Government of Singapore Investment Corporation

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. ]


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. ]


SWFI First Read, August 14, 2017

GIC Hires Wu Choy Peng as Technology Head Singapore’s GIC Private Limited hired Wu Choy Peng as Chief Technology Officer. Previously, she was Group Chief Information Officer at Singtel. OPTrust Invests in James Evans & Associates On July 6, 2017, OPTrust made a strategic investment in James Evans & Associates Ltd, a pension administration services […]


SWFI First Read, August 11, 2017

NRG Energy Potential Asset Sales Draws Public Fund Capital NRG Energy Inc. is unload as much as US$ 4 billion of assets in a bid to lower debt and reduce costs. Some of the assets includes NRG Energy’s stake in NRG Yield Inc., a solar and wind farm owner and operator. Prospective suitors of these […]


SWFI First Read, August 8, 2017

EDBI Participates in iflix Investment Round Kuala Lumpur-based iflix Sdn. Berhad, a subscription video service like Netflix, raised US$ 133 million in funding. This round was led by Hearst. Other investors in the round include clients of DBS private bank and EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board. Existing backers […]


Goldman Sachs Seeks to Sell Off Stake in Rothesay Life

UPDATE: August 9, 2017 The transaction has been completed. Goldman Sachs has sold its interest in Rothesay Life. Goldman Sachs is moving to sell all of its ownership in U.K. insurer Rothesay Life plc – a 32.7% stake. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC and Macquarie Make Offer for Minority Stake in EDC

Energy Development Corporation (EDC) is the biggest producer of geothermal energy in Southeast Asia. [ 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 […]


GIC Invests in Chinese P2P Lender Dianrong

Shanghai-based Dianrong has raised US$ 220 million from a group of investors led by Singapore’s GIC Private Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – July 31, 2017

Allianz Global Investors Hires Jason Green for SE Asia Institutional Side Allianz Global Investors hired Jason Green as head of institutional business for Southeast Asia. This is a new position and he will be based in Singapore. Green was Executive Director, Client Adviser of Asia Sovereign and Institutional Group at J.P. Morgan Asset Management. Koh […]


Largest Oncor Parent Creditor Seeks to Block Warren Buffett

Paul Singer’s Elliott Management Corporation, an activist hedge fund, is looking to challenge Warren Buffett’s bid on Oncor Electric Delivery Company, LLC (Oncor), a regulated transmission and distribution business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Hopu-Led Group is Preferred Bidder for Global Logistic Properties

UPDATE: July 14, 2017 GIC has officially backed the offer made from the preferred bidder group led by HOPU Investment Management. Singapore-based Global Logistic Properties Ltd. (GLP), whose largest owner is Singapore’s GIC Private Limited, selected a preferred bidder for its takeover. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


GIC Expresses Cautionary Approach for Future Investment Periods

Singapore’s GIC Private Limited recently released its annual report, embracing a cautious tone. The Singaporean wealth fund had a challenging run for its latest fiscal year in terms of performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Pension and SWF Money Fund Greystar Acquisition of Monogram Residential Trust

Greystar Growth and Income Fund, LP, a newly formed perpetual life fund, overseen by Greystar Real Estate Partners is buying out Plano, Texas-based Monogram Residential Trust, Inc., an owner, operator and developer of luxury apartment communities. The founding capital partners of Greystar Growth and Income Fund include affiliates of APG Asset Management N.V., GIC Private […]


GIC Looks to Own a Stake in Mergermarket Group

Singapore’s GIC Private Limited is looking to make a play into the world of subscription-based financial data. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GIC Invests in Visma

A group of investors including Singapore’s GIC Private Limited have acquired KKR’s stake in Visma, a Norwegian software company, for £1.4 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


With $50 Billion, Trending Slowdown in 1H Sovereign Fund Direct Investments for 2017

Source: Sovereign Wealth Fund Transaction Database As of June 28, 2017, the Sovereign Wealth Fund Institute (SWFI) can report that first half direct transactions made by sovereign wealth funds for 2017 totaled US$ 50 billion, compared to the first half of 2016 at US$ 54.17 billion and 2015 at US$ 67.3 billion. However, overall, from […]


GIC Extends Wiggle Room on Green Dragon Gas Convertibles

Singapore’s GIC Private Limited has given Green Dragon Gas Ltd. flexibility on its financing. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Money Finds its Way into AIB Float

On June 23, 2017, the Irish government raised €3.36 billion by selling roughly 25% of Allied Irish Banks, p.l.c. (AIB) shares. At May 2017, AIB is the largest retail and commercial bank in Ireland with 2.3 million retail and SME customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


tibbles

SWFI First Read, June 21, 2017

Former Shutterfly CEO Joins Vision Fund Jeffrey T. Housenbold, the former CEO of Shutterfly, Inc., has joined SoftBank Group as a senior investing member of the massive Vision Fund. Bidders Lineup for Senior Housing Business of LendLease China-based Cindat Capital Management, The Blackstone Group and GIC Private Limited are among a group of suitors for […]