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GIC said to have backed out of Tokyo property deal

Posted on 16 July 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC has backed out of buying a Tokyo property from Lone Star Funds due to a legal dispute over the property’s ownership, said people familiar with the transaction.
GIC earlier this year agreed to buy Meguro Gajoen, an office complex and a wedding hall, for about US$1.3 billion (S$1.61 billion). If finalised, it would be one of the largest property deals in Tokyo since the 2008 financial crisis. However, GIC is now cautious about completing the sale due to a lawsuit filed in April by the family of Meguro Gajoen’s founder, Mr Rikizo Hosokawa, said the sources………………………………………..Full Article: Source

Lone Star reopens Tokyo property deal as GIC talks stall

Posted on 16 July 2014 by VRS  |  Email |Print

Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter.
GIC earlier this year agreed to buy Meguro Gajoen, an office complex and a wedding hall, for about $1.3 billion which, if finalised, would be one of the largest property deals in Tokyo since the 2008 financial crisis. GIC, however, is now cautious about completing the sale due to a lawsuit filed in April by the family of Meguro Gajoen’s founder, Rikizo Hosokawa, said the sources, who declined to be named because the matter remains confidential………………………………………..Full Article: Source

Chasing Yield, Its Not Just Japan, SWFs Join The Hunt

Posted on 16 July 2014 by VRS  |  Email |Print

Real estate is a beneficiary, as is the stock market, and “they are taking money out of the debt markets,” says Barry Sternlicht, chairman and CEO, Starwood Capital. His last point is interesting considering the widespread low yields in government debt and corporate paper (if SWFs are selling, someone is buying). Anyway, like we’ve all heard others warn, Sternlicht brings up the “crowded trade” risk, but concludes that he doesn’t think rates are going anywhere globally because the world’s economies aren’t strong enough.
While some investors such as SWFs, pension funds, and retirees may absolutely need portfolio income, value investors and those that have long-term horizons with no immediate need or preference for income ought to ensure margin of safety first (that goes without saying, to which I will add opportunistically watching for compounders at very reasonable prices ………………………………………….Full Article: Source

Qatari Diar to Own Seef Lusail Real Estate Development

Posted on 15 July 2014 by VRS  |  Email |Print

Masraf Al Rayan announced yesterday it has entered into an agreement to sell its equity stake in Seef Lusail Real Estate Development Company. Seef Lusail Real Estate Development Company WLL was owned equally by Masraf Al Rayan and Qatari Diar Infrastructure Company.
In line with the agreement between the parties, Masraf Al Rayan has sold its 50 percent equity stake in Seef Lusail to Qatari Diar Infrastructure Company (49 percent) and Qatari Diar Real Estate Investment Company (1 percent). Adel Mustafawi,Group CEO of Masraf Al Rayan stated that this investment has achieved its objectives as planned………………………………………..Full Article: Source

Norway Outlines Staff Plan to Boost Real Estate Holdings

Posted on 08 July 2014 by VRS  |  Email |Print

The Norway Pension Fund-Global has begun recruiting for the team that will oversee an eventual 5% allocation of its $825 billion capital pool to real estate. Norges Bank Investment Management (NBIM), which oversees the asset allocation and implementation of strategy for the world’s largest sovereign wealth fund, has advertised three positions on its website—and the closing date is drawing near.
NBIM is looking for chief risk, administrative, and operations officers, who can choose to be located either in London or Oslo. All three positions would see the successful candidate become part of the fund’s Real Estate Leader Group……………………………………..Full Article: Source

Biggest Wealth Fund Forms New Real Estate Group

Posted on 07 July 2014 by VRS  |  Email |Print

Norway’s $890 billion sovereign wealth fund, the world’s biggest, is seeking top executives for a new real estate group that will invest almost $10 billion annually in properties over the next three years.
The fund, based in Oslo, is looking to hire new chief risk, operating and administrative officers for real estate, according to job postings on its website and in newspapers. The new executives will have “key roles in implementing a new organizational structure, and further develop our ability to invest and manage real estate assets,” the fund said………………………………………..Full Article: Source

Hyde Park Barracks inspected by Abu Dhabi wealth fund

Posted on 07 July 2014 by VRS  |  Email |Print

Hyde Park Barracks, historic home of the Household Cavalry, is being eyed by an Abu Dhabi sovereign wealth fund, the latest instance of Middle Eastern investors circling trophy assets in London. Property sources indicated the latest name to be associated with the site is Mubadala Development Company, a fund controlled by the government of Abu Dhabi.
The Ministry of Defence was initially approached by a raft of interested parties, including luxury property developer Christian Candy, in October last year, eager to secure the six-acre site………………………………………..Full Article: Source

ADIA expands alternative investment teams

Posted on 02 July 2014 by VRS  |  Email |Print

The Abu Dhabi Investment Authority (ADIA) has expanded its investment teams for illiquid asset classes such as real estate, infrastructure and private equity. The sovereign wealth fund also restructured its accounts department and recruited for its IT team, and says overall staff numbers rose to more than 1,500 at the end of last year, an increase of 100 compared with 2012.
“We have built out our investment teams in the illiquid space, such as real estate, infrastructure and, more recently, private equity, adding considerable expertise across geographies and asset specialisation,” says Hamed bin Zayed Al Nahyan, managing director, in the fund’s 2013 review………………………………………..Full Article: Source

Abu Dhabi fund ADIA bullish on infrastructure, alternative investments

Posted on 01 July 2014 by VRS  |  Email |Print

Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, is bullish on infrastructure and alternative investments in 2014, it said on Tuesday after reporting its 20-year annualised returns fell last year. Headquartered in the capital of the United Arab Emirates, ADIA manages the surpluses of Abu Dhabi’s earnings from oil exports and has assets estimated at $773 billion by the Sovereign Wealth Fund Institute.
Publishing its annual review for 2013, which provides rare insights into ADIA’s broad strategy, the fund said alternative investments - those outside mainstream areas such as equities and bonds - achieved their overall target last year. Its hedge fund portfolio delivered strong results despite challenging market conditions………………………………………..Full Article: Source

Norway sovereign fund beefs up to buy more real assets

Posted on 27 June 2014 by VRS  |  Email |Print

Norway’s US$890 billion sovereign wealth fund, the world’s biggest, is building up its organisation and preparing for a move into infrastructure and private equity, its chief executive officer, Yngve Slyngstad, said.
The fund, in a strategy document released on Monday, revealed it was boosting its staff by about 60 per cent over the next three years to tackle increased investments in real estate and said it’s preparing for more investments in assets “with income streams that grow in line with the global economy”………………………………………..Full Article: Source

Sovereigns Boost Stakes in Alternatives, Emerging Markets

Posted on 27 June 2014 by VRS  |  Email |Print

Alternative investments continue to be winners of new global sovereign allocations, as do emerging markets — despite a fundamental preference for developed markets — according to a new study released Tuesday. Invesco’s second annual Invesco Global Sovereign Asset Management Study examined the investment behavior of sovereign investors across the globe.
The study was conducted among 52 individual sovereign investors, representing $5.7 trillion of assets, including standalone sovereign wealth funds, state pension funds, and central banks and government ministries………………………………………..Full Article: Source

Norway’s $890 Billion Fund Gears Up to Expand in Real Assets

Posted on 25 June 2014 by VRS  |  Email |Print

Norway’s $890 billion sovereign wealth fund, the world’s biggest, is building up its organization and preparing for a move into infrastructure and private equity, its chief executive officer said.
The fund, in a strategy document released yesterday, revealed it was boosting its staff by about 60 percent over the next three years to tackle increased investments in real estate and said it’s preparing for more investments in assets “with income streams that grow in line with the global economy.”……………………………………….Full Article: Source

Norwegian SWF plans $27bn expansion into real estate

Posted on 25 June 2014 by VRS  |  Email |Print

Norges Bank Investment Management (NBIM), the arm of Norway’s central bank responsible for managing the country’s $884 billion sovereign wealth fund, is set to establish a global real estate investment team to invest $27 billion over the next three years in private real estate.
NBIM today released its strategy through to 2016, saying the size of the management company will grow from 370 today to 600 over the period, including 200 dedicated to real estate investment. The majority of new hires, it said, will be investment professionals in the fund’s international offices………………………………………..Full Article: Source

Sovereign wealth funds like alternatives

Posted on 24 June 2014 by VRS  |  Email |Print

Sovereign wealth funds have increased allocations to alternative investments in the past year and expect to continue doing so in 2014, according to a study. The Invesco Global Sovereign Asset Management Study suggests this continued appetite for alternatives is a structural trend driven by the influence of allocating assets strategically, rather than a short-term shift due to tactical allocations to boost short-term returns.
First, many sovereign investors remain underweight in alternatives relative to their strategic asset allocation targets. These sovereign investors had increased their target allocations for alternatives in the last five years and had yet to reach these targets………………………………………..Full Article: Source

SWFs still allocating new money to alternatives, emerging markets

Posted on 24 June 2014 by VRS  |  Email |Print

Sovereign wealth funds are stepping up their investment in alternatives as well as in emerging markets, according to a new survey. Invesco’s latest annual Global Sovereign Asset Management study showed that, in 2013, alternative investments were still the asset classes receiving the highest new asset allocations from sovereign investor portfolios, continuing the trend from the year before.
It said 51% of sovereign investors raised their new exposure to real estate in 2013, and 28% lifted their new investment to private equity, relative to their whole portfolio………………………………………..Full Article: Source

Investors counting on property boom despite house price warning

Posted on 23 June 2014 by VRS  |  Email |Print

Survey finds sovereign wealth funds are placing more funds in property even though IMF has warned housing is overvalued. Global investors are betting on a substantial property boom despite warnings that housing in many countries is already overvalued.
According to a large study, sovereign wealth funds are seeking to boost returns by placing a larger proportion of their funds than last year in property, infrastructure projects and emerging markets. More than half of respondents said they increased their property portfolios to benefit from a long-term rise in land and real estate values in developed- and developing-world markets. The survey, by fund manager Invesco, found that while safer assets in the west remained the first choice of investors, the demand for bigger returns had accelerated investments in riskier assets………………………………………..Full Article: Source

Sovereign wealth funds ramp up alternatives exposure

Posted on 23 June 2014 by VRS  |  Email |Print

Sovereign wealth funds are increasingly investing new allocations to alternative asset classes, figures from the second annual Invesco Global Sovereign Asset Management Study show. The study was conducted amongst more than 50 individual sovereign investors across the globe, representing US$5.7 trillion of assets.
Alternative investments remain the clear asset class winners in terms of new asset allocation within sovereign investor portfolios, mirroring the trend reported in the 2013 study………………………………………..Full Article: Source

CBRE: Middle East SWFs To Spend $180 Billion on Real Estate Abroad

Posted on 17 June 2014 by VRS  |  Email |Print

Middle Eastern investors are expected to spend $180 billion on buying commercial property outside their own region over the next 10 years, according to new research from property advisor CBRE. A significant chunk of that investment – roughly $130-$140 billion – is expected to come from regional sovereign wealth funds, while investors, property companies and developers will account for the remaining amount, said CBRE.
Europe is the preferred target and is expected to receive 80 per cent of the $180 billion (around $145 billion) as it offers “diversification, cultural acceptance, high liquidity and market transparency,” said the report. While close to $85 billion will flow into the UK, $60 billion will be invested in continental Europe, with France, Germany, Italy and Spain among the key target markets………………………………………..Full Article: Source

Qatari Diar behind new Conrad Washington DC hotel

Posted on 12 June 2014 by VRS  |  Email |Print

Qatari Diar, the real estate development entity of the Qatar Investment Authority, has emerged as one of the parties behind the construction of the Conrad Washington, DC. The Hilton Worldwide-operated hotel is set to open in early 2018 and will part of the CityCenterDC project in the US capital.
Qatari Diar is working with international real estate firm Hines on the design and construction of the hotel and 70,000 square feet of large-format retail space. Slated to open in early 2018, the hotel will have 370 rooms and is being designed by Herzog & de Meuron Architekten and HKS Architects………………………………………..Full Article: Source

AusSuper grants London property mandate

Posted on 05 June 2014 by VRS  |  Email |Print

AustralianSuper has appointed TIAA Henderson Real Estate (TH Real Estate) to manage its London office property investment strategy. TH Real Estate, which is 60% owned by TIAA-CREF and 40% by Henderson Global Investors, already manages AustralianSuper’s UK shopping centre portfolio.
The arrangement with TH Real Estate is similar to that AustralianSuper negotiated with QIC last year over its US property investments. Rather than provide the fund manager with a lump sum to invest as it will, there is no set investment, and AustralianSuper will be more involved in investment decisions………………………………………..Full Article: Source

ADIA backs Freo, Halter to start CHF450m Mall of Switzerland

Posted on 03 June 2014 by VRS  |  Email |Print

Luxembourg-based developer and investment manager Freo, backed by a unit of the Abu Dhabi sovereign wealth fund ADIA, has joined with Zurich-based property firm Halter to start construction of the CHF450m (€369m) Mall of Switzerland near Lucerne.
Halter took over a stake in the project in the town of Ebikon from Swiss lift builder Schindler, plus an associated 73,000 sq.m. land reserve, enabling the building start, said Halter………………………………………..Full Article: Source

Singapore Wealth Fund Selling Trophy Miami Golf Property

Posted on 02 June 2014 by VRS  |  Email |Print

GIC, a Singapore-based sovereign wealth fund, is now planning to sell the Great White Course, one of five championship golf courses in Doral, located adjacent to the Trump National Doral Resort and Spa in Miami.
The 130-acre offering known as “Doral White” is being positioned as an unparalleled opportunity for a developer to build a massive, mixed-use community from the ground up at a “Main and Main” location in one of the country’s fastest-growing suburbs…………………………………..Full Article: Source

Norwegian Sovereign Wealth Fund Sets Eye on Asia Real Estate Market

Posted on 29 May 2014 by VRS  |  Email |Print

Since the fund got the permission to enter the property market in 2010, it has performed well with a high return. The fund owns properties in Times Square and the Champs Elysees and is thinking to expand the investment globally.
To “reduce the probability of making really big mistakes,” Kallevig said to Bloomberg that the fund is looking to invest in Washington, San Francisco, New York and Boston. In Europe, it’s targeting London, Paris, Munich and Berlin, he said. No specific cities in Asia were mentioned. But its efforts to enter Asia are about to intensify, said Kallevig. The fund will pick two cities in Asia and the selection will use the same criteria as it has used in Europe and the US………………………………………..Full Article: Source

Norway’s sovereign wealth fund eyes Asia’s property market

Posted on 26 May 2014 by VRS  |  Email |Print

Norway’s USD860bn wealth fund, the world’s biggest sovereign wealth fund, is beefing up efforts to enter Asia as part of its expansion into the property market around the world. Karsten Kallevig, who heads the real estate team for Norges Bank Investment Management, said that as the fund’s push into Asia takes shape, the fund will narrow its focus to two cities.
The entry will be based on the same criteria it has used in Europe and the US, tapping cities with the best growth potential and where there are supply constraints, Kallevig said. The fund’s property portfolio now stands at USD10bn and that could grow to more than USD61bn by 2020, said Kallevig………………………………………..Full Article: Source

Qatar fund may finance Vornado tower

Posted on 23 May 2014 by VRS  |  Email |Print

Vornado Realty Trust is in close talks with a Qatar sovereign-wealth fund to finance its planned condo tower on Central Park South. The Qatar Investment Authority would provide hundreds of millions of dollars to finance the 950-foot tower, according to The Wall Street Journal.
The real estate investment trust has reportedly spent about $510 million on the site so far. It has been looking to construct the tower without having to put more of its own money into the project and this deal will help the company meet that goal. The sovereign Arab emirate has shown great interest in New York City real estate in recent months. Earlier this year, the government of Qatar bought a townhouse at 19 E. 64th St. for $100 million. It plans to set up its New York consulate there………………………………………Full Article: Source

Norway SWF Lobbies for Private Equity and Infrastructure

Posted on 23 May 2014 by VRS  |  Email |Print

The world’s biggest sovereign wealth fund, the Norway Pension Fund—Global, is seeking to diversify into private equity and infrastructure.The fund is lobbying the Norwegian government to allow it to allocate a portion of its $860 billion portfolio into the two asset classes, according to Bloomberg. It currently holds predominantly equities and fixed income, as well as a 5% position in real estate, overseen by Karsten Kallevig, CIO for real estate.
A spokesperson for the Norway Pension Fund could not be reached for comment at the time of going to press………………………………………Full Article: Source

Oil Fund of Azerbaijan can buy gold for at least $561 million more

Posted on 21 May 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) can buy gold for at least $560.995 million more. According to the Fund, as of April 1, its gold assets totaled $1.256 bn that was equivalent to 3.5% of its investment portfolio ($36.343 bn).
Investment rules allow the Fund to invest up to 5% of its portfolio ($1.817 bn as of April 1) into gold. As of reporting date, SOFAZ had gold assets in amount of 30.175 tons (970.146 ounces)…………………………………Full Article: Source

Alaska Permanent Fund Calls for Less Aggressive Private Equity Pacing Plan

Posted on 21 May 2014 by VRS  |  Email |Print

The Alaska Permanent Fund Corp. wants to cut its commitments to private equity in the fiscal year beginning July 1, dialing down the target amount slated for commitments to $800 million from the $1.23 billion a year earlier .
The $48.8 billion state fund’s views on private equity have tempered amid anxieties that a record amount of dry powder awaiting deployment will crowd out returns………………………………..Full Article: Source

Dymon, Temasek In Seeding Deal

Posted on 13 May 2014 by VRS  |  Email |Print

Temasek Holdings has committed an initial US$500 million (S$625 million) to start a hedge fund seeding venture with Singapore-based asset manager Dymon Asia Capital, at a time when the Asian industry is starting to recover after six years of sluggish growth.
Temasek will become a minority stakeholder in Dymon as a result of the arrangement, the hedge fund said in a statement. Dymon president Jay Luo and managing director Ben Freischmidt will lead the new venture. The capital will be used to seed new strategies and fund managers, and manage all non-investment functions to allow managers to focus on their trading activities………………………………………..Full Article: Source

Temasek Invests in Dymon Asia to Start Hedge-Fund Platform

Posted on 12 May 2014 by VRS  |  Email |Print

Temasek Holdings Pte, the Singapore state-owned investment company, will start a venture with Dymon Asia Capital (Singapore) Pte to back new hedge fund managers and strategies as it becomes a minority stakeholder in the firm.
Temasek committed $500 million initially that will be managed by Dymon, a hedge-fund manager based in the island-state, according to Dymon President Jay Luo. Luo and Dymon Managing Director Ben Freischmidt will be leading the new venture for Dymon, according to an e-mailed statement………………………………………..Full Article: Source

Dymon gets $500 mln from Temasek to seed hedge funds

Posted on 12 May 2014 by VRS  |  Email |Print

Singapore-based asset manager Dymon Asia Capital has received commitment worth $500 million from Temasek Holdings to jointly invest in hedge funds, Dymon said in a statement on Monday.
The first investment from the venture will be in Port Meadow Fund to be managed by SAC Capital portfolio manager Carl Vine. The long/short equity hedge fund is expected to be launched in the second quarter. The new seeding venture is led by Dymon President Jay Luo and Managing Director Ben Freischmidt………………………………………..Full Article: Source

Asian banks snap up prime office space in Central

Posted on 12 May 2014 by VRS  |  Email |Print

Singapore’s United Overseas Bank (UOB) recently signed a new lease to occupy more than 30,000 sq ft in Citibank Plaza at 3 Garden Road in Central, one of the biggest office complexes in the city, according to property agents familiar with the deal. The floor to be taken by UOB used to be office space for a major American bank in Hong Kong.
UOB is not alone in the latest wave of financial industry competition for top-end office space in the city. China Securities (International), a mainland brokerage partly owned by China Investment Corp - the mainland’s sovereign wealth fund - recently expanded its Hong Kong office at Two Exchange Square in Central from the existing 6,602 sq ft to the entire floor of about 13,000 sq ft, property agents said………………………………………..Full Article: Source

Sovereign Wealth Funds Are Shaking Up the European Real Estate Market

Posted on 12 May 2014 by VRS  |  Email |Print

Over the past year sovereign funds have been snapping up prime properties in
London and have begun to make inroads into Europe - a wave of activity that’saccelerating. In December, Singaporean sovereign wealth fund GIC purchased a 50 percent stake in Broadgate, a sprawling office complex on the edge of the City of London financial district, for GBP 1.7 billion, in one of 2013’s biggest deals.

And in January of this year, China Investment Corp., a $650 billion sovereign wealth fund, shelled out GBP 800 million for Chiswick Park, a 33-acre (13-hectare)office park in West London………………………………………..Full Article: Source

Khazanah to take stake in Philippine developer

Posted on 02 May 2014 by VRS  |  Email |Print

Malaysian sovereign wealth fund Khazanah Nasional will invest RM215 million (S$82.5 million) in 8990 Holdings, a mass housing developer in the Philippines. This would be the agency’s first foray into the South-east Asian country.
In a statement yesterday, the wealth fund said that its special-purpose vehicle, Pasir Salak Investments, had entered into a cornerstone investment agreement for 8990’s upcoming share offering. Under the agreement, Khazanah would take up an 8 per cent interest in the company, allowing it to gain exposure to the country’s ”growth story”………………………………………..Full Article: Source

Khazanah buys 8pct stake in Philippines’ mass housing developer for RM215mln

Posted on 30 April 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd has agreed to be a cornerstone investor in Philippine-listed mass housing developer 8990 Holdings Inc, paying 2.93bil pesos (RM215mil) for an 8% stake. This is its first investment into a Filipino company.
The sovereign wealth fund said it had signed a cornerstone investment agreement, via special purpose vehicle Pasir Salak Investments Ltd, for 8990’s upcoming follow-on share offering. According to Khazanah, 8990 Holdings caters to the low-income group with homes priced between RM33,000 and RM92,000 in districts such as Cebu, Davao, Iloilo, Cavite and Pampanga………………………………………..Full Article: Source

Malaysia’s Khazanah Nasional agrees to invest in Philippines’ 8990 Holdings

Posted on 29 April 2014 by VRS  |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd said late Monday it will buy an 8% stake in Philippine property developer 8990 Holdings Inc. for 2.93 billion Philippine pesos ($65.87 million). The investment marks Khazanah’s first foray into the Southeast Asian nation.
As part of the deal, Khazanah agreed to be a cornerstone investor for 8990 Holdings’ upcoming share offering, Khazanah said in a statement. 8990 Holdings, which is already listed on the Philippine Stock Exchange, is making a follow-on share offering to raise funds for expansion………………………………………..Full Article: Source

Angola sovereign wealth fund starts hotel, infrastructure pools

Posted on 25 April 2014 by VRS  |  Email |Print

The Fundo Soberano de Angola, the $5 billion sovereign wealth fund of Africa’s second-largest oil producer, is starting investments in hotels and commercial infrastructure in sub-Saharan Africa. The fund, based in Luanda, may invest in 50 sub-Saharan African hotels over three years, including in its home country, Chairman Jose Filomeno dos Santos said in an interview in Hong Kong.
In addition to the hotel fund, it is also setting up an infrastructure fund that will participate in projects including ports, airports and power plants, added the 36-year-old eldest son of the nation’s President Jose Eduardo dos Santos………………………………………..Full Article: Source

Angola to put sovereign funds toward commercial property investment

Posted on 25 April 2014 by VRS  |  Email |Print

Angola’s Sovereign Fund, which was set up with initial capital of U.S. $5 billion, plans to start investing in hotels and commercial facilities in sub-Saharan Africa, its chairman José Filomeno dos Santos said.
Speaking to financial news agency Bloomberg in Hong Kong, dos Santos said that the Fund may invest in 50 hotel units in sub-Saharan African countries, including Angola………………………………………..Full Article: Source

South Korea’s state fund plans to double alternative investments

Posted on 24 April 2014 by VRS  |  Email |Print

Korea Investment Corp., the nation’s $72 billion sovereign wealth fund, plans to double alternative investments over the next 10 years to compensate for declining returns from stocks and bonds.
“We’ll have to embrace the lower return expectation from traditional assets and that will continue for a considerable period,” Choo Heung Sik, 56, the chief investment officer of the state fund, known as KIC, said in an interview in Seoul on April 21. “Considering such an environment, expanding into alternatives is one of the most efficient way to protect yield in the mid-to-longer term.”……………………………………….Full Article: Source

Sovereign wealth funds eyeing alternative investments: Pro (Video)

Posted on 24 April 2014 by VRS  |  Email |Print

Rod Ringrow, senior executive officer at State Street, says sovereign wealth funds are looking at long-term alternative investments.……………………………………….Full Article: Source

Property gains drove 2012-13 profits for Malaysia state investor 1MDB accounts

Posted on 23 April 2014 by VRS  |  Email |Print

Malaysian state investment fund 1Malaysia Development Bhd (1MDB) relied on a sharp revaluation of its property assets to drive profit growth in its last financial year, accounts released today showed. The improvement came despite 1MDB paying more than RM10 billion to buy power businesses in the past two years.
1MDB, whose board of advisers is chaired by Prime Minister Najib Razak and which has been criticised for a lack of transparency, last week reported a net profit of RM778 million for the year through March 2013, up from RM44.7 million the previous year……………………………………….Full Article: Source

RRJ, Temasek’s fund invest $250 mln in Chinese developer

Posted on 11 April 2014 by VRS  |  Email |Print

RRJ Capital Ltd., run by Charles Ong, and a fund owned by his former employer, Temasek Holdings Pte, have invested $250 million in Chinese logistics warehouse developer Shanghai Yupei Group Co.
The investment follows a $200 million stake purchase by the Carlyle Group and Townsend Group in August and completes the company’s equity financing needs for the foreseeable future, Yupei said in a press release yesterday. Temasek is Singapore’s state-owned investment company………………………………………..Full Article: Source

It’s official: Temasek spins off PE holdings into Astrea II

Posted on 11 April 2014 by VRS  |  Email |Print

Temasek Holdings, the investment arm of Singapore government, has launched a new co-investment vehicle, Astrea II. The $215-billion fund will hive off part of its holdings into this new vehicle to enable participation by wider set of investors.
The new vehicle will have holdings in 36 private equity funds across geographies, sectors and vintages. With Temasek as the single largest investor at 38 per cent, Astrea II will be managed by ARDIAN, a global private investment company and leading secondary fund manager………………………………………..Full Article: Source

Alvin Jiang, the princeling of private equity

Posted on 11 April 2014 by VRS  |  Email |Print

The 28-year-old wears black-framed glasses perched on cheeks still round with youth. A discerning eye might notice the resemblance to his grandfather: former Chinese president and Communist Party leader Jiang Zemin.
Alvin Jiang has a knack for landing lucrative deals in China, the world’s biggest emerging market for private equity. He is a founding partner at Hong Kong-based Boyu Capital, now one of the hottest firms in China. Boyu has attracted high-profile investors such as Asia’s richest man, Li Ka-shing, and Singapore’s sovereign wealth fund, Temasek Holdings Private Limited……………………………………….Full Article: Source

GIC to buy Tokyo property for $1.3 bln from Lone Star-sources

Posted on 10 April 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC will buy a Tokyo property from US investment fund Lone Star Funds for about 134 billion yen (S$1.6 billion), the highest price since Japan’s real estate market recovery accelerated last year, people with direct knowledge of the sale told Reuters.
Lone Star had put up the property, called Meguro Gajoen, for auction late last year for at least 96 billion yen. The property comprises a complex of office towers, with the Japanese unit of Amazon.com its main tenant. GIC was chosen from three final bidders, which included a consortium of New York-based real estate investment firm Aetos Capital Real Estate and China’s sovereign fund China Investment Corp, two of the people said………………………………………..Full Article: Source

Temasek sets up private-equity investment vehicle Astrea II

Posted on 10 April 2014 by VRS  |  Email |Print

Singapore investment company Temasek has launched a new co-investment vehicle, Astrea II, which has broadly diversified holdings in 36 private equity funds.This is the latest of Temasek’s continuing efforts to develop co-investment platforms where diversified portfolios of assets can be made available to a broader base of investors, including retail investors in the long term.
It is the single largest investor in Astrea II at 38 per cent. Mr Dilhan Pillay Sandrasegara, Head of Enterprise Development Group in Temasek, said, “Temasek continues to be an active investor in high quality private equity or PE funds globally. These investments have created value for us in the form of direct returns, as well as opportunities for us to make further direct investments alongside the PE fund managers.”……………………………………….Full Article: Source

Temasek spins off selected investments into special-purpose vehicle

Posted on 10 April 2014 by VRS  |  Email |Print

Temasek Holdings is securitising more of its investments into a special-purpose vehicle to reach a broader base of investors, including retail investors, over the longer term. The Singapore investment firm has launched Astrea II, a co-investment vehicle with broadly diversified holdings in 36 private equity funds.
The name refers to Astrea, the first special-purpose vehicle through which it securitised some of its investments in private equity and venture capital funds in 2006………………………………………..Full Article: Source

Temasek private equity arm backs Southeast Asia cab booking app

Posted on 09 April 2014 by VRS  |  Email |Print

A unit of Singapore state investor Temasek Holdings is putting its substantial clout behind an app that eases the pain of booking taxis in Singapore and Malaysia, aiming to expand the service in other busy Southeast Asian cities.
Vertex Venture Holdings, a $1.2 billion venture capital firm that focuses on emerging companies and funds in Asia and the United States, said on Tuesday it was leading a group of mostly Malaysian investors putting an unspecified “eight-figure sum” into smartphone app company GrabTaxi………………………………………..Full Article: Source

Biggest wealth fund put on review for move to new asset classes

Posted on 08 April 2014 by VRS  |  Email |Print

Norway will wait to see whether real estate investments by its $850 billion sovereign wealth fund pay off before considering new asset classes including infrastructure and private equity.
“Whether we do it next year or the year after, that hasn’t been decided,” Paal Bjoernestad, state secretary in charge of the fund at the Finance Ministry, said in an April 4 interview. “We will come back to it — it’s not off the table.”……………………………………….Full Article: Source

SOFAZ to keep searching for real estate in Asia

Posted on 07 April 2014 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ is planning to continue searching for commercially attractive real estate in Asia. “It’s not yet certain whether SOFAZ will manage to complete the investment policy in East and South-East Asia by purchasing Pine Avenue Tower A worth $447 million in Seoul,” SOFAZ said. “It is difficult to reveal and examine the economically attractive real estate in this region, but SOFAZ will continue going ahead in this direction,” the company added.
SOFAZ, an entity that accumulates and manages Azerbaijan’s oil and gas revenues, said earlier that it can spend about $1 billion to purchase real estate in Asia and Australia. Almost a half of the claimed investments have been already made in the purchase of real estate in Seoul………………………………………..Full Article: Source

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