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VRS - who has written 18687 posts on Opalesque Sovereign Wealth Funds Briefing.


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Russia Interested in Saudi $2 Trillion Sovereign Wealth Fund Assets

Posted on 23 May 2016

Russia will be interested in the use of the announced Saudi Arabian $2-trillion sovereign wealth fund if it is established, Russian Energy Minister Alexander Novak said. “If they do launch such a fund and proceed with investing in projects then we could definitely put a claim on Russian projects’ participation, on the use of these [...]

World’s Biggest Wealth Fund Faces Wider Ban on Coal Investments

Posted on 23 May 2016

Norway’s sovereign wealth fund may be forced to step up divestments of coal companies and could face a wider ban on investments in other fossil fuels such as oil sands.

FSDEA investment portfolio estimated at USD 4.7 billion

Posted on 23 May 2016

Angola’s Sovereign Wealth Fund (FSDEA) portfolio investment recorded last year is estimated at USD 4.7 billion (one dollar equals 166,708 Kwanzas), says the institution’s press note. Angop learnt Friday in Luanda that the portfolio recorded in 2015 is internationally diversified and holds allocations to venture capital funds, fixed income assets, variable to financial derivatives and [...]

Angola SWF raised private equity investment, trims debt exposure in 2015

Posted on 23 May 2016

Angola’s sovereign wealth fund increased its investments in private equity focused on sub-Saharan Africa last year and sharply cut exposure to developed market bonds, the fund said in a statement published on Thursday. The fund said it had $4.7 billion under management at the end of last year, while audited results posted on its website [...]

Bahrain sovereign fund Mumtalakat 2015 net profit drops 68.7 pct

Posted on 23 May 2016

Bahraini sovereign fund Mumtalakat posted a 68.7 percent drop in 2015 net profit on Sunday, as the state-owned investor cited impairment losses for the decline. Net profit in 2015 was $76.3 million against $243.6 million in the previous year, Mumtalakat said in a statement.

Korea Investment Corp buys $58.1 Million stake in HCA Holdings Inc

Posted on 23 May 2016

Korea Investment Corp scooped up 183,900 additional shares in HCA Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 745,027 shares of HCA Holdings Inc which is valued at $58.1 Million.HCA [...]

Gov’t not bound to undertake missing US$3.5b 1MDB bond, says Najib

Posted on 23 May 2016

Prime Minister Najib Abdul Razak claims the government is not legally bound to take over US$3.5 billion in 1MDB bonds. “(This is because) the bonds were not guaranteed by the government nor a support letter (issued by government) on the bond,” he said in his capacity as finance minister.

SOFAZ’s 2015 budget Approved

Posted on 20 May 2016

Azerbaijan’s President Ilham Aliyev signed a decree May 18 on execution of the 2015 budget of the country’s State Oil Fund (SOFAZ). SOFAZ’s revenues and expenditures were 7,721,084,900 manats and 9,187,826,900 manats, respectively, in 2015, according to the decree.

Angola Wealth Fund Says Half of Investments in Private Equity

Posted on 20 May 2016

Angola’s sovereign wealth fund said it put more than half of its investments in private equity funds focused in the country and across sub-Saharan Africa last year, describing its performance as “solid,” particularly in light of the global economic turbulence.

Angola SWF raised private equity investment, trims debt exposure in 2015

Posted on 20 May 2016

Angola’s sovereign wealth fund increased the amount of funds earmarked for private equity investments focused on sub-Saharan Africa last year and sharply cut exposure to developed market bonds, the fund’s chairman said on Thursday. The fund had $4.7 billion under management at the end of last year, chairman Jose Filomeno dos Santos said, while audited [...]

Bahrain Sovereign-Wealth fund Buys Stake in Office Buildings in Phoenix and Dallas

Posted on 20 May 2016

For the past few years, foreign investors have poured money into U.S. commercial property—but in only a small handful of cities such as New York, Los Angeles and San Francisco. Now one big foreign investor is looking further afield.

Mumtalakat Announces Partnership with Regent Properties to Acquire Interest in a Portfolio of Commercial Real Estate Assets in the United States

Posted on 20 May 2016

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, today announces its partnership with Regent Properties (Regent) through which Mumtalakat is acquiring an interest in an existing portfolio of high-quality commercial real estate assets in the United States currently managed by Regent.

SocGen Rang ‘Fridge’ on Secret Phone, LIA Says in Bribe Suit

Posted on 20 May 2016

A Societe Generale SA employee called the same “secret number” used by an associate of Saif Qaddafi, the son of the former Libyan dictator, to reach a Libyan Investment Authority official, according to LIA evidence in a London lawsuit trying to link the bank to the ousted regime’s corruption.

How the Second-Richest Arab Nation Is Reacting to Oil Shock

Posted on 20 May 2016

Kuwait has enough financial firepower to respond gradually to the plunge in global crude prices. Its sovereign wealth fund is the world’s fifth-largest with $592 billion in assets under management, according to data compiled by the Sovereign Wealth Fund Institute.

Temasek says retail bond issue remains a possibility

Posted on 20 May 2016

Singapore state investor Temasek Holdings said on Thursday it remains open to a retail bond offering in due course as it welcomed new retail market rules announced by the central bank and the Singapore Exchange (SGX).

Temasek, CIC-KKR advance to second round of Yum China stake sale

Posted on 20 May 2016

Singapore state investor Temasek Holdings and a consortium that includes China Investment Corp (CIC) and KKR & Co have advanced to a second round of bidding for a minority stake in Yum Brands Inc’s China unit, people familiar with the matter told Reuters.

Temasek unit buys Tata Communications 17 data centers for $634m

Posted on 20 May 2016

Tata Communications Ltd., part of India’s biggest conglomerate, announced the sale of 74 percent stake in its data center business to a unit of Temasek Holdings for an enterprise value of $634 million to raise funds for expansion and pare debt. Singapore Technologies Telemedia Pte. is buying the majority stake in 14 data centers in [...]

1MDB link to London home bought by Najib Razak’s son Riza Aziz

Posted on 20 May 2016

The stepson of Malaysian Prime Minister Najib Razak bought a £23.25 million ($46.3m) house in central London in 2012 with money originating from the troubled Malaysian state investment fund 1Malaysia Development Berhad, according to people familiar with the situation.

Top 10 biggest foreign investors pouring capital into L.A. real estate

Posted on 20 May 2016

Among the biggest transactions of the past year was Singapore sovereign wealth fund GIC’s acquisition of a 40 percent interest in five U.S. retail properties, including the Lakewood Centre in Lakewood, for $790.7 million.

Sovereign Wealth Funds Investing In Infrastructure

Posted on 20 May 2016

Using extracts from the 2016 Preqin Sovereign Wealth Fund Review and data from Preqin’s Infrastructure Online, Joe McGee and Selina Sy examine these investors’ plans and preferences concerning infrastructure investments.

Oldest Mideast Wealth Fund Eyes Global Infrastructure Projects

Posted on 19 May 2016

The Kuwait Investment Authority, one of the world’s oldest sovereign wealth funds, is targeting global infrastructure projects after taking part in a consortium that bought the London City Airport this year, Chairman Anas Al-Saleh said.

Libya sovereign fund case vs SocGen back in UK court on May 19

Posted on 19 May 2016

A dispute between Libya’s $67 billion sovereign wealth fund and Societe Generale over alleged bribes paid to the company of a middleman linked to the Gaddafi family will be back in London’s High Court on May 19 for a pre-trial hearing.

Sovereign Wealth Fund hits N358b

Posted on 19 May 2016

The Nigerian Sovereign Investment Authority (NSIA), which manages Nigeria’s sovereign wealth fund, has a total assets of about $1.8 billion (about N358 billion at current official exchange rate) under its management. Its Managing Director, Mr. Uche Orji, during a visit to the Nigerian Stock Exchange (NSE) yesterday in Lagos, gave the breakdown of the assets [...]

Domestic focus may limit clout of $2 trillion Saudi fund

Posted on 19 May 2016

Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home. Building the Public Investment Fund (PIF) into “the largest fund in the world [...]

Indonesia weighs up introducing sovereign investment vehicle modelled after Singapore’s Temasek

Posted on 19 May 2016

Southeast Asia’s largest economy with a GDP of US$888.54 billion – is mulling over creating a sovereign investment company modelled after Singapore’s Temasek Holdings (Private) Limited (Temasek), in a bid to drive continuous development in the country, says Finance Minister Bambang Brodjonegoro.

Malaysia sovereign fund opens London office as its Europe HQ

Posted on 19 May 2016

Malaysian sovereign wealth fund Khazanah Nasional has opened an office in London, its first in Western Europe, to support its investment activities on the continent, the fund said. The investment fund, which has some 150 billion ringgit ($37 billion) under management, has established a London office for Khazanah Europe Investment Ltd (KEIL) to better assess [...]

Azerbaijani president approves execution of SOFAZ’s 2015 budget

Posted on 19 May 2016

Azerbaijan’s President Ilham Aliyev signed a decree May 18 on execution of the 2015 budget of the country’s State Oil Fund (SOFAZ). SOFAZ’s revenues and expenditures were 7,721,084,900 manats and 9,187,826,900 manats, respectively, in 2015, according to the decree.

Open Letter To Norway’s Sovereign Wealth Fund: Target Lions Gate Entertainment

Posted on 19 May 2016

Norway’s Sovereign Wealth Fund’s CEO recently stated that the fund is looking to restructure compensation plans at certain companies in it portfolio. This announcement could be great news for shareholders, as reforming executive compensation can create value for investors.

Sujoy Bose may head India’s quasi-sovereign wealth fund NIIF

Posted on 18 May 2016

Sujoy Bose, the global co-head for infrastructure and natural resources at International Finance Corporation, is likely to be appointed as the first CEO of India’s pioneering quasi-sovereign wealth fund, (SWF) the National Infrastructure and Investment Fund (NIIF), official sources told FE.

Indonesia Turns to Temasek as Model for Sovereign Investment

Posted on 18 May 2016

Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development in Southeast Asia’s biggest economy.

Malaysia Says Too Early to Conclude Fraud in 1MDB-Abu Dhabi Deal

Posted on 18 May 2016

Malaysia said Tuesday it’s too early to conclude if fraud had occurred in dealings between its troubled state company and an Abu Dhabi sovereign wealth fund. 1Malaysia Development Bhd., which is the subject of global investigations, said last month it could be a victim of fraud if payments of $3.5 billion intended for Abu Dhabi’s [...]

Russian, Vietnamese state funds to invest $500m in joint trade platform

Posted on 18 May 2016

The Russian Direct Investment Fund (RDIF) and the State Capital Investment Corporation (SCIC) of Vietnam will each dedicate $250 million in a Russian-Vietnamese investment platform to identify attractive investment projects in bilateral trade.

Central Bank again becomes a buyer of Oil Fund’s currency, but not key one

Posted on 18 May 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 $49 million through the auction.

Alaska Permanent Fund gains 1.2% in quarter, but lags benchmark

Posted on 18 May 2016

Alaska Permanent Fund Corp., Juneau, returned 1.2% in the quarter ended March 31, trailing its performance benchmark return of 2.3%, said a spokeswoman for the $52.5 billion sovereign wealth fund in an e-mail.

Domestic Focus May Limit Clout of $2 Trillion Saudi Fund

Posted on 18 May 2016

Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home.

Oman fund to invest $50m in BOC Aviation IPO

Posted on 18 May 2016

Oman Investment Fund, a sovereign wealth fund of the Government of Oman, has agreed to buy shares worth $50 million in the initial public offering (IPO) of BOC Aviation, the aircraft leasing unit of Bank of China, said a report.

Qatar wealth fund ‘to create $100bn unit in revamp’

Posted on 18 May 2016

Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100bn of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals. About $100bn of the Qatar Investment Authority’s stakes in companies such as Qatar Airways and Qatar National Bank will be placed into [...]

Who is Dipping Into Their Sovereign Wealth Funds Now Oil is Cheap?

Posted on 17 May 2016

As many as 44 of the world’s countries have at least one sovereign wealth fund set up for a rainy day, and now it seems that for many of them that day has arrived. Let’s take a look at which of these countries have made use of their piggy banks.

Qatari Wealth Fund to Create $100 Billion Unit in Overhaul

Posted on 17 May 2016

Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals, people with knowledge of the matter said.

Oman fund to invest $50m in Chinese aviation firm’s $1.1b share offer

Posted on 17 May 2016

Oman Investment Fund has agreed to buy $50 million in the initial public offering of BOC Aviation, the aircraft leasing unit of Bank of China. BOC Aviation attracted investors including Boeing and the Chinese sovereign wealth fund (SWF) to buy shares in its $1.1 billion initial public offering in Hong Kong.

Domestic focus may limit clout of $2 trillion Saudi fund

Posted on 17 May 2016

Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home.

UAE sovereign wealth funds hiring in-house to cut costs

Posted on 17 May 2016

Measures are seen as a means of reducing the “huge fees” some funds pay to external managers. Sovereign wealth funds in the UAE are increasing in-house recruitment and consolidating their holdings under larger private equity players to cut costs, according to law firm Baker Baker & McKenzie.

Abu Dhabi to ease budget spending cuts, says ratings agency Moody’s

Posted on 17 May 2016

Fitch estimates that the Abu Dhabi government sold about $27 billion of sovereign wealth fund assets to help it finance its deficit in 2015. It can finance its deficit by drawing down on the assets of the Abu Dhabi Investment Authority, the sovereign wealth fund that manages between $475bn and $773bn in assets, according to [...]

Market shrugs off news Abraaj is interested in Barclays Africa

Posted on 17 May 2016

Dubai private equity firm Abraaj was putting together a consortium to bid for up to 35% of Barclays Africa’s shares did not excite markets, with observers holding out for an announcement of firm discussions from the bank or its parent. The private equity firm has just three companies listed in its financial services portfolio [...]

Azerbaijan’s SOFAZ has no plans to increase share in Russian VTB Bank

Posted on 17 May 2016

The State Oil Fund of Azerbaijan (SOFAZ) has no plans to increase its share in Russia’s VTB Bank, SOFAZ told Trend. Earlier, Russia’s President Vladimir Putin signed a decree to reduce the state’s share in the bank’s authorized capital from 45 percent to 42.8 percent.

Companies listen when Norway’s oil fund shouts

Posted on 17 May 2016

When the quiet one in the room suddenly shouts, people tend to listen. On that basis, the reserved and thoughtful Norwegians who run the country’s $850bn oil fund should get a decent hearing next time they visit Wolfsburg, having declared they will sue Volkswagen over the emissions scandal.

Norway sovereign wealth fund will seek to join class action against Volkswagen

Posted on 17 May 2016

Norway’s $850 billion sovereign wealth fund will seek to join a class-action lawsuit in Germany against Volkswagen following revelations the carmaker rigged the exhaust systems of 11 million diesel-powered cars worldwide to pass official emissions tests.

Temasek Raises Health-Care Bets, Adds More ADRs of JD.com

Posted on 17 May 2016

Temasek Holdings Pte built holdings of U.S. drugmakers and health-care companies in the first quarter as the Singapore investment firm expands bets on industries that will benefit from rising life expectancies and a growing middle class in emerging markets.

BOC Aviation Draws Boeing, Sovereign Funds to $1.1 Billion IPO

Posted on 16 May 2016

BOC Aviation Ltd., Asia’s biggest aircraft lessor, attracted investors including Boeing Co. and the Chinese sovereign wealth fund to buy shares in its $1.1 billion initial public offering in Hong Kong.

Norway’s wealth fund to sue Volkswagen over emissions scandal

Posted on 16 May 2016

Norway’s sovereign wealth fund, the world’s largest, said on Sunday it plans to join the class-action lawsuits filed against Volkswagen AG over the German automaker’s emissions scandal.

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