Singapore

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 […]


Amid Uncertainty, Temasek Seeks to List FTS International

Singapore’s Temasek Holdings looks to list Fort Worth, Texas-based FTS International, Inc. (formerly known as Frac-Tech Holdings), one of the largest hydraulic fracturing (fracking) companies in North America. The company was founded by Dan and Farris Wilks. The company eventually sold a majority interest in 2011 to an investor group led by Maju (Maju is […]


With KKR’s Internet Brands Buying WebMD, Temasek Gets Exposure

In late July, KKR & Co. moved to buyout WebMD for US$ 66.50 per share in an all-cash tender offer, giving the company a value of US$ 2.8 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Leads Series B Round in Hangzhou Just Biotherapeutics

Institutional investors are taking a deeper look into China’s healthcare sector, especially in the area of biotherapeutics. Singapore’s Temasek Holdings led a Series B round in Hangzhou Just Biotherapeutics, Ltd. (Just China), a company focused on developing global antibody and recombinant protein bio-therapeutics. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


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. ]


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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 […]


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. ]


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.


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 […]


ZTO Express Faces Lawsuit Over Alleged Exaggeration of Profit Margins Before IPO

Some people called it China’s FedEx, ZTO Express (Cayman) Inc had its initial public offering (IPO) in 2016, luring institutional investors such as pensions and some sovereign funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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SWFI First Read, July 21, 2017

GIC Puts Bluewater Shopping Centre Stake for Sale Singapore’s GIC Private Limited has put its stake in the Bluewater Shopping Centre on the market. GIC has a 17.5% ownership stake in the Kent property. GIC is asking for more than £400 million. GIC hired Knight Frank to manage the sales process. The main owner of […]


SWFI First Read, July 20, 2017

Path to an Indian National Oil Champion India-owned Oil and Natural Gas Corporation Limited (ONGC) got a green light to acquire a 51.1% stake in state-owned refiner Hindustan Petroleum Corporation from the Indian government. The ownership stake is valued at US$ 4.6 billion based on a recent market valuation of Hindustan Petroleum Corporation. Alpha Investment […]


NSSF

Desktop Metal Raises Series D, Sovereign Funds Participate

Google-backed startup, Desktop Metal, Inc., has just raised US$ 115 million in a Series D round. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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SWFI First Read, July 16, 2017

Verizon Communications Plans Massive New Corporate Campus Project in Las Colinas Verizon Communications revealed plans to construct a massive new 110-acre corporate campus in Las Colinas, an upscale suburb of Irving, Texas. The mixed-use development is called Hidden Ridge and is being developed by KDC. Korea Development Bank Plans to Invest in the Haikou International […]


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 […]


Temasek Continues Investment Shift, Reaches Net Portfolio Value of S$ 275 Billion

Singapore’s Temasek Holdings issued their 2016 annual review, the Temasek Review, revealing a record net portfolio value of S$ 275 billion. The sovereign investor generated dividend income of S$ 7 billion for the year ended March 31, 2017 – a figure 19 times Temasek’s interest expense for the entire fiscal year. Since 2014, Temasek had […]