💰SWF – Sovereign Wealth Fund
Goodman Sells CPPIB-Backed Logistics in China to Everbright.
Australian commercial property developer Goodman Group announced the sale of a portfolio of prime-grade logistics assets in mainland China to the private real estate arm of Hong Kong-listed asset manager China Everbright Limited, which is itself a subsidiary of the state-owned conglomerate China Everbright Group.
The seven assets included in the transaction represent 320,000 square meters of total gross floor area spread across the cities of Kunshan, Jiaxing, Wuxi, Qingdao, Xi’an, and Shenyang.
https://www.swfinstitute.org/swf-news/goodman-sells-cppib-backed-logistics-in-china-to-everbright/
GIC Participates in Massive Equity Infusion into FirstEnergy.
A group of investors invested US$ 2.5 billion into Akron, Ohio-based FirstEnergy Corporation, a distressed Midwestern utility, which includes US$ 1.62 billion in mandatory convertible preferred equity and US$ 850 million of common equity.
These investors include Singapore’s GIC Private Limited (through Cheyne Walk Investment Pte. Ltd.),
affiliates of Paul Singer’s Elliott Management Corporation,
private equity firm Bluescape Resources Company LLC (through BRC Special Situations III LLC),
Cove Key Master Fund LP and New York-based Zimmer Partners, LP.
https://www.swfinstitute.org/swf-news/gic-participates-in-massive-equity-infusion-into-firstenergy/
CPPIB Buys Stake in ReNew Power Ventures from ADB.
The Canada Pension Plan Investment Board (CPPIB) acquired a 6.3% stake in ReNew Power Ventures Pvt. Ltd. from the Asian Development Bank for US$ 144 million.
ReNew Power was formed in 2011 and is backed by the Abu Dhabi Investment Authority (ADIA) and Goldman Sachs.
CPPIB revealed that investments in India totaled C$ 6.1 billion as of September 30, 2017.