Connect with us

First Quarter 2013 – Resilient Start for Direct SWF Transactions

Published

on

First quarter data of 2013 from the Sovereign Wealth Fund Transaction Database (SWFTD) has been tabulated. During the first quarter of 2013, direct sovereign fund transactions totaled US$ 14.8 billion. This is an incremental increase of 2.06% compared to the first quarter of 2012. As 2013 progresses, the first quarter number should experience a positive revision. Sovereign wealth funds entered a high number of direct market transactions stemming from the fourth quarter of 2012 till the end of the first quarter of 2013.

This illustrates sovereign funds played a role in the increased price growth in global public equity markets.

Total Direct Sovereign Wealth Fund Investment Activity Per Quarter Click on image to enlarge
sovereign_wealth_fund_dt_may2013_qtr
Source: Sovereign Wealth Fund Transaction Database – Latest database statistics of 5/19/2013

Direct investments in U.K. public equities increased from the fourth quarter of 2012. There continues to be stable investment in U.S. equities, directly from sovereign funds over the past six quarters.

Core real estate is a popular direct investment choice for sovereign funds. Some notable first quarter 2013 deals include Norway’s Government Pension Fund Global (GPFG) buying a 49.9% stake in five office properties in the United States through a joint venture with TIAA-CREFF. The real assets were valued at US$ 1.2 billion. The Abu Dhabi Investment Authority purchased an office at 90 boulevard Pasteur owned by Credit Agricole for € 250 million.

Direct Investments by Notable Sectors – Billions USD

Period Financials Real Estate and Infrastructure Information Technology
Q3 Y2012 1.09 5.16 1.68
Q4 Y2012 4.68 8.92 0.77
Q1 Y2013 1.63 4.50 0.72

Source: Sovereign Wealth Fund Transaction Database – Latest database statistics of 5/19/2013

Data for the second quarter of 2013 presents an increase in sovereign fund participation in private equity buyouts and initial public offerings.

The Sovereign Wealth Fund Transaction Database is available online for database subscribers. Transaction data can now be accessed on a more frequent basis. The SWFTD now contains over 5,000 recorded transactions.

  • Online, Convenient Access
  • Access Top Ten Lists
  • Time-Series Charts, Data Tables and Graphs
  • Filter Searches
  • Data Guides

Access Online Website – SWFTD

Demo video: Sovereign Wealth Fund Transaction Database

SWFI First Read, December 13, 2018

Published

on

Turkey Wealth Fund Could Tap Debt Markets in 2019

Turkiye Varlik Fonu or Turkey Wealth Fund could be issuing a large bond in 2019. The loan would most likely be short term in nature with a maturity of two years and be syndicated.

Rahm Emanuel Suggests Bonds to Help Support Chicago Pensions

The outgoing Chicago Mayor Rahm Emanuel revealed a plan on possibly issuing US$ 10 billion in bonds in funding Chicago’s underfunded pension funds. Chicago’s four pension funds have an average funding ratio of 26%. In March 2016, the Illinois Supreme Court ruled an earlier pension reform law effecting employees and laborers’ pension funds that was signed by then Illinois Governor Pat Quinn that the law was unconstitutional.

SoftBank and Alibaba Back PT Tokopedia

PT Tokopedia is an Indonesian generalist e-commerce site. Tokopedia raised US$ 1.1 billion in an investment round led by the SoftBank Vision Fund and Alibaba Group. Softbank Ventures Korea and other investors participated in the round as well. William Tanuwijaya is the CEO and Co-Founder of Tokopedia.

Tikehau Capital and Total SA Form Low Carbon Fund

Tikehau Capital and Total SA created a private equity fund to focus on supporting the energy transition to cleaner sources of energy. The fund held a €350 million first close and raised money from investors such as Bpifrance and Groupama as anchor investors.

Continue Reading

Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

Published

on

The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

Continue Reading

Follow the Money – Episode 48

Published

on

This long-form podcast was recorded on December 11, 2018. Michael Maduell dissects the latest geopolitical trends that can impact institutional investors such as pensions, sovereign wealth funds, and endowments. Maduell lends his opinion on the lawsuit of Neiman Marcus and bumps in the road for augmented reality.

Download the Episode

CONTENTS
1:15 Huawei, Canada, Brexit, and Macron Headache
6:30 Sovereign Wealth Fund Asset Allocation
9:58 India Gets a New Central Bank Governor
13:26 Pensions Go Bust on U.S. Retailers
17:04 Augmented Reality and Sovereign Funds
22:00 Former CalPERS CIO Goes to Morgan Stanley Investment Management
24:30 Oman Investment Fund Goes on Defense in Public Markets
25:00 Japanese Scandals and Opportunities

EPISODE 48

Stream off Follow the Money

The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.