SWF – Sovereign Wealth Fund
Welsh Pensions Award £15 Billion Pooled Mandate to Russell Investments and Link Asset Services.
The Wales Pension Partnership (WPP), comprised of eight public sector fund councils, has hired Link Asset Services and Seattle-based Russell Investments to help run a collective investment vehicle to pool the pensions’ some £ 15 billion (US$ 20.3 billion) in total assets, with a mandate that includes portfolio construction, cost reduction, currency hedging, transition management, and other services.
Iranian Strategic Sovereign Fund Lends Capital for Mega Oil Refinery Development.
The National Development Fund of Iran issued a loan worth €260 million to the National Iranian Oil Refining and Distribution Company to finish the construction of Iran’s largest oil refinery, dubbed the Persian Gulf Star Refinery, in the southern city of Bandar Abbas, Hormozgan Province.
Persian Gulf Star Refinery owned by Tamin Petroleum and Petrochemical Investment Company (49%), Oil Industry Pension Fund Investment Company (33.1%) and National Iranian Oil Refining and Distribution Company (17.9%).
HMC Sells Majority Interest in a NY RE Portfolio to Blackstone
Harvard Management Company (HMC) disposed of a majority stake in a real estate portfolio for approximately US$ 244 million to the Blackstone Group. The real estate portfolio includes buildings in Manhattan and Queens.
https://www.swfinstitute.org/swf-news/swfi-first-read-january-9-2018/
Heitman Buyouts Firm Investor
On January 5, 2018, Heitman acquired OM Asset Management’s remaining 50% ownership stake in Heitman for US$ 110 million. Heitman is now 100% owned by the firm’s senior professionals.
https://www.swfinstitute.org/swf-news/swfi-first-read-january-9-2018/