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Libya Protests, No Raiding Sovereign Wealth Fund

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desertLibyan Central Bank Governor Saddek Omar Ali Elkaber said that he would not be using any of the cash or assets held by Libya’s US$ 65 billion sovereign wealth fund to offset a plunge in oil production in recent months.

Governor Elkaber characterized the idea of fund raiding as “wrong” saying that internal struggles (like protests) should not be a reason to dip into the country’s large reserves. He indicated that a drop in global oil prices might be a stronger reason to do so. However, he made it clear that Libya is a long-term institutional investor, and that they would not be liquidating assets anytime soon.

According to Sovereign Wealth Fund Institute transaction data the Libyan Investment Authority (LIA) holds stock in firms such as UniCredit SpA and Wienerberger AG.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

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

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