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European Cities Compete for Institutional Investor Operational Presence

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A significant portion of the world’s largest sovereign funds have offices in London, including the revolution battered Libyan Investment Authority (LIA). Elephantine pension investors such as the Canada Pension Plan Investment Board (CPPIB) and Korea’s National Pension Service also have a presence in London. Institutional investors are naturally attracted to financial centers. Since 1986, the financial services sector experienced deregulation in the U.K., and multiple executive administrations, despite political party changes, have kept the environment relatively attractive for financial capital. Granted, countries and states like Luxembourg and Jersey have advantages of structuring investment vehicles; the U.K. has economic size to its advantage.

The battle of luring the world’s largest institutional investors to a core European city has been brewing for quite some time.

Culturally, the British have an extensive history of being a colonial power, pushing influence in all corners of the globe. This can be true also of the French, Portuguese, Dutch and Spanish, but the British were able to influence regions from where sovereign funds have sprouted like Brunei, Kuwait, United Arab Emirates, China, United States, Ireland and so on. Former territories and colonies have had long-term relationships with the British government and financial institutions – forging decades of economic cooperation and levels of trust.

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PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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