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Top 10 Largest Sovereign Wealth Fund Direct Deals for 2014

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According to SWFI’s proprietary Sovereign Wealth Fund Transaction Database, Asian and Gulf-based sovereign wealth funds are the biggest SWF spenders when it comes to private direct deals in 2014. Other notable public institutional investors who rank near the top, based on transaction value, include Caisse de dépôt et placement du Québec (CDPQ) and Canada Pension Plan Investment Board (CPPIB). The crown, however, goes to Singapore’s Temasek Holdings for participating in the largest direct sovereign wealth fund transaction in 2014. The Singaporean sovereign fund invested US$ 5.7 billion for a 25% stake in A.S. Watson. The health and beauty retailer is owned by Hutchinson Whampoa Limited. Other major direct transactions include Singapore’s GIC investment in Chicago-based IndCor Properties, picking up a 45% stake from funds affiliated with Blackstone Real Estate Partners VI & VII. 4 out of the top 10 direct transactions had a real estate component to them. For 2014, over US$ 5 billion has been spent on direct United Kingdom real estate properties from sovereign wealth funds.

Sovereign wealth funds center on venture capital and growth equity, investing in the world’s largest startups.

Sovereign Wealth Funds and Startups

The Qatar Investment Authority (QIA) invested big in the UK. The Gulf-based sovereign wealth fund invested in Brookfield Property Partners and bought 8 Canada Square (HSBC Tower).

Another noteworthy trend is the amount of sovereign wealth funds investing in later rounds in venture capital startups. Sovereign wealth funds center on venture capital and growth equity, investing in the world’s largest startups. For example, GIC invested in smartphone maker Xiaomi, Qatar Investment Authority made a late round investment in Uber, New Zealand Superannuation invested in Bloom Energy and Temasek invested in e-commerce company Flipkart. With Xiaomi’s latest capital raise, the Chinese smartphone company has become the most valuable startup, surpassing Uber at a pegged valuation of US$ 45 billion.

sovereign wealth fund dealsSome of the financial advisors participating in the top 10 direct sovereign wealth fund deals of 2014 include the following firms (not a complete list): Jones Lang LaSalle, Bank of America Merrill Lynch, Goldman Sachs, HSBC, DBS Bank, Barclays, Lazard, Citigroup, Rothschild and RBC Capital Markets.

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Top 10 Largest Sovereign Wealth Fund Direct Deals for 2014

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Source: Sovereign Wealth Fund Transaction Database, extracted December 29, 2014
Note: This leaves out fund investments and open market transactions. Public pensions are not included. For more fields to view, your organization must have subscription access.

Youtube is Crashing

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Youtube, a video service of Google, is crashing. Institutional investors are major investors in Alphabet, the parent company of Google.

At 6:41 PM on October 16, 2018, Team YouTube tweeted, “Thanks for your reports about YouTube, YouTube TV and YouTube Music access issues. We’re working on resolving this and will let you know once fixed. We apologize for any inconvenience this may cause and will keep you updated.”

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Investors Eye Tencent’s Next Moves

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Formed in Shenzhen in 1998, Chinese tech giant Tencent Holdings Limited is the largest gaming company in the world and the largest gaming market is in China. In August 2018, China’s Education Ministry disclosed its monitoring how many new games are coming online. Tencent needs approval from the Chinese government to publish games. In 2017, almost 9,000 games were approved in China compared to only 1,931 in 2018. Chinese President Xi Jinping is keen on combating shortsightedness in children from the overuse of video games.

Anime

Tencent will inject US$ $317.6 million into Chinese streaming site Bilibili in return for 12.3 % equity in the company. Bilibili is a video sharing site known for streaming anime, comics, and games. Tencent’s investment follows previous funding rounds from Tiger Global Management, Wells Fargo, JPMorgan Chase, BlackRock, and Alkeon Capital Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ireland Strategic Investment Fund Signs MoU with IFC

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The International Finance Corporation (IFC) and the Ireland Strategic Investment Fund (ISIF) inked a Memorandum of Understanding (MoU) that will initially focus on investment opportunities in the food and agriculture sector, given its strength and importance for the Irish economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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