11th February, 2021
India’s National Investment and Infrastructure Fund (NIIF) is close to achieving its US$1 billion target for its Fund of Funds following a US$100 million investment by the BRICS-backed multilateral development bank, New Development Bank (NDB).
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1st February, 2021
In December 2020, NIIFL announced that it had officially closed the Master Fund, which is focused on Indian core infrastructure, with USD 2.34 billion in commitments, including two SWFs (ADIA, Temasek), four PPFs (AustralianSuper, CPP, OTPP and PSP), US DFC and a number of domestic investors such as ICICI Bank, HDFC Group, Axis Bank and Kotak Mahindra Life Insurance. The institution is now fundraising for a Strategic Opportunities Fund (direct private equity) and a Fund of Funds, targeting a total to US$ 6 billion AuM. NIIFL is now regarded as a success story that focuses on two critical assets for the country – private equity and infrastructure – with governments around the world keen to emulate the model. We had the pleasure to catch up with its Head of Investor Relations & Partnerships, Ms. Saloni Jhaveri.
25th January, 2021
MbS unveiled the new Strategy Plan, under which PIF would grow to over USD 1 trillion AuM by 2025.
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18th January, 2021
Abu Dhabi’s drive to go green shifted up a gear at the weekend with Mubadala spearheading two agreements that put the emirate on course for the development of a green hydrogen economy.
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1st January, 2021
Saudi Arabia is a rapidly-changing nation – especially its economic and financial landscape. The roadmap for this change is contained in the Vison 2030 program, which was announced in 2016 and aims to add diversification to the Kingdom via infrastructure, tourism, technology and health. Well until 2015, very few people outside of Saudi Arabia had heard about the Public Investment Fund (PIF), which was solely focused on the development of the domestic economy.
29th December, 2020
The Nusantara Investment Authority (NIA) may have closed its first fund for investments in domestic infrastructure, from an array of international #SOIs
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23rd December, 2020
Congratulations to National Investment and Infrastructure Fund (NIIF) for the successful closing of its Master Fund, which exceeded the initial fundraising target and includes 2 SWFs and 4 PPFs
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1st November, 2020
The Libyan Investment Authority (LIA) was established in 2006 to manage surplus O&G revenues. With assets over $67 billion, the LIA is Africa’s largest SWF and has invested in assets such as Banking Hall in London, Juventus FC and Corinthia Group. However, political unrest and division of power in the wake of Gaddafi’s ousting from power had repercussions on the fund, which saw its international portfolio frozen by the UN in 2011. We had the pleasure of finding out more about the LIA’s latest developments with its current Chairman, Dr. Ali Mahmoud.
1st October, 2020
The Ireland Strategic Investment Fund (ISIF) was established in 2014 as the successor of the National Pensions Reserve Fund (NPRF), under the umbrella of the National Treasury Management Agency (NTMA).
1st September, 2020
The Fundo Soberano de Angola (FSDEA) was established in 2012 with an initial injection of USD 5 billion from O&G proceeds, which made it (and still is) the largest SWF in all of Sub-Saharan Africa. Since then, the fund has gone through various Governance issues, with the son of the country’s President, José Filomeno “Zenú” dos Santos, acting as its Chairman. On August 15, 2020, after an eight-month trial, Zenú was sentenced to five years in jail for embezzling US$ 0.5 billion from the Central Bank. This could be a second chance for the SWF, despite the significant withdrawals faced during the past 14 months. We had the pleasure of catching up with Miguel Carneiro, former Head of Alternatives Investments at FSDEA and currently a partner at AFC & Partners.
1st August, 2020
The Turkish Sovereign Fund was established in 2016 as the strategic investment arm of the Republic of Turkey. After a rocky start where the country’s President Erdogan rewamped TWF’s management and reshuffled the board by appointing himself as the Chairman, the fund seems to have finally found the support and stability to be among the world’s leading SWFs. The recruitment of Mr. Zafer Sönmez as its CEO in September 2018, after he had spent six years with Khazanah, has been instrumental towards that goal. We had the pleasure of catching up with Mr. Sönmez and discussing with him TWF’s recent progress and improvement of its GSR score.