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Sovereign Wealth Fund Scope of Direct Energy-Related Transactions

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According to the Sovereign Wealth Fund Institute’s transaction database, from the beginning of 2008 till August 2013, over US$ 76.3 billion has been directly invested in energy-related assets and companies. This illustrates the story of a five-year trend of sovereign wealth funds plowing billions into energy – betting heavily on world energy demands. The US$ 76.3 billion includes energy companies, exploration firms, utilities and energy-related infrastructure. This does not include energy-related technology companies or real estate. In addition, this aggregated transaction amount includes only direct sovereign wealth fund transactions, not fund investments. It is crucial to highlight that sovereign wealth funds are limited partners in some of the world’s highly-desired private equity energy funds.

And the winner is?

Europe appears to be the prime recipient of direct sovereign wealth fund investment in the energy sector from 2008 till August 2013 – totaling US$ 40.8 billion (254 recorded transactions). Within Europe, the United Kingdom and the rest of Western Europe receive the bulk of it. Sovereign wealth fund energy stock favorites include Royal Dutch Shell Plc, BP Plc, BG Group Plc and Total SA. Eastern Europe and Russia pocket a far less substantial amount of sovereign wealth fund investment in energy mostly through fund investments.

Direct Sovereign Wealth Fund Investments in Energy-Related Assets and Companies
Billions USD – Jan 2008 to Aug 2013
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sovereign wealth fund energy
Source: Sovereign Wealth Fund Transaction Database

North America follows Europe with US$ 11.8 billion (191 recorded transactions). Both regions prospered in direct sovereign wealth fund investments through open market transactions and negotiated deals. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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