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Sovereign Wealth Funds Briefing 29.Nov 2016

Posted on 29 November 2016 by VRS |  Email |Print

Saudi Arabia’s sovereign-wealth fund said Monday that it will acquire a 50% stake in an investment company led by Emirati businessman Mohamed Alabbar. The deal comes after Adeptio AD Investments SPC Ltd. last month completed the purchase of a majority stake in Kuwait’s Americana, one of the Middle East’s largest operators of fast-food chains including KFC, TGI Friday’s Inc. and Pizza Hut.
The Public Investment Fund said the transaction is part of a plan to “increase investment in non-oil sectors and build a portfolio that has greater geographical and asset class diversification.”……………………………………….Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Officials in Qatar and Spain are reportedly mulling the creation of a $1 billion joint investment fund – and a meeting is being scheduled for next year to progress the plans. Spanish ambassador to Qatar, Ignacio Escobar, told Gulf Times in an interview that a bilateral visit by Spanish officials to the Gulf state is expected to take place in the first quarter of 2017, and that the visit could include the signing of an agreement to establish the fund.
He declined to reveal detailed information about any such fund but told the newspaper that Qatar’s sovereign wealth fund had previously expressed an interest in investing in Latin America – and that Spain was a “gateway to Latin America”……………………………………….Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Continuing our assessment of Qatar’s economic diversification in Gulf Times, the creation by the Qatari government of Qatar Investment Authority (QIA), a sovereign wealth fund, in 2005 is a reflection of Qatar’s strategic view of how to shape its economic future as well as its capacity to operate in the global financial markets.
With assets estimated to be around $300bn, QIA’s prime objective is to achieve revenue diversification and to minimise risk from Qatar’s reliance on energy prices. Through the QIA, its subsidiary Qatari Diar, and other funds such as Qatar Foundation Endowment and Qatar Sports Investment, investing once massive surpluses of oil and gas revenues in a manner that supports the long-term prospects of the economy of Qatar has been a priority for the government………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Norway’s biggest pension fund is under pressure to sell its interest in the Spanish company holding the biggest contract to run Australia’s offshore detention centres on Manus Island and Nauru. The Australia Institute claims the pension fund’s investment in Ferrovial is at odds with its commitment to high ethical standards and is not widely known in Norway.
It is mounting a social media campaign in Australia and Norway to convince investors to sign an open letter imploring the pension fund, known as Oljefondet, to divest………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

GIC has hired a big data expert as it expands computer-driven investments through a quantitative group started earlier this year. The Singapore sovereign wealth fund appointed Mr Michael Recce in the newly created role of chief data scientist last month to work in the GIC Data and Analytics Department, according to a spokesman.
Mr Recce, a former associate professor at the New Jersey Institute of Technology, is focusing on collecting publicly available data and analysing them for patterns………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

That the announcement of various changes to the leadership team at GIC - including the elevation of Mr Lim Chow Kiat to chief executive - caused barely a stir speaks of the confidence the general public has in the sovereign wealth fund’s ability to continue managing Singapore’s foreign reserves ably.
Yet the leadership changes come at a critical juncture. The global investment climate is challenging as economic growth languishes, something that GIC acknowledged in its recent results. Its key benchmark - the 20-year annualised real rate of return - has fallen to 4 per cent from the 4.9 per cent reported the previous year………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Singapore’s sovereign wealth fund, GIC, has completed the largest European property deal of the year so far with the acquisition of warehouse developer, P3 Logistics Parks for 2.4 billion euros (US$2.7 billion).
P3 Logistics, based in the Czech Republic, is one of Europe’s largest fully integrated logistics platforms and developers” with 163 “high-quality” warehouses across nine countries on the continent. Acquired from U.S.-based TPG Real Estate and its Canadian partner Ivanhoe Cambridge, the purchase is GIC’s first foray into the European logistics market following significant investment into platforms across Asia Pacific and the U.S………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Following the demonetisation exercise and clampdown on counterfeit notes and black money, ‘Invest India’ — the government’s investment promotion & facilitation agency — has been flooded with queries from foreign pension funds and Sovereign Wealth Funds (SWF) regarding locations and sectors to invest in the country.
Encouraged by this trend, ‘Invest India’ has decided to set up a dedicated team of experts by mid-December this year to cater to the needs of SWFs (which are state-owned investment entities) and foreign public and private pension funds, to attract mega investments into India, Invest India’s Managing Director & Chief Executive Officer, Deepak Bagla told The Hindu………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

South Korea’s sovereign wealth fund Korea Investment Corporation (KIC) will invest 153 billion won ($130.8 million) in seven hotels in major cities in the United States with Local Finance Association (LOFA) on expectations for growth in the U.S. economy under the new U.S. administration in 2017.
According to multiple sources from the investment bank industry on Monday, KIC and LOFA, a provider of financial aid to local governments in Korea, have decided to jointly invest 153 billion won in seven hotels in major U.S. locations including Arizona, California and Texas………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned 3.86% for the quarter ended Sept. 30, ahead of its 3.51% performance benchmark, said a news release from the $54.8 billion sovereign wealth fund.
Strong equity returns, particularly in emerging markets, helped drive the overall return, the news release said. International stocks returned 7.86% for the quarter, followed by U.S. stocks at 5.76%; global stocks, 5.61%; special opportunity, 4.72%; private equity, 2.89%; real estate, 2.56%; absolute return, 2.27%; non-U.S. bonds, 1.83%; public and private credit, 1.29%; U.S. bonds, 1.2%; infrastructure and other real assets, 0.31%; and private markets OCIOs/real-return allocations, -0.6%………………………………………..Full Article: Source

Posted on 29 November 2016 by VRS |  Email |Print

The Ireland Strategic Investment Fund (ISIF) will invest €30m into the country’s largest non-bank lender, Finance Ireland. The €8bn sovereign wealth fund has “conditionally agreed” to take a 32% stake, according to a statement from Finance Ireland, and will nominate two directors for the lender’s board.
Last year, PIMCO bought a similar stake in the company through a private equity vehicle it runs. Finance Ireland lends to small and medium-sized enterprises (SMEs) in the agriculture, motor and commercial real estate sectors………………………………………..Full Article: Source

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