AUSTRALIA
AustralianSuper has posted a record 20.4% return over the past 12 months as stocks have rallied. Australia’s largest super fund, with over A $ 200 billion ($ 140.47 billion) in assets under management, holds 58% listed equities and 32% international equities.
Over the past year, as Covid raged, the fund rebalanced its portfolio away from financials and away from tech stocks, and considered reducing its exposure to credit. Infrastructure contributed 12% and real estate contributed 3% to the fund.
On Monday July 5, AustralianSuper also announced that it had taken a 40% stake worth A $ 774 million in Moorebank Logistics Park, its largest direct real estate investment in Australia.
Source: Australian Financial Review
An Australasian consortium has acquired a 49% stake in the largest network of mobile tower sites in Asia. The consortium includes the sovereign wealth fund Future Fund, Sunsuper, the Commonwealth Superannuation Corporation (CSC) and Morrison & Co.
Telstra will retain a 51% stake in Telstra InfraCo Towers, which owns and operates 8,200 tower assets, including 5,500 mobile supporting critical digital infrastructure across Australia.
The transaction values the company at AU $ 5.9 billion.
Source: Future Fund
QSuper, IFM Investors and Global Infrastructure Management have announced an Australian $ 22.26 billion takeover bid for Sydney Airport. The offer was offered at A $ 8.25 per share, which equates to a 42% premium on the last closing price.
As part of the offer, UniSuper, which owns a 15% stake in Sydney airport, is expected to reinvest its stake in the consortium’s holding vehicle.
The Sydney Airport Board of Directors has started an assessment of the proposed bid.
Source: BBC, Financial standard
CHINA
AIA Group has announced plans to acquire a stake in the life insurance business of China Post Group for Rmb 12 billion ($ 1.86 billion) as it continues to expand its presence in mainland China.
AIA to buy 24.99% stake in China Post Life Insurance through its wholly-owned subsidiary, subject to regulatory approval, according to a filing on the Hong Kong Stock Exchange after trading hours Tuesday 29 June.
“AIA’s investment in China Post Life is very complementary to our strategy in China and allows the group to take significant advantage of additional distribution channels and customer segments,” said Lee Yuan Siong, CEO and Chairman of group, in a press release.
Source: AIA
HONG KONG
Invest Hong Kong (InvestHK) opened an independent office and created a team to attract and promote family office business in the Special Administrative Region. FamilyOfficeHK will be located in Admiralty, where many family offices are located, in order to better serve its clients.
The team will work closely with industry and government departments and organize seminars as well as client services for family offices or high net worth individuals looking to build a footprint in Hong Kong and / or Asia.
It will also have two members in mainland China and one in Europe to understand the needs of customers in different countries.
Source: International advisor
JAPAN
The Government Pension Investment Fund (GPIF) posted a record return of 25.15%, or ¥$ 37.8 trillion ($ 339 billion) for the fiscal year ended March, the highest since its inception in 2001, supported by the global stock market rally. Foreign stocks were the best performer over the period, returning 59.42%, followed by a 41.6% return from domestic stocks.
The fund also plans to increase the share of alternative investments in infrastructure, real estate and private equity funds to 1.6% from 0.7% in the medium term, said GPIF chairman Masataka Miyazono. .
Source: GPIF; Global S&P
The Japan Association of Local Civil Servants’ Pension Funds, or Chikyoren, has hired real estate investment advisers Barings and Mitsui to manage allocations to private foreign debt and domestic real estate, respectively.
Barings Japan will act as an advisor while its Irish subsidiary, Barings International Fund Managers (Ireland), will act as a sub-advisor for the allocation of private debt. Likewise, Daiwa Fund Consulting will serve as an advisor for the national property allocation, while Mitsui Real Estate will serve as a sub-advisor.
Source: Street Asia Affair; Chikyoren
KOREA
The National Pension Service (NPS) has acquired an office tower in Australia, the Melbourne Quarter Tower, from Lendlease for an estimated sum of A $ 1.2 billion ($ 900 million), Lendlease announced on July 1. .
The building is the tallest and last commercial office building in Lendlease’s AU $ 3 billion Australian district. Lendlease Funds Management will manage the asset on behalf of the Korean institution. Medibank, one of Australia’s largest private health insurers, will be the main tenant of the high-end tower.
Source: Loan-lease; IPE Real Assets
Korea Investment Corporation (KIC) has said its assets under management will reach $ 200 billion “in the near future”, and that it will strive to become one of the world’s top 10 sovereign wealth funds, the new director said. General Jin Seoung-ho at his first press conference on July 2 since taking office on May 18.
He described the growth of assets, expansion of alternative assets, responsible investments and contribution to the development of the domestic financial industry as four strategic objectives towards the target.
KIC’s last assets under management stood at $ 195.7 billion at the end of May. It is currently ranked 15th largest sovereign wealth fund in the world by AUM, according to the U.S.-based Sovereign Wealth Fund Institute.
Source: CCI; AsianInvestor; SWFI
Korean venture capital firm (KVIC), a Korean government-backed fund of funds, approved a capital commitment of $ 37.5 million to five venture capital funds in the Asia-Pacific and Middle East and North Africa region (MENA ).
The five venture capital firms that have secured a commitment from KVIC are Chinese firm Northern Light VC, which received $ 10 million; Vertex Venture Management in Southeast Asia ($ 15 million), Cento Ventures ($ 6 million) and Do Ventures ($ 5 million); and MENA-focused Shorooq Partners ($ 1.5 million), according to a disclosure from the Korean company.
Source: Street Asia Affair
SINGAPORE
Singapore sovereign wealth fund GIC will invest around $ 1 billion for a minority stake in US plasma collection company Biomat, owned by Madrid-listed pharmaceutical company Grifols.
Grifols did not disclose the exact stake GIC would take.
The company will use all of the proceeds to reduce its debt, Grifols said in the press release. At the end of the first quarter of 2021, it stood at 6.2 billion euros ($ 7.38 billion).
Source: Reuters
Singapore’s Temasek has invested in Indian meat and seafood company Licious. This follows the announcement last month that Temasek’s subsidiary, Vertex Ventures, has invested $ 15 million in the company.
Brunei Investment Agency also participated in the $ 192 million Series F round of funding. The new capital will be used for supply chain transformation, local and international expansion and product launches, the company said. .
The latest investment brings Lucious’ total raised to $ 286 million.
Source: Commercial standard
Singaporean state investor Temasek has signed a condition sheet to lead a $ 100 million funding round in Indian challenger bank Open, according to people familiar with the matter.
“Temasek has been finalized as a lead investor… others are still negotiating the deal with the company, which is expected to be finalized within a month,” they said. Like other challengers or “neobanks”, Open operates online but has no physical existence.
In April, Temasek’s counterpart GIC led a $ 160 million Series E funding in Indian fintech startup Razorpay alongside Sequoia Capital India.
Source: Street Asia Affair
Temasek led a $ 30 million Series B funding round in Silicon Valley-based green cement firm Fortera, alongside US venture capital firm Khosla Ventures. Fortera’s carbon mineralization technology converts carbon dioxide into ready-mixed cement that reduces cement production emissions by 60%.
The public investment company has set a target of halving its portfolio’s net carbon emissions by 2030 and achieving net carbon emissions by 2050.
Fortera said the new funding will be used to deploy its technology and for product adoption.
Source: Press release
Singapore sovereign wealth fund GIC will sell its 17.65% stake in Singapore-based Hua Qing Holdings (HQH) to Hong Kong real estate group Sino Land. HQH’s portfolio includes Raffles City Shanghai, a commercial building comprising of a premier office tower and shopping center.
Sino Land will also acquire a 22.68% stake from Singaporean developer CapitaLand, bringing its total stake in HQH from 23.53% to 63.86%.
Last week, Capita Land announced that it was selling stakes in six of its Raffles City developments in China to Ping An Insurance for $ 7.2 billion. The Canada Pension Plan Investment Board (CPP Investments) has also announced that it is reducing its stake in the portfolio. The divestiture will provide PRPC Investments with net proceeds of approximately C $ 800 million ($ 645 million).
Source: Street Asia Affair
The Monetary Authority of Singapore (MAS) has awarded its $ 1.8 billion green investment mandate to BlackRock, BNP Paribas Asset Management, NN Investment Partners, Robeco and Schroders, according to people familiar with the matter.
In June, Managing Director Ravi Menon announced that the central bank would dedicate $ 1.8 billion of official foreign exchange reserves to five asset managers for climate-related investments.
Spokesmen for asset managers declined to comment, while MAS said it was not in its practice to reveal details of manager appointments.
Source: Citywire
