Connect with us

SWFI First Read, August 29, 2016

Published

on

Easier to Look for Pokemon Says Invest AD’s Sachin Mohindra

In an August 24, 2016 interview on Bloomberg Markets Middle East, Sachin Mohindra, Senior Vice President at Invest AD, said that it is “easier to look for Pokemon, than to look for yields.”

Mohindra discussed Invest AD’s allocation to Saudi Arabian equities and has invested in companies that will benefit from Saudi Arabia’s long-term structural reforms.

Big Foreign Asset Owners Lineup for IndoSpace

Singapore’s GIC Private Limited, Temasek Holdings, Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB) are in discussions of investing in Indospace, an Indian industrial and logistics real estate development platform. IndoSpace is a massive US$ 2 billion private real estate investment trust (REIT) joint venture between Everstone Group and U.S.-based Realterm. Citibank is the financial advisor for Indospace on the transaction. IndoSpace’s property portfolio nests 17 industrial and logistics park projects under operation and development across Mumbai, Pune, the National Capital Region (NCR), Bengaluru and Chennai. Some of Indospace’s tenants are Kubota, Ericsson, Bosch, Delphi, Amazon, L’Oreal, Procter and Gamble and Caterpillar.

Citadel Names Former BlackRock Global Head of Securities Lending for COO Role at Surveyor Capital

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

GIC Supports CapitaLand Shanghai Investment on Haimen Road

Published

on

GIC Private Limited, Singapore’s sovereign wealth fund, has entered into a 50:50 joint venture with Raffles City China Investment Partners III (RCCIP III), a fund controlled by CapitaLand. The joint venture is acquiring Shanghai’s tallest twin towers for an aggregate consideration of RMB 12.8 billion (US$ 1.84 billion). The property is located in Shanghai’s core Central Business District.

Development Details

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

Continue Reading

Wells Fargo Could be Slimming Down, Possible Retirement Unit Sale

Published

on

Wells Fargo (WFC) is looking to exit the retirement plan servicing market, for a potential sale price of US$ 1 billion. The unit is involved in record-keeping, custody, trust details and various other retirement plan services for corporations. It is housed under the Wealth and Investment Management unit. The retirement plan servicing market is not particularly compelling for the bank, especially in light of the U.S. Department of Labor’s newer regulations to force managers to disclose compensation arrangements and fees to plan fiduciaries. Wells Fargo has been lauded for its loyal consumer base and high revenue, and doesn’t require the business, though recent scandals have been a drag on the company’s profitability and public image. This news has pre-empted some advisors to jump ship. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Mubadala Petroleum Signs Deal to Buy Interest in Nour North Sinai Offshore Area Concession

Published

on

Mubadala Petroleum, a division of Mubadala Investment Company, signed a deal to acquire a 20% percent participating interest in Egypt’s Nour North Sinai Offshore Area concession. The seller of the interest is a subsidiary of the Italian energy giant Eni. Eni holds an 85% stake in the partnership with Tharwa Petroleum Company, which holds a 15 percent interest. Formed in 2004, Tharwa Petroleum Company is 100% owned by the Egyptian government through a variety of state-owned entities such as the Egyptian General Petroleum Corporation (EGPC) at 20% and Egyptian National Gas Holding Company (EGAS) at 20%.

The sales transaction is subject to conditions, such as approval from government authorities in Egypt.

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.