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3 Brilliant Ways Sovereign Funds Are Diversifying

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With the growth of sovereign wealth fund assets slowing down due to low commodity prices, sovereign investors have been re-adjusting their portfolio strategies. For example, the Abu Dhabi Investment Authority (ADIA) have augmented hiring in the areas of institutional real estate. While others, like the Saudi Arabian Monetary Agency (SAMA), has terminated mandates to enhance portfolio liquidity. In this new era of low-oil prices, sovereign funds are expanding investment capabilities and hiring specialists to achieve the return expectations of their owners.

As many commodity-based sovereign wealth funds encounter funding pressures and capital withdrawals, a group of sovereign investors are looking to sell-off assets.

3. Sovereign Funds and Canadian Pensions Pivot to Indian Institutional Real Estate

While Norway’s sovereign wealth fund touted the opening of its Tokyo office to target core office real estate, a cadre of pensions and sovereign investors have pivoted toward India. In April 2015, Singapore’s GIC Private Limited, through Reco Berry Private Limited, acquired a 63.9% stake in Nirlon Ltd, an Indian property developer that owns a massive information technology complex in a Mumbai suburb. In June, Canada Pension Plan Investment Board (CPPIB), through its 2013 joint venture partnership with Shapoorji Pallonji Group, made its first acquisition, buying 100% of the securities of Faery Estates Private Limited, an Indian company which owns, operates and maintains SP Infocity IT Park in Chennai, India. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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