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SWFI First Read, May 23, 2017

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Ping An Insurance Leads Series A in Huya

China Ping An Insurance Overseas (Holdings) Ltd., a unit of Ping An Insurance, led a US$ 75 million Series A round in Huya. Huya is a live-video streaming platform owned by YY Inc, a Chinese listed social networking platform. Other investors in the round include Engage Capital, Banyan Capital, Morningside Venture Capital, Huya CEO Dong Rongjie, YY Inc Chairman David Li. Huya was founded in 2014.

Sunsuper and State Super Exits LBC Tank Terminals

Ardian inked a deal to acquire a 35% stake in LBC Tank Terminals from Sunsuper and State Super, exiting from their investment. APG Investment Management and PGGM will retain their stakes in LBC Tank Terminals.

Commerz Real Buys Seattle Facebook Office

German fund manager Commerz Real, on behalf of its open-ended fund HausInvest, acquired Facebook’s office building in Seattle known as the Dexter Station building, for US$ 286 million. Investing alongside Commerz Real is RFR Group. RFR Group will manage the property. The seller of Dexter Station was Stockbridge Capital Group.

Samruk-Kazyna Seeks to Borrow $3 Billion from CDB

Samruk-Kazyna has plans to borrow US$ 3 billion from the China Development Bank (CDB). The borrowing could be completed by June 2017.

HSBC Global Asset Management Hires for Responsible Investment Intrigue

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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