Connect with us

Deep Dive with Charlie Welsh, Co-Founder of Mergermarket

Published

on

Charlie Welsh, Co-Founder of Mergermarket

Charlie Welsh, Co-Founder of Mergermarket

This interview will appear in the 1Q Y2014 (April 2014) issue of the Sovereign Wealth Quarterly.

This is a deep dive with Charlie Welsh, Co-Founder of Mergermarket

1. As co-founder of the Mergermarket Group, what is one lesson that should be learned about the current M&A environment in Asia?

In recent years China’s foreign investment strategy has been largely focused on gaining control of strategic raw materials that the country needs, such as energy, metals and food, this trend has become dominant. Chinese companies are now increasingly looking to move up the production value curve and be less dependent on commoditized, labor-intensive manufacturing processes. In many cases the only way to do so is to attain access to production technologies and expertise that are possessed by companies based in more advanced economies. While this can sometimes be attained by licensing the technology or forming a partnership with a technology transfer arrangement, Chinese companies are looking to formal joint ventures and, increasingly, to the acquisition of western companies that can help them develop such technological expertise.

2. During a news conference on March 6, 2014 at the National People’s Congress, China Finance Minster Lou Jiwei commented that, “Whether GDP growth is to the left or to the right of 7.5 percent, that is not very important. What is important is job creation.” Do you have any thoughts on this?

China views economic growth less from a statistically or financially-defined perspective, but more in terms of its ability to preserve social stability. The country has emerged from a very poor, undeveloped country to the world’s leading industrial production base in just 35 years. During this time vast numbers of its predominantly rural-based population have been migrating to the countries many cities where they have experienced increased standards of living, higher levels of education and greater personal freedoms. However the freedoms have been carefully limited and the country remains controlled by one central political organization. It could be argued that this political control has been accepted because the system has focused on ensuring the provision of jobs for the country’s vast population.

China has been attempting to form bilateral currency swap agreements with some trading partners in order to avoid having to rely on the dollar or other reserve currencies.

3. How will China respond to a major GDP contraction?[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, September 21, 2018

Published

on

U.S. Public Becomes More Aware that Gmail Scans Emails

Alphabet is a major stock holding for sovereign wealth funds and large pensions. Search giant Google is under fire for allowing third-party partners and companies, like Return Path Inc and other advertisers, to share data from Gmail accounts. Many experts and tech observers already knew this, but more people in the public are becoming aware of Google’s practices when it comes to privacy. Google disclosed in a letter to U.S. lawmakers this finding. The Wall Street Journal reported that in some instances, app companies were able to read people’s emails in order to improve their algorithms. In 2017, Google said they would stop scanning all of one’s Gmail messages for the goal of personalized ads.

GPIF Infrastructure Exposure Almost Reached 200 Billion Yen in March 2018

Japan Government Pension Investment Fund’s (GPIF) exposure to infrastructure real estate was 196.8 billion JPY at the end of March 2018. At that period, 57% of the exposure was to the UK, 15% was to Australia, 15% to Sweden, 10% to Spain and 3% to Finland. 21% of GPIF’s infrastructure portfolio was linked to airports versus 27% to ports.

AIMCo-backed sPower Closes $498.7 Million Bond Deal

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

Continue Reading

Iceland Contemplates a Sovereign Wealth Fund

Published

on

The Government of Iceland is looking to possibly form a sovereign wealth fund to stabilize the country from unforeseen shocks to the national economy. The Iceland government released a statement saying, “The state’s contributions to the Fund will be equivalent to new revenues from publicly owned power production companies which are expected to accrue in the coming years.”

Continue Reading

CBRE Global Wins First GPIF Global Real Estate Mandate

Published

on

Japan Government Pension Investment Fund (GPIF) awarded its first global real estate mandate by hiring CBRE Global Investment Partners Limited. This is a global core real estate fund-of-funds separate account. Overseeing this mandate as a gatekeeper is Asset Management One Co., Ltd., which is a unit of Mizuho Financial Group. This RFP was launched in April 2017.

CBRE Global Investment Partners is the multi-manager arm of CBRE Global Investors.

In addition, on August 8, 2018, GPIF hired two custodians for short-term investments. These custodians are Trust & Custody Services Bank, Ltd and The Master Trust Bank of Japan, Ltd.

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.