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China Sovereign Fund Unloads Immense Stake in General Growth

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retailThe China Investment Corporation (CIC), a long-term institutional investor, captured some gains from the large equity stake it took in General Growth Properties Inc., a position it entered as the second largest U.S. mall owner crept out of bankruptcy.

On November 5, 2013, the CIC made filings with the SEC indicating that it dumped over 27.9 million shares in General Growth Properties as well as all of its 16.7 million warrants. Brookfield Asset Management held the securities in a specially created entity on behalf of Stable Investment Corp. (SIC) and Best Investment Corp. (BIC), two wholly-owned subsidiaries of the China Investment Corporation. On November 1, Brookfield sold 19.5 million shares of the common stock and distributed US$ 584.73 million, 33.5 million shares of General Growth and 1.98 million shares of Rouse Properties Inc. to SIC and BIC.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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