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Friday SWFI News Roundup, September 19, 2014

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Scotland Votes “No” for Independence

According to the BBC, results for Scottish independence from the United Kingdom show that 55.3% of the people voted “NO”. 44.7% of people voted “YES” for Scottish independence. The question remains if there will ever be a Scottish sovereign wealth fund.

Institutional Capital Moves into Mexico for Energy

Sierra Oil & Gas S. de R.L. de C.V. , Mexico’s first independent exploration and production, has raised equity commitments of US$ 525 million. The Mexico City based company raised money from EnCap Investments and firms Riverstone Holdings LLC, each committing US$ 225 million. Infraestructura Institucional (I2), Mexico’s largest infrastructure private equity firm has committed US$ 75 million. The company is headed by Ivan Sandrea and has assembled a team of executives from Statoil, BP, OPEC and Energy Intelligence.

Texas Teacher Retirement System Allocates US$ 765 Million to Real Asset Opportunities

Real Estate and Infrastructure Allocations

Fund/Vehicle Name Manager Allocation
Morgan Stanley (MS) Infrastructure II Morgan Stanley Infrastructure US$ 250 million
Morgan Stanley Infrastructure Sidecar II Morgan Stanley Infrastructure US$ 100 million
CBRE Strategic Partners U.S. Value 7 CBRE Global Investors US$ 200 million
Grosvenor 2014-2 RE Investment Series Grosvenor Capital Management US$ 100 million
U.K. Co-Invest Starwood Capital Group US$ 50 million
Meadow Real Estate Fund III Meadow Partners US$ 40 million
Savanna Real Estate Fund III   US$ 25 million

 

Texas Teacher Retirement System Allocates US$ 1.1 Billion to 9 PE Opportunities

The Texas Teacher Retirement System has allocated US$ 1.1 billion to 9 private equity opportunities.

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

Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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