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Hedge Funds Peak Sovereign Wealth Fund Interest

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The short-lived evolution of the hedge fund industry in the past twenty years has been a boon to hedge fund managers. From being a private pool of high net worth capital to becoming an asset class suitable for institutional capital, the industry and its participants have augmented greatly in assets and wealth. From an investor viewpoint, hedge funds are an expensive asset class to invest in. Despite the setback in 2008, hedge funds remain a key interest for a swath of sovereign wealth funds and public investors. Generally speaking, sovereign wealth funds like the Abu Dhabi Investment Authority (ADIA) are long-term in nature; this is a powerful attribute for an investor in hedge funds.

Hedge funds that follow a long-term strategy can benefit from having sovereign funds as investors.

2013 and Beyond
The type of sovereign wealth fund to invest in hedge funds includes one where capital preservation is not the highest priority. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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