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SWFI First Read, April 14, 2017

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Slight Postponement in QIA-BRF Deal for Banvit

The Qatar Investment Authority (QIA) and BRF SA’s deal to acquire Banvit Bandirma Vitaminli Yem Sanayii AS (Banvit), Turkey’s largest poultry producer, has been briefly postponed due to document and precondition issues. In a public filing, Banvit revealed paperwork wasn’t ready in time for the company’s annual general meeting. A new closing date is being worked out.

Greystar Real Estate Partners and Macquarie Make Progress on Asia-Pacific Rental Housing Platform

Charleston, South Carolina-based Greystar Real Estate Partners and Macquarie Capital had formed an Asia-Pacific rental housing platform dubbed Greystar Asia-Pac back in October 2016. Greystar Asia-Pac plans to raise institutional capital to acquire, develop, reposition and manage rental residential assets across the region with an initial focus on Shanghai, Beijing, Sydney and Melbourne. Joining the platform is Charles Ma and Chris Key as Managing Directors. Previously, Ma was Managing Director and Head of Strategic Investments and Business Development for Vanke China.

Bank of America Merrill Lynch – Brazil Names New CEO

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Japan’s GPIF Awards Nissay Asset Management with ESG Disclosure Mandate

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Increasingly asset owners across the Asia-Pacific region are studying the impacts of environmental, social, and governance factors on listed companies. As more Japanese pensions augment asset allocation to listed equities, the importance of corporate non-financial disclosures and practices becomes clear. These disclosures can have a material impression on company stock prices. In addition, Japanʼs Stewardship Code and Corporate Governance Code in 2014 and 2015 were launched, respectively. These codes helped the (environmental, social, and governance) ESG concept gain momentum in Japan.

Japan’s Government Pension Investment Fund (GPIF), the largest public pension fund in the world, awarded a research mandate to Nissay Asset Management Corporation. The mandate entails studying ESG disclosures. The study will conduct a comparable analysis on ESG standards and practices, while taking into account input from both investors and companies. With around US$ 110.5 billion in assets under management, Nissay Asset Management is owned by Japanese life insurance giant Nippon Life Insurance Company.

As GPIF boosted its allocation to domestic equities, the asset owner took a deeper look into the impact of ESG on equity investing. GPIF is keen on improving efficiencies in Japan’s capital markets. GPIF is a universal owner of stocks, similar in some aspects to what Norway’s Government Pension Fund Global (GPFG) does.

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Norges Bank Real Estate Management Buys Central Paris Property

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Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (oversees Norway Global Pension Fund Global), has signed an agreement to acquire a 100 percent interest in an office property located on 54-56 rue la Boétie in central Paris.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Schlumberger Gets Closer to Eurasia Drilling Company

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Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and American oilfield services giant Schlumberger (SLB) have planned a deal to invest in Russia’s Eurasia Drilling Company Limited. RDIF CEO Kirill Dmitriev made the announcement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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