Weekly Investor Roundup: Li Ka-shing’s Horizons Ventures to Open Family Office in Singapore; AustralianSuper plans increased PE allowance | Asset owners
TOP NEWS OF THE WEEK:
Horizons Ventures, the private investment firm of Hong Kong tycoon Li Ka-shing, is opening a family office in Singapore to find new deals and support portfolio companies trying to expand into Asia.
The new office will have about 10 employees, including Jacky Li, senior investment manager, and Jeffrey Ho, portfolio custodian. The move comes a year after the company said it planned to increase transactions in the region.
Horizons said its decision to move to Singapore – the first outside of Hong Kong – is not influenced by the city-state’s strict national security laws and Covid-related travel restrictions, but motivated by Singapore’s advantages as a regional hub for investors and expansion.
AustralianSuper plans to invest a further A$13 billion ($9 billion) in private equity over the next two years, primarily in the United States, as it leverages private investment to boost returns.
Much of the amount (A$9.5 billion) will go to the healthcare, technology, industrial, consumer and financial sectors. The investment will increase the PE allocation of the super fund from 5% to 7% by 2024.
Source: Australian Financial Review
Ivanhoé Cambridge, Bain Capital and Lodha Group announced a partnership to invest $1 billion in the development of a green digital infrastructure platform in India.
Ivanhoé Cambridge is the $53.4 billion real estate arm of the Canadian pension fund Caisse de depot et placement du Quebec. Lodha is a Mumbai-based property developer and Bain Capital is a Boston-based alternative investment firm.
The partners will each hold a one-third interest in the property, while Lodha will lead the development, operation and management of the assets.
Source: Ivanhoe Cambridge
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Ethical retirement fund Future Super appointed Ed Tomlinson as Aon’s chief investment officer when the fund acquired Aon’s retirement business.
Tomlinson was head of investments for the Pacific region at the company and replaces Kirstin Hunter, co-founder of the A$7 billion Future Super, who served as CIO until her departure at the start of the year. last year.
The superannuation fund also hired Sharon Davis as executive chief investment officer of MLC Asset Management, where she was managing director of strategic initiatives, a role she held for three years.
Source: Financial Standard
The Chinese fund management subsidiaries BlackRock, KKR and the Italian group Azimut have obtained the necessary licenses to raise funds from qualified investors on the continent for investments abroad.
A press release from the Shanghai Municipal Finance Bureau said BlackRock and An Zhong (AZ) Investment Management, a wholly owned subsidiary of Milan-based Azimut, are the latest global managers to be licensed under the cross-border investment program qualified as national sponsorship. launched in Shanghai in 2013.
Source: Pensions and Investments
A Dutch investment firm with $118 billion under management has started blacklisting a number of Chinese assets, after developing a new screening tool to screen for environmental, social and governance risks.
Van Lanschot Kempen NV, a 400-year-old company, has created a test that includes a national corruption score and will start excluding sovereign bonds and state-backed entities from places that don’t pass, Nikesh Patel said, senior executive at wealth manager. The new strategy will initially apply to pension fund customers, although the company plans to discuss it with other customer groups.
Korea Post announced its seventh tender for the year and is currently seeking up to two asset managers for a domestic investment mandate of $156.5 million (200 billion won).
The mandate will be structured as a blind fund focused on non-performing loans, including secured bonds and real estate-related debt.
In its May 10 request for proposal, Korea Post said the fund has an eight-year investment period, which can be extended by two years, and funding could also be increased to $195 million ($250 billion). won). Asset managers will be hired for a four-year term.
The government postal agency did not specify minimum criteria for bidders. The application period will close on May 24, with due diligence and manager selection expected by the end of July.
Source: Asia Asset Management
The Caisse de depot et placement du Quebec (CDPQ) plans to sell up to $200 million of its stake in India Highway Concession Trust, its infrastructure investment trust (InvIT) in the country.
The Canadian pension fund reportedly hired Morgan Stanley to bring in a new investor to fulfill the mandatory requirement for InvITs in India. According to the guidelines of the capital markets regulator, the Securities and Exchange Board of India (Sebi), the minimum threshold for equity dilution in an unlisted InvIT is 25%.
Currently, 5 investors together own around 25% of India’s road concessions, which until recently was exactly in line with Sebi’s guideline of minimum ownership dilution. However, CDPQ’s InvIT recently won National Highways Authority of India (NHAI) Toll Operate Transfer (TOT) 7 lot last month, which boosted its valuation.
Source: The Economic Times
The City of Seattle Employees Retirement System approved new alternative commitments totaling up to $85 million at a May 12 board meeting.
Among the approved commitments, the $4.1 billion pension fund will commit up to $20 million to AG Asia Realty Fund V, a value-added real estate fund managed by Angelo Gordon & Co. The pension fund has previously committed up to $15 million to AG Asia Realty. Fund IV in 2018.
Other commitments approved at the meeting include up to $40 million to Arcmont Direct Lending Fund IV, a direct lending fund managed by Arcmont Asset Management and up to $25 million to Brookfield Infrastructure Fund V, a fund infrastructure managed by Brookfield Asset Management.
Source: Pensions and Investments
The Ontario Teachers’ Pension Plan has entered into a joint venture with Corio, a holding company of the Green Investment Group, to finance the development of an initial portfolio of offshore wind projects of up to 9 GW.
Ontario Teachers’, which has $186 billion (C$241.6 billion) in assets, will invest up to $1 billion in development capital in the portfolio which will include 14 fixed and floating bottom projects in South Korea. South, in Taiwan, Japan, Ireland and the United Kingdom. , all of which are currently under development by Corio.
Teachers’ will acquire up to half of Corio’s interest in these projects, supporting development, construction and operation. The transaction is expected to close in the third quarter of 2022.
Corio and Ontario Teachers’ said they would also explore opportunities to expand the partnership through the creation or acquisition of new projects.
Malaysia’s Armed Forces Fund Board (LTAT) is looking to more than double its bond investments to 20% of total assets as it aims to raise its annual dividend to 5% for its members, its chief executive Nazim has said. Rahman.
The fund also aims to increase its exposure to foreign equities by the end of 2022 through external fund managers, he said during a virtual event on May 12.
LTAT, also known as Lembaga Tabung Angkatan Tentera, was established in 1972 as a statutory body that provides retirement savings and benefits to officers and members of the Malaysian Armed Forces. As of December 31, 2021, it had approximately RM9.7 billion ($2.21 billion) in assets under management.
Source: The Edge
Chainanalysis, a blockchain data platform, raised $170m in a Series F funding round led by Singapore’s GIC, which doubled the platform’s valuation to $8.6bn down from $4.2 billion, a company statement said Friday. (May 13)
Other participants include former investors Blackstone, the world’s largest alternative asset manager, as well as US companies Accel and Dragoneer, which have increased their investment in the company. New investors include Bank of New York Mellon and Emergence Capital.
Chainalysis said it would use the funds to continue investing in product innovation and to scale its global operations to meet customer demand.
Source: Business hours
India’s Dr Agarwal’s Health Care has raised Rs 1,050 crore (approximately $136 million) from existing shareholder of Singapore’s state-owned investment firm Temasek Holdings and new investor TPG Growth in the biggest deal of capital investment in the country in the field of eye care.
The deal includes a primary injection of funds and a secondary transaction which involves the exit of its existing investor ADV Partners, Dr Agarwal said in a statement.
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