and a volatile global equity market. In addition, from 2009 to 2011, assets from a variety of classes were discounted, and sovereign wealth funds stepped in.

The Sovereign Wealth Fund Transaction Database is available online for database subscribers. Transaction data can now be accessed on a more frequent basis. The SWFTD now contains over 3,900 recorded transactions.

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DP World and NIIF Joint Venture Embarks on First Investment



Hindustan Infralog Private Limited, the US$ 3 billion joint venture formed in January 2018 between DP World and the National Investment and Infrastructure Fund (NIIF) to invest in ports, logistics and warehousing, agreed to acquire 90% of Continental Warehousing Corporation (Nhava Seva) Limited for US$ 400 million. 10% is being retained by the company’s founders – the Reddy family. Adi Keshav Reddy is the founder of Continental Warehousing. This is the first investment of the Hindustan Infralog platform.

The sellers include Warburg Pincus India Pvt Ltd, International Finance Corporation (IFC) and Aureos Capital, a joint venture between the CDC and Norfund that was acquired by Abraaj Capital.

Barclays, Citi and Detusche Bank advised on the transaction.

Continental Warehousing was formed in 1997 and is one of India’s biggest container warehousing firms – operating container freight stations and private freight terminals across India. In April 2011, Warburg Pincus invested in Continental Warehousing, committing US$ 100 million. In December 2015, IFC invested US$ 25 million in equity and lent US$ 35 million in debt to Continental Warehousing.

In India, DP World has been operating container port terminals since 1997.

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SWFI First Read, March 18, 2018



Surbana Jurong and China Vanke Tie up Deal for Industrial Town Projects

Surbana Jurong, a real estate development company focused on urban projects, inked a deal with China Vanke to partner on new industrial towns in China’s midwest regions. Surbana Jurong is majority-owned by Singapore’s Temasek Holdings. The first joint project is Vanke’s Jianzhou Dream Town in Chengdu. Surbana will provide the design for this project.

PIF Eyes Hollywood Talent

Saudi Arabia’s Public Investment Fund (PIF) is looking at investing in a less than 10% stake in Endeavor, LLC, a talent agency holding entity of WME for a reported US$ 400 million.

Alex Wilmot-Sitwell of BAML Resigns

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Mubadala Invests in No Fly Zone Drone Radar Company



Data Collective led a US$ 15 million Series A round into Salt Lake City-based Fortem Technologies, Inc., a company that works on solutions that can detect, identify and classify drones in real time to maintain airspace safety. Other investors in the round include Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

Ibrahim Ajami, Head of Mubadala Ventures said in the press release, ” Mubadala is excited to work with Fortem and its outstanding leadership team to help grow its business to new markets.”

Ajami added, “We strongly believe the TrueView radar is essential to maintain a safe airspace for both the aircraft and the critical infrastructure on the ground.”

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