Connect with us

COMEBACK: Goldman Sachs Tops SWFI Financial Advisory League Table for H1 2016

Published

on

SWFI_leaguetable_july2016reportSovereign wealth funds are significant actors when it comes to the world of direct investing. Since the 2000s, the number of wealth funds has blossomed. However, over the past year, there has been a recognizable slowdown in the dollar amount of cross-border SWF investment as deal making activity considerably subsided. For the first half of 2016, wealth funds and other public pension investors invested US$ 73.2 billion directly, according to data from the Sovereign Wealth Fund Transaction Database. This is a sharp decline from the US$ 126.7 directly invested in the first half of 2015.

A number of observations are that more wealth funds have been allocating toward alternative investment vehicles such as real estate funds, credit funds and infrastructure funds. Second, there has been some pull back in direct listed equity investing. Third, there were gaps between buyer and seller valuations in industries such as financials. For example, TPG’s bid to acquire ICICI Home Finance was delayed because ICICI Bank demanded a higher valuation. TPG ended up agreeing to a price, then reached out to some wealth funds to help back the deal. Lastly, wealth funds alone in the first half of 2016 invested US$ 37.1 billion directly versus US$ 67 billion from the first half of 2015.

For the first semester of 2016, the top financial advisor was Goldman Sachs. Goldman Sachs rose from fifth, in the second half of 2015, to first in the current half-year period. Goldman Sachs was ranked #1 for the first half of 2015. Vacating their former top spot which they occupied in the second half of 2015, is Eastdil Secured.

Legal Advisors

For the first half of 2016, the top legal advisor for public fund transactions was Linklaters tied with Herbert Smith Freehills.

You must be logged in to download the league table briefing.

Subscriber Download

Report is for subscribers only.

View SWFI League Tables

Source: SWFI – Sovereign Wealth Fund Transaction Database – www.swftransaction.com, July 6, 2016

Rumors Swirl Around PIF Looking at Tesla Rivals

Published

on

Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

Published

on

Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

QIA-Glencore Stake Valued at 7.4 Billion euros

Published

on

QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ 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.