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LEAGUE TABLES: Goldman Sachs Takes the Iron Throne for 2016

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SWFI_LeagueTables_CY2016_Jan2017_cover-sqThe Sovereign Wealth Fund Institute (SWFI), through its proprietary database, tracks direct transactions by sovereign wealth funds, pensions and other public funds. The database has a bias toward equity, real estate and infrastructure transactions and a much lower emphasis on bond deals. Combining all public investors, for calendar year 2016, transactions amounted to US$ 205.25 billion versus US$ 237.18 billion in 2015. 2015 ended up being a record year for public investor direct investments. When it comes to sovereign wealth funds, the 2016 transaction figure amounted to US$ 96.31 billion versus US$ 120.76 billion in 2015. 2016 follows the trend of a three-year decline in direct sovereign investor transactions from 2013. To be clear, 2013 was an outlier sovereign wealth fund direct transaction year, with a bias toward Norway’s Government Pension Global Fund (GPFG) acquiring many open market positions in listed equities. In addition, sovereign wealth funds expanded direct investments into the United States in 2016 by closing at US$ 30.39 billion versus US$ 24.58 billion in 2015. Drastic drops in direct transactions by sovereign investors incurred in major markets such as China and the United Kingdom.


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The report details trends on direct deals, sectors and countries.


Top Financial Advisors for 2016

For 2016, Goldman Sachs reclaimed the iron throne as the number one financial advisor for public investor direct transactions. Morgan Stanley, which placed #1 in 2015, plummeted to fifth place in 2016. JPMorgan, another financial advisor which placed #1 in 2015, dropped to #3 in 2016. Taking second place in 2016 was Credit Suisse. Other notable mentions for the year are CBRE, Barclays, Deutsche Bank, Macquarie, Citigroup, Bank of America Merrill Lynch, Eastdil Secured and HSBC.

Legal Advisors

For calendar year 2016, the top legal advisor for public fund transactions was Linklaters, displacing the previous top contenders, Clifford Chance and Torys. Torys did not even rank in the top four for 2016. Clifford Chance fell to third in 2016, being tied with Weil Gotshal & Manges and White & Case. Tied for second place are Kirkland & Ellis and Herbert Smith Freehills.

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Sample Graphic – League Table Report

Source: SWFI – Sovereign Wealth Fund Transaction Database – www.swftransaction.com, January 16, 2017

NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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