Energy

GIC Picks Up Interest in Japan Renewable Energy

Singapore’s GIC Private Limited embarked on its first venture into Japan’s clean energy market with the announcement that one of its affiliates will invest in GS Renewable Holdings GK, the parent company of Goldman Sachs-backed Japan Renewable Energy Corporation (JRE). GS Renewable Holdings received initial funding from Japanese capital and GS Infrastructure Partners II, a […]


Masdar to Lead Joint-Venture of Serbia’s Largest Wind Farm

Masdar, the renewable energy arm of Abu Dhabi’s Mubadala Investment Company, has agreed to lead the development of a 158 MW wind farm outside Belgrade in collaboration with the farm’s original developer, Cibuk Wind Holdings. Vetroelektrane Balkana – the project company behind the farm – is wholly owned by Tesla Wind, a 60:40 joint-venture between […]


Saudi PIF Forms Super Esco

Saudi Arabia’s Public Investment Fund (PIF) is moving to form another company – this time a new energy services company called Super Esco. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Doha

Qatar Shifts $20 Billion in Sovereign Wealth to Buffer

Qatar remains a key exporter in liquefied natural gas (LNG). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


mexico

Mexico Government Hedges Oil at $46 for 2018

The Mexican Ministry of Finance completed its annual oil hedge, also known as the Hacienda hedge, for 2018 securing the average export price of US$ 46 per barrel of crude oil. The Mexican government conducts these operations by purchasing puts from a select group of Wall Street banks. [ Content protected for Sovereign Wealth Fund […]


Saudi PIF Reveals Plans for Recycling Catalyst Company

Saudi Arabia’s Public Investment Fund (PIF) revealed plans to form a recycling company to invest in projects to enhance recycling throughout the country. This is part of Saudi Arabia’s Vision 2030 plan. The company aims to be profitable, while reducing the amounts sent to landfills. PIF could also seek to use some of the waste […]


seattle

Who Will Buy Macquarie’s Stake in Puget Energy?

Macquarie Group is looking to sell its ownership stake in Puget Holdings LLC, the ultimate holding entity of Puget Energy Inc. Puget Energy is the largest utility in the state of Washington. In June, Macquarie started the auction sales process, deciding upon Moelis & Co. for its financial advisor. [ Content protected for Sovereign Wealth […]


CDPQ and CKD IM to Acquire Enel Renewable Energy Assets in Mexico

Caisse de dépôt et placement du Québec (CDPQ) and CKD Infraestructura México S.A. de C.V. (CKD IM), an investment vehicle funded by some of Mexico’s largest pension investors, acquired an 80% stake in a portfolio of wind and solar assets owned by Enel Green Power México S.r.l. de C.V, the Mexican unit of Italian renewable […]


Alaska Governor Pitches State Gasline Project to Chinese Sovereign Wealth

Alaska Governor Bill Walker had a four day visit to China last week, which was highlighted by an investment roundtable sponsored by the China Investment Corporation (CIC), the country’s $800 billion plus sovereign wealth fund. At the event, Governor Walker looked for potential investors in his state’s ailing efforts to commercialize its massive natural gas […]


NSSF

Former German Chancellor Gerhard Schröder Named Chairman of Rosneft

Former German Chancellor Gerhard Schröder is joining Russian oil giant Rosneft as chairman. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


JPMorgan Lines Up Financing for Naturgas Energía Transaction

An investor group led by JP Morgan Asset Management raised €1.3 billion bond to finance its acquisition of Spanish energy supplier Naturgas Energía Distribución SA. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Saudi Arabia’s Bahri Slightly Bullish on VLCC Market

The National Shipping Company of Saudi Arabia, also known as Bahri, is an owner and operator of very large crude carriers (VLCC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


AIMCo Loans Money to Western Energy Services Corporation

Alberta Investment Management Corporation (AIMCo) provided C$ 215 million (US$ 176 million) in a second lien senior secured term loan facility to contract drilling and well services firm Western Energy Services Corporation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, September 18, 2017

Duqm Solar Power Plants Eyes Start Before 2017 Ends The US$ 94 million solar power plant project in Duqm will start construction before the end of 2017. The project is funded by Oman Investment Fund (OIF) and Ningxia Zhongke Jiaye New Energy and Technology Management Co. OIF has a 49% stake in the project. SoftBank […]


Why Did CEFC China Energy Agree to Buy a Large Rosneft Stake from Glencore and QIA?

Baar, Switzerland-based Glencore and the Qatar Investment Authority (QIA) have agreed to jointly sell a 14.16% stake in Rosneft to CEFC China Energy Company Limited for US$ 9.1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


CIC Monetizes Part of Teck Resources’ Position

In a pivot, the China Investment Corporation (CIC) lowered its ownership position in Vancouver, B.C.-based Teck Resources Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


How Hurricane Harvey Will Impact Sovereign Funds?

As of August 30, 2017, more than 30,000 Americans remain homeless from the disastrous effects of Hurricane Harvey. An estimated 100,000 homes are thought to have been destroyed or severely damaged by the hurricane and floods. The City of Houston and outlying towns remain impacted, while Texas Governor Greg Abbott commented that the disaster was […]


Oman’s SGRF Strategically Invests in Uranium Miner

Oman’s State General Reserve Fund (SGRF) signed a deal with Berkeley Energia to invest up to US$ 120 million to finance the Salamanca mine, a uranium mine located near Madrid, into production. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

SWFI First Read, August 29, 2017

Munich RE Invests in Minority Stake in Texas Wind Farm Portfolio Munich RE Group, advised by MEAG, acquired a 49% ownership stake in a portfolio of wind projects in Texas from Starwood Energy Group. The portfolio is comprised of two 230 MW wind farms, the Electra and Horse Creek wind farms, in north-central Texas, specifically […]


blackstone

Blackstone Wants a Slice of the MLP Industry

The Blackstone Group moved to acquire Harvest Fund Advisors LLC, an investment firm with more than US$ 10 billion in assets under management. Harvest Fund Advisors raises money from institutional investors in pooled funds and customized separately managed accounts, investing those assets in public master limited partnerships (MLPs) holding U.S. midstream energy assets. The separately […]