real assets

U.S. President Trump Mentions Rural Broadband Investment in Infrastructure Proposal

On June 21, 2017, U.S. President Donald J. Trump spoke to a large crowd in Cedar Rapids, Iowa at the U.S. Cellular Center. Trump briefly touted the US$ 1 trillion infrastructure proposal plan. Trump mentioned that part of the plan includes a provision for enhancing rural broadband internet access. Increasingly, U.S. farmers are using technology […]


Denmark’s Industriens Pension Invests in a Number of Motorway Investments

Industriens Pension has invested in the Northwest Parkway toll road in the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CIC Takes a Stake in 1515 Broadway Office Tower

SL Green Realty Corporation had made moves to recapitalize the 54-storey office tower at 1515 Broadway in Manhattan in early January. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Japan Post Scrapped Nomura Real Estate Takeover Dreams

Japan Post Holdings Co., Ltd., formerly a government agency, has officially backed away from plans to buy Nomura Real Estate Holdings Inc. over price concerns and deal terms. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 16, 2017

ADIA Expresses Interest in Cube Highways and Infrastructure The Abu Dhabi Investment Authority (ADIA) has expressed some interest in possibly investing US$ 200 million in Cube Highways and Infrastructure Pte Ltd, an Indian toll roads platform. Cube Highways and Infrastructure was formed by the International Finance Corporation (IFC) and I Squared Capital. Cube Highways and […]


Why Did CBRE Buy Caledon Capital?

As the institutional investment business takes a pivot toward Western infrastructure, real estate managers are taking notice, some are actively looking to buy emerging managers. CBRE Group, Inc. had signed a definitive agreement to acquire a majority ownership stake in Toronto-based Caledon Capital Management. Operationally, Caledon Capital will remain independent and current management plans to […]


Game On, QIA to Acquire 9665 Wilshire

With geopolitical headwinds flashing in the background, the Qatar Investment Authority (QIA) had move to close on the acquisition to acquire 9665 Wilshire in Beverly Hills, which is a 10-storey office building, with their real estate investment partner Douglas Emmett, Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


Mapletree Investments Embarks on Second Student Housing Buy from Kayne Anderson Real Estate

Feeding the hunger of investors’ demand for student housing in developed markets, Singapore-based Mapletree Investments Pte Ltd., which is owned by Temasek Holdings, acquired another portfolio of assets from Boca Raton, Florida-based Kayne Anderson Real Estate Advisors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


blackstone

Blackstone Hearts Finland’s Sponda

The Blackstone Group is fresh off its agreement to sell its European logistics unit Logicor to the China Investment Corporation (CIC). Blackstone Group made an offer to acquire all of Sponda’s shares for €1.8 billion. Sponda is a storied Finnish real estate company, which owns office and retail properties in the country’s biggest cities. [ […]


Ascott Residence Trust to Acquire DoubleTree by Hilton Hotel New York

The Ascott Residence Trust Management Limited, the manager of the Ascott Residence Trust, had entered into a conditional sale and purchase agreement to buy the hotel property known as DoubleTree by Hilton Hotel New York for an aggregate purchase price of US$ 106 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


BIG DEAL: CIC Acquires Logicor

The China Investment Corporation (CIC) beat out other bidders to acquire Logicor for €12.25 billion from The Blackstone Group. London-based Logicor is Blackstone’s pan European logistics company that operates a portfolio of logistics assets totaling 147 million square feet, in 17 countries with over 70% concentrated in the U.K., Germany, France and Southern Europe. The […]


RDIF Plays Hand in Southern Satellite City Development

Founded in St. Petersburg, Renaissance Construction LLC is a construction, development and investment company that is owned by Turkey-based Ronesans Holding AS. Erman Ilıcak is the founder of Ronesans Holding AS. The RDIF, Renaissance Construction together with the Government of St. Petersburg and the Southern Satellite City LLC, have agreed to jointly establish the Southern […]


Ivanhoe Cambridge Buys 85 Broad Street, Former Goldman Sachs HQ

Ivanhoé Cambridge, the real estate arm of CDPQ, and its partner Callahan Capital Properties announced that they have acquired 85 Broad Street, a 30-storey office building in Downtown Manhattan, New York, for approximately US$ 650 million. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Dutch Pensions Sell Q-Park to KKR

KKR, through its infrastructure platform, is buying 100% of the outstanding share capital of Q-Park N.V., a European parking company with more than 870,000 parking spaces in over 6,300 locations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Some Senators Have National Security Concerns on Foreign Property Investors

Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower. The China Investment Corporation (CIC) officially opened […]


Follow the Money – Episode 38

Rachel and I discuss the SoftBank Vision Fund, Saudi Arabia, the Middle East and sovereign wealth funds in this episode of Follow the Money. Rachel gives her opinion on the Blackstone infrastructure fund. This podcast was recorded on May 24, 2017. Download the Episode CONTENTS 1:05 Chatting about Saudi Arabia, SoftBank Group and Sovereign Wealth […]


China Life Finances ElmTree US Portfolio with $950 Million Recap

For quite some time, China Life Insurance Group, the largest financial insurance corporation in China, has signaled a desire to invest in overseas fixed income investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s SWF Portfolio Net Rental Income Could Reach $1 Billion by 2018

Norway’s Government Pension Fund Global (GPFG) is active in the world of institutional real estate. The wealth fund generated US$ 886.46 million worth of net rental income in 2016 versus US$ 124.38 million in 2012. For those new to institutional real estate, net rental income is the income remaining after subtracting qualified expenses from the […]


Italy’s ANAS to Participate in M-4 Don Highway Project

On May 17, 2017, the Russian Direct Investment (RDIF), ANAS S.p.A. (National Autonomous Roads Corporation) and Avtodor State Company announced the formation of a consortium targeting Russian highway infrastructure development and road management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


State Street Financial Center Gets Some Refinancing, Foreign Investors Participate

The skyline-piercing, 36-storey State Street Financial Center, located in Boston’s Financial District, is owned by patriarchs of the Brooklyn-based Kestenbaum family through Fortis Property Group, LLC. Fortis Property Group is based in New York and has amassed a real estate empire through a variety of means. In 2003, State Street Financial Center, originally conceived as […]