Deals

GIC and Temasek Sell Stakes in Dufry to HNA Group

HNA Group, the Chinese conglomerate that owns properties and overseas company stakes, finalized a deal to purchase a 16.2% ownership stake in Dufry AG, a Swiss-based airport retailer. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Dubai Aerospace Enterprise Finalizes AWAS Deal

Dubai Aerospace Enterprise (DAE) has acquired Dublin-based AWAS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


MassMutual Sells Asia Unit to Yunfeng Financial Led Group

Massachusetts Mutual Life Insurance Company (MassMutual) is selling its Hong Kong business, MassMutual Asia Ltd., to an investor group led by Yunfeng Financial Group Ltd. for US$ 1.68 billion (HK$ 13 billion) in a cash and stock deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


doha sovereign wealth fund

QIA Direct Equity Ownership in Credit Suisse Falls Below 5%

Qatar Sheikh Abdullah bin Mohamed bin Saud al-Thani, who heads the Qatar Investment Authority (QIA), explained in the Lusail paper that, “We have just completed a tour of several countries around the world and you will hear about significant investments soon.” The QIA reduced its direct share position in Credit Suisse from 5.01% back down […]


SWFI First Read, August 12, 2017

SoundCloud Gets Lifeline from Temasek and Raine Group SoundCloud received lifeline capital from Temasek Holdings and Raine Group. SoundCloud is a music streaming service. The company had laid off 40% of its workforce, some 173 employees, in July 2017. It is rumored that the investment totaled €144 million. Investors Hungry for Tesla Unsecured Bonds Tesla […]


Harrods Bank Sold to Online Lender Tandem

The Qatar Investment Authority (QIA), through Qatar Holding, owns luxury department store Harrods, which ultimately owns Harrods Bank. Formed in 1893, Harrods Bank, which has its own independent banking license, was 100% sold to Tandem Money Limited (Tandem), an online bank. The deal was rumored to be worth around £80 million. Harrods Bank will operate […]


SLOW WALK: Mubadala Sells More of AMD

Abu Dhabi-based Mubadala Investment Company has sold a 3.9% ownership stake, 40 million shares, in Advanced Micro Devices (AMD). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Gulf Japan Food Fund Backs Yamanote Bakery Business in UAE

In July 2017, the Gulf Japan Food Fund invested capital into Yamanote Atelier Restaurant LLC, a business focused on developing a Japanese bakery business in Dubai. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

SWFI First Read, August 4, 2017

U.S. Senate Confirms J. Christopher Giancarlo as CFTC Chairman The U.S. Senate unanimously confirmed J. Christopher Giancarlo as Chairman of the Futures Trading Commission (CFTC). Giancarlo has been the interim CFTC chairman since January 2017. The last official CFTC chairman was Timothy Massad who had resigned. In addition, the U.S. Senate also confirmed Brian Quintenz […]


turkey

Japanese Insures Lend Money to Turkish Healthcare PPP Development

Nippon Life Insurance Company made a US$ 158 million loan to an overseas healthcare infrastructure project in Turkey. The other Japanese insurer lending money to the project is The Dai-Ichi Life Insurance Company, Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ENTOURAGE: CPPIB and GIC Invest in WME Agency

Asset owners have been putting money to work in the talent agency business. For example, TPG Capital in 2015, owned more than 50% of Creative Artists Agency LLC. WME | IMG (WME), a U.S. talent agency with ties to the entertainment, sports and fashion segments, received a roughly US$ 1 billion investment from Singapore’s GIC […]


Temasek Invests in Stone Island Clothing Company Parent

Singapore’s Temasek Holdings moved to purchase a 30% ownership stake in Sportswear Company S.p.A., the parent company of Stone Island, a fashion company. A select portion of the money will be used to expand international expansion for the men’s wear label.


India deals

ADIA Gets Behind Indian Private Security Company

In the past two years, the Abu Dhabi Investment Authority (ADIA) has been backing a wide range of Indian private companies going public. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CDPQ Helps Back Cogec Communications MetroCast Deal

On July 10, 2017, Atlantic Broadband, a subsidiary of Cogeco Communications Inc., signed a deal to acquire all of the cable systems operating under the MetroCast brand name from Harron Communications, L.P. for US$ 1.4 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


1st Place Tie for Goldman Sachs and Bank of America for 1H 2017 PI Dealmakers

Bank of America Merrill Lynch and Goldman Sachs tied for first place in the public institutional investor transaction database for the first half of 2017 for financial advisors. SWFI’s public investor database tracks direct deals and transactions made by institutional investors such as sovereign wealth funds and public pensions. Both firms reached 10 deals each […]


Simpson Thacher Takes First for 1H 2017 PI Legal Advisor

Simpson Thacher & Bartlett LLP (Simpson Thacher) took first place in the public institutional investor transaction database for the first half of 2017 for legal advisors. SWFI’s public investor database tracks direct deals and transactions made by institutional investors such as sovereign wealth funds and public pensions. Simpson Thacher was involved in numerous transactions with […]


Schlumberger to Acquire a Majority Interest in Eurasia Drilling Company

Schlumberger Limited has agreed to acquire a majority 51% equity interest in Eurasia Drilling Company Limited, a Russian-based onshore and offshore drilling and well services contractor. The deal is subject to approval by the Federal Antimonopoly Service of Russia (FAS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]


Khazanah Nasional Sells Small Block of CIMB Group Shares

Khazanah Nasional Berhad added some liquidity to its massive company portfolio, selling off shares in a block deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


NZ Super Studying Potential Māori Co-Investment Fund

A potential fund could be formed to see Māori organizations partner to invest in New Zealand businesses. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


MetLife to Acquire Logan Circle Partners for $250 Million

Insurance giant MetLife Inc is moving forward in buying fixed income shop Logan Circle Partners from Fortress Investment Group LLC for US$ 250 million in an all-cash deal. The transaction is expected to close by the end of 2017. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]