Connect with us

Institutional Investors Await Comcast-Time Warner Cable DOJ Outcome

Published

on

Institutional investors are carefully watching for a signal from regulators and antitrust officials regarding the possible merger block of cable giant Comcast Corporation and Timer Warner Cable Inc. The US$ 45 billion merger was announced in February 2014. In February 2014, Comcast Chief Financial Officer Michael Angelaki said “we are optimistic and feel comfortable” that the merger will close in early 2015. Bloomberg reported that U.S. Department of Justice (DOJ) staff attorneys in the department’s antitrust division were planning on recommending a block to the merger between Comcast and Time Warner Cable. Bloomberg’s sources are anonymous. Reportedly, DOJ attorneys working on the investigation are concerned the merger would create a “nationwide cable giant” that would hurt U.S. consumers. If the DOJ wants to block the merger, they will most likely file a federal lawsuit.

Streaming entertainment services like Netflix and Hulu have put enormous pressure on cable companies like Comcast.

Institutional Investors and Sovereign Wealth

Large institutional investors like Dodge & Cox, Wellington Management and Fidelity Investments are top ten holders of Comcast according to December 2014 filings. As of December 31, 2014, Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, possessed 36,280,000 shares of Comcast – 1.7% of shares outstanding. On April 17th, Comcast opened at US$ 59.10 per share. Assuming NBIM’s shares remained constant since December 31, 2014, the wealth fund has a US$ 2.14 billion exposure to Comcast.

SWFI First Read, June 21, 2018

Published

on

PSP Investments Nears Deal on Azelis

PSP Investments and EQT Partners (through fund EQT VIII) are in exclusive talks to acquire Belgium-based Azelis S.A. from funds managed by Apax Partners. Formed in 2001, Azelis is a specialty chemicals and food ingredients distributor. The transaction is subject to regulatory approvals.

Oxford Properties Wins Rights on Barangaroo Office Development

Melbourne-based Grocon Pty Ltd selected Oxford Properties, the real estate unit of OMERS, as a preferred partner for it’s a A$ 2 billion, 5.2-hectare Barangaroo Central project development. This is an office tower development. Oxford Properties essentially won the rights toward the project (rumored at a price of A$ 100 million), freeing the developer from a high-cost finance deal with Maxcap, a lender.

Investment Management Corporation of Ontario Selects Jean Michel as CIO

The Investment Management Corporation of Ontario named Jean Michel as chief investment officer. This role is effective July 3, 2018. Michel was executive vice president, advisory services to depositors and strategic analysis, at Caisse de Depot et Placement du Quebec (CDPQ).

Wil Warren Named President of Lexington Partners

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

Continue Reading

Large Public Asset Owners Commit to Goodman Brazil Logistics Partnership

Published

on

Canada Pension Plan Investment Board (CPPIB) unveiled plans to commit 500 million BRL (C$ 175 million) in equity for a 20% interest in the newly established Goodman Brazil Logistics Partnership to invest in prime logistics and industrial assets in the key gateway cities of São Paulo and Rio de Janeiro. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Mubadala Supports Two European Aquaculture Transactions

Published

on

Mubadala Investment Company is keen on growing exposure to agribusinesses whether in farming or aquaculture. With money from Mubadala and AMERRA Capital Management LLC, Andromeda Group acquired Nireus SA (at 74.34% stake) and Selonda SA at (79.62% stake), two European aquaculture companies that focus on sea bream and sea bass. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.