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World Ocean Council Looking to Engage Investors

The World Ocean Council, a registered not-for-profit organization, issued a press release on May 1, 2016. World Ocean Council CEO Paul Holthus participated as a panelist at SWFI’s Institute Fund Summit 2016 Asia in Singapore.

Link to release

The press release states, “In the keynote interview at the Sovereign Wealth Fund Institute Summit (SWFI) – Singapore, 24-25 April, 2016 – the World Ocean Council (WOC) CEO, Paul Holthus, described for institutional investors the opportunities for investing in responsible ocean economic development.

Holthus provided an overview of the ocean economy and recent trends for wealth fund operators and asset managers during the interview conducted by Jacques Demers, Managing Partner of Agawa Partners and Agawa Fund Management. He highlighted the opportunities for long term investment in key sectors, including port infrastructure development and adaptation, sustainable fisheries and aquaculture, offshore renewable energy and other areas.

Carl Linaburg, Chairman of the Sovereign Wealth Fund Institute, said, “Our Institute has been actively supporting and conducting research into the potential for fiduciary institutional investors to pursue ocean focused investment opportunities. Paul’s introduction, at our Asia Institute Summit, of both the World Ocean Council and the range and scale of potential ocean related investment opportunities was a serious “eye-opener” that our members and participants fully welcomed and appreciated”.

The plans for the WOC “Ocean Investment Platform” were outlined to the SWFI Summit participants. The platform development follows on from the Sustainable Ocean Summit (SOS) 2015 session on “Investment and innovation for ocean sustainable development”. The WOC “Ocean Investment Platform” will provide a global structure and process to bring the investment community together with major ocean use companies and the companies providing the technology and solutions for ocean sustainable development challenges.

The platform will be a forum to identify, articulate and evaluate ocean industry opportunities for investment in responsible ocean development. Through this, and collaboration with other forward-thinking platforms such as the Sovereign Wealth Fund Institute, the WOC will facilitate synergies and economies of scale among investors and the ocean business community as a way to accelerate ocean sustainable development.”

Harvard Agrees, Moves RE Team to Bain Capital

Harvard Management Company (HMC), the in-house investment unit of the endowment, agreed to spin out its real estate unit to Bain Capital. 22 HMC employees will join the new unit called Bain Capital Real Estate, which oversees Harvard’s US$ 3.4 billion real estate investments. SWFI research reported on the discussions earlier regarding this deal.

HMC has been looking to streamline operations and reduce investment staff headcount.

Harvard-Bain-Government Connections

Bain Capital has a quite a bit of Harvard alumni. Joshua Bekenstein and Stephen Pagliuca, co-Chairs of Bain Capital, are graduates of Harvard Business School. Pagliuca was a Democratic candidate for the U.S. Senate. Jonathan Lavine, co-Managing Partner of Bain Capital, is a graduate of Harvard Business School. Furthermore, Mitt Romney, the former Governor of Massachusetts and Republican presidential candidate in 2012, was a founder of Bain Capital. Former Massachusetts Governor Deval Patrick joined Bain Capital in 2015 and is a managing director of the Double Impact business. Patrick earned both his BA and JD from Harvard.

Why Bain Capital?

Why didn’t HMC seek to partner with an asset manager total focused in real estate such as Heitman, Hines or CBRE Global Investors? [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CPPIB Gets Direct Exposure to Brazilian Renewables with Votorantim Energia

The Canada Pension Plan Investment Board (CPPIB) and São Paulo-based Votorantim Energia Ltda., the energy subsidiary of Brazil’s Votorantim Group, inked a deal to create a new joint venture focusing on investments and developments in the Brazilian power generation sector. CPPIB is making a bet on the Brazilian power generation market with a focus on renewable energy. Votorantim Energia has been trying to find institutional investor partners to expand its efforts, aiming to reach out to sovereign funds like GIC Private Limited and other large asset owners in North America.

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Danica Pension Eyes Market Leader PFA with US$ 1 Billion SEB Takeover

Danica Pension, Denmark’s second largest commercial pension fund, has struck a deal to take over the Danish pension assets of Sweden’s SEB, putting itself in position to challenge current market leader PFA. Set to close in the first half of 2018 upon regulatory approval, the transaction will bring the Danske Bank subsidiary some 200,000 new pensioners for a customer base of 800,000, and raise its total assets under management to around US$ 86.8 billion. These figures put it nearly on par with PFA, which manages approximately US$ 96.3 billion in assets for some 1.2 million Danish pensioners.

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