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Sovereign Wealth Fund Sports Wrap Up

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Investing in sports teams can be a strategic development investment for sovereign wealth funds and pensions. For example, the government of Qatar made an ambitious effort to turn the Gulf region into a soccer powerhouse. Qatar Sports Investments (QSI) owns football club Paris Saint-Germain and inked deals with clubs such as FC Barcelona. The government of Qatar has made major investments in football, partly due to the upcoming 2022 World Cup. Other noteworthy deals include the International Petroleum Investment Company (IPIC) backing ventures with Real Madrid. To deflate some of this news, the Korea Investment Corporation (KIC) recently shuttered plans to buy a stake in the Los Angeles Dodgers from the team’s owner Guggenheim Baseball Management.

Formula One

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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