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 […]

Mubadala’s Telecoms Experiment in Nigeria Proves a Headache

Abu Dhabi-based Mubadala has made a number of strategic investments in markets such as Brazil and Nigeria betting on sectors that prosper with an expanding middle class. In 2008, Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria, was formed by Mubadala and Abu Dhabi-based Etisalat Group, a giant telecommunications services provider with strong […]

SWFI First Read, May 13, 2017

Standard & Poor’s Lowers Oman Credit Rating to Junk Standard & Poor’s, one of the major ratings agencies, chopped Oman’s credit rating down to BBB- from BB+ on May 12, 2017. BBB- is junk status. Progress on Proposed St. Kitts and Nevis Sovereign Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]

Nigerian Federal Government Announces Board Reconstitution for the Nigeria Sovereign Investment Authority

Nigeria’s National Economic Council (NEC), rising from its 74th session, announced the reconstitution of the Board of Directors of the Nigeria Sovereign Investment Authority (NSIA). This occurred on March 21, 2017. The new board can be viewed of NSIA’s institutional profile in SWFI.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]

SWFI First Read, February 26, 2017

Chinese Government Capital Backs is a Chinese hotel search and booking engine that was founded in 2013. Haoqiao has raised 120 million RMB (US$ 17 million) in a fresh Series B round from China Merchants Capital Investment Co. and China National SME Development Fund. This is the China National SME Development Fund’s second […]

China Railway Construction Rolls Forward on $1.85 Billion Kano Project in Nigeria

Northern Nigeria is getting additional help when it comes to transport infrastructure. The State of Kano is the second biggest industrial region in the country with the city of Kano as a key economic and regional hub. Some key industries in Kano include plastics, agricultural products, dairy products, ceramics, textile, tanning and footware. In the […]

Nigerian Sovereign Wealth Gets $250 Million from ECA

Nigeria’s National Economic Council (NEC) has approved a fresh capital injection of US$ 250 million into the country’s sovereign wealth fund – Nigeria Sovereign Investment Authority (NSIA). The money is coming from Nigeria’s Excess Crude Account. At July 20, 2016, the excess crude account had US$ 3.93 billion in assets. In total, Nigerian President Muhammadu […]

Nigeria Sovereign Investment Authority

NSIA to Form Company with GuarantCo for Infrastructure Bonds

The Nigerian government, through the Nigerian Sovereign Investment Authority (NSIA), is taking steps to create a platform where investors can invest in Nigerian infrastructure bonds, as the country faces issues luring large-capital foreign investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Ithmar Capital and NSIA Back Trans-Africa Pipeline

The Trans-African Pipeline project, an endeavor that will involve joint developing a new regional gas pipeline connecting Nigeria to Morocco, is currently slowly moving forward. The pipeline development hopes to stimulate large-scale economic growth across west Africa. In addition, the pipeline should be able to boost energy exports to continental Europe, linking Nigerian gas to […]

sovereign wealth fund pumpkin

SWFI First Read, October 31, 2016

Happy Halloween! KIC and other Korean Institutional Investors Chat About Overseas Alternative Opportunities The Korea Investment Corporation (KIC) was part of a meeting with other Korean public institutional investors, including Korea Post, to discuss oversees private market opportunities. Ares Management and Cerberus Capital Management were part of the discussion. CalSTRS Eyes Selling Large Real Estate […]

African SWF Partners with Manager for Properties and Farmland

Nigeria’s public finances have experienced a brutal beating as a collapse in oil revenues takes a toll on the government. The Nigerian government is now keen on attracting more long-term international capital into the West African country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

New Age Secures Borrowing Facility from AFC, EIG and Wealth Fund

Lagos-based Africa Finance Corporation, an international investment grade multilateral finance institution formed in 2007, is the lead arranger for an up to US$ 425 million senior mezzanine facility for New Age (African Global Energy) Limited, a privately-held oil and gas exploration, development, and production company with assets primarily across Africa. [ Content protected for Sovereign […]

Local Healthcare Investments on the Rise for Wealth Funds

As commodity wealth fund cash channels shrink due to the prolonged low prices of oil and natural gas, sovereign investors are retooling strategies to assist in economic diversification and job creation. Healthcare appears to be an attractive sector for strategic development sovereign wealth funds (SDSWF), as these institutional investors observe a sector rising due to […]

2015: Nigeria’s Foreign Reserves Fall Below $30 Billion

On December 30, 2015, the Central Bank of Nigeria’s (CBN) foreign exchange reserves stood at US$ 29.1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Sovereign Funds Eye Asian Urbanization Trend

According to a study by Brandon Fuller and Paul Romer of New York University titled, “Urbanization as Opportunity,” around 60 million to 70 million people will be added to the urban population each year for the next 30 years. Most of the rapid change is occurring in emerging markets like China, India and Nigeria. [ […]

SWFI First Read, November 1, 2015

AGAIN: Nigeria Looks to Form Bigger Infrastructure Fund Shifting economic tactics, the government of Nigeria has plans to form a US$ 25 billion infrastructure fund to navigate capital into the energy and transportation sectors. The fund could attract institutional investors both locally and internationally, even from the Nigerian Sovereign Investment Authority (NSIA) and Nigerian domestic […]

Investors Back Sub-Saharan Africa Telecom Infrastructure Fund

Johannesburg-based Convergence Partners raised one of the biggest communication technology infrastructure funds in sub-Saharan Africa – hitting more than US$ 200 million in commitments. Most of the backers were Western development institutions. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, February 20, 2015

NAMA Awards Cushman & Wakefield Corporate Finance NPL Sales Mandate Ireland’s National Asset Management Agency (NAMA) has awarded Cushman & Wakefield Corporate Finance the mandate to sell a portfolio of non-performing loans with a face value of €8.4 billion. The portfolio of non-performing loans consists of approximately 500 borrowers in both residential and commercial properties. […]

GROW: Nigeria Sovereign Investment Authority Seeks to Manage up to $5 Billion

Officials from the Nigerian Federal Government are contemplating the addition of more capital to total US$ 5 billion for the Nigeria Sovereign Investment Authority (NSIA) to manage, the entity that manages three of Nigeria’s sovereign funds. Dr. Ngozi Okonjo-Iweala, Nigeria’s Finance Minister, briefed members on the sidelines of last week’s IMF/World Bank Annual Meeting in […]

NSIA and Seven Energy Ink Deal

The Nigeria Sovereign Investment Authority (NSIA), through its gas and power funds managed on behalf of Nigeria’s Debt Management Office, has signed a commitment letter to invest at least US$ 100 million in senior secured notes issued by Nigeria-based Seven Energy International Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]