Weekend Giant Reading, April 12–13, 2014

Here are the top Giant-related stories from the past week.


Here now, the news:

- New SWFs: Kenya has plans to set up a new SWF (even before oil cash begins to flow).

- Fracking incredible: North Dakota’s Legacy Fund is approaching $2 billion.

- Governance: Angola’s SWF now has an audit board! Hooray! Huh. Wait. It reports to the chairman? President’s son? Oh. Never mind.

- Concentration: Singapore’s GIC is buying a single property for $1.3 billion? Big bet!

- AuM: Remember that ‘diaspora wealth fund’ Rwanda launched in 2012? It raised $30M from Rwandans around the world. And now it’s being spent.


- Top Models: Shanghai looks to Singapore’s Temasek as a model to reform Shanghai-base state-owned enterprises.

- Infrastructure I: Saudi Arabia’s Public Investment Fund invests in Casablanca port.

- Infrastructure II: Four Colombian pension funds plan to invest $12B or so in domestic infrastructure.

- Strategery: Norway shows that when politicians are in charge of asset allocation, you get a unique mix of short-term logic mixed with long-term bureaucracy...

- Libya: The Libyan Investment Authority begins to come out of the shadows; presents its plans for the future.

- LP to GP: And the latest LP to convert itself into a GP is... Temasek.

- The Fee Machine: Rolls on.

- Real Estate: The State Oil Fund of Azerbaijan (SOFAZ) is buying up some prime real estate in South Korea.

- Office Space: Singapore’s SWF has launched its 10th (!) regional office. This one is in Brazil.

- New SDFs: Ontario may be launching a new $2.5B sovereign development fund.- Cash: Omantel divestment will result in $500M transfer to Oman’s State General Reserve Fund.

Have a great weekend!