Connect with us

Friday SWFI News Roundup, December 19, 2014

Published

on

Man Group Buying up U.S. Alternative Management Businesses

Man Group has acquired Stamford-based Silvermine Capital Management. Man Group is looking to augment their presence in the United States, buying up alternative shops. Silvermine Capital Management has US$ 3.8 billion in assets under management. Silvermine is owned by its founders and senior executives. The firm focuses on U.S. levered credit portfolios. The deal is expected to close in the first quarter of 2015, which the company will be integrated under Man GLG, a subsidiary of Man Group. In 2014, the Man Group acquired Merrill Lynch Alternative Investments hedge fund-of-funds business, Numeric Holdings and Pine Grove Asset Management. Berkshire Capital Securities was the financial adviser to Silvermine.

Aviva Investors Has a New Fixed Income CIO

Aviva Investors, the investment arm of Aviva plc, has appointed Mark Connolly as chief investment officer for fixed income. Connolly replaces acting chief investment officer for fixed income Jean-Francois Boulier. Jean-Francois Boulier will continue his role as CEO, France for Aviva Investors. Connolly will report to Aviva Investors CEO Euan Munro. Connolly came from Scottish Widows Investment Partnership (SWIP) where he as a director and head of fixed income.

Goldman Sachs Promotes Waldron to Co-Head of Investment Banking

Goldman Sachs has appointed John E. Waldron to be co-head of the Investment Banking Division. Waldron joins Richard Gnodde and David Solomon to augment and grow Goldman Sachs’ investment banking business. Waldron was global head of Investment Banking Services and Client Coverage. From 2005 to 2007, he was first global co-head of the Financial Sponsors Group. Waldron joined Goldman Sachs in 2000. He assisted media head honcho Rupert Murdoch split his media business into 21st Century Fox and News Corporation. In other news, John S. Weinberg, vice chairman of Goldman Sachs, will focus on client development and other initiatives at Goldman Sachs.

Khazanah Denies Jentayu Danaraksa’s Bid

Khazanah Nasional has denied a proposal from Malaysian venture capitalists, Jentayu Danaraksa Sdn Bhd, to acquire select assets of troubled airliner Malaysia Airlines. Jentayu Danaraksa Sdn Bhd wants to buy the airlines’ parent company Penerbangan Malaysia Bhd (PMB).

State Street Appoints Rogers as President and Chief Operating Officer

State Street Corporation has appointed Michael (Mike) F. Rogers to president and chief operating officer. He will continue to report to Jay Hooley, chairman and CEO of State Street. Rogers joined State Street in 2007 following its acquisition of Investors Financial, where he served as president for six years. In addition, Wai Kwong Seck and Gunjan Kedia were appointed to State Street’s management committee.

GPIF May Change Governance Structure

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

Mergermarket Gets Ready to be Sold

Published

on

Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

Continue Reading

Why Japan Post Sees Promise in Aflac

Published

on

Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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

Continue Reading

RDIF and Development Agency of Serbia Agree to Explore Joint Investments

Published

on

The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

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.