Weekly Digest: Mubadala targets APAC private credit; GPIF picks 16 asset managers for equities
TOP NEWS OF THE WEEK
Abu Dhabi sovereign wealth fund Mubadala Investment Company and Goldman Sachs have inked a $1 billion separately managed account partnership in which they will co-invest in private credit opportunities throughout the Asia Pacific region.
The partnership will invest across the private credit spectrum and is expected to invest across multiple Asia Pacific markets with a particular focus on India.
The partnership will be managed by private credit division at Goldman Sachs Alternatives.
Source: Goldman Sachs
The Government Pension Investment Fund (GPIF) has hired 16 asset managers to for a total of 23 active domestic equity mandates.
The managers was hired in December but was published recently on the GPIF website and include both Japanese and overseas asset management firms active in Japan.
Source: GPIF
OTHER INVESTMENT NEWS
AUSTRALIA
Four major Australian super funds — Cbus Super, CareSuper, Hostplus, and Rest — along with IFM Investors, are investing in the housing sector to provide social and affordable housing.
The super funds collectively manage around A$505 billion ($330 billion) and have the capacity to invest at scale.
They aim to generate returns for their members and support the government's Housing Affordability Future Fund (HAFF) goals to create 40,000 new homes within five years.
Source: IFM Investors
CHINA
The International Finance Corporation (IFC), a member of the World Bank Group, is proposing to take an equity stake in Fosun United Health Insurance in a deal worth up to Rmb270 million ($37.5 million).
In an information sheet, IFC said that it will subscribe to new shares issued by Fosun United.
The Guangzhou-headquartered company was founded by the Chinese conglomerate Fosun International and five other shareholders in 2017.
Fosun International currently holds a 20% stake in the company.
Source: Asia Insurance Review
INDIA
The National Investment and Infrastructure Fund Limited (NIIF) committed Rs207 crores ($25 million) from NIIF Fund of Funds – I, the first fund under its Private Markets business (PMF- I) to Amicus Capital Partners India Fund II (Amicus Capital Fund II).
With a target size of $200 million, Amicus Capital Fund II will invest across sectors such as speciality manufacturing, technology & business services, healthcare, financial services, and other sectors.
Source: NIIF
KOREA
The National Pension Service (NPS) plans to select up to three asset managers for domestic equity mandates to focus on value stocks.
NPS said the investment size and timing of the fund allocation were to be determined based on portfolio management and financial market conditions. Deadline for managers to apply is February 29.
Source: NPS
A group of pensioners filed a lawsuit against the National Pension Service (NPS) chairman and other key executives on February 22 due to NPS' lack of policies to restrict investments in coal.
The date marks exactly 1,000 days since the NPS announced its coal phase-out initiative on May 28, 2021, aimed at restricting investments in coal mining and power generation.
According to the plaintiffs, however, no substantial plans or actions have been implemented since the announcement.
The NPS said it had ceased investments in new power plant projects, both domestically and internationally, since the initiative was announced. It also said it conducted research to establish guidelines and criteria for investing in coal mining and the power generation sector.
Source: Korea Times
The Yellow Umbrella Mutual Aid Fund sent out a request for proposals for a mandate of up to W600 billion ($451 million) targeting domestic real estate debt.
The mutual aid, operated by the Korea Federation of Small and Medium Business also known as KBIZ, is looking for two managers, with one receiving up to W350 billion and the other up to W250 billion. Deadline for applications is March 8.
Source: Yellow Umbrella
MALAYSIA
Pension fund Kumpulan Wang Persaraan (KWAP) made its first batch of investments made under its Dana Perintis strategy.
The investments, which amount to RM100 million ($20.9 million), comprise two direct investments in Malaysian startups and two venture capital (VC) fund commitments.
Launched in September 2023 with a targeted total deployment of RM500 million, Dana Perintis is designed to accelerate the development of Malaysian early-stage businesses.
Source: KWAP
The above briefs are curated from press releases and third-party media sources.