sovereign wealth fund

Presenting the biggest and most eye-catching transactions in a year plagued by uncertainty and volatility amid the covid-19 pandemic.

We look under the hood of what drove the Australian SWF to undertake a major rebalancing of its private equity portfolio prior to the coronavirus pandemic.

The Australian SWF's exposure to the asset class had grown in recent months due to its relative outperformance and currency moves, according to acting CIO Sue Brake.

Australia's sovereign wealth fund sold more than $2bn of private fund stakes across several transactions.

The world's third-largest sovereign wealth fund sold a portfolio worth $2.4bn to Ardian in 2014.

The Australian SWF has exited around $3.4bn of private markets investments in recent years, according to deputy chief investment officer Wendy Norris.

KKR, Warburg Pincus and TPG-managed funds are included in the Singaporean state investor unit's latest securitised offering.

The sovereign wealth fund is also exploring options for an in-state private equity programme, as PE continues to be a top performing asset class.

Secondaries are part of the sovereign wealth fund's bid to increase its alternatives exposure by 5% over the next two years.

Advisor Townsend recommends the $24.3bn sovereign wealth fund to turn its attention to 'unique situations' such as secondaries.