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China’s SAFE, ADIA, CPPIB and Others Bid for Madrilena Red de Gas

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Sovereign wealth funds, pension funds and other institutional investors are circling around a Spanish energy infrastructure asset. Madrileña Red de Gas, a Spanish natural gas distributor which is majority-owned by Morgan Stanley’s infrastructure unit, has three bidding groups left in the running. Some of these institutional investors include Abu Dhabi Investment Authority, CPPIB and SAFE Investment Company. Morgan Stanley shelved plans to have an initial public offering for the asset – instead favoring selling the asset.

Citigroup is assisting the sale.

Madrileña Red de Gas posted €180.8 million in revenue for 2014. In 2010, Madrileña Red de Gas was sold to Lisbon-based Galp Energia and Morgan Stanley for €800 million. Energy regulators forced the sale.

Bidding Groups for Madrileña Red de Gas

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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