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VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


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‘Made in China’ exhibition will offer opportunities for Qatar in China: Doha Bank

Posted on 21 November 2016

Optimistic on enhanced strategic relationship between Qatar and China, Doha Bank has said the recently held ‘Made in China’ exhibition will offer an opportunity for Doha to tap into the Asian country’s technological advancements. Qatar’s sovereign wealth fund received permission in 2012 to invest in China’s capital markets. Qatar Investment Authority holds shareholding in Agriculture [...]

HK Exchange Fund’s income more than doubles as stock gains surge

Posted on 21 November 2016

The Exchange Fund, the reserve designed to defend the Hong Kong currency, has reported an investment gain of HK$42.5 billion in the third quarter, more than double that of the previous three-month period, thanks to a large increase in stock investment income.

Singapore Sovereign Fund Invests $136 Million in Korean Retail Complex

Posted on 21 November 2016

Singapore’s sovereign wealth fund, GIC Real Estate Pte Ltd, has acquired G-Square, a Seoul-based retail complex, for $136 million. The complex was completed in 2014 and is spread over an area of 238,248.43 square meters. It has 28 stories and is located in the heart of Anyang, a bustling metropolitan area in the southern part [...]

Saudi sovereign fund fills key positions as it bulks up for reform drive

Posted on 18 November 2016

Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income.

Abu Dhabi Sovereign Wealth Fund Invests in US Electric Car Company Tesla Motors

Posted on 18 November 2016

It is amazingly interesting where all the money goes when the US Government provides money to businesses, bailouts, spends money in Research and Development, or provides stimulus funding.

Qatar to turn US Embassy in London into hotel

Posted on 18 November 2016

Qatari Diar’s plans to convert the US Embassy in London into a luxury hotel have received government approval this week, the project’s architect said.

ADIA buys Slough shopping centres

Posted on 18 November 2016

The Queensmere Observatory Shopping Centre in Slough has been acquired for a reported £130m by the Abu Dhabi Investment Authority (ADIA). The centre, which was sold by Criterion Capital, currently comprises almost 600,000 sq ft of retail space and is anchored by M&S, TK Maxx, Debenhams and Primark.

Morocco’s sovereign wealth fund and World Bank launch Green Africa Fund

Posted on 18 November 2016

The World Bank Group and Ithmar Capital, a Moroccan Sovereign Investment Fund, signed on Wednesday in Marrakech a memorandum of understanding relating to the establishment of a Green Growth Infrastructure Facility for Africa (GGIF Africa), the first pan-African fund dedicated to green investment in the continent.

GIC, NPS invest $136 mn each in Korea’s retail complex near Seoul

Posted on 18 November 2016

The Government of Singapore Investment Corporation (GIC) and the National Pension Service (NPS) have bought equity stakes in a fund launched to buy a landmark shopping complex near Seoul for $136 million each, extending their real estate portfolios into retail properties out of the South Korean capital.

Norway should tighten fiscal spending rule on its wealth fund-IMF

Posted on 18 November 2016

Norway should limit what it spends from its $860 billion wealth fund to avoid creating economic imbalances, the International Monetary Fund said on Thursday, after the fund grew faster than the economy in the last 20 years.

Norway Will Withdraw a Worth of $15 Billion Right From Its Wealth Fund In Which Can Eventually Put Bitcoin In Portfolio?

Posted on 18 November 2016

Norway was at this very moment planning to withdraw a worth of over and around NOK 121 billion in which is nearly closed to $15 billion US Dollars right from its sovereign wealth fund in order to cover its losses right from the oil revenue.

US dollar price in Azerbaijan rises up to new absolute record

Posted on 18 November 2016

The Central Bank and the State Oil Fund of Azerbaijan (SOFAZ) have taken part today in a regular bipartite foreign exchange auction, and the national currency has fallen the next time running.

Ex-SWF chief: Private equity model is a ‘rigged arrangement’

Posted on 18 November 2016

Private equity firms are charging far too much in fees and are not investing enough of their own money in the deals they do, according to a former head of private investments at one of the world’s largest sovereign wealth funds.

Alaska lawmaker plans appeal in dividend case

Posted on 18 November 2016

A state senator who challenged Gov. Bill Walker’s cut to the Alaska Permanent Fund dividend this year plans to appeal a judge’s decision that found that Walker acted within his authority. Sen. Bill Wielechowski of Anchorage said it was always expected that the case would be decided by the Alaska Supreme Court.

SOFAZ reveals profits from major energy projects

Posted on 17 November 2016

Azerbaijan’s state oil fund SOFAZ has revealed the volume of profits it received from the major energy projects in January-October 2016. Thus, SOFAZ received $64 million from the sale of profit oil from profitable gas condensate field “Shah Deniz”.

Norway Wealth Fund Buys $345 Million London Oxford St. Building

Posted on 17 November 2016

Norges Bank Real Estate Management acquired an office and retail building on Oxford Street, the U.K.’s busiest shopping street, from Great Portland Estates Plc for 276.5 million pounds ($345 million).

Great Portland sells central London property to Norwegian sovereign wealth fund

Posted on 17 November 2016

Great Portland Estates has completed the sale of 73/89 Oxford Street and 1 Dean Street in London to Norwegian sovereign wealth fund Norges Bank Real Estate Management for £276.5m.

Largest Wealth Fund Finds Value in Israeli Banks After Job Cuts

Posted on 17 November 2016

Israeli banks, criticized for years as wasteful by their regulator, are attracting interest from the world’s top investors after announcing thousands of job cuts to boost efficiency.

Kinstellar advises Singapore sovereign wealth fund on €2.4bn acquisition

Posted on 17 November 2016

Kinstellar teams in Bulgaria, the Czech Republic, Romania, Serbia and Slovakia have successfully advised GIC, Singapore’s sovereign wealth fund, on its €2.4bn acquisition of the European logistics property company P3 Logistic Parks, which is described as the largest European real estate deal this year.

KIC to embrace broader client base, assets with eased regulations

Posted on 17 November 2016

South Korea will sharply lower the minimum amount to be entrusted to the Korea Investment Corporation (KIC) to about $86 million and allow the sovereign wealth fund to diversify into a broader range of alternative assets, opening the doors of the state fund wider to small-sized public funds.

China Investment Corp Sets Up Joint Fund For Overseas Investments

Posted on 17 November 2016

China’s sovereign-wealth fund China Investment Corporation (CIC) has teamed up with a French public sector financial institution to jointly tap overseas investment opportunities, with a focus on real estate and infrastructure, according to an announcement.

Malaysia Silences 1MDB Whistleblower in Blow to Rights

Posted on 17 November 2016

The sentencing of an opposition politician is just the latest attempt to cover up a deepening 1MDB scandal. A chorus of international outrage was struck immediately after the sentencing of opposition politician Rafizi Ramli for disclosing part of the Auditor General’s report into the 1MDB corruption scandal, which has severely damaged Malaysia’s reputation in business [...]

Najib says he initiated 1MDB probe

Posted on 17 November 2016

In an interview with a Japanese weekly, Malaysian Prime Minister Najib Razak said he was the first to order an investigation into 1Malaysia Development Berhad (1MDB). In an interview published in the Nikkei Asian Review yesterday, he said the Malaysian authorities have led investigations into 1MDB.

Abu Dhabi’s IPIC Posts Loss After $1 Billion UniCredit Writedown

Posted on 17 November 2016

Abu Dhabi sovereign fund International Petroleum Investment Co. posted a first-half loss after its shares in UniCredit SpA slumped. IPIC recorded a loss of $91 million compared with a $1.25 billion profit a year earlier, the Abu Dhabi-based company said.

Abu Dhabi said to mull more bank mergers after NBAD-FGB deal

Posted on 17 November 2016

Abu Dhabi is considering more mergers to boost its financial services industry after combining National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, according to four people with knowledge of the matter. Bank stocks surged.

Saudi fund says no plan to cut local equity holdings

Posted on 17 November 2016

Saudi Arabia’s Public Investment Fund (PIF), the country’s main sovereign wealth fund, said it had no plan to sell stakes in local companies.

Saudi Fund Says It Has No Plans to Sell Off Local Equity Stakes

Posted on 16 November 2016

Saudi Arabia’s sovereign wealth fund said it has no plans to sell down the equity stakes it holds in local companies. “The Public Investment Fund has no plan or intention to reduce its equity holdings in Saudi Arabia,” the fund said in an e-mailed statement Tuesday, reacting to a Bloomberg report that it’s considering options [...]

Saudi fund said to explore asset sales for overseas deals

Posted on 16 November 2016

Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, according to five people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing [...]

Saudi to Make PIF World’s Biggest Fund (Video)

Posted on 16 November 2016

Bloomberg’s Riad Hamade discusses the MISK Global Forum in Riyadh, Saudi Arabia’s efforts to help with youth unemployment and the plan to make their sovereign wealth fund the biggest in the world. He speaks on “Bloomberg Markets: Middle East.”.

Saudi sovereign fund eyes stake in ACWA

Posted on 16 November 2016

Saudi Arabia’s main sovereign wealth fund, Public Investment Fund (PIF), is considering buying a stake in Riyadh-based ACWA Power, which operates power and water plants around the world, sources familiar with the matter told Reuters.

China fund CIC teams up with French investor for overseas opportunities

Posted on 16 November 2016

China Investment Corporation (CIC), the sovereign wealth fund, is stepping up its overseas investment, focusing on targets closely tied to the country’s economic development. Qi Bin, CIC’s deputy general manager, revealed the move, while speaking at the private equity firm Hony Capital’s annual general meeting in Shenzhen on Monday.

China’s sovereign wealth fund and China Life on track to open offices in London

Posted on 16 November 2016

China Life and China Investment Corporation are among the latest mainland financial companies set to open offices in London, even as concerns over Brexit remain, according to Mark Boleat, chairman of the Policy and Resources Committee for the City of London.

Hong Kong Exchange Fund’s income more than doubles as stock gains surge

Posted on 16 November 2016

In the first three quarters of the year, fund posts an investment profit of HK$86.8 billion. Its total assets worth HK$3.57 trillion by end of September. The Exchange Fund, the reserve designed to defend the Hong Kong currency, has reported an investment gain of HK$42.5 billion in the third quarter, more than double that [...]

Hong Kong Monetary Authority Sees Blockchain as a Money Laundering Risk

Posted on 16 November 2016

A recent assessment from the Hong Kong Central Bank has warned that blockchain could increase the risk of money laundering, according to The Business Times. In a study, the HKMA said even though bitcoin’s distributed ledger could save on cost and cut down on time, it also had the potential to provide criminals with a [...]

KIC to lower barriers for smaller local funds

Posted on 16 November 2016

Korea’s sovereign wealth fund Korea Investment Corp. will lower barriers for smaller local funds to be eligible for entrustment to seek economies of scale in its overseas investments, the government said Tuesday.

1MDB corruption: Najib denies ham-handed probe, affirms he alone started investigation

Posted on 16 November 2016

Malaysian Prime Minister Najib Razak rebuffed allegations of suppression of the probe into the multi-billion dollar financial irregularities in the state investment fund 1 Malaysia Berhad, saying it was he who initiated the investigation into the scandal.

1MDB: Malaysia’s extraordinary financial scandal

Posted on 16 November 2016

Malaysian Prime Minister Najib Razak has been under fire since 2014 over allegations that billions of dollars were looted from state investment fund 1MDB in an audacious campaign of fraud and money-laundering.

Temasek says Alibaba remains key part of its portfolio

Posted on 16 November 2016

Temasek Holdings, the Singapore state-owned investment giant which pared its stake in Alibaba Group Holding in the third quarter, said yesterday that China’s biggest online retailer remains an essential part of its portfolio.

Singapore’s Temasek cuts stake in Alibaba in the third quarter

Posted on 16 November 2016

Temasek Holdings Pte pared its investment in Alibaba Group Holding Ltd. in the third quarter, as shares of China’s biggest online retailer rallied, while emerging as a shareholder of software maker Dell Technologies.

GIC takes over P3, which has the biggest logistics park in Romania

Posted on 16 November 2016

The Singaporean sovereign wealth fund GIC will buy P3 Logistics Parks, which also has investments in Romania, in a deal worth EUR 2.4 billion, business-review.eu informs.

Permanent Fund makes winning bet on a startup

Posted on 16 November 2016

The Alaska Permanent Fund Corp. has made another winning bet on a startup company, banking more than $300 million after providing early capital for a giant home-rental firm that took advantage of the collapse of the nation’s housing market.

Chinese sovereign wealth fund CIC to raise overseas investment

Posted on 15 November 2016

Deputy general manager Qi Bin says it will be focusing on targets closely tied to Chinese economic development. China Investment Corporation (CIC), the sovereign wealth fund, is stepping up its overseas investment, focusing on targets closely tied to the country’s economic development.

GIC Catches on to K-Style With $136M Seoul Shopping Mall Acquisition

Posted on 15 November 2016

Korea’s unique style and fashion sense may not be everyone’s cup of tea, but Singapore’s sovereign wealth fund appears to like what it sees in the country’s retail scene. GIC invested $136 million to acquire an interest in G-Square City Retail Complex located in the suburbs of Seoul.

Temasek Cut Stake in Alibaba in Third Quarter, Filing Shows

Posted on 15 November 2016

Temasek Holdings Pte pared its holding in China’s biggest online retailer, Alibaba Group Holding Ltd., in the third quarter as the shares rallied, while buying stock in Internet travel agency Ctrip.com International Ltd., biopharmaceutical company AC Immune SA and Dell Technologies Inc.

Malaysia’s 1MDB in university hard sell

Posted on 15 November 2016

An investigation by US authorities into the alleged theft of billions of dollars from Malaysia’s sovereign wealth fund 1MDB was in part fuelled by Attorney-General Loretta Lynch’s desire to divert attention from Hillary Clinton’s email scandal, according to materials distributed in private lectures given by the company’s chief executive Arul Kanda in Australia last week.

Don’t forget 1MDB just yet

Posted on 15 November 2016

According to news reports, Malaysia is refusing to provide details to the Swiss authorities because apparently, the attorney-general’s office claims that there is an on-going police investigation by Malaysian police on the 1MDB. And this isn’t the first time they have refused to assist.

1MDB: Malaysian opposition politician jailed for exposing audit report on fund

Posted on 15 November 2016

A prominent Malaysian opposition politician who has a reputation as a whistleblower has been sentenced to 18 months’ jail for releasing a classified document on a controversial state investment fund.

HKMA digs deeper into blockchain technology, releases white paper

Posted on 15 November 2016

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Applied Science and Technology Research Institute (ASTRI), has released a new white paper on distributed ledger technology (DLT), commonly known as blockchain.

Saudi sovereign fund PIF considers buying stake in power firm ACWA

Posted on 15 November 2016

Saudi Arabia’s main sovereign wealth fund, Public Investment Fund (PIF), is considering buying a stake in Riyadh-based ACWA Power, which operates power and water plants around the world, sources familiar with the matter told Reuters.

Saudi Arabia and Alabbar eye online retail domination with $1bn enterprise

Posted on 15 November 2016

Mohamed Alabbar and Saudi Arabia’s government have teamed up to launch a US$1 billion e-commerce venture that will tap into the region’s rapidly changing retail landscape.

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