Connect with us

More Probes Into 1Malaysia Development Bhd

Published

on

goldbric

1Malaysia Development Berhad (1MDB) is a strategic development company owned by the Malaysian government whose goal is to assist in the long-term development of the country. Before 2009, there was a state-focused strategic investment fund called the Terengganu Investment Authority which received oil royalty payments. In 2009, Malaysian Prime Minister Najib Razak expanded Terengganu Investment Authority and formed it into a federal entity, renaming it 1Malaysia Development Berhad to focus on benefiting all of Malaysia. The development company had a number of goals including turning Kuala Lumpur into a key financial center and backing national economic developments. 1MDB has a board of directors which is chaired by the country’s prime minister, a board of advisors and senior management. Over the years, 1MDB forged relationships with numerous countries and heavy-weight organizations like the State Grid Corporation of China, International Petroleum Investment Company (IPIC), PetroSaudi International Limited, Abu Dhabi Future Energy Company, Qatar Investment Authority and Mubadala Development Company.

What Happened?

At the moment, 1MDB is having a challenging time repaying more than US$ 11 billion in accumulated debt. This has ensnared the attention of the press, Malaysian politics and the Malaysian prime minister. 1MDB’s deals have brought Goldman Sachs in the light again (Goldman is in a current legal battle with the Libyan Investment Authority), in which the financial advisor negotiated three of 1MDB’s bonds that total US$ 6.5 billion in 2012 and 2013, generating hefty fees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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.