NBIM Shareholder Activism: Standing up to Musk, but ESG is not so simple

10th June, 2024

Norway’s Norges Bank Investment Management (NBIM), which oversees the US$1.6 trillion Government Pension Fund Global (GPFG), has announced it will vote against Elon Musk’s proposed US$56 billion compensation package at Tesla, potentially influencing other investors against the record remuneration.

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Champions in Sustainability: PIF leads the way among ME investors

5th July, 2023

On June 30, Global SWF published the 2023 GSR Scoreboard that assesses the progress of various global investor firms around governance, sustainability, and resilience since 2020. There has been significant improvement in best practices globally during the past three years; especially among Middle Eastern funds, from 32% on average in 2020 to 52% on average in 2023.

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Northvolt is Lightning Rod for Battery Investment by Public Pension Funds

20th June, 2023

The Investment Management Corporation of Ontario (IMCO) announced today that it is piling US$400 million into Sweden-based Northvolt, joining a raft of other public pension funds including provincial stablemate OMERS that have invested in the battery manufacturing giant.

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Fund of the Month (May'23): Thailand's Government Pension Fund (GPF)

1st May, 2023

In our April newsletter, we looked at female leadership at State Investors. Only two Asian funds are led by women today: KWAP and GPF. We had the great pleasure of speaking with Dr. Srikanya Yathip, the Secretary General of Thailand’s GPF, which has been evolving and growing very rapidly and could become a significant investor at global scale in the next few years.

From Microfinance to Port Infrastructure, Egypt’s SWF is Channelling FDI

16th January, 2023

Egypt has accelerated inward investment into its economy through the deployment of its young and growing sovereign wealth fund as a go-to partner for foreign investors seeking to penetrate North Africa’s biggest economy.

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Denmark Gives a Boost to Indonesia’s Green Ambitions

9th December, 2022

The Indonesia Investment Authority’s (INA) push for a green energy transition has won the backing of the Danish government’s Investment Fund for Developing Countries (IFU) with the signing of an Investment Framework Agreement (IFA) for up to US$500 million in co-investments in renewable energy, water, waste management, and other circular opportunities.

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Fund of the Month (Nov'22): Greece's GrowthFund (fka HCAP)

1st November, 2022

The past couple of years have been quite eventful for Greece’s SWF, as it rebranded from HCAP to Growthfund, appointed a new CEO and joined the international scene, including membership of the One Planet SWF network and the EMENA SWF foundation. We had the pleasure of speaking with its CEO, Gregory D. Dimitriadis, about the fund’s momentum and future plans.

KIC Presses Ahead with its ESG Ambitions

10th October, 2022

South Korea’s US$205 billion sovereign wealth fund, the Korea Investment Corporation (KIC), is set to take up membership of the UN PRI (Principles for Responsible Investment), joining the world's largest responsible investment consultative body on ESG investment.

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Transition Over Exclusion: Greening Portfolios

21st September, 2022

Exclusion of carbon-intensive assets is the easiest way of achieving a greener portfolio, but Canadian state-owned investor Alberta Investment Management Corporation (AIMCo) believes pension funds can do one better than simply divesting from fossil fuels to address climate change.

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What do Abu Dhabi and Singapore Have in Common? Agtech

13th April, 2022

Local geography and resource limitations are driving agricultural tech investments by state-owned investors from the UAE and Singapore.

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India is Central to CPP's Ambitious Net Zero Targets

12th April, 2022

Canadian public pension behemoth CPP Investments is set to ramp up investments in Indian renewables, CEO John Graham told a press conference in Mumbai this week.

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Fund of the Month (Apr'22): Kuwait Investment Authority (KIA)

1st April, 2022

Despite popular beliefs, the Kuwait Investment Authority (KIA) has one of the highest proportions of female employees among SWFs, at around 50%. One of the main reasons is its Fresh Graduate Training Program, which has since 1995 attracted the best Kuwaiti talent and supported women’s careers. The program is now headed by Ms. Aliah Al-Tameemi, who is the most senior woman at the fund and the first to be named as an executive director in 2017. She oversees a portfolio estimated at over US$ 100 billion in alternative investments, including real estate, infrastructure, private equity and hedge funds, and is the Chairman of infrastructure-dedicated subsidiary Wren House Infrastructure. We had the great pleasure of talking with Ms. Al-Tameemi about her career path, current responsibilities and future goals as a trailblazer of the SWF industry in the Middle East.

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