Connect with us

New Zealand Superannuation Fund Embraces Green Streak

Published

on

Matt Whineray

Matt Whineray

Sovereign wealth funds have an eye for promising renewable energy companies – some successful, some not. The New Zealand Superannuation Fund (NZSF) invested US$ 55 million in Ogin Inc. Formerly known as FloDesign Wind Turbine Corporation, Massachusetts-based Ogin is a developer of wind turbines that utilizes aerospace technology. In its infancy, the startup received funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The US$ 8.3 million grant from ARPA-E helped with the turbine’s development.

Ogin has a difficult road ahead of them – balancing product execution with regulatory risk. In addition, potent incumbents like General Electric or Vestas are the key actors in the wind turbine industry. General Electric constructs mega wind turbines for massive wind farms. Taking a different approach, Ogin is focusing on building smaller wind turbines and placing them locally, near residential areas and campuses.

In a press release, Matt Whineray, General Manager of Investments for the NZSF stated, “We look forward to working with Ogin as it further develops its products and markets, and as it redevelops existing wind farms using its new turbines.”

Before the investment in Ogin, the NZSF invested US$ 50 million in fuel cell startup Bloom Energy. Known for the Bloom Box, Bloom Energy is backed by a laundry list of Silicon Valley venture capitalists like NEA and Kleiner Perkins Caufield & Byers. Bloom Boxes use solid oxide fuel cell technology to create energy and are used by data centers operated by Apple, Google and Microsoft. In late November, Bloom Energy hit a milestone, installing its first fuel cells in Fukuoka, Japan.

Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

Published

on

Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Guggenheim Partners Agrees to Acquire Millstein & Co.

Published

on

On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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

Continue Reading

GIC Holds Steady, Maintains Cautious Investment Stance

Published

on

Singapore’s GIC Private Limited returned a 5-year return of 6.6% ended March 31, 2018. At March 2018, GIC had increased cash and nominal bonds up 2% to 37% of the total portfolio, while lowering exposure to developed market equities from 27% to 23%.

GIC CEO Lim Chow Kiat commented in his annual letter in the FY 2017-2018 report that, “In view of the high asset valuations, the increased risk of monetary policy tightening across different jurisdictions and the elevated uncertainty, we maintain a cautious investment stance. Nevertheless, we remain ready to take advantage of potential dislocations. The jump in market volatility experienced in early 2018 offered an indication of potentially bigger market turbulence and opportunities in the future.”

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.