Real Estate

Norway SWF Expands Manhattan Property Empire

On August 18, 2017, Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (NBIM), acquired a 48% interest in 375 Hudson Street in New York City, in joint venture with Trinity Church Wall Street and Houston-based Hines. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


CPPIB Engages in Brazilian Portfolio Exchange with Cyrela Commercial Properties

Despite political headwinds in Brazil, the Canada Pension Plan Investment Board (CPPIB) is maintaining an opportunistic posture toward Brazilian office properties, specifically the São Paulo’s prime Faria Lima office district. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


For How Much Longer Are Sovereign Funds Expecting Lower Volatility?

Given that U.S. stock market volatility remains subdued and measures are touching new lows, some chief investment officers are growing concerned that a possible equity market correction could occur in the near term. Sovereign investors have expressed a level of unease over the flood of quantitative easing money seeping into global equity markets. These central […]


Florida SBA Acquires North San Jose Office Complex

Florida State Board of Administration (Florida SBA), through an account managed by MetLife Investments, acquired Orchard Commons office campus located in San Jose, California for US$ 105 million. Orchard Commons is a 22-acre property, consisting of six buildings, that is about 84% leased. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


CPPIB and Phoenix Hill Platform Acquire Site for Pune Retail Development

Indian developers are building out properties to the West of Pune due to growth in residential and commercial property developments. Pune is the eighth biggest city in India, with a population of 5.75 million people. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Ministry of Finance Names Commission to Study Wealth Fund Investments

Norway’s Ministry of Finance named a commission to analyze, review and assess the current management of Norway’s Government Pension Fund Global (GPFG). [ 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 […]


CalSTRS Buys Phase 3 of Silicon Valley Office Property

CBRE Global Investors, on behalf of California State Teachers’ Retirement System (CalSTRS), is investing US$ 610 million to acquire three office buildings at 3333 Scott Blvd in Santa Clara, California. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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 […]


sovereign wealth india

RMZ Seeks to Tap CPPIB and QIA for More Money on Office Platform

Indian office space builder RMZ is seeking to raise roughly US$ 1 billion to boost its office leasing business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

SWFI First Read, July 30, 2017

Former CIC Executive to Joins Neuberger Berman Bin Yu is bringing his team from CloudRidge Capital, a firm that he formed in 2014, to Neuberger Berman. Bin Yu was named a Portfolio Manager at Neuberger Berman. Bin Yu was formerly at the China Investment Corporation (CIC), running a US$ 10 billion plus global equity portfolio. […]


SWFI First Read, July 29, 2017

Sam Loughlin Out at Lone Star Funds Sam Loughlin, President of North America of Lone Star Funds has stepped down. Loughlin is being replaced by Nick Beevers. Nick Beevers joined Lone Star Funds in 2011. In the United States, Lone Star Funds is active in the non-performing mortgage space. Lone Star Funds, through its affiliated […]


ADIA-Backed 330 Madison Office Moves to Refinance

330 Madison Avenue is a 39-storey office property, totaling 849,372 square feet, in Midtown Manhattan this is owned by 330 Madison Avenue Property Owners LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ADIA Sells Central Paris Property to Norway’s SWF

On July 28, 2017, Norges Bank Real Estate Management, a real estate unit of Norges Bank Investment Management (NBIM), acquired a 100% ownership interest in 6-8 boulevard Haussmann property, located in central Paris, for €462.2 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Chinese Banks Help Underwrite CIC Acquisition of Logicor

In June, the China Investment Corporation’s (CIC) moved to acquire European warehouse firm Logicor from The Blackstone Group €12.25 billion, essentially the biggest private equity real estate deal in Europe. To pay for the deal, the CIC is arranging a €6.8 billion loan to fund the buyout. China Construction Bank and Bank of China jointly […]


SWFI First Read, July 28, 2017

BREXIT WHAT? Walkie Talkie Building Sold to Hong Kong LKK Health Products Group Infinitus Property Investment, a subsidiary of Hong Kong-based LKK Health Products Group, has acquired the 37-storey Walkie Talkie building in London for approximately £1.3 billion. The property is located at 20 Fenchurch Street. The sellers were Canary Wharf Group and Land Securities. […]


SWFI First Read, July 25, 2017

USS Acquires Roughly 11% Stake in Kemble Water Holdings The Universities Superannuation Scheme (USS) has agreed to buy an approximate 10.94% stake in Kemble Water Holdings, the parent company of Thames Water, the largest regulated water utility in the U.K. USS will become the third largest shareholder in Kemble Water, joining investors such as Dutch […]


Bill Gates Family Office Money to Transform Tampa Skyline

Bill Gates’ family office, Cascade Investment, is helping reshape Tampa Bay’s skyline by adding more urban structures. The majority of Tampa Bay’s urban core development had occurred in the 1980s and 1990s. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


blackstone

Blackstone’s Strengthening Grip on Infrastructure and Permanent Capital

It is no secret when limited partners think of top-tier private equity, most think of The Blackstone Group. Blackstone has been able to lure talent and massive amounts of capital to its platform. Blackstone’s market capitalization is well above its four biggest competitors such as KKR and The Carlyle Group. The alternatives behemoth is moving […]