Connect with us

Friday SWFI News Roundup, January 23, 2015

Published

on

Korea’s NPS Selects Singapore for Third Overseas Office

Korea’s National Pension Service (NPS) is opening its third overseas office. The NPS has overseas offices in New York and London. The third office overseas will be in Singapore and commence operations in 2015.

Punj Lloyd Sells Global Health Stake to Temasek Holdings

Indian engineering company Punj Lloyd has sold its entire 17.74% stake in New Delhi-based Global Health Pvt. Ltd for around Rs 700 crore (US$ 113.54 million) to Dunearn Investments (Mauritius) Pte Limited, a sovereign wealth enterprise of Singapore’s Temasek Holdings. Global Health Pvt. Ltd owns and manages Medanta hospital in Gurgaon.

Big Raise for Bitcoin-Related Company

Coinbase, a bitcoin startup, has raised US$ 75 million in Series C funding. The lead investor was DFJ Growth. Other investors include: USAA, NTT Docomo (Japan), Valar Capital, BBVA, The New York Stock Exchange, Vikram Pandit (former CEO of Citigroup), Tom Glocer (former CEO of Thomson Reuters) and Carlos Rodriguez Pastor. Returning investors in the round are Reddit Capital, Union Square Ventures and Andreesen Horowitz.

Ameriprise Financial Rebrands, Combines Columbia Management and Threadneedle Investments

Columbia Management, a subsidiary of Ameriprise Financial, Inc., is rebranding its business as Columbia Threadneedle Investments in the first half of 2015. Threadneedle Investments has a strong presence in the United Kingdom, being one of the largest retail asset managers in the country. Both Columbia and Threadneedle are owned by Ameriprise Financial. Combined, the new group will have about US$ 505 billion in assets under management.

Landmark Partners Raises US$ 3.25 Billion for Landmark Equity Partners XV

Landmark Partners closed Landmark Equity Partners XV with US$ 3.25 billion, US$ 1.8 billion has already been invested. The last fund, Landmark Equity Partners XIV, closed at US$ 2 billion in 2010. The secondaries fund is targeting private equity fund interests and stakes in private companies. Some pension investors are St. Louis Public School Retirement System, Louisiana Firefighters’ Retirement System, Kentucky Teachers’ Retirement System and Connecticut Retirement Plans & Trust Funds. Kirkland & Ellis advised Landmark Partners on the latest fundraise.

Temasek Led Series D Round in Pluribus Networks

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

Funds and Ownership, KKR Partners with Shinhan Financial

Published

on

South Korean financial giant Shinhan Financial Group Co., Ltd. reached a preliminary agreement with KKR & Co. to form a series of global buyout funds that could raise up to 5 trillion KRW. KKR and Shinhan signed a Memorandum of Understanding (MoU) in Seoul in early October. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Norwegian Government Recommends SWF Remains at Central Bank

Published

on

There was speculation that Norway Government Pension Fund Global (GPFG) could be managed outside of Norges Bank. The Norwegian government shot down this idea and recommended Norway’s GPFG remain in Norges Bank. This recommendation came in the form of a white paper submitted to the Norwegian Parliament, Stortinget.

Norway’s Minister of Finance Siv Jensen, commented in a press release, “The Government proposes a new and modernised governance structure for Norges Bank. Moving forward, this new structure lays the foundations for the sound management of the central bank and of the GPFG.”

Some Central Bank Recommendations

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

Continue Reading

Invesco Buys OppenheimerFunds for $5.7 Billion

Published

on

Invesco Ltd. signed a deal to acquire OppenheimerFunds, Inc. from Massachusetts Mutual Life Insurance Company (MassMutual). In turn, MassMutual and the OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5% stake. This strategic transaction will bring Invesco’s total assets under management (AUM) to more than US$ 1.2 trillion. The transaction is expected to close in the second quarter of 2019, pending necessary regulatory and other third-party approvals. The transaction gives Invesco access to more third-party distribution platforms.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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.