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VRS - who has written 16969 posts on Opalesque Sovereign Wealth Funds Briefing.


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Temasek leads $40m funding into invoice marketplace C2FO

Posted on 13 August 2015

Singapore state fund Temasek Holdings has led a $40 million funding round into US-headquartered innoice marketplace startup C2FO, the company announced. Temasek joins a growing list of C2FO investors including Union Square Ventures, Summerhill Venture Partners, OPENAIR Equity Partners, Mithril Capital, and Tiger Global.

Kwa Chong Seng to be next Olam chairman

Posted on 13 August 2015

Kwa Chong Seng will become non-executive chairman at Olam International from Oct 31, replacing Mr R Jayachandran who is retiring, the Singapore-listed agricultural commodities giant said on Wednesday (Aug 12). Olam International Ltd. to is the commodity trader controlled by Temasek Holdings Pte.

Top wealth fund says half its stock trades now outside exchanges

Posted on 13 August 2015

Up to half of all shares traded by the world’s largest sovereign wealth fund are bought and sold outside of stock markets in a bid to cut transaction costs, a fivefold rise since 2010, a senior executive at Norges Bank Investment Management (NBIM) said.

Norway’s Sovereign Wealth Fund Pinched by Cheap Oil (Video)

Posted on 13 August 2015

In today’s “Single Best Chart,” Bloomberg’s Brendan Greeley displays how the decline in oil revenues in Norway is impacting the nation’s budget and sovereign wealth fund investments. He speaks on “Bloomberg Surveillance.”.

Norway’s Sovereign Wealth Fund Blasts HFT

Posted on 13 August 2015

Norway’s sovereign wealth fund suggests stock exchange operators should abandon the race for faster data systems and instead focus on innovating for a changing investor landscape. Norges Bank Investment Management (NBIM), which holds over $500 billion in global equities, called for a more fundamental revamp of trading on exchanges in a recent white paper.

A Swiss Sovereign Wealth Fund: Not such a smart idea

Posted on 12 August 2015

After years of combating a strong franc, the Swiss National Bank (SNB) finds its foreign exchange coffers full, ready to burst. Unnoticed by many, in the last four years, Switzerland has crept into the ranks of the five countries with the largest currency reserves. Now there are calls from various political quarters for the SNB [...]

Egypt launches sovereign wealth fund as economy bites

Posted on 12 August 2015

In June, Egypt’s cabinet formally approved plans for the country to establish a Sovereign Wealth Fund (SWF). According to Planning Minister Ashraf El-Araby, the fund is to be called Amlak, and will be state owned via the National Investment Bank. The SWF will also be tasked with running a number of state assets.

Abu Dhabi Sovereign Fund Unit CEO Departs, CIO Said to Leave

Posted on 12 August 2015

Nazem Al Kudsi, the chief executive officer of Abu Dhabi Investment Company, a unit of sovereign wealth fund Abu Dhabi Investment Council, has left after seven years at the firm, the company said.

GIC in Carlyle-led consortium to buy Veritas for $11b

Posted on 12 August 2015

A consortium led by Carlyle Group, including sovereign wealth fund GIC, is buying information management service provider Veritas for US$8 billion (S$11 billion). The deal is the largest private-equity takeover of a technology company this year. GIC’s share was not disclosed but is understood to be significantly smaller than that of Carlyle’s. The deal is [...]

Macquarie advisers jump ship to Sovereign Wealth

Posted on 12 August 2015

A senior Macquarie Private Wealth team has departed the bank’s Sydney office and is starting its own firm, Sovereign Wealth Partners, providing yet another example of the trend to boutiques. overeign Wealth will be majority-owned by advisers Jeffrey Wrightson, Stephen Thaxter, Chris Forrest and Nina Kazmierczak, while Bennelong Wealth Partners is taking a minority stake [...]

Symantec to sell Veritas for $8 billion to focus on security software

Posted on 12 August 2015

Norton antivirus software maker Symantec Corp has agreed to sell its data storage unit, Veritas, for $8 billion to a group led by Carlyle Group LP as it seeks cash to turn around its core security software business.

Noble Group mulls raising funds from strategic investor

Posted on 12 August 2015

Noble Group is considering issuing a convertible note to a strategic investor, one of several steps the commodities trader is assessing to revive investor confidence after a damaging accounting dispute, a person with direct knowledge of the situation told Reuters. Bankers say China Investment Corp (CIC), Noble’s second-largest shareholder which owns a stake of about [...]

2008 Was a Walk in the Park, But $50 Oil is Norway’s Worst Nightmare

Posted on 12 August 2015

Scandinavia’s richest country may need to withdraw money from its sovereign wealth fund to plug its budget gap if the price of oil remains below $50 a barrel. Norway’s resource-rich economy escaped the worst of the 2008 financial crisis, with high oil prices ensuring robust growth.

2015: Strong Start for Sovereign Wealth Fund Deals

Posted on 11 August 2015

Despite a possible future slowdown in the global economy, direct sovereign wealth fund transactions for the first half of 2015 conquered the first half of 2014. According to the Sovereign Wealth Fund Transaction Database (SWFTD), wealth funds generated US$ 64 billion worth of deals in the first half of 2015 versus US$ 52 billion [...]

Norway might have to dip into its savings

Posted on 11 August 2015

If the government has to withdraw money from its $875 billion sovereign wealth fund, it will be a historical step. It’s either that, or heavily rein in fiscal spending at a time when the country needs it most. The state’s spending could start to outstrip income from oil, which it pours into its wealth fund [...]

‘Responsible investing’ benefits from weaker resources market

Posted on 11 August 2015

In June, Norway’s $US890 billion government pension fund, considered the largest sovereign wealth fund in the world, said it would sell many of its investments related to coal. he decisions by large superannuation and global pension funds to divest and screen companies based on environmental, social and governance (ESG) factors is being driven by the [...]

The World’s Largest Sovereign Wealth Fund Is About To Become A Seller

Posted on 11 August 2015

When last we checked in with Norway, the country’s sovereign wealth fund – the largest in the world- was busy going full tin foil hat fringe blog, blasting monetary policy’s iron grip on asset prices and bemoaning the presence of parasitic HFTs and increasingly fragmented markets which conspire to cost institutional investors and those they [...]

Norway’s sovereign wealth fund snaps up London landmarks

Posted on 11 August 2015

Two of London’s most famous streets are now part-owned by Norway’s sovereign wealth fund after it paid £343m to snap up a share in an estate covering four acres of the capital’s West End. avile Row, the Mayfair street renowned for its men’s tailors and for hosting the Beatles’ final live performance at the former [...]

Samruk-Kazyna Launches 35 Big Projects over Last 3 Years

Posted on 11 August 2015

Kazakhstan’s Samruk-Kazyna National Welfare Fund has launched 35 new industrial investment projects over the last three years, Chief Business Development Director and Member of the Board at the sovereign wealth fund, Berik Beisengaliyev stated at a press briefing in the Central Communications Service, according to Kazinform.

Temasek Keen to Build Bantaeng Port

Posted on 11 August 2015

Temasek Holding, an investment firm from Singapore, is keen to build Bantaeng port in South Sulawesi which will cost about Rp4 trillion, Investor Daily reported this morning. he government of Bantaeng regency and Temasek will in near term sign the memorandum of understanding (MoU) for this project.

Temasek Holdings subsidiary subscribes to shares of Oberoi Realty Limited

Posted on 11 August 2015

Aranda Investments (Mauritius) Pte. Ltd is an indirect wholly-owned subsidiary of Temasek Holdings Pte. Ltd. Oeroi Realty Limited, India (ORL) is a real estate development company, which primarily operates in Mumbai, with a focus on premium developments. It has a diversified portfolio of projects in mixed-use or single-segment developments, which cover the main segments of [...]

ADIA, OMERS consortium to acquire German motorway company

Posted on 11 August 2015

A group including the Abu Dhabi Investment Authority (ADIA) and the Ontario Municipal Employee Retirement System (OMERS) is investing in a German motorway services company. llianz Capital Partners and Munich Re’s MEAG joined the consortium, which is buying Tank & Rast from Terra Firma Capital Partners and a fund managed by Deutsche Asset and Wealth [...]

Norway oil fund chief fears boards neglecting core task

Posted on 10 August 2015

The world’s biggest sovereign wealth fund is increasingly concerned that company boards are overburdened and in danger of losing out to private equity groups in recruiting the best directors. Yngve Slyngstad, chief executive of the manager of Norway’s $870bn oil fund, told the Financial Times that listed companies were neglecting their core role of making [...]

Norway’s oil fund forced to find new philosophy

Posted on 10 August 2015

As you might expect of somebody who once spent six months alone in an Arctic cabin studying Kant, Hegel and Heidegger, Yngve Slyngstad is something of a corporate philosopher. The chief executive of the world’s largest sovereign wealth fund, Norway’s oil fund, is not content with trying to make more money for the local population. [...]

Norway oil fund chief jettisons passivity

Posted on 10 August 2015

As befits somebody who once spent six months alone in a remote Arctic cabin studying Kant, Hegel and Heidegger, Yngve Slyngstad is something of a corporate philosopher. Mr Slyngstad, who heads Norway’s oil fund, the world’s largest sovereign wealth fund, is not merely content with trying to make more money for the local population. He [...]

Stock exchanges must improve trading model - Norway wealth fund

Posted on 10 August 2015

Global stock exchanges are failing to meet the needs of large institutional traders and are increasingly losing out to private equity when companies seek to raise cash, the world’s largest sovereign wealth fund said in a report published on Friday. The Norwegian Government Pension Fund Global, with assets of $875 billion, owns about 1.3 percent [...]

Malaysian sovereign wealth fund: Low crude oil prices, weaker ringgit have advantages

Posted on 10 August 2015

Sovereign wealth fund Khazanah Nasional Bhd said low crude oil prices as well a weaker ringgit has its advantages and disadvantages. “Crude at US$50 (S$69) or below is not good for the country obviously, but there is also a flipside to it. For example, Khazanah companies that are consumers of oil and gas like [...]

SG50: Temasek chairman tops list of National Day Award recipients

Posted on 10 August 2015

Former Cabinet minister and Temasek Holdings chairman S Dhanabalan tops the list of 3,888 National Day Awards recipients this year, being awarded the nation’s highest honour, the Order of Temasek (First Class).

KSA may increase focus on nonoil revenue generation

Posted on 10 August 2015

Pressure on Saudi Arabia’s state finances is mounting as oil prices fall but the latest official figures suggest the world’s top crude exporter still has at least several years before it faces a budget crunch. A study by a former SAMA official released last week said the world might have entered a sustained period of [...]

GIC building up its real estate assets for steady returns

Posted on 07 August 2015

Sovereign wealth fund Government of Singapore Investment Corporation (GIC) has been acquiring more real estate assets in recent years, and is keeping its ear to the ground for more deals, even as competition in the sector intensifies.

Taiwan needs a sovereign wealth fund

Posted on 07 August 2015

The idea of a sovereign wealth fund has long been a contentious topic. The program represents the first time for the proposal to be put on the government’s agenda, underscoring the awareness of the need for new conceptual approach for economic development. Sovereign wealth funds have been embraced by both developed and developing nations — [...]

As Others’ Eyes Roam, a Qatari Sheikh Sticks With Europe

Posted on 07 August 2015

While most sovereign wealth funds in the Gulf are moving away from European trophy assets, Sheikh Hamad Bin Jassim Bin Jabr Al Thani is sticking to a strategy honed as head of the $250 billion Qatar Investment Authority. The former Qatari prime minister is taking a 10 per cent stake in Spain’s El Corte Ingles, [...]

Saudi foreign reserves fall to lowest since March 2013

Posted on 07 August 2015

Net foreign reserves at Saudi Arabia’s central bank fell to 2.492 trillion riyals ($664.5 billion) in June, down 1.2 percent from May to their lowest level since March 2013, latest central bank data has showed. The world’s largest oil exporter has been drawing down its reserves to cover a huge state budget deficit caused by [...]

Can Putin Save Russia’s Struggling Companies?

Posted on 07 August 2015

The government and central bank are spending billions trying. The government says it’s prepared to spend as much as 60 percent of a $75 billion sovereign wealth fund to help provide financing for companies as well as major industrial and infrastructure projects. It’s also pressuring the central bank to expand its project finance program. Including [...]

Singapore brings more connectivity to China

Posted on 06 August 2015

China has good reasons to encourage more cooperation with Singapore. The Shanghai Stock Exchange has stumbled in the past few weeks. Nevertheless, Singaporean investment firms have not lost hope. The Singapore sovereign wealth fund, GIC, which manages over $US 344 billion in assets, has vowed to keep buying into China’s volatile stock market.

Brigade-GIC buys Nerolac Paints land in Chennai for Rs 550 crore

Posted on 06 August 2015

Brigade Properties a joint venture between Brigade Enterprises and GIC, Singapore will jointly acquire a 15.86 acres of land parcel from Global paint major KansaiNerolac Paints in Chennai in a deal valued at Rs 550 crore.

IHH buys stake in India’s Global Hospitals

Posted on 06 August 2015

Parkway Hospital, owned by Malaysia’s biggest healthcare group IHH, has acquired 74 per cent stake in Hyderabad-based Global Hospitals for an equity value of Rs 1,800 crore, two people with direct knowledge of the development said. Malaysia’s sovereign wealth fund Khazanah Nasional is the majority shareholder of IHH Healthcare.

Why investors are snubbing Malaysian ‘bargains’

Posted on 06 August 2015

Malaysia’s stocks and currency have tumbled but bargain buyers don’t appear likely to step up any time soon as foreign investors remain leery, analysts said. “Our economists are constructive on Malaysia’s medium-term prospects,” Khoon Goh, senior foreign-exchange strategist at ANZ, said. “Unfortunately, the fundamentals are being overshadowed by domestic political developments that have soured sentiment [...]

Korea fund managers demand clarity on tax reforms

Posted on 06 August 2015

Korean fund managers have called for greater clarity over tax exemptions for funds that invest abroad. Tax disincentives have generally been cited by foreign fund managers in Korea as one of the biggest hurdles of developing funds which invest overseas, given that Korean investors are subject to a withholding tax of 14.5% on foreign funds.

Banglades sovereign wealth fund in the offing to fix infrastructure

Posted on 06 August 2015

Bangladesh plans to form a sovereign wealth fund with its foreign currency reserves to invest in infrastructure, the lack of which is turning out to be the main barrier to getting out of the 6-percent economic growth trap. A sovereign wealth fund (SWF) is a pool of money derived from a country’s reserves, set aside [...]

Taiwan needs a sovereign wealth fund

Posted on 05 August 2015

Despite the dubious effect of the expansionary measures contained in the “program for boosting the economic strength” recently rolled out by Taiwan’s National Development Council due to the government’s financial shortfall and sluggish private investments, the proposal to study the setup a sovereign wealth fund in the program warrants serious consideration as it can generate [...]

Bangladesh: Sovereign wealth fund in the offing to fix infrastructure

Posted on 05 August 2015

Bangladesh plans to form a sovereign wealth fund with its foreign currency reserves to invest in infrastructure, the lack of which is turning out to be the main barrier to getting out of the 6-percent economic growth trap. A sovereign wealth fund (SWF) is a pool of money derived from a country’s reserves, set aside [...]

India: Infratweets: Boosting infra companies

Posted on 05 August 2015

The National Infrastructure and Investment Fund, proposed by finance minister Arun Jaitley in Budget 2015, mimics a Sovereign Wealth Fund with a domestic infrastructure bias. The National Infrastructure and Investment Fund, proposed by finance minister Arun Jaitley in Budget 2015, mimics a Sovereign Wealth Fund with a domestic infrastructure bias.

Singapore’s GIC tees up $1b real estate secondaries exit: Report

Posted on 05 August 2015

The Government of Singapore Investment Corporation (GIC) has hired Greenhill Cogent to sell a large portfolio of real estate fund interests, PERE publication Secondaries Investor said in a report. Singapore’s sovereign wealth fund could sell real estate assets to the tune $1 billion, transaction is expected to launch in the fall, the report added, quoting [...]

China’s Sovereign Wealth Fund Seeking Alpha in Silk Road

Posted on 05 August 2015

China Investment Corporation (CIC), one of China’s four sovereign wealth funds, began overseas direct investment operations last Monday in the One Belt, One Road (OBOR) initiative. Caixin.com reported that CIC Capital, CIC’s overseas direct investment branch started in 2015, may have received $100 billion from a Ministry of Finance (MOF) bond issue in part for [...]

An investment from China’s sovereign wealth fund to Didi Kuaidi bodes well for ridesharing in China

Posted on 05 August 2015

Ridesharing’s legal future in China remains just as uncertain now as it was two years ago. For every government endorsement of Uber-like services, there’s another statement from officials that hints at a crackdown. But reports of a new investor serves as the best indicator yet that the industry has at least partial support from the [...]

WB predicts decline in Azerbaijan Oil Fund’s assets to $33.17 bn

Posted on 05 August 2015

The embargo on the publication of the Country Partnership Framework (CPF), endorsed by the World Bank Board of Directors on 21 July, has been lifted.

KIA buys 10% stake in Associated British Ports

Posted on 05 August 2015

Kuwait Investment Authority (KIA), the Kuwait’s sovereign wealth fund, has acquired a 10% stake in Associated British Ports (ABP). The news comes after GS Infrastructure Partners (GSIP), part of Goldman Sachs, and Infracapital, a subsidiary of Prudential, sold their stakes in the group, which operates 21 ports in the UK.

Bangladesh to launch sovereign wealth fund: central bank chief

Posted on 04 August 2015

Bangladesh is readying a sovereign wealth fund to channel its foreign exchange reserves to infrastructure investments, the governor of the country’s central bank told The Nikkei in a recent interview.The fund, to be launched in the next few months at the earliest, will have an initial size of $1 billion to $2 billion, said Gov. [...]

Papua New Guinea: Managing Sovereign Wealth Fund

Posted on 04 August 2015

Director of the Institute of National Affairs, Paul Barker, said the Sovereign Wealth Fund (SWF) must be managed properly with the highest principle of governance. Barker gave an insight into the newly passed bill saying the sovereign wealth fund depends highly on its stabilisation and savings components.

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