Connect with us

China Investment Corporation Plans to Open an Office in Toronto, Score for Canada

Published

on

The China Investment Corporation (CIC) is planning to open an office in Toronto. The office will be the main center for North American investments for the CIC. Toronto was chosen over New York and London, as China’s SWF first western outpost. This is a surprise too many, since sovereign funds like the Kuwait Investment Authority, Abu Dhabi Investment Authority, and Singapore’s GIC started Western offices in cities like New York and London. There are a number of select reasons why the CIC chose Toronto over other financial centers like New York, London, and Chicago. First, Toronto is still relatively close to New York and even a fast flight to London. Toronto is also close to Calgary and Vancouver, key cities that have a large presence in the Canadian energy markets.  Second, Canada is one of the only G-7 countries that have been somewhat resilient in the financial crisis of 2008. US Financials proved to be troubling investments for several sovereign funds. From a macro perspective, Canada has a myriad of natural resource opportunities to invest in, coupled with a media and government less intrigued in protectionism. That could change overtime however.

The last office CIC opened was in Hong Kong. This marks the first step in which the CIC will begin to deploy billions directly into the Americas to diversify their holdings. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Marina One and DUO Officially Open

Published

on

Khazanah Nasional Berhad and Temasek Holdings (Private) Limited announced the official opening of two major building projects, Marina One and DUO. Together the properties have a gross development value of 11 billion SGD. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

SWFI First Read, January 16, 2018

Published

on

BP Plans to Take $1.7 Billion Charge to End Legal Claims on Deepwater Horizon

BP Plc is planning to take a US$ 1.7 billion charge to end legal claims regarding the disastrous 2010 Deepwater Horizon spill in the Gulf of Mexico.

Ethereum Co-Founder Leaves Fenbushi Capital

Vitalik Buterin, a co-founder of Ethereum, which is a cryptocurrency, exited China-based Fenbushi Capital. Fenbushi Capital was formed in 2015. Buterin is retaining his role as an advisor of Fenbushi Capital. Buterin dropped out of the University of Waterloo in 2014 when he got a Thiel Fellowship. This permitted him to work on Ethereum full time.

Kingdom Holding Sells Four Seasons Beirut Hotel Stake

Saudi Arabia’s Kingdom Holding sold its position in the Four Seasons Hotel in Beirut for roughly US$ 100 million. Blominvest, a unit of Blom Bank, advised on the transaction. The Four Seasons will continue to manage the property.

Mercer Signs Deal to Buy BFC

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Deutsche Bundesbank to Slowly Add Renminbi into Foreign Reserve Mix

Published

on

Deutsche Bundesbank’s executive board made a decision to invest in Chinese renminbi in the summer of 2017 as part of its foreign currency reserves. The German central bank on January 15, 2018, confirmed it will start investing in Chinese renminbi and also consider investing in additional foreign currencies. The move mimics the European Central Bank (ECB), which already considers the Chinese renminbi as a reserve currency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.