Sat, Oct 1, 2016
A A A
Welcome mteam
RSS

Author Archives | VRS

VRS - who has written 19515 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Singaporean sovereign wealth fund snaps up £700m of UK student digs

Posted on 30 September 2016

Singapore’s sovereign wealth fund GIC and student accommodation developer GSA have bought a £700m portfolio of student halls – the largest deal in the sector this year. The pair acquired the portfolio from funds managed by Oaktree Capital Management, along with a new operating platform, The Student Housing Company, which is the brand the halls [...]

Drama aplenty as SMRT shareholders vote yes on Temasek buyout

Posted on 30 September 2016

After nearly four hours in an extraordinary general meeting and scheme meeting which were chock-full of incidents — a technical glitch hitting the voting system, shareholders jeering and a disgruntled investor berating the chief executive — an overwhelming majority of SMRT shareholders supported the privatisation offer by parent firm Temasek Holdings on Thursday (Sept 29).

SMRT shareholders give thumbs-up to Temasek buyout offer, after voting to sell rail assets to Government

Posted on 30 September 2016

SMRT Corp shareholders have given the thumbs-up to the privatisation offer by Temasek Holdings. This was the second meeting of the day, coming after a vote to sell off SMRT’s train and other rail assets to the Government as part of the New Rail Financing Framework deal struck in July. That vote also went through [...]

HKMA in Frankfurt promotes Hong Kong’s role in capitalising China opportunities

Posted on 30 September 2016

The following is issued on behalf of the Hong Kong Monetary Authority: The Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan, was in Frankfurt on September 28 (Frankfurt time) to promote Hong Kong’s role in capitalising the rising China opportunities.

DAP MP submits motion to compel tabling of 1MDB audit

Posted on 30 September 2016

DAP’s Taiping MP Nga Kor Ming today submitted a motion to Parliament, seeking the tabling of the auditor-general’s report on 1MDB, which is still classified under the Official Secrets Act.

Blackstone-backed Sithe said to get final bids for Asia plant

Posted on 30 September 2016

A group comprising Kuwait Investment Authority and private equity firm CVC Capital Partners is among final bidders for Sithe Global Power LLC’s stake in a Philippine power plant that could fetch at least US$500 million, people with knowledge of the matter said.

NSIA targets $1.6bn investment for Nigeria

Posted on 30 September 2016

The Nigeria Sovereign Investment Authority (NSIA), has announced its plan to attract about $1.6 billion co-investment in the nation’s infrastructure sector. This is even as the managers of the country’s Sovereign Wealth Fund (SWF) announced its plan to start distributing its dividends to shareholders of the fund by next year.

How Goldman Sachs Lost $1.2 Billion of Libya’s Money

Posted on 30 September 2016

When Wall Street’s most aggressive bank took on the world’s most incendiary client, someone was going to make a killing. Moammar Qaddafi’s Libya was a miserable place for a business trip.In 2008, a few years after renouncing its nuclear and chemical weapons program, the desert nation remained a menacing and ugly place, with cratered highways, [...]

SOFAZ to reduce transfers to state budget in 2017

Posted on 30 September 2016

Transfers of Azerbaijan’s state oil fund SOFAZ to the state budget is expected at the level of 6.1 billion manats (1.6252 AZN/USD on Sept. 29) in 2017 that is by 1.515 billion manats (19.9 percent) less than in 2016, according to the presentation of the state and consolidated budget projects for 2017 that was made [...]

SOFAZ revenues forecasted to increase by 2.4 times

Posted on 30 September 2016

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) are forecasted to be AZN 8,370,600,000, up AZN 4,889,100,000 or 2.4 times from 2016. According to the Ministry of Finance, of this AZN 7,550,700,000 or 90.2% will be receipts from profit oil and gas sale.

Azerbaijan’s Oil Fund and Central Bank oversupply market with currency: their total supply exceeds demand 3.1-fold at currency auction

Posted on 30 September 2016

The State Oil Fund (SOFAZ) and the Central Bank increased the currency oversupply during its centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.

Amount of 2016 Permanent Fund Dividend to be $1022

Posted on 30 September 2016

The amount of this year’s Alaska Permanent Fund Dividend was announced by the Governor on Friday, September 23: every Alaskan will receive $1,022, less than half the amount of last year’s dividend.

US Hedge Fund Hit With $200Mln Bribery Fine to Win Government Investments

Posted on 30 September 2016

The Och-Ziff Capital Management Group has agreed to pay nearly $200 million in penalties for bribing officials to gain investments from sovereign wealth funds, the US Securities and Exchange Commission (SEC) announced in a press release on Thursday.

Greece passes electricity market reform, sets sovereign wealth fund

Posted on 29 September 2016

Greek lawmakers passed reforms sought by the country’s creditors to cut pension spending and expedite privatisations in exchange for financial aid under the country’s latest international bailout.

Blackstone-Backed Sithe Said to Get Final Bids for Asia Plant

Posted on 29 September 2016

A group comprising Kuwait Investment Authority and private equity firm CVC Capital Partners is among final bidders for Sithe Global Power LLC’s stake in a Philippine power plant that could fetch at least $500 million, people with knowledge of the matter said.

KIA, GIC in groups bidding for Philippine power plant stake

Posted on 29 September 2016

A group comprising the Kuwait Investment Authority (KIA) and private equity firm CVC Capital Partners is among final bidders for Sithe Global Power’s stake in a Philippine power plant that could fetch at least US$500 million (S$680 million), people with knowledge of the matter said.

KIC sources for data vendor to support its alternative investments

Posted on 29 September 2016

Korea’s sovereign wealth fund Korea Investment Corporation (KIC) has issued a request for proposal (RFP) to invite bids from data vendors to provide alternative investment data management services. The duration of the appointment would be three years.

Former GIC manager launches robo-advisor for institutional investors

Posted on 29 September 2016

ClearMacro has launched the world’s first robo-research platform, enabling institutional investors to independently optimise thier asset allocation decisions. The robo-advisor, which was launched on 27 September, hasn’t yet attracted any paying clients from the pensions industry.

Finance firms upend HKMA’s lending caps on property, adding fuel to red hot market

Posted on 29 September 2016

Two finance firms are challenging the Hong Kong Monetary Authority’s mortgage lending caps , offering more financing than current bank loans to attract new borrowers ahead of a possible interest rate increase in December.

Big investors like Norway’s wealth fund should use heft to increase growth potential -study

Posted on 28 September 2016

Norway’s $887 billion sovereign wealth fund and other institutional investors should invest in illiquid, unlisted assets in emerging economies if they want to make money in the future, a leading expert on the fund said on Tuesday.

Emerging Economies to Counter Big Chill in Returns, Norfund Says

Posted on 28 September 2016

Institutional investors should look to emerging markets to avoid a toxic combination of falling financial returns and higher political risk in the developed stock and bond markets. The Norwegian sovereign wealth fund, the world’s biggest, is seeking to expand its investment universe into unlisted infrastructure investments to take advantage of its size.

Azerbaijani banks buy over $70M through auction

Posted on 28 September 2016

Some $70.2 million were sold to 20 Azerbaijani banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 27, CBA said in a message Sept. 27.

Oil Fund and Central Bank of Azerbaijan hold currency oversupply

Posted on 28 September 2016

The State Oil Fund (SOFAZ) and the Central Bank hold the currency oversupply during its centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction. “At the auction SOFAZ, putting an application for $100 million, sold $70.2 million to 20 banks,” SOFAZ said.

Azeri oil fund Sofaz sells $70 mln on market on Tuesday

Posted on 28 September 2016

Azerbaijan’s state oil fund Sofaz said it had sold $70 million on the foreign exchange market on Tuesday.

UBS Shareholder GIC Voices Rare Rebuke

Posted on 28 September 2016

Singapore’s sovereign wealth fund GIC is UBS’ largest shareholder, amassing a 6.4 percent stake in the Swiss bank during the financial crisis. The discreet fund’s head has some stern words over recent scandals.

Fed Okays Fortis Inc. and GIC Acquisition of ITC Holdings Corp

Posted on 28 September 2016

Fortis Inc, ITC Holdings Corp. and GIC Private Limited (GIC) announced that the Federal Energy Regulatory Commission (FERC) has authorized the acquisition of ITC by Fortis and a subsidiary of GIC. “This ruling from FERC is a key milestone toward finalizing the transaction,” said Barry Perry, President and Chief Executive Officer of Fortis. “We appreciate [...]

PM says Malaysia will cooperate with US investigation of 1MDB funds

Posted on 28 September 2016

Malaysian Prime Minister Najib Razak on Tuesday said his country would cooperate with U.S. and other international authorities investigating the misappropriation of funds from a Malaysian state-owned fund that he founded.

IDE: 1MDB has little effect on Malay BN voters in S’gor

Posted on 28 September 2016

It appears the controversy surrounding 1Malaysia Development Berhad (1MDB) has not affected the loyalty of Malay BN supporters in Selangor for Prime Minister Najib Razak. A statewide survey by Selangor’s Institute Darul Ehsan (IDE) found that some Malay voters in the state’s Malay-majority constituencies will continue to pledge their support for Najib and his BN [...]

LIA on track with multi-million dollar litigations to recover wealth of the Libyan people

Posted on 28 September 2016

Things are uncertain at the moment, even by Libya’s standards. Key terminals in Libya’s eastern and western oil facilities have been held hostage for years, with oil production at a minimum. Oil exports, on which the economy sorely relies, are at a virtual standstill. The country’s liquidity crisis is ongoing.

SOFAZ’s transfers to state budget to be cut by 1.5B AZN

Posted on 27 September 2016

Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget will be reduced by 1.5 billion manats (official exchange rate for Sept. 26 is 1.6292 AZN/USD) in 2017, Samir Sharifov, Azerbaijani finance minister, told reporters in Baku Sept. 26.

Transfers from SOFAZ

Posted on 27 September 2016

The transfers of the State Oil Fund of Azerbaijan (SOFAZ) to the state budget are expected to be lower than the indices fixed in 2016. Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget will be reduced by 1.5 billion manats ($0.92) in 2017, as the country must pay more attention [...]

Qatar withdraws from race for Grosvenor House and New York Plaza

Posted on 27 September 2016

The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers.

Qatar-Indonesia joint investment fund in ‘final stages’

Posted on 27 September 2016

The $1bn joint investment fund (JIF) by Qatar and Indonesia is nearing its final stages, and is expected to fund major infrastructure and energy projects, an official has said. Special envoy to the Indonesian president for Middle East Affairs Dr Alwi Abdurrahman Shihab said Indonesia’s share of the JIF (15%) “is ready.” He also said [...]

Scientific studies in UAE ‘need more funding’

Posted on 27 September 2016

A Saudi report on scientific research in the Arabian Gulf shows that the UAE needs to boost funding for such studies, academics say. The UAE was lagging behind Saudi Arabia in the number of scientific studies published, according to the study conducted in 2014 and last year by the college of medicine at King Saud [...]

Saudi Aramco evaluating foreign exchanges for 2018

Posted on 27 September 2016

Saudi Aramco is looking at a number of foreign exchanges, including London, New York and Hong Kong, for a partial listing of the oil giant in 2018, chief executive Amin Nasser said. The state-oil firm plans to list as much as 5 per cent on Saudi Arabia’s stock exchange, the Tadawul, and at least one [...]

Rahejas eyes deal with Temasek

Posted on 27 September 2016

K Raheja Corp, one of the largest developers of IT parks, is in talks with Singapore-based Temasek Holdings and American private equity firm Warburg Pincus to sell stake in its office space holding company, said a source in the know.

1MDB scandal is quite damaging, concedes Nazir

Posted on 27 September 2016

In an interview with the magazine Euromoney, CIMB bank chairperson Nazir Razak shares his views on the 1MDB scandal and being dragged into the imbroglio. Published in its September issue, the article’s writer noted how two days before the meeting with Nazir, a brother of Prime Minister Najib Abdul Razak, the United States Department of [...]

1MDB suit by Husam, Chang frivolous, says Azalina

Posted on 27 September 2016

Lawyer Matthias Chang and former PAS Vice-President Husam Musa’s decision to drop their class action suit showed their claims were frivolous and baseless, said an Umno minister. Minister in the Prime Minister’s Department in charge of law Azalina Othman Said said furnishing additional facts for a lawsuit did not require the action to be withdrawn [...]

Khazanah sees continuation of pro-growth, pro-society focus

Posted on 27 September 2016

Khazanah Nasional Bhd sees a continuation of a pro-growth and pro-society focus in the upcoming Budget 2017. Managing Director Tan Sri Azman Mokhtar said the budget would also like to be fiscally responsible on the back of a challenging global economic environment.

Future Fund may not buy more infrastructure: Peter Costello

Posted on 26 September 2016

Future Fund chairman Peter Costello has warned that the $125 billion fund might have sated its appetite for infrastructure assets by the time the Queensland government accepts reality and reverses its anti-privatisation position.

Taking a look at Temasek’s bid to privatise SMRT

Posted on 26 September 2016

Singapore’s stock market is witnessing an interesting trend. A number of high-profile companies have either delisted, or announced their intention to do so. However, no other company’s proposed privatisation has generated as much interest as that of SMRT.

CIC said to review Engie SA’s unit stake

Posted on 26 September 2016

Sovereign fund China Investment Corp is reviewing options for its 30 percent stake in French multinational electric utility Engie SA’s exploration and production business, which it had bought for 2.3 billion euros in 2011.

National Investment and Infrastructure Fund

Posted on 26 September 2016

Nineteen months after the announcement was made in FY16 Budget, the National Investment and Infrastructure Fund (NIIF) will commence operations next month with a $1-billion corpus for the highway sector and another fund of the same size for the renewable energy industry, according to official sources.

An Asean Government Investment Fund Lost RM73 Billion Last Year

Posted on 26 September 2016

One of the Asean region’s biggest soveriegn fund has been hit by its first loss in 7 years. While local detractors of Malaysia’s ruling government have continued their smear campaign against state-owned investment fund 1MDB and making it appear as a huge failure due to losses, it is Singapore’s state investment giant Temasek Holdings which [...]

Libyan sovereign fund recovers $127 million from Lehman, Cornhill Capital

Posted on 26 September 2016

Libya’s $67 billion (£51.6 billion) sovereign wealth fund has recovered $73 million from the bankrupt Lehman Brothers and $53.8 million from Cornhill Capital after lengthy legal battles, the fund said in a statement.

Qatar withdraws from race for Grosvenor House and New York Plaza

Posted on 26 September 2016

The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers.

Norway’s shopping spree for North American real estate continues

Posted on 23 September 2016

The Norwegian Sovereign Wealth fund is pursuing a strategy to increase its portfolio weight of real estate assets to about 5% within the foreseeable future - planning to increase the weight by 1% per year until 2020, with a corresponding decrease in bond holdings.

Pretty Much Every Norwegian Citizen Is a Millionnaire

Posted on 23 September 2016

Norway’s “Pension Fund Global” is the biggest sovereign-wealth fund in the world, worth an estimated $882B (more than double the national GDP). Not bad for a country with a population of just over 5m people.

It’s (Still) Good to be Norway

Posted on 23 September 2016

The country created a government-run pension fund in the 70s and began investing profits abroad in 1990. Today, according to The Economist, “No sovereign-wealth fund is bigger. It owns more than 2% of all listed shares in Europe and over 1% globally. Its largest holdings are in Alphabet, Apple, Microsoft and Nestlé, among 9,000-odd firms [...]

UK sovereign fund appoints two on ARM Cement board

Posted on 23 September 2016

UK’s sovereign wealth fund CDC Group has appointed two directors to the board of cement manufacturer ARM in which it recently acquired a 40.6 per cent stake for Sh14.1 billion. The fund appointed Pepe Meijer and Ketso Gordhan to the board of the Nairobi Securities Exchange-listed company.

banner
banner
banner
banner
October 2016
M T W T F S S
« Sep    
 12
3456789
10111213141516
17181920212223
24252627282930
31