Connect with us

Friday SWFI News Roundup, March 27, 2015

TRS Delivers 8.51% for 2014 Return

The Teacher Retirement System of Texas posted an 8.51% return for 2014, beating its policy index by 0.04%. The highest performing asset class for the pension system was stable value which posted 21.4%. Real return asset class posted 10.2%, followed by risk parity at 8.1% in return. Directional hedge funds for the system generated -0.7% in return.

BlackRock Intrigued by Mexican Infrastructure, Invests in Energy Sector

BlackRock is seeking to allocate capital to infrastructure developments in Mexico, specifically in energy. BlackRock just inked a deal with Petróleos Mexicanos (PEMEX). BlackRock and First Reserve kicked in US$ 900 million for a 45% stake in a pipeline project, Los Ramones II pipeline. The energy infrastructure feeds U.S. natural gas into central Mexico. The pipeline is expected to be completed at the end of 2016.

BlackRock already has a presence in Mexico City through its iShares business. In addition, BlackRock’s infrastructure investment group has about US$ 6 billion in assets under management.

SAFE Grants Fidelity Investments QFII Quota Exceeding US$ 1 Billion

In the past, only sovereign wealth funds, central banks and other official institutions, were allowed Qualified Foreign Institutional Investor (QFII) quotas of an excess of US$ 1 billion. China’s State Administration of Foreign Exchange (SAFE) has granted Fidelity Investments Management (Hong Kong) Ltd a total quota of US$ 1.2 billion to invest in Chinese listed equities and bonds. This is the first time a foreign money manager has been granted a QFII quota exceeding US$ 1 billion.

Saudi Government Re-Orgs Public Institutional Investor Funds

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

Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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

Continue Reading

bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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

Continue Reading

Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2017 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.