Connect with us

SWFI First Read, February 8, 2018

Published

on

PSP Investments Names New CEO, Bourbonnais Departs for BlackRock

The Board of Directors of the Public Sector Pension Investment Board (PSP Investments) announced that effective immediately, Neil Cunningham has been appointed President and Chief Executive Officer of PSP Investments. Prior to this appointment, Cunningham was Senior Vice President, Global Head of Real Estate and Natural Resources at PSP Investments. Cunningham replaces André Bourbonnais who is leaving PSP Investments and joining BlackRock to lead a new group within BlackRock Alternative Investors.

BlackRock Seeks to Raise US$ 10 Billion Buy-and-Hold Fund

BlackRock wants to play in the longer fund lifecycle market, competing against firms like CVC Capital Partners, Blackstone Group and Carlyle Group. BlackRock is seeking to raise a US$ 10 billion fund, a sort of long-term private capital fund, to buy and hold positions in companies for the long-term, something many sovereign funds and major private equity firms already do.

Goldman Sachs Research Sends Warning Bell on Alt Coins

Steve Strongin, Global Head of Investment Research at Goldman Sachs, issued a February 5, 2018 report essentially making the case that the majority of digital currencies are unlikely to survive in their current form. Strongin then informs the reader that investors should prepare for coins to lose all their value due to being replaced by a smaller group of future competitors.

Cleco to Acquire Louisiana Power Plant Assets from NRG Energy

NRG Energy Inc., now being led by the forces of hedge fund billionaire Paul Singer, is selling off assets and companies to focus on its core business. In one transaction, NRG Energy is selling power plants in Louisiana to Cleco Corporate Holdings LLC for US$ 1 billion. Cleco is buying NRG South Central Generating LLC (South Central), a subsidiary of NRG Energy. Goldman Sachs Group Inc. and Morgan Stanley are co-lead financial advisers for NRG Energy on the sale to Cleco. bcIMC is an minority investor in Cleco Corporate Holdings LLC.

CIC Eyes Rio Tinto’s Australian Coal Assets

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

Scatec Solar Places Big Solar Bet in Bangladesh

Published

on

Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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

Continue Reading

APFC Sells $1.4 Billion Stake in Simpson Housing

Published

on

The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

ISIF Invests in Cybersecurity Firm Vectra

Published

on

The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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.