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SWFI First Read, February 12, 2018

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Temasek Holdings Eyes Data Center Business in Australia

Singapore’s Temasek Holdings is looking at a potential deal in Nextdc Limited, a data center company that is listed in Australia.

Warren Buffett Attempts to Build Insurance Business in the Gulf

Berkshire Hathaway Specialty Insurance Co., the commercial insurance unit of Warren Buffett’s empire, is setting up shop at the Dubai International Financial Centre (DIFC). Berkshire Hathaway Specialty Insurance already has offices in cities such as Singapore, Hong Kong and Macau. The company hired Alessandro Cerase, a former American International Group (AIG) executive, to head its Dubai operations.

Kuwait Sovereign Wealth Eyes Irish Opportunities

Ireland’s Minister of State for the Diaspora and International Development Ciaran Cannon met with officials from the Kuwait Investment Authority (KIA). KIA is looking at opportunities in Ireland whether in real estate or technology.

SALIC Appoints Managing Director

Saudi Agricultural and Livestock Investment Company (SALIC) named Khaled Mohammed al-Aboodi as managing director, effective February 1, 2018. Previously, al-Aboodi was an executive at the Islamic Corporation for the Development of the Private Sector. SALIC is owned by Saudi Arabia’s Public Investment Fund (PIF).

PR Battle over CCCC International’s Takeover of Aecon

Canadian construction company Aecon Group Inc. is fighting a public relations battle over its proposed takeover by CCCC International Holding Limited for C$ 1.5 billion. CCCC International Holding made a bid in late 2017 to acquire Aecon. CCCC International Holding owns John Holland Group, an Australian construction business and Friede & Goldman, a U.S. engineering business. CCCC International is the financing platform for overseas business of China Communications Construction Company Limited.

Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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