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Friday SWFI News Roundup, August 22, 2014



Panama’s Sovereign Wealth Fund Looks to Hire

Panama’s FAP is looking to hire external fund managers as it prepares mandates in fixed income and equities. The FAP has a dual mandate to stabilize the fiscal budget and build integenerational savings.

View Panama’s SWF Profile and Asset Allocation

JP Morgan Attempts to Reach Upper Echelon in Cash Equities for Sovereign Funds

JP Morgan is reorganizing some of its sales resources and personnel to gain more business in its cash equities area. In London, the bank has beefed up its dedicated equities salesforce to pursue sovereign wealth funds and hedge funds. Christian Kutscher will manage the dedicated equities sales team that will cover European sovereign wealth funds.

Bain Capital Takes 50% Stake in TOMS Shoes

Private equity firm Bain Capital LLC beat out other bids and has agreed to purchase a 50% stake in TOMS Shoes Inc, a U.S. casual footwear company. The transaction price is US$ 625 million including debt. TOMS founder Blake Mycoskie the sole owner will hold half of the company.

OMERS PE Invests in Document Technologies Holdings

OMERS Private Equity, the private equity arm of the Ontario Municipal Employees’ Retirement System, acquired Atlanta-based Document Technologies Holdings (DTI), a provider of legal process outsourcing services. OMERS PE and DTI’s management competed a recapitalization and provided an exit for U.S. private equity firm Harvest Partners. Weil Gotshal & Manges LLP acted as legal counsel for OMERS PE.

Ahmed Ali Attiga May Become Next LIA Chief

Ahmed Ali Attiga has a good chance of being the next chief executive of the Libyan Investment Authority. Attiga worked for the International Finance Corporation in Jordan and comes from a well-known Libyan family that has associations with the former Libyan King Idris. The LIA hired an executive search company to find the next CEO.

Former TD CEO Murdock is the New CEO for Strategic Investment Group

Founder Hilda Ochoa-Brillembourg has stepped down as CEO of Strategic Investment Group. She will stay on as chairwoman of the company. Brian Murdock was named CEO of the company. Brian Murdock was the CEO and Chairman of TD Asset Management. As of June 30, 2014, the Strategic Investment Group had US$ 32.7 billion in assets under management.

Orchid Asia VI Raises US$ 920 Million

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Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank



In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund



Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables



Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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