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The Abu Dhabi Investment Authority is a Buyer of Hotels

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Michael Maduell, President - Sovereign Wealth Fund Institute

Michael Maduell, President – Sovereign Wealth Fund Institute

The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. It often buys partial interest ownerships with leading real estate managers. Gulf sovereign wealth investors are keen to hotels, especially in gateway cities. By interpreting data through the Sovereign Wealth Fund Institute’s transaction database, ADIA has been a direct investor in hotels for quite some time. For example, ADIA through a subsidiary was the majority owner of the 1,190-room Hilton San Diego Bayfront which they sold for $475 million to Sunstone Hotel Investors in mid-April 2011.

“In the range of $500 to $650 billion of sovereign wealth fund assets are allocated to real estate investments, excluding publicly-traded real estate securities,” commented Michael Maduell, President of the Sovereign Wealth Fund Institute. “According to our research and sovereign wealth fund transaction data, hotels are a strategic real estate investment for many Gulf sovereign investors.”

Australian Hotel Real Estate
The demand of Australian hotel real estate has exceeded supply as large foreign buyers seek to acquire assets near business hubs. Due in part to competition between ADIA, local investors, Asian investors and Canadian pension funds, hotel transactions have greatly increased in Australia in the past three years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mergermarket Gets Ready to be Sold

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Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

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Why Japan Post Sees Promise in Aflac

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Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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

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RDIF and Development Agency of Serbia Agree to Explore Joint Investments

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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

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