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Friday SWFI News Roundup, November 4, 2016

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CICC Appears to be Near Buying China Investment Securities

After months of talks and negotiations, Beijing-based China International Capital Corporation (CICC) looks to be closer to buying Shenzhen-based China Investment Securities. China Investment Securities has around 200 retail branches throughout China. China Investment Securities is 100% owned by Central Huijin, a sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC).

Xiaozhu.com Raises $65 Million in Series D

Chinese room booking web portal Xiaozhu.com raised US$ 65 million in a Series D round from Joy Capital, Capital Today and Bertelsmann Asia Investment Fund. Another investor in the round was Heyu Capitaland Morningside Venture Capital.

State Street Global Advisors Hires Peter Brackett

State Street Global Advisors (SSgA) named Peter Brackett as head of U.K. consultant relations. Brackett was the Head of Global Consultant Relations at Amundi. Before Amundi, he working in a U.K. institutional business role for American Century Investments. Bracket also held roles at Morgan Stanley Investment Management, Aon Investments and Towers Watson.

CenturyLink Sells Data Centers to Investor Group Led by BC Partners and Medina Capital

Telecommunications company CenturyLink reached a deal to sell 57 data centers and colocation business to an investor group led by BC Partners and Florida-based Medina Capital (led by Manny Medina) for US$ $2.15 billion in cash and a minority stake to be valued at US$ 150 million in the consortium’s newly-formed global secure infrastructure company. Longview Asset Management is part of the investor group. The sales proceeds are partially funding CenturyLink’s acquisition of Level 3 Communications announced on October 31, 2016. Even though CenturyLink will not own the data centers, the telecoms giant plans to continue to offer colocation services as part of its product portfolio. The data center portfolio includes approximately 195 megawatts of power across 2.6 million square feet of raised floor capacity.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC are acting as CenturyLink’s financial advisors and Jones Walker is acting as CenturyLink’s legal advisor. LionTree Advisors acted as financial advisor to BC Partners and its consortium investors. Latham & Watkins LLP is serving as legal advisor and PricewaterhouseCoopers is serving as accounting advisor. Citigroup, JP Morgan, Barclays, Credit Suisse, Jefferies, HSBC, Macquarie and Citizens have underwritten the debt package to finance the acquisition. Greenberg Traurig served as legal advisor to Medina Capital. Vedder Price served as legal advisor to Longview Asset Management.

Principal Real Estate Investors Launches Inaugural UCITS-Compliant Real Estate Debt Fund

Principal Real Estate Investors, part of Principal Global Investors, formally launched its inaugural UCITS-compliant real estate debt fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

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The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

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Follow the Money – Episode 48

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This long-form podcast was recorded on December 11, 2018. Michael Maduell dissects the latest geopolitical trends that can impact institutional investors such as pensions, sovereign wealth funds, and endowments. Maduell lends his opinion on the lawsuit of Neiman Marcus and bumps in the road for augmented reality.

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CONTENTS
1:15 Huawei, Canada, Brexit, and Macron Headache
6:30 Sovereign Wealth Fund Asset Allocation
9:58 India Gets a New Central Bank Governor
13:26 Pensions Go Bust on U.S. Retailers
17:04 Augmented Reality and Sovereign Funds
22:00 Former CalPERS CIO Goes to Morgan Stanley Investment Management
24:30 Oman Investment Fund Goes on Defense in Public Markets
25:00 Japanese Scandals and Opportunities

EPISODE 48

Stream off Follow the Money

The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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Danica Pensions Sells Danica Pension Sweden

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Danica Pension sold Danske Pension Försikringsaktiebolag (publ) (also known as Danica Pension Sweden) to a group of investors for around 2.6 billion SEK. Danica Pension is part of Danske Bank A/S. Of the total amount, 2.3 billion SEK is being paid in cash, while the rest is in the form of a debt instrument from Danica Pension.

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

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