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Chinese sovereign wealth fund interested in taking a stake in Fonterra, says Prime Minister Key

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The New Zealand Herald states, “Prime Minister John Key has revealed China’s US$200 billion ($349 billion) sovereign-wealth fund has signaled its interest in a stake in NZ dairy giant Fonterra if it changes its capital structure. China Investment Corp chief executive Lou Jiwei made the fund’s interest in Fonterra, and other New Zealand assets, clear in a meeting with Key at the Boao Forum for Asia two weeks ago.

But Key stressed it was up to Fonterra’s farmer shareholders to resolve the appropriate capital structure. Sources told the Herald Key’s preference would be for the NZ Superannuation Fund – rather than another nation’s wealth fund – to take a stake in Fonterra. The Prime Minister has made clear to Chinese investors that New Zealand would welcome increased investment particularly in greenfields or co-ventures. Key also met a representative from the Canadian suitor for Auckland International Airport whose successful bid for a 40 per cent stake was overturned when Labour Cabinet ministers changed the overseas investment rules.”

read more: New Zealand Herald

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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