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Ireland Moves Towards Strategic Domestic Development

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Ireland’s National Pensions Reserve Fund (NPRF) is allocating more money to domestic investments rather than overseas. This change in investment policy to invest more capital domestically stems from political and economic policy shifts. France and Italy have taken similar measures by creating strategic domestic investment funds. These strategic direct investment funds invest in companies that are deemed essential to the domestic economy. The Irish Government pulled the trigger on the creation of a Strategic Investment Fund which will be a portfolio of funds investing in select sectors of the Irish economy. Some of these areas will include infrastructure, venture capital, and financing for small and medium enterprises (SMEs). Ireland’s NTMA sought the recruitment of corporate finance advisers to identify such investments and find potential co-investors. The investments are to be sourced on a commercial basis but also be of strategic long-term significance to the Irish economy. With regards to investment in the specialized funds, the NPRF will be the cornerstone investor.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Tom Gores Wants Some Credit Game

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Traditional buyout firms are looking at building credit platforms to enhance revenue. Recently, Platinum Equity, a buyout firm run by Tom Gores that was formed in 1995, hired Michael Fabiano to help spur the formation of a credit investing division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Saudi Arabian Military Industries Forms Venture with Navantia

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State-owned Saudi Arabian Military Industries (SAMI) signed a deal with Navantia, a Spanish state-owned shipbuilding company, to form a joint venture to construct five warships – the building of five Avante 2200 Corvettes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Katara Hospitality and AccorHotels Eye Sub-Saharan Africa Hotel Market

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Katara Hospitality, a hotel operator and owner unit of the Qatar Investment Authority (QIA), and AccorHotels are taking a bet on the hotel market in sub-Saharan Africa. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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