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SWFI First Read, February 7, 2018

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Sovereign Funds Continue to Commit to Carlyle Funds

In a fourth quarter 2017 conference call taken place on February 8, 2018, an executive at the Carlyle Group revealed that global sovereign wealth funds “just continue to take a larger share of overall commitments.” This is in context of Carlyle funds. The executive added seeing strength in fund commitments from its private client base as well.

HSBC Global Asset Management Appoints Head of Passive Fixed Income

Sebastien Faucher was appointed Head of Passive Fixed Income at HSBC Global Asset Management. This is a new position created due to client demand. Before this appointment, Faucher was Head of Index Fixed Income at at Legal & General Investment Management.

Saudi PIF Keeps Commitment to Russia

Saudi Arabia’s Public Investment Fund (PIF) allocated a US$ 10 billion commitment to invest in Russia. Already, US$ 1 billion of the allocated capital for Russia has been invested.

DOE Forecasts U.S. Exporting More Energy than Importing by 2022

According to the Energy Information Administration in its Annual Energy Outlook, which is under the U.S. Department of Energy (DOE), the United States is on track to export more energy products versus imports by 2022. If DOE’s forecast turns out to be true in 2022, it will be the first year U.S. energy exports beat imports since 1953.

Ilmarinen’s Unlisted Equities Posts Large Returns for 2017

Finnish institutional investor giant Ilmarinen posted a 7.2% return in its investment portfolio for 2017, while the asset class of unlisted equities generated a 26.8% return. The effects of Ilmarinen’s merger with Etera were realized at the start of 2018.

Norway GPFG Would Prioritize Value in Tesla Stake

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Sovereign wealth fund giant Norway Government Pension Fund Global (GPFG) is an investor in Tesla, holding a 0.48% stake at the end of 2017. GPFG owns roughly 1.4% of all globally listed company shares, minus stocks from its exclusion pool. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Anbang Insurance Set to Sell its US Luxury Portfolio

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Distressed Beijing-based holding company Anbang Insurance Group is set to sell its U.S. luxury hotel properties, which were purchased for US$ 5.5 billion from the Blackstone Group in 2016. This is a move to raise quick cash, following the firm’s seizure at the hands of the Chinese government six months ago. Bids had already been ongoing for selected properties, including the famed Essex House Hotel, overlooking Manhattan’s Central Park. The portfolio of hotels is strategically placed in geographically diverse regions, including Miami and Chicago. Anbang is looking to cash in on the properties quickly, as its properties in China are already being liquidated. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway GPFG Returns 1.8% for Second Quarter of 2018

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Norway’s Government Pension Fund Global (GPFG) returned 1.8% for the second quarter of 2018. Listed equity investments generated a 2.7% return for the period, while fixed income returned 0%. Unlisted real estate investments posted a 1.9% return for the second quarter. In addition, the Norwegian krone depreciated against the U.S. dollar during the quarter. Furthermore, 2 billion NOK was withdrawn from the fund.

“North American and European stocks had a positive development in the quarter despite the prospect of increased trade barriers. This made a positive contribution to the fund’s return,” says Trond Grande, Deputy CEO of Norges Bank Investment Management, according to the press release.

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