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Friday SWFI News Roundup, November 28, 2014

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Khazanah Eyes Spanish Infrastructure

Malaysian sovereign wealth fund Khazanah Nasional is in talks to acquire a company, 50% owned by Spanish construction group Fomento de Construcciones y Contratas (FCC) and 50% owned by Bankia, a nationalized Spanish savings bank. The joint venture company is Madrid-based Globalvia Infraestructuras S.A.

Nice Hedge Fund: Tepper Gives Money Back to Investors

David Tepper, hedge fund manager of New Jersey-based Appaloosa Management LP, is planning to return around US$ 2 or US$ 4 billion, 10% to 20% of client assets, back to his investors by the end of 2014. Appaloosa has approximately US$ 20 billion in assets under management. The flagship fund is called the Palomino Fund. In some circumstances, in a low-yield world, hedge funds return money back to investors to boost return rates.

Direct Lending Fund Raises €850 Million

Alcentra has raised €850 million for its first pan-European lending fund, Alcentra European Direct Lending Fund. Alcentra, part of BNY Mellon, is seeking to provide capital to mid-market European companies. European banks face balance sheet constraints and the growth of non-bank lenders in Europe is increasing.

OTPP and PSP Investments Try to Complete Telesat Deal

Ontario Teachers’ Pension Plan (OTPP) and Public Sector Pension Investment Board (PSP Investments) are close to a US$ 7 billion deal for Canadian satellite company Telesat Holdings Inc. The pension funds are seeking to acquire Loral Space & Communications Inc. which owns 63% of Telesat for around US$ 85 per share. PSP Investments already owns 37% of Telesat.

APG and Aberdeen Buy Mega European Portfolio of Real Assets

APG and Aberdeen Asset Management have bought a portfolio of assets in the United Kingdom and Europe. There are 16 operational properties in the portfolio. These were sold by infrastructure fund manager DIF. Aberdeen will manage the assets for APG. Pinsent Masons was the legal advisor for Aberdeen Asset Management.

Healthpoint and Manchester City Strike a Deal

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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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