Connect with us

Friday SWFI News Roundup, December 26, 2014

Published

on

Pension Protection Fund Allocated $400 Million to Energy PE Funds

More pension funds are committing to energy private equity funds. London-based Pension Protection Fund has given mandates to three private equity managers to run energy plays. The £16 billion pension fund allocated up to US$ 400 million to be divided among, EV Energy Partners (EnerVest), NGP Energy Capital Management and ArcLight Capital Partners. The Pension Protection Fund boosted its allocation to alternatives from 20% to 22.5%. The fund has a private equity allocation of 4%.

GIC Buys Controlling Position in Nirlon

GIC Private Limited, through a sovereign wealth enterprise called Reco Berry Pvt. Ltd, has taken a controlling interest in Nirlon Ltd. Nirlon is a listed Indian realty company. Reco Berry is taking a 39.2% stake in Nirlon, and announced an open offer for an additional 28.4% in the company. HSBC Securities and Kotak Mahindra were joint managers on GIC’s offer. The final transaction value is Rs1392 crore. Nirlon owns Nirlon Knowledge Park, a huge commercial office spread in Goregaon, a locality of Mumbai.

Ohio State Teachers Terminates AllianceBernstein International Blend Equity

Columbus-based Ohio State Teachers’ Retirement System terminated a US$ 900 million active international blend equity portfolio being managed by New York-based AllianceBernstein. The key reason for the termination was underperformance. The US$ 900 million in assets are being divided between MFS Investment Management’s active international equity portfolio and AllianceBernstein’s active international value equity portfolio.

Former Singapore SWF Real Estate Executive Joins Harrison Street Real Estate Capital

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

GIC Sells Arizona Biltmore to Blackstone

Published

on

Blackstone Real Estate Advisors, part of the Blackstone Group, acquired the 740-room Arizona Biltmore hotel, located in Phoenix, for US$ 403.4 million. The deal closed on April 20, 2018.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Mubadala Acquires Stake in Growing Hedge Fund Phoenician Capital

Published

on

Mubadala Investment Company, through its unit Mubadala Capital, purchased a minority stake Phoenician Capital, LLC. Although terms and size of the deal were not disclosed, the agreement grants Mubadala Capital rights to invest in a fund managed by the New York-based firm, which generated respective returns of 40.8% and 33.0% in 2016 and 2017, against benchmarks of 12.0% and 21.8% for the S&P 500. The hedge fund runs the Phoenician Offshore Fund Ltd.

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

Continue Reading

Large Asset Managers Continue to Move Operations Out of California

Published

on

In the 2010s, Fisher Investments, an investment firm run by Ken Fisher, moved a large number of employees from the Woodside and San Mateo campuses to a town called Camas in Washington, near Portland. Vanguard has a large operational presence in Arizona, while Charles Schwab Corporation has expanded its technology operations and client services in places like Denver, Dallas, Austin and Phoenix. Dimensional Fund Advisors moved its headquarters in 2008 from Santa Monica, California to Austin.

While asset managers reap profits and try to lower employee head count costs, looking to fly-over country seems appealing.

The Pacific Investment Management Company (PIMCO), part of the Allianz family, selected Austin, Texas as its new office to hire more client services and technology talent. The PIMCO Austin office will open later in 2018. PIMCO is headquartered in Newport Beach, California, with an office in New York City.

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.