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PGGM Gets Exposure to U.S. Residential Solar Contracts from SolarCity

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Dutch institutional investor PGGM invested €200 million into a big portfolio of SolarCity residential solar contracts. The revenue streams are linked to 38,000 U.S. homes across 21 states with solar panel installations. The combined capacity of these installations is 275 MW. SolarCity is owned by Tesla (formerly Tesla Motors). The deal gives Tesla cash up front in exchange for discounted revenue streams in a leased solar rooftop portfolio.

Tesla is in somewhat of a cash preservation mode after its acquisition of SolarCity. Tesla is seeking to reduce advertising spend for SolarCity, while selling solar products in Tesla stores.

SolarCity Model

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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