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VRS - who has written 15635 posts on Opalesque Sovereign Wealth Funds Briefing.


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GIC, Ironbridge plan IPO of Australian car-lease firm FleetPartners-Reuters

Posted on 15 January 2015

Singapore sovereign wealth fund GIC and Australian private equity firm Ironbridge Capital are planning an initial public offering of FleetPartners Ltd in a deal that would value the car leasing company at about $615 million, a source said.

Asian Fund Pays $1,800 Per Sq Ft For Silicon Valley Complex

Posted on 15 January 2015

Sand Hill Road in Menlo Park, Ca. is renowned for being one of the most prestigious office addresses in Silicon Valley. Now it’s also setting new records for office building sale prices.

Malaysia’s state investor Khazanah’s portfolio rises to $40.5 bln

Posted on 15 January 2015

Malaysian state investor Khazanah Nasional said a 7.7 percent rise in its asset value in 2014 leaves it in good shape for what it expects to be a challenging year, as the country faces pressure from a weakening currency and falling oil prices.

Khazanah to continue invest overseas but will not neglect domestic market

Posted on 15 January 2015

Khazanah Nasional Berhad will continue to invest overseas pending clarification of a directive for government agencies and companies to spend their money in Malaysia. The sovereign wealth fund, however, stressed that it would not neglect the domestic market and that it was ready to play a role in investing in the national economy.

Khazanah reaps $1bn from Alibaba investment

Posted on 15 January 2015

Khazanah, Malaysia’s sovereign wealth fund, reaped more than $1bn from investing in Alibaba ahead of the Chinese e-commerce group’s stock market flotation last year, in a sign of how big Asian investors have cashed in on what remains the world’s biggest initial public offering to date.

Malaysia’s Khazanah Got Aboard The Alibaba Gravy Train

Posted on 15 January 2015

Khazanah, the Malay word for treasure, is also the name of Malaysia’s sovereign wealth fund. Like many major Asian investors, Kazanah saw value ahead of Alibaba’s IPO and invested $400 million in the burgeoning Chinese ecommerce giant back in 2012 and 2013.

Khazanah says can turn MAS around despite mounting challenge

Posted on 15 January 2015

Sovereign wealth fund Khazanah Nasional Bhd said today it has a “fair chance” of returning ailing flag carrier MAS to profitability as the restructuring exercise allows it to execute tough but necessary policies. Khazanah chief executive Tan Sri Azman Mokhtar said this included the freedom to trim MAS’ bloated workforce and re-negotiate lopsided contracts, both [...]

Malaysian sovereign fund repatriates billions from Cayman Islands

Posted on 15 January 2015

Bowing to pressure, Malaysian sovereign fund 1Malaysia Development Berhad (1MDB) said on Tuesday that it has fully repatriated $2.318 billion invested in a fund in the Cayman Islands under the regulatory supervision of the Cayman Monetary Authority.

PNG: The World’s Biggest Grower in 2015?

Posted on 15 January 2015

During the 23rd Australia-PNG Ministerial Forum, Australian Foreign Minister Julie Bishop noted Canberra’s desire to “make sure that PNG has in place a sovereign wealth fund so that the money they are receiving from these massive energy projects can be spread throughout PNG.” She also announced plans to support gender equality (the prevalence of violence [...]

ADIA in talks with Runwal for a joint development venture

Posted on 15 January 2015

United Arab Emirates-based sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in talks with Indian developer Runwal Group to jointly buy land and develop properties in India, said two persons in the know.

Norwegian wealth fund bolsters Aviva bid

Posted on 14 January 2015

The world’s largest sovereign wealth fund has thrown its weight behind Aviva’s planned acquisition of Friends Life, buying about £100m worth of shares in the two FTSE 100 insurers since the £5.1bn deal was unveiled. Norway’s $860bn oil fund has joined the ranks of Friends Life’s 10 largest shareholders after increasing its stake in the [...]

Russia’s Reserve Fund Grew by 72.9%, National Welfare Fund by 51.3% in 2014

Posted on 14 January 2015

Russia’s Reserve Fund grew by 72.9 percent to top 4.94 trillion rubles year-on-year, while the National Welfare Fund increased by 51.3 percent to 4.388 trillion rubles in 2014, the Finance Ministry said on Tuesday. “As of January 1, 2015, the amount of the Reserve Fund totaled 4 trillion, 945 billion and 490 million rubles which [...]

Temasek eyes fan business of Crompton Greaves

Posted on 14 January 2015

Singapore investor Temasek Holdings has emerged as frontrunner to buy a $200-million stake in the about to be demerged consumer products business of CromptonGreaves, controlled by billionaire GautamThapar, according to multiple sources directly familiar with the matter. Temasek and Crompton Greaves’ promoter have entered into exclusive negotiations, taking the former ahead of rival offers [...]

1MDB recovers US$2b in the Cayman Islands

Posted on 14 January 2015

1Malaysia Development Berhad (1MDB) president and group executive director Arul Kandasamy has confirmed in a statement, that the sovereign wealth fund has redeemed in full US$2.318 billion (RM8.24 billion) ploughed by it into a fund registered in the Cayman Islands.

1MDB subsidiary borrowed RM4 billion to invest in non-existent Mongolian venture, says Rafizi

Posted on 14 January 2015

Government-linked strategic investment company 1Malaysia Development Berhad (1MDB), through its subsidiary, had borrowed RM4 billion from the Retirement Fund Incorporated (KWAP), PKR’s Rafizi Ramli revealed today.

Australia: SWFs plead to OECD for tax rule exemption

Posted on 14 January 2015

Australia’s and New Zealand’s largest superannuation funds and sovereign wealth funds, including the $70 billion Queensland Investment Corporation and $26bn New Zealand Superannuation Fund, have urged the Organisation for Economic Co-operation and Development to exclude them from new rules that clamp down on profit shifting and base erosion.

Crowded by Gulf wealth? Locals forced out of London’s property investment

Posted on 14 January 2015

Last year, more than 55 billion pounds ($83.5 billion) was invested in commercial property across the country, much of it by pension funds, insurers and sovereign wealth funds looking for steady, long-term income. But local investors are increasingly seeing advantage elsewhere.

MongoDB Raises Additional $80 Million, Sovereign Fund Leads Round

Posted on 14 January 2015

MongoDB Inc., a maker of online database software, raised $80 million in funding as the company seeks to challenge Oracle Corp. and other software makers.

GIC sells its stake in Pakuwon Jati

Posted on 13 January 2015

The Government of Singapore Investment Corporation, better known as GIC, sold its 4.9% stake in high-flying Indonesian real estate firm Pakuwon Jati for almost $90 million on Monday. The sovereign wealth fund sold 2.36 billion shares at IDR478 per share, at the bottom end of its targeted range and an 8.1% discount to Friday’s closing [...]

Where is RM5.5 billion of 1MDB funds being invested, DAP asks

Posted on 13 January 2015

Controversial sovereign fund 1Malaysia Development Berhad (1MDB) must reveal where an additional US$1.56 billion (RM5.55 billion) of loan fund is being invested, DAP lawmaker Tony Pua said.

Canary Wharf owner rejects Qatari takeover bid again

Posted on 13 January 2015

Hostile 350p-a-share offer worth £2.6bn from QIA and Brookfield turned down. The owners of Canary Wharf have formally rejected a £2.6bn takeover bid from a Qatari sovereign wealth fund. Songbird Estates, the property company behind east London’s financial district, issued a firm rebuttal on Monday of a 350p-a-share offer from the Qatari investment Authority (QIA) [...]

Qatar Invests in Egypts Tourism Sector

Posted on 13 January 2015

Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.

Oil prices to stay low longer

Posted on 13 January 2015

Global oil prices are most unlikely to rebound to $100 levels in near term. If the prices stay at current levels, Qatar may run a budget deficit in the current fiscal, though marginal, top market analysts said. If oil prices continue to stay at $50 levels, Qatar will face a marginal deficit in its budget [...]

Kuwait announces $155bn infrastructure spree despite low oil prices

Posted on 13 January 2015

Kuwait’s government on Sunday announced plans to spend 45.5 bn dinars ($155 bn) on projects over the next five years despite the plunge in world oil prices, a lawmaker said.

Odey Says Oil Will Burn Bond And Sovereign Wealth Funds

Posted on 13 January 2015

One of Crispin Odey’s long-biased funds made a spectacular return in November of last year. There is however one ray of hope for Odey, as he mentions that 90% of the SWFs are funded by oil, which means that right now money is disappearing fast at these trillion dollar funds. Similarly the oil majors [...]

NBIM to fund research on sustainability in gold, copper mining

Posted on 13 January 2015

Norges Bank Investment Management (NBIM) is to fund a US university’s work on sustainability in the mining sector, with the resulting work meant to assist the sector in assessing financial risk. NBIM, the manager in charge of Norway’s NOK6trn (€699bn) Government Pension Fund Global, said the work by Columbia University in New York would be [...]

EIG hires exec from CIC to run Hong Kong office

Posted on 12 January 2015

EIG Global Energy Partners tapped China’s massive sovereign wealth fund for talent to run its debut office in Asia. Yangyang Liu, a former private equity official with China Investment Corp (CIC), joined EIG Global Energy Partners in September, according to her LinkedIn profile and EIG’s website. Liu joined to lead EIG’s Hong Kong office, the [...]

Mubadala takes control of Maracana stadium manager IMX

Posted on 12 January 2015

Abu Dhabi strategic investor Mubadala Development has taken control of the firm that manages Rio’s iconic Maracana stadium, the venue for last year’s World Cup final. According to an emailed statement seen by Bloomberg News, Mubadala has acquired a stake in IMX from the former Brazilian billionaire Eike Batista’s EBX Group making it the majority [...]

Qatari firm invests in major tourist projects in Egypt

Posted on 12 January 2015

Qatari Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.

Qatari Diar invests in Egypt with 2 major tourist projects

Posted on 12 January 2015

Qatari Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.

Singapore’s GIC deepens India real estate exposure

Posted on 12 January 2015

Singapore’s sovereign wealth fund (SWF), GIC Private Limited, has extended its recent investments into India’s real estate market via a partnership with private equity firm Kohlberg Kravis Roberts & Co (KKR).

1MDB’s critics politically driven, don’t know full facts, says new chief

Posted on 12 January 2015

The string of attacks against controversial 1Malaysia Development Berhad (1MDB) is politically driven and has no “grounding in reality”, said its newly minted group executive director Arul Kanda, as he prepares to steer the debt-ridden strategic development firm through a review this year.

Super fund execs and trustees split on sponsorships

Posted on 12 January 2015

Despite new research suggesting that few superannuation fund members want to see their funds investing in sporting sponsorships, research conducted by Money Management’s sister publication, Super Review, suggests fund executives and trustees are split on whether members should even be asked their views.

Lawmaker’s bill aims to guard Alaska Permanent Fund benefit

Posted on 12 January 2015

An Anchorage lawmaker is proposing a constitutional amendment to further protect the Alaska Permanent Fund and the dividend that most Alaskans receiving simply for living here. The proposal, from Democratic Sen. Bill Wielechowski, was among the first wave of bills and resolutions filed ahead of the upcoming legislative session and released on Friday. The legislative [...]

Is Canada planning a sovereign wealth fund for its natural resources?

Posted on 09 January 2015

In order to fully optimize Canada’s strategic niche and promote the sustainable development of Canada’s natural resources, a sovereign wealth fund should be established in order to stop borrowing from tomorrow to fund today. A sovereign wealth fund can assist in accomplishing both, while still allowing Canada to exploit its strategic niche.

KKR teams with GIC to form non-banking finance company in India

Posted on 09 January 2015

KKR, the global investment firm, has formed its second non-banking financial company (NBFC) for the Indian market, with an investment from Singapore’s sovereign wealth fund GIC. The new platform will provide structured credit to the country’s real estate sector, the company said in a statement on Thursday.

Why stress that 1MDB new boss is Muslim?

Posted on 09 January 2015

1MDB new boss Arul Kanda Kandasamy is indeed a Muslim but so what? Ahmad Zahid Hamidi is also Muslim, while Idris Jala is a non-Muslim who was recruited for a very important task in Malaysia Airlines (MAS) once.

Did 1MDB mislead auditors over Cayman funds, asks DAP

Posted on 09 January 2015

Sovereign fund 1Malaysia Development Bhd (1MDB) is in for questioning again, over US$1.23 billion of its funds in the Cayman Islands which have not yet been repatriated despite a directive to do so.

Ardian spent more than $10.8 bln on secondaries last year

Posted on 09 January 2015

Ardian, the fund of funds and secondary firm that spun out of French insurance giant AXA in 2013, deployed more than $10.8 billion in 2014 on secondary deals, potentially representing up to one-third of total secondary deal volume.

Time to politician-proof the Heritage Fund

Posted on 09 January 2015

With the price of oil plummeting from more than $90 (U.S.) to less than $50 over the past four months, the Alberta government is suddenly looking at a $6-billion drop in non-renewable resource revenues (NRRR). The consequences seem bleak: a return to either Getty-era deficits, Klein-era budget cuts or some equally unpleasant combination of both.

Qatari Diar transfers Al Khaliji stake to Qatar Investment Authority

Posted on 08 January 2015

Qatari Diar has transferred its shares in Al Khaliji Commercial Bank to Qatar Investment Authority (QIA), the property arm of Qatar’s sovereign wealth fund said on Wednesday. Diar, which had been Al Khaliji’s largest shareholders, moved 61.9 million shares in Qatar’s sixth-largest bank to QIA on Tuesday, without providing further details.

Wealth fund bill limits investments, withdrawals

Posted on 08 January 2015

The tabling of the Sovereign Wealth Fund Bill 2014 and Petroleum Bill 2014 in December 2014 have brought a sovereign wealth fund (SWF) one step closer to becoming a reality in The Bahamas.

Herculean task for new boss to revive 1MDB

Posted on 08 January 2015

First, 1Malaysia Development Berhad (1MDB) shouldn’t have been set up in the first place, as there are already too many of such government investment funds in this country. Second, 1MDB has gone in the opposite direction of its professed mission - not momentarily but consistently throughout its existence. This indicates that the motivating force of [...]

Ata Insurance insured new residence of SOFAZ

Posted on 08 January 2015

Ata Insurance OJSC won the tender held by the State Oil Fund of Azerbaijan (SOFAZ). According to the Company, Ata Insurance OJSC has been officially annouced the winner of the open tender on insurance of the SOFAZ new administrative building. The tender with participation of large insurance companies of Azerbaijan was held on the following [...]

SimCorp selected to support SOFAZ

Posted on 08 January 2015

SimCorp Dimension has signed a licence agreement with the State Oil Fund of the Republic of Azerbaijan (SOFAZ) to support equities, fixed income and alternative investment management activities from front to back offices.

Hayman’s Bass Says Oil Plunge Will Discipline Petro-State Norway

Posted on 08 January 2015

The oil rout that has dragged down Norway’s krone since June will ultimately discipline a government that has relied too much on its petro-dollars to finance expenditure. That’s according to Kyle Bass, the founder and chief investment officer of Hayman Capital Management LP, who was in Oslo yesterday to attend a Skagen AS conference.

Why foreign reserves, Excess Crude Account depleted, by Okonjo-Iweala

Posted on 08 January 2015

The Coordinating Minister for the Economy and Minister of Finance, Dr. (Mrs.) Okonjo-Iweala has offered explanation for the fast depletion in the foreign reserves of Nigeria and also in the Excess Crude Account which have in the past provided strong fiscal buffer to the Nigerian economy and also served as confidence booster to foreign investors.

FG Says Jonathan Did Not Squander Foreign Reserves, ECA

Posted on 08 January 2015

The Federal Government has faulted increasing allegations in some quarters that the administration of President Goodluck Jonathan has squandered the nation’s foreign reserves and Excess Crude Account (ECA), describing such positions as absolutely untrue.

China Investment Corp. Public-Equity Head Zheng Said to Leave

Posted on 07 January 2015

Zheng Kongdong, head of a China Investment Corp. department that specializes in publicly traded stocks, has left the nation’s $653 billion sovereign wealth fund, said three people with knowledge of the matter.

Sovereign-Wealth Funds Went Full Steam Ahead Direct Investing in 2014

Posted on 07 January 2015

Sovereign-wealth funds have been an increasingly aggressive force in the merger and acquisition arena by making multibillion-dollar acquisitions on their own as opposed to paying fees for others to invest on their behalf. These investment institutions also have been active funding startups, helping to drive valuations of some of the most sought-after new businesses, according [...]

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