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VRS - who has written 14460 posts on Opalesque Sovereign Wealth Funds Briefing.


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Mubadala Petroleum signs Cooperation Agreement with Somalia

Posted on 18 July 2014

Mubadala Petroleum has signed a cooperation agreement with the Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia. Mubadala Petroleum is and upstream oil and gas exploration and production company, a subsidiary of Mubadala Development Company and 100 percent owned by the Government of Abu Dhabi.

Bahamian govt in sovereign wealth fund plans

Posted on 18 July 2014

The Government’s draft oil exploration legislation contains provisions for the creation of a Bahamian sovereign wealth fund, which would receive all due multi-million dollar royalty payments on any ‘black gold’ under this nation’s water.He confirmed that provisions to create a Bahamian sovereign wealth fund, which would be owned and managed by the Government on the [...]

Russian sovereign wealth fund launches Chinese webpages

Posted on 17 July 2014

The Russian Direct Investment Fund, a sovereign wealth fund, launched a Chinese version of its “Invest in Russia” information portal Wednesday. The portal is tailored for Chinese users and contains specific data on Sino-Russian economic, trade and investment cooperation.

A world without water

Posted on 17 July 2014

Norway’s huge $890bn oil fund, the world’s biggest sovereign wealth fund, is one of several large investors urging companies to improve their reporting. It cites what Jan Thomsen, its chief risk officer, has described as “increasing water scarcity and adverse water-related events” that could affect its long-term returns.

Qatar’s outward FDI increases to $8.02bn

Posted on 17 July 2014

Qatar’s outward foreign direct investment (FDI) flow surged to a huge $8.02bn last year, accounting for 14 percent of the country’s gross fixed capital formation or GFCF compared to 3.4 percent a year ago.

NSIA gets transparent rating

Posted on 17 July 2014

The Nigerian Sovereign Investment Authority (NSIA) has received improved rating as sovereign wealth fund (SWF) by Linaburg-Maduell transparency index administered by Sovereign Wealth Institute. In the official statement announcing the second quarter ratings, the Institute singled out NSIA for special mention, stating that the NSIA has been upgraded to nine points out of a possible [...]

Qatar Bank Masraf Gives JV Sale Details After Bourse Suspension

Posted on 17 July 2014

Qatari lender Masraf Al Rayan offered more detail into the sale of its stake in a real estate joint venture to a state fund on Tuesday, after the country’s stock exchange suspended the bank’s shares for a lack of clarity on the deal.

BRICS Making a Bank, RDIF Gets Involved

Posted on 16 July 2014

The Russian Direct Investment Fund, or RDIF, will create a multi-billion dollar infrastructure investment fund together with sovereign wealth funds from the BRICS group of developing countries. he joint fund will invest in the equity capital of BRICS infrastructure projects, the RDIF said Monday on its website, adding that its international partners had pledged their [...]

GIC said to have backed out of Tokyo property deal

Posted on 16 July 2014

Singapore sovereign wealth fund GIC has backed out of buying a Tokyo property from Lone Star Funds due to a legal dispute over the property’s ownership, said people familiar with the transaction.

Lone Star reopens Tokyo property deal as GIC talks stall

Posted on 16 July 2014

Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter.

Chasing Yield, Its Not Just Japan, SWFs Join The Hunt

Posted on 16 July 2014

Real estate is a beneficiary, as is the stock market, and “they are taking money out of the debt markets,” says Barry Sternlicht, chairman and CEO, Starwood Capital. His last point is interesting considering the widespread low yields in government debt and corporate paper (if SWFs are selling, someone is buying). Anyway, like we’ve all [...]

Kazakhstan’s Air Astana sees possible IPO in 2016

Posted on 16 July 2014

Air Astana (KC, Astana) is considering going public over the next two or three years president Peter Foster, has announced. The Wall Street Journal quotes Foster as saying an IPO had become a necessity given its ambitious expansion plans.

ECA swells to $4.05b

Posted on 16 July 2014

The balance in the Excess Crude Account (ECA) has increased to $4.05 billion, following the approval by the Federation Account Allocation Committee (FAAC) for the transfer of N50.35 billion into the ECA.

NSIA gets transparency upgrade

Posted on 16 July 2014

The Nigeria Sovereign Investment Authority (NSIA) has received improved rating as a sovereign wealth fund by the Linaburg-Maduell transparency index administered by the Sovereign Wealth Institute. In the official statement announcing the second quarter 2014 ratings, the Institute singled out the NSIA for special mention stating that NSIA has been upgraded to nine points [...]

The LIA and Libya’s struggle to move on

Posted on 15 July 2014

News that Abdulmagid Breish has been removed from his position as chairman of the Libyan Investment Authority brings yet another tortuous diversion to the troubled institution’s management. But does it make much of a difference to the fund’s ambitions?

Singapore’s wealth fund expands China holdings

Posted on 15 July 2014

Temasek Holdings Pte Ltd has increased its exposure to Chinese markets over the past year, even as Asia holdings weighed on its performance and the Singaporean investor turned to the West for growth.

Temasek, Blackstone Group bet on Chinese economy

Posted on 15 July 2014

Singapore’s sovereign wealth fund Temasek Holdings and American asset management firm Blackstone Group both maintain a positive outlook for the Chinese economy despites its slowing growth, reports the Shanghai Securities News. Both of the companies’ senior managers said markets have been overly concerned with China’s slower growth and predicted that a major financial crisis is [...]

New Zealand Superannuation Fund Invests In Manuka Health

Posted on 15 July 2014

The New Zealand Superannuation Fund (NZSF), via Waterman Capital, in May 2012 took a stake in natural health products company Manuka Health New Zealand Ltd. Waterman Capital is a private equity investor contracted by NZSF – the New Zealand Government’s sovereign investment fund – to invest in New Zealand’s most promising companies. Watermans owns 20% [...]

CIMB Merger Plans Puzzling

Posted on 15 July 2014

CIMB’s plans to merge with RHB Capital and Malaysia Building Society to create Malaysia’s biggest bank by asset size, is a puzzling move. CIMB and RHB had previously ditched plans to merge because their businesses overlap.

Calpers, Calstrs Report 18% Gain on Investment for Year Ended June 30

Posted on 15 July 2014

The nation’s two biggest pension funds reported investment gains of at least 18% for the fiscal year ending June 30, bolstering their coffers even as they continue to battle persistent shortfalls.

Qatari Diar to Own Seef Lusail Real Estate Development

Posted on 15 July 2014

Masraf Al Rayan announced yesterday it has entered into an agreement to sell its equity stake in Seef Lusail Real Estate Development Company. Seef Lusail Real Estate Development Company WLL was owned equally by Masraf Al Rayan and Qatari Diar Infrastructure Company.

India: ‘No plans now to set up sovereign wealth fund’

Posted on 14 July 2014

India is not looking to set up any sovereign wealth fund (SWF) for now, Finance Secretary Arvind Mayarm has said. “We don’t think we have reached a stage where we can now commit our forex reserves to a SWF and start investing all around the world,” he said.

GIC Said to Have Backed Out of Lone Star’s Tokyo Property Sale

Posted on 14 July 2014

GIC Pte, Singapore’s sovereign wealth fund, backed out of buying a Tokyo property from Lone Star Funds, according to people familiar with the transaction. GIC, which had entered exclusive negotiations with the U.S. fund, withdrew from pursuing Meguro Gajoen, an office and banquet hall complex in Tokyo, because of a dispute between two other parties [...]

Bigger govt role needed in green finance

Posted on 14 July 2014

The government can play a more powerful role than capital market in encouraging financial investment flowing into sustainable development businesses, said Gao Xiqing, former president of China Investment Corporation, China’s key sovereign wealth fund.

New Zealand Superannuation Fund Invests in Manuka Health

Posted on 14 July 2014

The New Zealand Superannuation Fund (NZSF), via Waterman Capital, has taken a 20% stake in natural health products company Manuka Health New Zealand Ltd. Waterman Capital is a private equity investor contracted by NZSF – the New Zealand Government’s sovereign investment fund – to invest in New Zealand’s most promising companies.

Masraf Al-Rayan sells Seef Lusail stake to govt fund

Posted on 14 July 2014

Masraf Al-Rayan, Qatar’s largest Islamic bank by market value, said on Sunday it had agreed to sell its 50 percent stake in Seef Lusail Real Estate Development Co. to the real estate arm of the Gulf state’s sovereign wealth fund.

Kazakhstan’s National Fund reaches $77 billion

Posted on 14 July 2014

The National Fund of Kazakhstan has reached $77 billion, Kazakhstan National Bank Chairman Kairat Kelimbetov said yesterday during his meeting with President Nursultan Nazarbayev, the presidential press service reported.

Why Putin’s Raid on Wealth Fund Won’t Cure What Ails Russia

Posted on 11 July 2014

President Vladimir Putin’s government is blowing a hole in Russia’s finances by unsealing one of its rainy-day funds, all for a growth spurt that will fizzle out, according to the Finance Ministry’s debt chief.

Kazakhstan announces its international reserves figure

Posted on 11 July 2014

Aggregated international reserves of Kazakhstan comprising the gold and FX reserves of the Central Bank and assets of the National Oil Fund grew from January 2014 to June 2014 from $95.507 billion to $103.078 billion, according to the Central Bank’s Press Service.

Sound governance, clear mandate help Temasek beat market: report

Posted on 11 July 2014

Sound corporate governance and a clear business mandate have helped Temasek Holdings and government-linked companies (GLCs) in Singapore perform better than the market, said a report on Friday. The study, entitled “The State as a shareholder: The case of Singapore,” was done before Temasek released its results.

Temasek’s portfolio gains include US$4b from government

Posted on 11 July 2014

Temasek Holdings Pte’s performance was helped by a S$5 billion (RM112.78 billion) capital injection from Singapore’s Ministry of Finance, according to the state-owned investment firm’s annual report.

Kazkom Completes BTA Purchase

Posted on 11 July 2014

Kazkommertsbank (KKB), one of the largest banks in Central Asia, has announced it has completed the acquisition of BTA Bank, the Times of Central Asia reports. On June 30, 2014, as per their earlier agreements, Kazkommertsbank and Kenes Rakishev, a 34-year-old businessman and venture investor, each bought a 46.5% share in BTA Bank from Kazakhstan’s [...]

Tanzania: Sovereign Wealth Fund Formation - Dar Needs to Tread Carefully

Posted on 11 July 2014

Tanzania is on course to establish a Sovereign Wealth Fund to manage proceeds from oil and gas finds, but experts caution that to reap maximum benefits from its resources, the country must have in place effective mechanisms to foster good governance and transparency.

Qatar sells $443 mln of LSE shares at 1915p - source

Posted on 11 July 2014

Sovereign wealth fund Qatar Holding has sold 260.1 million pounds ($442.6 million) worth of shares in London Stock Exchange Group (LSE), a source familiar with the matter said on Thursday, ahead of the LSE’s impending $1.6 billion rights issue.

Head of Libya investment fund steps down over ‘Gaddafi law’

Posted on 11 July 2014

The Libyan Investment Authority (LIA), the sovereign wealth fund of the North African oil producer, has appointed a new chief after his predecessor stepped down over a controversial political law, according to a statement on Wednesday.

Why Norwegians are wealthier than Nigerians

Posted on 11 July 2014

Last month, the Nigeria Sovereign Investment Authority (NSIA), Nigeria’s Sovereign Wealth Fund (SWF) announced that it made capital gains of N1.2 billion ($7.75 million) in the first quarter of 2014 – a return of 0.5 percent on a total capital of $1.55 billion.

NZ Super Fund - I’m invested in what?

Posted on 11 July 2014

K9 Natural’s chief executive, Calvin Smith, says the Super Fund’s expansion capital strategy is a no-brainer, as there is a serious funding gap in New Zealand for high growth companies.

Qatar to sell down stake in LSE

Posted on 10 July 2014

The Qatar Investment Authority is to sell down a third of its stake in the London Stock Exchange Group ahead of the bourse’s $1.6bn rights issue to help purchase Frank Russell, the US index compiler.

Abu Dhabi Said to Explore $2 Billion Sale of Fund Stakes

Posted on 10 July 2014

Abu Dhabi Investment Authority, one of the world’s largest sovereign-wealth funds, is said to be considering selling as much as $2 billion in private-equity fund stakes.

Bahrain fund open to McLaren stake sale

Posted on 10 July 2014

The chief executive of Bahrain’s sovereign wealth fund, Mumtalakat Holding Company, has confirmed that while there were no talks with Honda about buying its stake in U.K. automaker McLaren, a sale of the luxury sports car group was still an option.

Former oil minister named acting chairman of Libya sovereign fund

Posted on 10 July 2014

Libya has appointed a new acting chairman to oversee its $66bn sovereign wealth fund, but indicated that there would be no “change of direction” at the organisation.

Singapore’s Investment Firm Buys Health-Care, Consumer Firms to Tap New Growth

Posted on 10 July 2014

Temasek Holdings Pte is increasing investments in consumer, technology and health-care companies as Singapore’s state-investment firm becomes less reliant on financial assets.

Heritage fund or Slinky fund?

Posted on 10 July 2014

The recent announcement that the Alberta Heritage Savings Trust Fund earned $2.1 billion in 2013 is great news, but don’t break out the champagne yet. While these record earnings will help relieve Alberta’s current budget deficits, they are almost meaningless in the long term — which is, or at least was, the whole point of [...]

Asian markets hit Temasek growth

Posted on 09 July 2014

Assets of Singapore’s sovereign investment fund Temasek Holdings slowed in the year to March as Asian holdings weighed on the performance as it boosted its exposure to Europe and the US amid economic recoveries.

Temasek Ramps Up New Investments

Posted on 09 July 2014

Temasek Holdings Pte. Ltd. increased its investments in the year ended in March to the highest since the global financial crisis, even as weaker markets in Asia slowed the growth of its portfolio, which touched a record 223 billion Singapore dollars (US$179 billion).

Upbeat Temasek profit unchanged

Posted on 09 July 2014

Singapore’s state-investment firm remained upbeat on Asian economies, where it sealed half its new investments in the past fiscal year, even as it trawled the US and Europe for investments. It continues to favour companies in the financial services, life ­sciences, energy and consumer-product sectors.

Temasek’s portfolio growth slows; holdings hit record $179 bln

Posted on 09 July 2014

Singapore state investor Temasek Holdings Pte Ltd said its portfolio grew by 3.72 percent in the last financial year, slower than the previous year, due to a drop in the value of its bank holdings which include Standard Chartered PLC.

Here’s What Temasek Bought Over the Past Year

Posted on 09 July 2014

Singapore state fund Temasek Holdings Pte. Ltd. released its performance review for the 2014 fiscal year on Tuesday. The firm has a lot of influence as one of Asia’s biggest investors. So, what did it get up to over the past year?

Singapore’s Temasek takes it on the chin

Posted on 09 July 2014

Despite last year’s global stock market rally, Temasek Holdings, Singapore’s sovereign wealth fund, generated a shareholder return of just 1.5 percent for the 12 months ended March 31, hurt by its focus on Singapore and China.

Temasek Holdings optimistic on China prospects

Posted on 09 July 2014

Temasek Holdings is optimistic about China’s prospects, and said it will continue to invest in Chinese banks. Speaking at a briefing on its performance for the 12 months ended March 2014, the Singapore investment firm said Chinese banks are a good proxy for the long term growth of the world’s second largest economy.

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