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GIC opens Sydney office, expands leadership group

2nd June, 2022

Exactly a year after it first announced it, GIC has closed its first few hires in Australia and has opened an office in Sydney to manage its significant portfolio of assets Down Under. The first team members to be onboarded are a VP from Nuveen, an Associate from Fortius and another one from Credit Suisse. We expect the fund to name a head for the new office soon.

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Fund of the Month (Jun'22): Ethiopian Investment Holdings (EIH)

1st June, 2022

On January 31, 2022, the Federal Negarit Gazette of the Federal Democratic Republic of Ethiopia announced the establishment of the Ethiopian Investment Holdings (EIH) to serve as the country’s strategic investment arm. The fund will have an authorized capital of ETB 100 bn (US$ 1.9 bn at today’s exchange rate) and be seeded with over 43 public enterprises across different sectors, including Ethiopian Airlines, CBE and Ethio Telecom, as well as significant landholdings. We had the great pleasure of chatting with EIH’s CEO, Mr. Mamo Mihretu, and its Deputy CEO, Ms. Bilen Mammo, about the fund’s establishment and vision of the organization’s future.

Israel Finally Launches Sovereign Fund from Gas Windfall Profits

31st May, 2022

Israel’s plan to launch a sovereign wealth fund – the Israel Citizens’ Fund (ICF) – is finally going ahead on Wednesday (June 1st) after years of delays and reduced expectations.

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Korea's SWF Set to Boost Private Markets Exposure as AUM Shoots Past USD200bn

30th May, 2022

The Korea Investment Corporation (KIC) posted an annual return of 9.13% for 2021 with assets under management reaching US$205 billion – exceeding the US$200 billion mark in the first time in its 16 year history.

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Can Middle Eastern SWFs Fulfil their Multi-Billion Bilateral Deals?

27th May, 2022

The Qatar Investment Authority (QIA) is in competition with its Abu Dhabi peers in headline-grabbing multi-billion bilateral memoranda of understanding. Global SWF assesses whether these agreements worth more than the paper they are written on – and if they are simply part of Middle Eastern states’ exertion of soft power.

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Greenko Bumps Up Indian Renewables Investment by GIC and ADIA

25th May, 2022

India is set for another injection of sovereign capital in its fast-growing renewable energy sector with new pledges of investment by Canadian, Middle Eastern and Singaporean funds.

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Nigeria’s Sovereign Fund Posts Gains, but Warns of Inflation and Recession Risks

24th May, 2022

The Nigeria Sovereign Investment Authority (NSIA) shrugged off the impact of market volatility to post its ninth successive year of earnings, but has warned 2022 could be the most challenging year yet due to the impact of inflation, Russia’s invasion of Ukraine and supply chain bottlenecks on all asset classes.

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Kingdom Holdings Set to Align with PIF’s Strategic Domestic Interests After US$1.5bn Deal

23rd May, 2022

Saudi Arabia’s US$600 billion Public Investment Fund (PIF) has snapped up a 17% stake in Kingdom Holdings (KHC), a Saudi private investor in industry and real estate majority owned by its billionaire founder Prince Al Waleed bin Talal Al Saud, for US$1.5 billion – suggesting the two entities could align more closely in areas of common interest.

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ADIA Gets Leaner for Fitter Performance, Closing Offices and Deepening Partnerships

20th May, 2022

The Abu Dhabi Investment Authority (ADIA) has radically pared back its staffing levels in a push towards greater efficiency and focus.

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QIA Catches Up With Mubadala in Spain

19th May, 2022

The Qatar Investment Authority (QIA) has pledged to invest US$5 billion into the Spanish economy, emulating Abu Dhabi sovereign wealth fund Mubadala’s multi-billion dollar bilateral deals.

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Sovereign Investment Supports Europe's Bid to Ween Itself from Russian Energy

18th May, 2022

Geopolitical risks to energy markets is set to drive state-owned investors allocations to European renewables projects, helping to accelerate the impetus towards net zero.

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Russia's NWF Holds Up ... For Now

17th May, 2022

Russia’s National Wealth Fund (NWF) has so far defied expectations that it faces a slump in portfolio value amid increasing sanctions and domestic economic recession, but the situation could still change as Western governments tighten their measures in response to intervention in Ukraine.

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