Sovereign Wealth Fund Institute

First quarter data of 2013 from the Sovereign Wealth Fund Transaction Database (SWFTD) has been tabulated. During the first quarter of 2013, direct sovereign fund transactions totaled US$ 14.8 billion. This is an incremental increase of 2.06% compared to the first quarter of 2012. As 2013 progresses, the first quarter number should experience a positive [...]

Many of the massive sovereign funds today were started before the 2000s. Below are some old sovereign wealth fund logos. Click to enlarge logos. Kuwait Investment Authority GIC – 1998 Temasek Holdings 2002 Temasek Holdings 2004 Khazanah Nasional Abu Dhabi Investment Authority China Investment Corporation – Debut

In the midst of troubling economic times, the skyline of Milan is rising. As Italy’s financial hub, Milan is home to the Italian Stock Exchange. The government of Qatar is keen on Italian real estate developments, especially mixed-used projects in highly-trafficked zones. Qatar Holding LLC, the sovereign wealth enterprise of the Qatar Investment Authority (QIA), [...]

According to the press release, “The CPP Fund ended its fiscal year on March 31, 2013 with net assets of $183.3 billion, compared to $161.6 billion at the end of fiscal 2012. The $21.7 billion increase in assets for the year consisted of $16.2 billion in net investment income after operating costs and $5.5 billion [...]

Construction projects in Dubai were deeply affected by the real estate slump. The Investment Corporation of Dubai continues its efforts to support the local Dubai real estate industry. The Investment Corporation of Dubai and Brookfield Asset Management are hoping to lockdown $500 million in financing to launch a real estate fund dubbed the ICD-Brookfield Dubai [...]

According to the press release, “Global Alumina Corporation announced today that it has signed a share purchase agreement with DM GAV Limited, a company established and owned equally by Mubadala Development Company PJSC and Dubai Aluminium, to sell all of Global Alumina’s interests in Guinea Alumina Corporation Limited to DM GAV. Pursuant to the SPA, [...]

An investment consortium led by CITIC Capital Partners is going to buy Asiainfo-Linkage Inc. for about US$ 890 million. U.S.-listed Asiainfo-Linkage Inc provides software to telecommunication companies with big clients such as China Unicom, China Telecom and China Mobile. Using Ellington Investments Pte. Ltd., Singapore’s Temasek Holdings is part of the consortium of investors. Other [...]

Park Alpha, the consulting division of the Sovereign Wealth Fund Institute, has released a briefing on the Outsourced Chief Investment Officer (OCIO) model. Essentially, the outsourced chief investment officer (OCIO) model permits the advisory firm to manage the client portfolio on a discretionary basis – allowing the firm to make changes (with prescribed limits) in [...]

LondonMetric Property Plc is a real estate investment trust (REIT) that was created from a merger between Metric Property Investments Plc and London & Stamford Property Plc. The UK-based REIT is in discussions to sell £275 million in distribution warehouses across England to the €2.4 billion joint venture managed by Prologis and backed by Norges [...]

Doha Global Investment Co., the investment company partially-backed by Qatar Holding LLC, has postponed their initial public offering on the Qatar Exchange to a new date. The investment company plans to manage $12 billion in assets, in which $3 billion of assets will be transferred from Qatar Holding into the new entity. The new vehicle [...]

State-owned China Galaxy Securities Co., Ltd. is mainland China’s sixth largest brokerage company by revenue. Capital market conditions seemed to have improved since 2012, and the company desires to grow their margin financing business. China Galaxy Securities is backed by Central Huijin Investment Ltd., a sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC). [...]

The mega-sized sovereign wealth funds have the characteristic of lower cost of capital compared to small to mid-sized pensions and private investors. The China Investment Corporation (CIC) purchased the Winchester House located in London for £245 million. It was their first direct real estate investment in the London. [Content protected for Sovereign Wealth Fund Institute [...]

Increasingly, sovereign wealth funds are embracing direct investing. Elephantine, aged public funds are the type of institutional investors that partake in these investment activities. Direct investors usually have massive amounts of capital that need to be put to work. On May 8, 2013, OMERS Private Equity, the private equity arm of the Ontario Municipal Employees’ [...]

The U.S. inflation-linked bond sector has experienced major outflows since the start of 2013. Treasury Inflation Protected Securities also called Tips performed well in recent years. With regard to Tips, there is concern that real yields can increase along with nominal bond yields without inflation growing. The theory behind inflation-linked bonds is to allow investors [...]

The first quarter results for 2013 on sovereign wealth fund transparency have now been released to the public. Click on the index image to increase size. Read more Linaburg-Maduell Transparency Index

The North Carolina State Senate has given approval to modify the composition of alternative investments with regard to the state retirement system’s portfolio. The bill passed by a wide margin in the senate, it now heads to North Carolina’s House of Representatives. Current law stipulates the US$ 78.1 billion pension fund can invest up to [...]

Houston-based BMC Software has signed a definitive agreement to be acquired by a private investor group led by Bain Capital Partners, LLC and Golden Gate Private Equity, Inc. Other members of the group include GIC Special Investments Pte Ltd and Insight Venture Management, LLC. Elliott Management, a hedge fund that owns 9.6% of BMC common [...]

This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and Vijoy Chattergy, CIO of the Employees’ Retirement System of the State of Hawai’i at the Institute Fund Summit 2013 Americas in Dana Point, California.

Ireland’s National Asset Management Agency (NAMA) has sold a portfolio of Irish commercial property loans to a new joint venture. The joint venture is 80% owned by a consortium of private investors led by Starwood Capital Group and the rest by NAMA. Other consortium members include Key Capital Real Estate and Catalyst Capital. The loan [...]

According to the press release, “Canada Pension Plan Investment Board (CPPIB) announced today it has formed a new 50%/50% joint venture with Hammerson to acquire a 33.3% stake in Bullring Shopping Centre for £307 million from the Future Fund. The ownership of Bullring is now held 50% by Hammerson (this 16.7% isin addition to its [...]