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Public Investors’ Tepid Embrace of Emerging Managers

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sovereignwealth_transactionsAllocating capital to emerging managers is time consuming, but the possibility to find new, innovative asset managers is forcing public investors to reassess their current allocation. In some instances, emerging managers are at the forefront of innovative investment vehicles, capitalizing on specific themes, industries or trends. In the last few years, energy funds enjoyed popularity from sovereign wealth funds and public pensions. For example, in early February 2012, the China Investment Corporation (CIC) invested in a minority stake in EIG Global Energy Partners.

Why emerging managers?
Emerging managers tend to be entrepreneurial. With a flat management structure, the absence of bureaucracy enables agility and quick response in regard to organizational and business decisions. In addition, compensation schemes at emerging managers tend to have superior alignment of personal, professional and economic interests.

Public investors must utilize industry contacts, conferences and other channels to access promising managers.

Not all public investors have been triumphant with emerging managers; it has been a learning experience. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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