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VRS - who has written 18896 posts on Opalesque Sovereign Wealth Funds Briefing.


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Singapore’s Sovereign-Wealth Fund Is in Talks to Buy Manufactured-Home Owner

Posted on 29 June 2016

Singapore’s sovereign-wealth fund is negotiating to acquire Yes! Communities, an owner of manufactured-housing communities, in a $2 billion deal, according to people familiar with the mater.

CIC Taps Shanghai Deputy Mayor Tu Guangshao As General Manager

Posted on 29 June 2016

China’s sovereign wealth fund China Investment Corp. is to appoint Shanghai’s deputy mayor Tu Guangshao (pictured) as its new general manager, replacing 60-year-old Li Keping who is retiring after heading the entity for the past two years, Chinese state media reported.

Norway oil fund drops investment in Cairn and Kosmos

Posted on 29 June 2016

Norway’s $835bn oil fund has excluded Cairn Energy of the UK and Kosmos Energy of the US from its portfolio over their continuing investment in oil exploration off the coast of Western Sahara.

Norwegian sovereign fund divests companies over Western Sahara

Posted on 29 June 2016

The Norwegian sovereign wealth fund has divested two companies due to their involvement with oil extraction in Western Sahara. Norges Bank Investment Management (NBIM), responsible for the Government Pension Fund Global, said it heeded a recommendation by the Council of Ethics to sell its stakes in Cairn Energy and Kosmos Energy, worth a combined NOK475m [...]

SOFAZ streamlines its financial portfolio management

Posted on 29 June 2016

SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that the State Oil Fund of the Republic of Azerbaijan (SOFAZ) has successfully completed the implementation of SimCorp Dimension.

Azerbaijan’s Oil Fund sold another $50 million through Central Bank’s auction

Posted on 29 June 2016

The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. According to SOFAZ, today it has applied for sale of $50 million and sold them. “31 banks became the buyers,” the Fund said.

Hyperloop One gets an investment from Russia’s sovereign fund

Posted on 29 June 2016

A second Russian fund appears to be involved in Hyperloop One‘s latest $80 million round of financing, which was closed in April. Russia’s sovereign fund RDIF has just announced that it took part in the round, without disclosing, however, the amount of its contribution.

Libyan Fund Officials Didn’t Understand Goldman Trades, Attorney Says

Posted on 29 June 2016

Libya’s sovereign-wealth fund was “astonished to learn” it hadn’t acquired any actual shares through derivatives trades arranged by Goldman Sachs Group Inc., according to a former lawyer for the fund who gave evidence in the High Court in London on Tuesday.

Abu Dhabi’s Masdar in talks for $800 mln loan to fund solar project

Posted on 29 June 2016

A consortium led by Abu Dhabi’s Masdar is aiming to raise an $800 million loan to help fund the building of the 800-megawatt (MW) third phase of Dubai’s solar park, the company’s chief executive said.

Ministerial committee to conduct studies on sovereign wealth fund Amlak

Posted on 29 June 2016

A ministerial committee is set to work with local and international advisory bodies to conduct economic, financial, and administrative studies on Egypt’s proposed sovereign wealth fund Amlak, Al Borsa reported on Monday.

Sovereign Wealth Fund Withdrawals Remain Headwind For Fund Companies

Posted on 29 June 2016

Sovereign wealth funds continue to pull money out of investments with global asset managers, reports Attracta Mooney at Financial Times. SWFs, government-owned investment pools, sopped up petrodollars when oil prices were north of $100 a barrel. In turn, this money was pumped money into funds run by the world’s biggest asset managers.

Sujoy Bose appointed CEO of Indian sovereign wealth fund NIIF

Posted on 28 June 2016

Sujoy Bose was on Monday appointed CEO of India’s maiden Rs 40,000 crore sovereign wealth fund NIIF. At present he is the Director and Global Co-Head of Infrastructure and Natural Resources at Washington-based International Finance Corporation. IFC is the private sector lending arm of the World Bank.

New Zealand Super set to pursue factor investing

Posted on 28 June 2016

New Zealand Superannuation Fund is turning to factor-based strategies to squeeze better long-term returns from the roughly 75% of its NZ$30.3 billion ($21.4 billion) portfolio invested now in passive strategies.

1MDB: Malaysia’s stunning financial scandal

Posted on 28 June 2016

Malaysia has been rocked for more than a year by a financial scandal involving Prime Minister Najib Razak, a state investment firm, and an alleged frenzy of embezzlement stunning in its scope and complexity.

QIA Said to Weigh Pulling Credit Suisse London Office Sale

Posted on 28 June 2016

The Qatar Investment Authority is considering abandoning the sale of 1 Cabot Square, an office building in London’s Canary Wharf financial district leased to Credit Suisse Group AG, according to two people with knowledge of the matter.

Kuwait’s finance min expresses confidence in UK investments

Posted on 28 June 2016

Kuwaiti Finance Minister Anas Al-Saleh said on Monday that the Gulf Arab kingdom’s investments in Britain were “high-quality and long-term”, state news agency KUNA reported.

Norway’s sovereign wealth fund files complaint against VW over emissions scandal

Posted on 28 June 2016

Norway’s sovereign wealth fund has filed a complain against Volkswagen as part of a joint legal action following the carmaker’s emissions scandal.

The State Oil Fund of the Republic of Azerbaijan successfully completes implementation of SimCorp Dimension

Posted on 28 June 2016

SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has successfully completed the implementation of SimCorp Dimension.

SWFs: Investing Directly and Creating Value

Posted on 28 June 2016

Today, when sovereign wealth funds (SWFs) put assets into alternative investments, they are more likely to be direct, rather than passive, investors. One of Canada’s largest pension funds recently bought a significant minority stake in Allflex Group, the global leader in animal monitoring technology, joining Allflex’s leading shareholder, private equity firm BC Partners.

Sovereign funds continue to pull billions from asset managers

Posted on 27 June 2016

Sovereign wealth funds have pulled billions of dollars from asset managers for the seventh consecutive quarter, piling further pressure on an industry battling falling profits and disappointing performance.

Norway $860-billion wealth fund repeats will remain long-term investor in UK regardless of Brexit

Posted on 27 June 2016

Repeats that it will remain a long-term investor in Britain regardless of Brexit vote outcome. Is following the situation after Brexit vote.
Britain is the fund’s second-largest country holding after the United States, representing 10.2 percent of its total value at end-2015………………………………………..Full Article: Source

Norway’s wealth fund files complaint against Volkswagen

Posted on 27 June 2016

Norway’s $850-billion sovereign wealth fund, the world’s largest, has filed a complaint against Volkswagen, as part of a joint legal action following the carmaker’s emissions scandal, the fund said in a statement.

The Future Fund emerges in Port of Melbourne bid

Posted on 27 June 2016

The Future Fund, Australia’s $117 billion sovereign wealth fund, is believed to be seeking to buy a 20 per cent stake in the Australia’s largest shipping container terminal, the Port of Melbourne.

Singapore GIC is prepared for a period of heightened market uncertainty post-Brexit

Posted on 27 June 2016

Singapore’s sovereign wealth fund GIC said on Friday it runs a long-term and diversified portfolio even though about 7 per cent of its portfolio is invested in the United Kingdom, making it the most exposed among Asian state investors after Britain’s shock exit from the European Union (EU).

UAE’s net investment outstrips external debt: Moody’s

Posted on 27 June 2016

The UAE benefits from a large positive net international investment position (IIP) that is far higher than its aggregate external debt, Moody’s Investors Service said. “Although not officially published, historical financial flows, sovereign wealth fund [SWF] assets and external debt data suggest that UAE’s net IIP may be as high as 130 per cent of [...]

Qatar shows its economic resilience and much more

Posted on 27 June 2016

The amount raised in May is considered the biggest-ever bond issued by any government in the Middle East. Not surprisingly, the achievement serves as a vote of confidence by international investors concerning the Qatari economy’s prospects notwithstanding the oil prices.

Qatar fund buying Balmain shows Middle Eastern investors’ hunger for luxury labels

Posted on 27 June 2016

The acquisition of Balmain, the Paris fashion house, by Mayhoola for Investments, a Qatar-based fund, is the latest sign of Middle Eastern investors’ appetite for luxury goods. The spree makes sense: that region’s market is probably the best suited to the industry’s business model and culture today.

Norwegian pension fund dumps Petrobras over corruption

Posted on 24 June 2016

Norway’s largest pension fund has blacklisted Petrobras over concerns that the state-controlled oil company at the centre of a Brazilian bribery scandal is prone to further corruption problems beyond its home market.

More public listings needed to boost growth - Norway’s wealth fund

Posted on 24 June 2016

Developed economies must reverse a two-decade decline in stock market listings to attract investment and revive growth, Norway’s $870 billion sovereign wealth fund, the world’s largest, said on Wednesday.

Azerbaijan’s Oil Fund sells another $50 million through Central Bank’s auction

Posted on 24 June 2016

The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. According to SOFAZ, today it has applied for sale of $50 million and sold them.

BSI Bank appeals regulator’s 1MDB sanctions

Posted on 24 June 2016

Swiss-based private bank BSI is taking the country’s financial regulator to court to appeal “unlawful and disproportionate sanctions” imposed last month in relation to the bank’s business with the Malaysian sovereign wealth fund 1MDB.

Temasek draws diversified crowd to PE-backed CFO

Posted on 24 June 2016

Singapore sovereign investment arm Temasek Holdings executed a landmark transaction this week with its $1.1bn Astrea III securitization backed by cashflows generated by private equity funds. But despite the rarity of the deal and the difficulty in coming up with a price gauge, Temasek managed to expand the appeal of the product to a more [...]

GIC’s Betty Tay appointed to HFSB

Posted on 24 June 2016

The Hedge Fund Standards Board (HFSB), the global standard-setting body for the hedge fund industry, has appointed Managing Director and Head of the External Managers Department at GIC Betty Tay to its board of directors.The board also established the Asia Pacific Committee (APAC Committee).

Can a new owner take ‘Balmania’ to the next level?

Posted on 24 June 2016

So, Mayhoola for Investments — the Qatari sovereign wealth fund that owns Valentino, Anya Hindmarch and Pal Zileri, and that is backed by Qatar’s royal family — has bought Balmain, the Paris fashion house backed by the Kardashians (well, not exactly backed, but they are its biggest cheerleaders). This could have big repercussions on what [...]

Libyan Fund Official Had Never Heard of Goldman ‘In My Life’

Posted on 23 June 2016

A Libyan official who helped review billion-dollar investments with Goldman Sachs Group Inc. said he had never heard of the bank or the word derivative before joining the country’s $60 billion-dollar sovereign wealth fund in 2007.

Fashion house Balmain sold to Qatar’s Mayhoola sovereign wealth fund

Posted on 23 June 2016

The Qatari investment fund that owns the Italian Valentino label will take over the French fashion house Balmain, which has become a favourite of film stars, the adviser for the acquisition has announced.

World’s 2nd-Biggest Sovereign Fund Sees Oil Glut Until Mid-2017

Posted on 23 June 2016

The global oil glut will probably persist until at least next summer as markets take time to absorb excess crude in storage, according to the head of research at the world’s second-largest sovereign wealth fund.

More public listings needed to boost growth - Norway’s wealth fund

Posted on 23 June 2016

Developed economies must reverse a two-decade decline in stock market listings to attract investment and revive growth, Norway’s $870 billion sovereign wealth fund, the world’s largest, said on Wednesday.

GIC said to be selling two Paris buildings

Posted on 23 June 2016

Singapore sovereign wealth fund GIC is in talks to sell two buildings in the Paris central business district valued at about €500 million (S$756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions.

GIC, Blackstone among investors interested in DLF’s rental arm stake

Posted on 23 June 2016

Global investors that have submitted expressions of interest for acquiring a stake in realty firm DLF Ltd’s rental arm include both sovereign wealth funds such as Government of Singapore Investment Corp. Pte Ltd (GIC), Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB), and private equity firm Blackstone Group Lp.

Temasek’s unit issues $510 mln private equity bonds in Singapore

Posted on 23 June 2016

A unit of Singapore state investor Temasek Holdings issued on Wednesday $510 million worth of bonds backed by cash flows from 34 private equity funds. The bonds, which were subscribed more than eight times, were aimed at tapping investors in private equity beyond the traditional base of a select group of wealthy individuals.

India eases foreign investment rules for airlines

Posted on 22 June 2016

India eased rules for foreign investment in the country’s aviation sector in a bid to boost air travel and develop new airports in Asia’s third-largest economy. Indian carrier IndiGo’s CEO Akbar Al Baker had earlier said Qatar attempted to invest at the time of IndiGo’s IPO but government regulations and lack of time prevented the [...]

GIC said in talks to sell $756 mil Paris offices to SocGen

Posted on 22 June 2016

GIC, Singapore’s sovereign wealth fund, is in talks to sell two buildings in Paris’s central business district valued at about 500 million euros ($756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions.

Temasek pares stake in China Construction Bank

Posted on 22 June 2016

Temasek Holdings has pared its stake in China Construction Bank (CCB), the lender said in a filing to the Shanghai Stock Exchange. Temasek unit Fullerton Financial Holdings sold 555 million Hong Kong-listed shares of CCB at HK$5.01 (87 Singapore cents) apiece on June 16, for HK$2.78 billion in total.

CCB shares little changed after Temasek cuts stake

Posted on 22 June 2016

Shares of China Construction Bank (CCB) are moving in a narrow range on the Hong Kong stock market. Selling of CCB shares increased after the bank on Monday announced that Temasek Holdings, a Singapore sovereign wealth fund, has sold 555 million CCB shares, or 0.22% of the bank’s outstanding shares.

What You Need to Know About Abu Dhabi’s Plan for a Megabank

Posted on 22 June 2016

National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, the two largest banks in the oil-rich emirate of Abu Dhabi, said on Sunday that they’re in early stage merger talks. Given both NBAD and FGB’s ties to the government — NBAD is 69 percent owned by sovereign wealth fund Abu Dhabi Investment Council [...]

SOFAZ sells $50M at auction to local banks

Posted on 22 June 2016

The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 28 banks through an auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said June 21.

Failure to create sovereign wealth fund ‘real missed opportunity’: NDP

Posted on 22 June 2016

The Saskatchewan government’s failure to act on a three-year-old report recommending the establishment of a sovereign wealth fund is a “real missed opportunity,” according to the interim leader of the Opposition NDP.

Bahrain’s SWF has no plans to borrow this year-CEO

Posted on 21 June 2016

Bahrain’s sovereign wealth fund Mumtalakat plans to finance its projects this year using income from investments and will not seek loans or government assistance, its chief executive said.

SOFAZ announces gold reserves portfolio

Posted on 21 June 2016

Currently, Azerbaijan’s state oil fund SOFAZ has no plans to convert purchased gold to other assets, as well as purchase additional gold, the Fund said. As for gold investments strategy, SOFAZ said these investments have been chosen for strategic purposes, but not short-term speculative targets.

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