Citigroup Defeats ADIA in Court Again, SWF Mandated to Pay Legal Fees

The Abu Dhabi Investment Authority (ADIA) had pursued a number of legal avenues which stem from its US$ 7.5 billion bailout of Citigroup Inc. Citigroup had won ADIA over the lawsuit, but ADIA kept pursuing a variety of legal channels. Ultimately, so far, Citigroup has prevailed in U.S. courts. ADIA was represented by Quinn Emanuel […]

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forest

Public Institutional Investor Capital Eyes Access to Clinical Trial Company

The upward sloping trend of mega pharmaceuticals outsourcing research, development and operations continues to thrive. Wilmington, North Carolina-based Pharmaceutical Product Development LLC, a clinical research company, could have some new foreign institutional owners. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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SWFI First Read, March 29, 2017

CIT Finances Battery Storage System in Los Angeles CIT led the non-recourse project financing of a 50 megawatt fleet of behind-the-meter, battery storage systems located in certain grid-constrained pockets of the West Los Angeles Basin. Macquarie Capital had acquired the asset from Advanced Microgrid Solutions in August 2016. Since the August acquisition, Macquarie and Advanced […]

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NSSF

OTPP and OMERS Back Smart Meters in the UK

The Ontario Teachers’ Pension Plan (OTPP), Borealis Infrastructure (part of the Ontario Municipal Employees’ Retirement System), and U.K.-based SSE plc are backing the formation of two new companies that will target the U.K. energy utility market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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doha sovereign wealth fund

QIA Plans to Sell Some Shares in Santander Brasil

The Qatar Investment Authority (QIA) is seeking to trim some of its holdings in Banco Santander (Brasil) S.A. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CPPIB and KKR Invest in Bharti Infratel

The Canada Pension Plan Investment Board (CPPIB) and a group of funds advised by KKR acquired over 190 million shares, representing a 10.3% stake in Bharti Infratel Limited, a subsidiary of Bharti Airtel Limited. Bharti Airtel Limited is India’s largest telecommunications services provider. The total consideration for the secondary sale was over Rs 6,193.9 crore […]

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Know Your Customer (KYC) is Becoming More Important Than Ever

The phrase “Know Your Client”, “Know Your Customer”, or “KYC” for short is becoming a more important term as an increasing number of global institutions are entering the fray, engaging in more alliances and transactions and working together on capital-intensive efforts. KYC is becoming increasingly vital as regulations sprout and fiduciaries should know what kind […]

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    SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

    Greenko Energy Gets More Sovereign Fund Cash

    Greenko Energy Holdings, an Indian renewable energy company that is domiciled in Mauritius, received another fresh capital injection from sovereign wealth funds. Greenko is getting US$ 123.9 million from a sovereign wealth enterprise (SWE) of Singapore’s GIC Private Limited, while an Abu Dhabi Investment Authority (ADIA) SWE is committing US$ 31.1 million. GIC remains the […]


    SWFI – Movers and Shakers – March 28, 2017

    Charlie Shaffer Joins Voya Investment Management to be Head of International Distribution Voya Investment Management hired Charlie Shaffer to be managing director and head of Institutional Distribution. He will be based in New York and report to Shaun Matthews, who is the Senior Managing Director, Head of the Client Group at Voya Investment Management. Shaffer […]


    Bpifrance Acquires APE’s Stake in PSA Group

    The Agence des Participations de l’Etat (APE), a French government holdings entity overseeing around 70 firms, sold its 12.7% ownership stake in automobile manufacturer PSA Group (also known as Groupe PSA) to Bpifrance for €1.92 billion (US$ 2.1 billion). This represents a €1.12 billion capital gain for APE. Paris-based PSA Group makes cars and other […]


    PSP Investments, Digital Bridge and TIAA Buyout Vantage Data Centers

    According to data from the Sovereign Wealth Fund Institute (SWFI), there has been a tremendous increase over the past three years in public institutional investors directly investing into data centers. On March 27, 2017, an investor group made up of Public Sector Pension Investment Board (PSP Investments), TIAA Investments (an affiliate entity of Nuveen), and […]


    Temasek Invests in Manipal Health

    With a fertile population and a growing middle class, India’s hospital sector will need more beds over the next decade to accommodate market demand. Hospital companies have attracted the attention of wealth funds, pensions and private equity firms over the past five years in India. Singapore’s Temasek Holdings is poised to acquire an 18% stake […]


    Qatar Sovereign Fund Plans to Open San Francisco Office

    In joining many of its sovereign wealth fund peers, the Qatar Investment Authority (QIA) plans to open an office in San Francisco in 2017 or in the first quarter of 2018. The QIA has an office in Manhattan. The CEO of QIA informed an audience at the Qatar UK Business and Investment Forum, on March […]


    HNA Group Has Ambitions for an Asset Management Empire

    HNA Group is an expanding Chinese conglomerate that has been on an overseas spending spree, armed with roughly US$ 145 billion in assets. HNA Capital, the financial services business of HNA Group, is keen on building a global asset management business. New York-based HNA Capital U.S., a subsidiary of HNA Capital, has agreed to buy […]


    SWFI First Read, March 27, 2017

    QIA Sees Opportunities in Brexit The Qatar Investment Authority (QIA), like many large sovereign funds such as Norway’s Government Pension Fund Global (GPFG), is heavily invested in the United Kingdom. In a public statement, Qatar Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani commented that Qatar expects to invest ‎£5 billion in Britain […]


    SWFI First Read, March 25, 2017

    Bloomberg Reports QIA to Move Domestic Assets to Qatar MoF Bloomberg reported the Qatar Investment Authority (QIA) will move roughly US$ 100 billion of its domestic portfolio to Qatar’s Ministry of Finance. SWFI cannot guarantee the accuracy of this move and is awaiting confirmation. UK FCA Reignites Investigation Regarding Barclays and Qatar The U.K. Financial […]


    Abu Dhabi Investment Authority Holds on to Playa Hotels & Resorts

    With a complex ownership history, Netherlands-based Playa Hotels & Resorts NV is an owner, operator and developer of all-inclusive resorts in Mexico and the Caribbean. In the highly-competitive world of vacation renting, Playa owns a portfolio consisting of 13 resorts located in Mexico, the Dominican Republic and Jamaica. Five of Playa’s resorts (Dreams Puerto Aventuras, […]


    Hong Kong and Canada to Join AIIB

    The Asian Infrastructure Investment Bank’s (AIIB) board announced on March 23, 2017 that Hong Kong and Canada were part of the 13 applicants approved for membership. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Abu Dhabi Investment Council Refinances Chrysler Building

    As the U.S. Federal Reserve signals possible interest rate increases for the remainder of 2017, a number of building owners in Manhattan are looking to refinance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    Follow the Money – Episode 35

    This episode was recorded on March 22, 2017. Rachel and Michael cover JASTA and the potential effects it will have on future investment activity. This episode has a special focus on legal issues and shareholder rights. There is also a debate on ethical investing and the costs of it. Download the Episode CONTENTS 1:05 Shareholder […]


    Falcon Private Bank Pivots Away from Fallout of 1MDB Scandal

    Zurich-based Falcon Private Bank, which was greatly affected by the fallout of the 1MDB scandal, is now getting a capital injection from Aabar Investments, a unit of Abu Dhabi’s International Petroleum Investment Co (IPIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    SWFI First Read, March 23, 2017

    Amazon to Acquire Souq E-commerce giant Amazon has agreed to acquire Dubai-based Souq.com from its shareholders. Rumors say the sales price was roughly US$ 650 million. This transaction enables Amazon to expand retail e-commerce control in the Middle East. Institutional backers of Souq include Standard Chartered Private Equity, Singapore’s GIC Private Limited, Naspers, Baillie Gifford, […]


    ISIF Commits to Reverence Capital Partners Opportunities Fund

    On March 21, 2017, the Ireland Strategic Investment Fund (ISIF) announced a €50 million investment in Reverence Capital Partners Opportunities Fund I L.P., a fund focused on investing in global, middle-market, financial services companies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    BVK Invests in Retail Properties in Spanish Urban Areas Through Hines Account

    Bayerische Versorgungskammer (BVK) has committed €190 million to acquire two prime high street retail assets with associated office space in Madrid (located on Calle Preciados – Maestro Victoria) and Barcelona (located on Paseo de Gracia 17). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


    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, March 22, 2017

    Standard Life Investments Hires Former SSgA Executive for Strategic Relationships Role Standard Life Investments, the investment management unit of Standard Life Plc, hired Larry Carlson to be director of strategic relationships. He will be based in Boston and report to Jack Boyce, the firm’s managing director and head of North America distribution. Previously, Carlson worked […]


    Toll Road Operator 407 International Raises Senior Notes

    407 International Inc. is the operator of the Ontario toll highway Highway 407. 407 International has issued C$ 250 million in 3.43% senior notes (Series 17-A1) from its C$ 1.8 billion medium-term notes program. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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