sovereign wealth funds

Norway’s fund counts divestment cost

Norway’s Government Pension Fund Global’s equity portfolio missed out on 1.1 percentage points of additional gain due to the exclusion of stocks on ethical grounds over the past 11 years, according to Norges Bank Investment Management, which manages the sovereign wealth fund’s assets. A report by Norges Bank said its benchmark index for equities is […]

Norway’s SWF doubles gains

Norway’s sovereign wealth fund, the world’s biggest and a key investor in Apple and Alphabet, earned more than $53 billion last year as equity returns surged and offset a rise in the Norwegian kroner, the government said on Tuesday. Norway’s Government Pension Fund Global fund returned 6.9%, or Nkr447 billion ($53.5 billion) last year, the state-controlled […]

Singapore goes all out for DC

Singapore’s sovereign wealth fund, GIC, is making a huge splash into the Washington DC market.  The fund has formed a JV with Beacon Capital Partners to invest $1.05B in three of Beacon’s office assets totaling more than 2M SF.  GIC will join Beacon in ownership of Terrell Place, the Verizon Center-adjacent office building at 575 7th St. […]

Saudis mull leisure park purchase

Saudi Arabia’s Public Investment Fund, which is being transformed into a $2 trillion investment giant, is considering buying a stake in U.S. theme park operator Six Flags Entertainment Corp., Bloomberg reports. The PIF is holding early deliberations about the potential investment after the kingdom started negotiations to let the Texas-based company open its first attractions […]

Turkey transfers huge stakes to fund

Turkey has transferred stakes worth billions of dollars in Ziraat Bank, the Borsa Istanbul stock exchange, Turkish Airlines and state-owned pipeline operator BOTAŞ, among others, to a new sovereign wealth fund, in a bid to help finance giant infrastructure projects. The transfers were announced in two separate statements on Feb. 5 and 6, stirring strong […]

Saudi fund attracts attention

Among the throngs who descended on Davos this year, a big draw for some of the world’s most influential financiers and dealmakers was a Saudi chief executive on his first trip to the annual gathering. The attention that Yasir al-Rumayyan enjoyed was a result of the transformation of the entity he heads: Saudi Arabia’s state-owned […]

Fund cleared for defence investment

Norway’s $885-billion sovereign wealth fund, the world’s largest, can again invest in U.S. defence contractor Raytheon as the firm is no longer involved in the production of cluster munitions, the Norwegian central bank said on Wednesday. The fund had been banned from investing in the company in 2005. It is not allowed to invest in […]

Qatar upping its Russian stakes

The UK’s Financial Times reports that Vladimir Putin, Russia’s president, said on Wednesday that the Qatar Investment Authority would participate in new oil extraction projects in the country, without elaborating further. Abdullah bin Mohammed Al Thani, the fund’s chief executive, said it would invest a further $2 billion on top of $500 million of existing […]

Fund buys Deutsche Bank HQ

GIC, Singapore’s sovereign wealth fund, has bought a 95 percent stake in 60 Wall St., a 47-storey tower in lower Manhattan that serves as the U.S. headquarters of Deutsche Bank. The deal values the 1.6 million-square-foot (148,600-square-metre) skyscraper at $1.04 billion, or about $640 a square foot, GIC and seller Paramount Group Inc. said in […]

Fund to probe pay deals

Companies whose shareholders include Norway’s $885 billion sovereign wealth fund can expect closer scrutiny of executive pay when the next round of annual investor meetings begins. The Norwegian fund is working on an updated policy to address executive pay at the 9,000 companies it is invested in and expects this to be in place “in […]