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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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Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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