Major Real Estate Transactions in Australia and California
The Government of Singapore Investment Corporation is part of a partnership to invest in an office tower on 101 California Street in San Francisco. The 30-year old tower has 48 floors and is a 1.2 million square-foot property. The building was owned by Nippon Life Insurance Company and Hines. Nippon Life sold its 92% stake for US$ 851 million. Hines will continue to manage the property. Major tenants include, Morgan Stanley, Deutsche Bank, Merrill Lynch and Cooley Godward.
In 1982, Hines constructed the office tower and sold the majority stake to Nippon Life Insurance Company in 1987, during the period of major Japanese real estate acquisitions in the U.S.
Australia
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Youtube, a video service of Google, is crashing. Institutional investors are major investors in Alphabet, the parent company of Google.
At 6:41 PM on October 16, 2018, Team YouTube tweeted, “Thanks for your reports about YouTube, YouTube TV and YouTube Music access issues. We’re working on resolving this and will let you know once fixed. We apologize for any inconvenience this may cause and will keep you updated.”
Formed in Shenzhen in 1998, Chinese tech giant Tencent Holdings Limited is the largest gaming company in the world and the largest gaming market is in China. In August 2018, China’s Education Ministry disclosed its monitoring how many new games are coming online. Tencent needs approval from the Chinese government to publish games. In 2017, almost 9,000 games were approved in China compared to only 1,931 in 2018. Chinese President Xi Jinping is keen on combating shortsightedness in children from the overuse of video games.
Anime
Tencent will inject US$ $317.6 million into Chinese streaming site Bilibili in return for 12.3 % equity in the company. Bilibili is a video sharing site known for streaming anime, comics, and games. Tencent’s investment follows previous funding rounds from Tiger Global Management, Wells Fargo, JPMorgan Chase, BlackRock, and Alkeon Capital Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The International Finance Corporation (IFC) and the Ireland Strategic Investment Fund (ISIF) inked a Memorandum of Understanding (MoU) that will initially focus on investment opportunities in the food and agriculture sector, given its strength and importance for the Irish economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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