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China Investment Corp Invests in Vietnamese Coal-Fired Plant

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Investing in new-energy infrastructure is a blossoming area for many sovereign investors. There are numerous inherent risks in these types of projects such as political risk, financing risk, and developmental risk. In the past, the China Investment Corporation (CIC) has invested in AES Corp. stock. AES Corp. and the CIC have partnered strategically and financially. Recently, the CIC and AES Corp have partnered in a Vietnamese infrastructure project. By partnering with the China Investment Corporation and Posco, AES Corp has lowered political risk in the project, since the deal is involving foreign governmental investors.  Vietnam has a growing economy in which energy demand has exceeded supply. Energy generation capacity is trailing behind demand.

After completion this will be the biggest private sector power plant in Vietnam and will set precedence for future foreign investment in Vietnamese infrastructure.

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Alibaba Invests in Series C in 1919 Wines

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On October 18, 2018, Alibaba Group Holding Limited, through Alibaba (China) Network Technology Co., Ltd, invested some 2,000,000,065.08 RMB (US$ 288,447,000) for 39,277,299 shares in a Series C round into 1919 Wines & Spirits Platform Technology Co., Ltd., a Chinese alcohol beverage e-commerce retailer. Post-deal, Alibaba owns about 29% of the company shares and became the second largest shareholder of 1919 Wines. The transaction values 1919 Wines at 7 billion RMB.

GF Securities Co., Ltd. advised 1919 Wines on the transaction.

Formed in 2010, 1919 Wines is based in Chengdu. 1919 Wines owns retail portals, phone apps, and offline stores.

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Nomura and CIC Contemplate Joint Investment Fund

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Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Holdings Dumps More of Celltrion

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On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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