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REVEALED: Sustained Low Oil Prices May Prompt Larger Sovereign Fund Selloff

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Over the past two decades, sovereign wealth funds, once obscure state funds, have moved closer to center stage as a prominent institutional investor class in terms of assets under management, investor style and asset diversification. In total, wealth funds have amassed more than US$ 7 trillion in assets, having less than a trillion before June 2001. These assets are reflected in many forms of investments such as Treasuries to public stock holdings, real estate and all the way down to life insurance policies. The rapid climb of sovereign wealth assets was stimulated by high oil prices, positive investment returns, quantitative easing policies and excess current account surpluses.

Two years ago, the cracks started to appear. Sovereign investors were confident in their ability to invest and acquire large illiquid assets.

REVEALED: According to SWFI research, in effect, about US$ 213.37 billion worth of listed equities were sold or exited by sovereign funds during the 2015 year.

This brief report will discuss, past, current and forecasted flows of listed equities in regard to the sovereign wealth fund universe. If oil prices remain the same, how much will sovereign wealth funds selloff?

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Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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