Norway SWF CEO States Fund Objective is a High Return
Norway’s Finance Minister commented that the government will present its official view on the proposal to exclude energy listed equities from the sovereign fund’s reference index in the Autumn of 2018. There is a chance the sovereign wealth fund could invest in renewable unlisted infrastructure by mid-2019, depending on approvals.
In addition, at an annual hearing in Norwegian parliament on May 4, 4018, Yngve Slyngstad, CEO of Norges Bank Investment Management stated, “We manage the financial wealth of future generations in a controlled, efficient, responsible and transparent manner. But we will never lose sight of the fact that the objective is a high return.”
Norges Bank Investment Management oversees the Norway Government Pension Fund Global.
From U.S. pension funds to asset-heavy sovereign wealth funds, Singapore is calculating that more institutional investor assets globally are being committed to the Asia region. The Monetary Authority of Singapore (MAS), Singapore’s central bank, signaled and planned to commit US$ 5 billion with locally-based fund managers who will invest in private enterprises and infrastructure projects. The beneficiaries of the mandates will be private equity and infrastructure fund managers. MAS is seeking to lure top global asset managers to Singapore and firms that have a significant footprint in Singapore could be eligible for the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
In one of the largest transactions in the French office sector, Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ), has acquired a 90,000 square meter office-building campus from Natixis, in the Greater Paris area of Saint-Denis Pleyel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
GIC Private Limited, Singapore’s sovereign wealth fund, has entered into a 50:50 joint venture with Raffles City China Investment Partners III (RCCIP III), a fund controlled by CapitaLand. The joint venture is acquiring Shanghai’s tallest twin towers for an aggregate consideration of RMB 12.8 billion (US$ 1.84 billion). The property is located in Shanghai’s core Central Business District.
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