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Straumann Investor Sells a 10% Stake to Singapore’s GIC

The press release states, “Straumann Holding AG has been informed by two of its existing shareholders about a transaction involving a 10% block of registered shares. Dr h.c. Thomas Straumann, who is the major shareholder and Vice Chairman of the Board, has sold the shares to the Government of Singapore Investment Corporation Pte. Ltd. (GIC), bringing the two parties’ respective stakes to 17% and 14% of the total share capital of Straumann Holding AG.

Thomas Straumann commented: “The prevailing weak economic environment has made it necessary to reallocate funds in order to support and meet my investment commitments in other areas. My belief in the long-term future of Straumann is undiminished, and I have every confidence in its business fundamentals, people, and strategy. Straumann remains my core investment, and I fully intend to continue contributing to its direction as a principal shareholder for the long-term.”

In addition, Dr Straumann has agreed to a one-year lock-up period, during which he will not reduce his stake.

GIC has also expressed its long-term shareholder interest in the company. GIC was established in 1981 and is one of the world’s leading sovereign wealth funds. Its aim is to achieve good long-term returns for its owner, the Government of Singapore.”

Read more:Press Release

Asian Sovereign Funds Not Slowing Down on Tech Investing

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, Asian sovereign funds invested US$ 6.05 billion directly into companies and assets in the information technology sector from Jan 2017 to November 22, 2017. In a comparable time frame from Jan 2016 to November 22, 2016, this same group of Asian sovereign funds directly invested US$ 5.02 billion in the sector. These are direct investments, not fund commitments or manager allocations.

Asian sovereign funds such as GIC Private Limited, Temasek Holdings and the Korea Investment Corporation (KIC) have demonstrated bullish signals to the technology community over other sectors. GIC and Temasek have also been major investors in the private side of deals, funding a wide range of tech startups, while providing financial firepower in buyout transactions.

Some notable direct tech investments in 2017 by sovereign funds include Meituan-Dianping, SoundCloud, Nets A/S, Visma AS, Turn, Inc. and Vantiv.

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Future Fund Makes a Guardian Out of Former J.P. Morgan ANZ Chair

The Australian government has appointed Robert Priestley – current non-executive chair of J.P Morgan for Australia and New Zealand (ANZ) and a non-executive director of ASX – to serve on the Future Fund Board of Guardians for a five-year term from November 7, 2017. Priestley replaces former Morgan Stanley Australia chief executive Steven J. Harker.

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Associated British Ports Reboots Property Development Arm to Capitalize on Land Bank

Associated British Ports (ABP) – operator of 21 major ports throughout the United Kingdom – has announced a reboot of its ABP Property division, complete with a new team of specialists in commercial development and logistics led by Huw Turner, in order to identify and develop strategically significant locations in its 2,372 acre land bank.

ABP is owned in large part by a consortium of pensions and sovereign funds, including the Canada Pension Plan Investment Board (CPPIB) at 33.88% ownership, OMERS at 30%, Singapore’s GIC Ventures Pte Ltd at 20.00% ownership, and the Kuwait Investment Authority at 10.00% ownership. Large institutional investors such as sovereign funds, pensions, and endowments have slowly increased allocation towards infrastructure over the past six years as an alternative to equities and bonds, according to asset allocation data from SWFI.

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