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Effects of Utilizing Sovereign Co-Investors for Private Equity Firms

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Significant direct investment in companies is becoming a more common occurrence for sovereign investors. Sovereign funds that have typically allocated capital to private equity firms to manage are wanting in on the deals themselves. We even find special situations in where the sovereign wealth fund takes a substantial ownership stake in the private equity firm. This benefits the private equity firm by receiving governmental capital, enhancing future fund raising prospects, and increasing firm liquidity for fund management.  Earlier this year, the Kuwait Investment Authority (KIA) and the Government of Singapore Investment Corp purchased a stake in TPG.

There is a rising trend among some large sovereign wealth funds and other long-term public pensions regarding co-investing alongside private equity funds or themselves on direct company purchases. One example includes the case of Temasek Holdings that purchased a large stake in Frac Tech Holdings alongside RRJ Capital in April 2011. Together they bought a 70% stake in the Frac Tech Holdings.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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