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Real Estate Investments, More Attractive for Sovereign Wealth Funds

Data: Nov 2014, Sovereign Wealth Fund Transaction Database

Data: Nov 2014, Sovereign Wealth Fund Transaction Database

Sovereign wealth funds are plugging more money into direct real estate, even in development deals. The thirst for core properties, value-add real estate and logistics are drawing sovereign wealth funds to spend more.

According to data from the Sovereign Wealth Fund Transaction Database, sovereign wealth funds in total invested US$ 17.5 billion for the first 3 quarters of 2014 versus US$ 12.95 billion for the first 3 quarters of 2013 in direct real estate, a whopping 35.1% increase. The competition for core real estate assets is mounting in cities like New York, London, Paris and San Francisco.

Core, Industrials, Development

For example, the Alaska Permanent Fund Corporation (APFC) recently acquired a 50% interest in two shopping centers in Spain and Portugal in a €280 million transaction with Immochan. Across the Atlantic, Singapore’s GIC is leading an investor group to acquire Chicago-based IndCor Properties Inc from the Blackstone Group.

Riksbank Appoints Permanent Head of Financial Stability

Sveriges Riksbank has appointed Olof Sandstedt to lead its financial stability department on a permanent basis, effective November 14, 2017. Sandstedt has been the department’s acting head since June 7, 2017 when he took over for Kasper Roszbach, who departed Riksbank to take up a new position at Norges Bank as director of its research division.

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Mubadala Inches Closer to Invepar Ownership

Since the beginning of the year, Abu Dhabi-based Mubadala Investment Company has been looking at owning the distressed Brazilian infrastructure company Invepar SA for quite some time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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KDC’s Latest Acquisition a Breath of Fresh Air

Knowlton Development Corporation (KDC) has made its latest acquisition with the purchase of Aromair Fine Fragrance Company Inc., a U.S. subsidiary of Aromair Group that specializes in air care products, from London-based Strategic Value Partners. The terms of the transaction, which was completed on November 8, were not disclosed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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