Friday SWFI News Roundup, December 26, 2014
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
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