Saudi Arabia's sovereign wealth fund is building a stake in BT Group by buying its shares on the open market.

A group of 220 investors in South Korea-based Samsung Asset Management Co. Ltd.'s West Texas Intermediate exchange-traded fund has sued the asset manager for allegedly changing the composition of the fund, The Korea Times reports. Investors claim that Samsung changed the composition of WTI ETF on April 22 without first notifying them. The lawsuit follows another suit filed by two investors on the same grounds on April 27.

Turkey's sovereign wealth fund plans to increase the core capital of three state-owned banks by a total of 21 billion Turkish lira ($3 billion) with an aim to support capital structure and adequacy, Reuters reports. The Turkey Wealth Fund owns Ziraat Bank and holds a majority stake in Halkbank. Additionally, it will acquire a stake in Vakifbank as a result of the capital injection.

Saudi Arabia's sovereign wealth fund has bid for U.S.-based Warner Music Group Inc., which is valued at $12.5 billion, Daily Mail reports citing sources. The Public Investment Fund is expected to sign more deals with entertainment businesses in the United States as the country tries to navigate the coronavirus pandemic and the fallout from plunging oil prices, the sources said.    

Qatar's sovereign wealth fund is pledging some of its most high-profile European equity investments to raise a €7 billion ($7.6 billion) loan to bolster its cash reserves amid plunging energy prices, Bloomberg reported citing sources. The Qatar Investment Authority is in discussions with banks including JPMorgan Chase & Co. and UBS Group AG for a margin loan backed by some of its stock holdings.

Norway's sovereign wealth fund, Government Pension Fund Global, has acquired at least 5% stakes in seven U.S.-traded companies since mid-March, Gulf Times reported. These firms include BHP Group Ltd., Liberty Broadband Corp., Carnival Corp. and Royal Dutch Shell PLC, among others.

South Korea-based Mirae Asset Management Co. Ltd. has decided to cancel a $5.8 billion acquisition of 15 U.S. luxury hotels from China-based Anbang Insurance Group Co. Ltd., Korean Investors reports. Mirae said that Anbang's ongoing litigation with a third party over the ownership of six out of the 15 hotels constituted a breach of their contract terms and called for return of the $580 million deposit it had placed in an escrow account.

South Korea-based Mirae Asset Management Co. Ltd. has been sued for missing a deadline to buy 15 U.S. hotels from China's Anbang Insurance Group Co. Ltd. for $5.8 billion, Reuters reports. The deal was originally due to close by April 17 but was delayed because certain conditions were not met by the seller, a spokesman at Mirae said.

More than 511 billion Nigerian naira ($1.3 billion) of Nigeria's National Pension Fund’s assets invested in the capital market may be at risk after the exodus of foreign investors who pulled their money out of the country in the wake of the coronavirus pandemic, The Sun reported citing sources. The amount accounts for around 5% of the pension fund. 

U.K.-based emerging markets-focused investment manager Ashmore Group PLC's assets under management fell 22% to nearly $77 billion at the end of March from more than $98 billion on Dec. 31, as coronavirus-led selloff rocked financial markets, Reuters reports. The company's net outflows amounted to $3.6 billion.

Two Canadian pension funds have completed the tender offer period to purchase 40% stake in Mexican construction and engineering firm Impulsora del Desarrollo y el Empleo en America Latina SAB de CV (IDEAL), Private Capital Journal reported. Following the completion of the deal, Canada Pension Plan Investment Board will own 23.7% of IDEAL, and Ontario Teachers’ Pension Plan Board 16.3%. 

Sujoy Bose, chief executive of India's sovereign wealth fund, has said that the fund plans to tap overseas investors to shore up the capital of its shadow banking unit Aseem Infrastructure Finance Ltd., Livemint reported citing Bloomberg. National Investment & Infrastructure Fund will provide long-tenure loans through the unit, which has set a lending target of as much as 1 trillion Indian rupees ($13.2 billion).

U.K.-based financial services provider Legal & General Group PLC's pension risk-transfer division completed eight deals and secured £261 million ($320 million) of pensioners' benefits in March, Reinsurance News reports. The transactions, which cover U.K. and U.S. pension plans, vary in size from £2.2 million to £80 million.

Abu Dhabi sovereign wealth fund Mubadala Investment Co. PJSC's venture capital arm plans to launch a healthcare fund next year, Deal Street Asia reported citing Reuters. The fund will focus on life sciences and digital health technology following the coronavirus outbreak. 

Pension plans and savings funds in South Korea have been flooded with capital calls from foreign investment firms which are reducing reliance on bank loans for deal financing amid increased market volatility due to the coronavirus outbreak, Korean Investors reports. Earlier, alternative investment firms made capital calls in two or three installments and used low-interest bridge loans from banks before closing a fund to boost internal rates of returns. 

Singapore-based real estate fund manager ARA Asset Management Ltd. has acquired a majority stake in U.K.-based investment manager Venn Partners LLP via its subsidiary ARA U.K. Asset Management Ltd. for an undisclosed amount, Finews reported. ARA will provide cornerstone as well as working capital for the combined entity's investment management business in real asset-backed credit markets in the United Kingdom, continental Europe and other nations.