SWFs, money managers see new alternative investment opportunities in Europe

BY DOUGLAS APPELL

SEPTEMBER 26, 2013

Europe will offer growing investment opportunities over the next few years, according to sovereign wealth fund executives and money managers Thursday at the Skybridge Alternatives Conference in Singapore.

 

Speaking on a panel, Jeffrey Jaensubhakij, managing director and president of GIC Asset Management, an arm of Singapore's more than $100 billion sovereign wealth fund, said Europe will offer “considerable opportunities” as banks there deleverage. Evidence over the past year that eurozone policymakers will do whatever is necessary to maintain the trade bloc should give investors more confidence to pursue those opportunities, he said.

 

On the same panel, Adriaan Ryder, chief investment officer of the A$70 billion (US$65.8 billion) Queensland Investment Corp., Brisbane, agreed, predicting growing investment opportunities in Europe for “a number of years,” in market segments such as distressed debt and distressed real estate.

 

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On a separate panel, Roslyn Zhang, managing director, fixed-income and absolute-return investments with the $575.2 billion China Investment Corp., Beijing, pointed to hedge funds focused on Europe as a segment that looks especially attractive over the next few years. Explaining the CIC's approach to its hedge fund portfolio, Ms. Zhang said while the CIC is a long-term investor, that doesn't mean its allocations are “frozen money.”

 

“Every strategy has its cycle,” and the CIC team “looks out over the next 24 months” to discern the most, and the least, attractive opportunities, Ms. Zhang said.

 

At present, looking out over the coming 24 months, the CIC team is spending time looking at Europe, where the market opportunities are picking up, Ms. Zhang said.

 

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