Connect with us

SWFI First Read, August 8, 2017

Published

on

EDBI Participates in iflix Investment Round

Kuala Lumpur-based iflix Sdn. Berhad, a subscription video service like Netflix, raised US$ 133 million in funding. This round was led by Hearst. Other investors in the round include clients of DBS private bank and EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board. Existing backers of iflix participated as well including Catcha Group, Liberty Global, Jungle Ventures, PLDT Inc., Sky PLC and Evolution Media.

GIC Sells Down Stake in China Jinmao Holdings Group

On August 1, 2017, Singapore’s GIC Private Limited sold 15 million shares of China Jinmao Holdings Group Ltd., a real estate development subsidiary of Sinochem Corporation, at an average price per share of HK$ 3.595. GIC’s ownership in Jinmao Holdings went from 6.05% down to 5.91%.

Varma Mutual Pension Insurance Company Sells a Finnish Apartment Portfolio to Barings Real Estate Advisers

Barings Real Estate Advisers acquired seven Finnish apartment properties from Finland-based Varma Mutual Pension Insurance Company for €43 million. The properties are located in the cities of Tampere, Turku, Espoo and Lahti.

Clean Energy Finance Corporation Lends Capital to Adelaide Student Housing Development

Blue Sky Private Real Estate, part of Blue Sky Alternative Investments Limited, and Goldman Sachs have a joint venture that owns a 428-bed student housing tower in Adelaide, Australia. The JV got a US$ 32 million loan from Clean Energy Finance Corporation to assist in making the building energy-efficient. The student housing property will be managed by Altira Student Living.

Nigeria Sovereign Investment Authority Participates in President Fertilizer Program

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

Saudi Aramco Contemplates SABIC Stake from PIF

Published

on

Oil giant Saudi Aramco is in early discussions on whether to pursue an ownership stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF). At the moment, Saudi Aramco has no plans to buy publicly-held shares of SABIC. SABIC was founded in 1976 by Saudi royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers.

Continue Reading

SWFI First Read, July 19, 2018

Published

on

GIC Eyes Provenance Land

GIC Private Limited is nearing a deal to purchase up to 50% of Provenance Land. Provenance Land owns India’s first Four Seasons hotel.

Eduard van Gelderen Leaves UC Regents for PSP Investments CIO Role

Eduard van Gelderen exited his position as Senior Managing Director at the University of California Regents’ Office of the Chief Investment Officer. His role will not be replaced. He accepted an offer to be Chief Investment Officer of the Public Sector Pension Investment Board (PSP Investments).

PAAMCO Prisma Holdings CEOs to Exit

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

Continue Reading

Google Fined Big Time by EU Regarding Antitrust Violations

Published

on

The European Union (EU), through its competition commissioner, levied a €4.34 billion fine against Alphabet Inc., the owner of Google. The fine is over Google having “imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search,” according to the European Commission (EC).

The European Commission is requiring Alphabet to cease from its conduct that it is accused of within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

Commissioner Margrethe Vestager, in charge of competition policy, said in a press release, “Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules.”

The EC press release added, “In particular, Google: 1. has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); 2. made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and 3. has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).”

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.