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Friday SWFI News Roundup, September 19, 2014

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. ]

SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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