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Sovereign Wealth Funds Briefing 01.Jul 2015

Posted on 01 July 2015 by VRS |  Email |Print

China Investment Corp. is in the running to buy a German highway rest-stop and gasoline-station company that could be valued at about €3 billion, or $3.37 billion, which would be by far the largest Chinese acquisition in Germany, according to people familiar with the matter. The potential bid is the latest sign of the sovereign-wealth fund’s ambitions to boost direct investments in overseas assets.
U.K.-based private-equity firm Terra Firma Capital Partners bought Tank & Rast in 2004 for €1 billion from investors led by Allianz Capital Partners, Apax Partners and Lufthansa. Terra Firma sold half of its stake in the company to Deutsche Bank’s investment arm RREEF. Both are asking suitors to place binding bids by the end of July, people familiar with the transaction said………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Investments in alternative asset classes will reach $15.3 trillion by 2020, driven by demand from emerging sovereign wealth fund investors, PricewaterhouseCoopers (PwC) has predicted. Its report—“Alternative Asset Management in 2020: Fast Forward to Centre Stage” —said demand for sustainable long-term returns would drive more investors away from mainstream equity and fixed-income investments.
The growth would mean assets in the alternatives space doubling in five years—Preqin’s latest data from January 2015 showed $7 trillion invested across hedge funds, private equity, venture capital, private real estate, and infrastructure. Sovereign wealth funds in the Middle East have seen their assets swell despite falling commodity prices, and have hiked up their investments in real estate and infrastructure………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ has earned $113.33 billion from 2001 to June 1, 2015 by developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea.
“The fund gained $3.071 billion in January-May, 2015 within the framework of ACG project, including $549 million in May,” SOFAZ told Trend on June 30. The ACG fields have been active since 1997. Its production first started at the Chirag part of the block. It was followed by Azeri Project; Central Azeri in February 2005, West Azeri in December 2005, and East Azeri in October 2006………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Sovereign wealth funds (SWF) in the GCC are among the world’s largest, with the United Arab Emirates and Saudi Arabia leading the way in second and third place, respectively, just behind Norway. The Scandinavian country’s Government Pension Fund currently holds the world’s largest sovereign wealth fund with $882 billion in assets, according to SWF Institute’s the latest rankings.
The UAE’s Abu Dhabi Investment Authority (ADIA) is estimated to hold $773 billion worth of assets. The kingdom’s Foreign Holdings, which is controlled by the Saudi Arabian Monetary Agency (SAMA), has assets valued at $757.2 billion, followed by Kuwait Investment Authority (KIA) at $548 billion………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Investment Corporation of Dubai (ICD) posted a 63 per cent profit increase last year amid growth in its core businesses, a gain from the transfer of Dubai Aluminium’s assets to Emirates Global Aluminium and a partial sale of its equity in the London Stock Exchange.
ICD’s profit attributable to equity holders rose to Dh23.8 billion last year from Dh14.6bn a year earlier, the sovereign wealth fund said in a statement. Revenues edged up last year 11 per cent to Dh198.4bn from Dh178.3bn a year earlier as the fund’s transportation, oil and gas, banking and financial services units posted strong performance………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed. Net foreign assets at Saudi Arabia’s central bank fell to SAR 2.521 trillion ($672.2 billion) in May, down by $6.6bn or 1.0 per cent from the previous month as the kingdom continued to draw down reserves to cover a budget gap caused by cheap oil.
Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed on Tuesday. The central bank serves as the country’s sovereign wealth fund, storing its earnings from oil exports. Assets’ year-on-year drop is partly due to the strong U.S. dollar, which has cut the value of the portion denominated in non-dollar currencies, but a major part is due to a fiscal drawdown, analysts say………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

Brigade Properties, a joint venture platform between realtor Brigade Group and Singaporean sovereign wealth fund GIC, will be purchasing a Chennai land parcel from Kansai Nerolac Paints for $86 million. The property is 15.86 acres and located in Perungudi, a Chennai suburb.
“The acquisition of the property would be done either directly by Brigade Properties or through its nominee or through a special purpose vehicle wherein Brigade Enterprises or its nominees and GIC Singapore through one of its affiliates would be the shareholders,” Brigade Properties said in an official statement. Final approval for the purchase is subject to legal due diligence………………………………………..Full Article: Source

Posted on 01 July 2015 by VRS |  Email |Print

On the occasion of Chinese Premier Li Keqiang’s visit to France, Gérard Mestrallet, Chairman and CEO of ENGIE, signed a MOU with Ding Xuedong, Chairman and CEO of China Investment Corporation (CIC) in Paris. Premier Li and French Prime Minister Manuel Valls were present at the signing ceremony. Through their new agreement, ENGIE and CIC reinforce their cooperation in the following areas:
Co-investment in large energy projects, particularly renewable energy projects in fast developing countries; Cooperation in new technologies and in energy efficiency fields, especially in China. The cooperation between ENGIE and CIC started in 2011. It was notably marked by the establishment of a fruitful shareholder relationship in ENGIE’s exploration and production activities in which CIC holds a 30% ownership interest. (Press Release)

Posted on 01 July 2015 by VRS |  Email |Print

Mountain View-based Matterport, a company that focuses on virtual reality, raised US$ 30 million in Series C financing from a group of investors. Leading the round was Qualcomm Ventures, a venture unit of Qualcomm Incorporated. Other investors are Singapore’s GIC Private Limited, Lux Capital, DCM Ventures, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, AME Cloud Ventures, iGlobe Partners, Rothenberg Ventures, Luminari Capital, Sling Media founder Blake Krikorian, and Crate & Barrel founder Gordon Segal.
Matterport’s technology can be viewed on virtual reality platforms like Oculus Rift, Samsung Gear VR, and Google Cardboard, as well as through its browser-based application, called 3D Showcase………………………………………..Full Article: Source

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