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VRS - who has written 19515 posts on Opalesque Sovereign Wealth Funds Briefing.


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Oman wealth fund joins initiative to invest in India’s power sector

Posted on 15 September 2016

The State General Reserve Fund (SGRF), a sovereign wealth fund of the Sultanate of Oman, is part of a trio of globally renowned investors that are backing a ‘platform company’ set up to facilitate investment in India’s booming power sector. The platform company has been jointly launched by Tata Power, India’s largest integrated power company, [...]

Mubadala CEO signals more oil deals as IPIC megamerger advances

Posted on 15 September 2016

Mubadala Development Co, the Abu Dhabi sovereign fund merging with International Petroleum Investment Co, said potential energy deals are more attractive after the slump in oil prices drove down asset prices.

Azeri state fund Sofaz sells $78 mln on market

Posted on 15 September 2016

Azerbaijan’s state oil fund Sofaz has sold $78 million on foreign exchange market on Wednesday, fully meeting demand, the fund said.

Oil Fund sells only half of its application through Central Bank’s auction

Posted on 15 September 2016

The State Oil Fund (SOFAZ) and the Central Bank continue centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.

Brexit Triggered Fastest Property Deal for Biggest Wealth Fund

Posted on 14 September 2016

Norway’s $875 billion sovereign wealth fund, the world’s biggest, pounced on London’s Oxford Street after U.K. voters decided to leave the European Union. Just about two weeks after Britons unexpectedly voted to leave the EU at the end of June, the fund snapped up a retail and office property for 124 million pounds ($164 million) [...]

GLP deal a boon for Future Fund

Posted on 14 September 2016

Singapore-listed Global Logistic Properties has delivered a windfall to Australia’s Future Fund in a deal to buy a portfolio of distribution centres in the United States from Hillwood Development for $US1.1 billion ($1.46bn).

Why This Trillion-Dollar Wealth Fund Blacklisted Duke Energy Stock

Posted on 14 September 2016

On a black day for U.S. stocks in general, Duke Energy stock fared worse than most. As stocks all around it tumbled an average of 2.5% Friday, Duke dropped 3.5% — and it could get worse. As reported on Norway’s The Local news site, Norway’s sovereign wealth fund announced last week that it has added [...]

BlackRock’s McKenna Said to Start Merger-Arbitrage Hedge Fund

Posted on 14 September 2016

BlackRock Inc. has started a hedge fund with a $200 million investment from New Zealand’s sovereign-wealth fund that will seek to profit from bets on companies involved in takeovers.

Singapore’s GLP buys logistics portfolio, expands in U.S.

Posted on 14 September 2016

Singapore-based logistics provider Global Logistic Properties announced Tuesday that it was acquiring a $1.1 billion U.S. logistics portfolio from Hillwood Development Company, expanding its reach in America.

Temasek chief on Fortune’s list of 50 most powerful businesswomen

Posted on 14 September 2016

Temasek Holdings executive director and CEO Ho Ching has been ranked eighth in a list of the world’s 50 most powerful businesswomen outside of the US. The list by Fortune magazine is topped by Ms Ana Botin, executive chairman of Banco Santander, the euro zone’s largest bank by market value. At No. 2 is State [...]

ADIC Said to Revive $1.5 Billion Private Equity Portfolio Sale

Posted on 14 September 2016

The Abu Dhabi Investment Council revived plans to sell $1.5 billion of private equity fund stakes, people with knowledge of the matter said. ADIC, which invests in asset classes including private equity, infrastructure and hedge funds, is working with an adviser to find a buyer for the assets, said the people, who asked not to [...]

Norway’s Sovereign Wealth Fund Hampered by Outflows

Posted on 13 September 2016

Norway’s government is withdrawing funds from the nation’s $890 billion sovereign wealth fund as it faces lower prices on crude oil and low-to-negative interest rates. Bloomberg’s Jonas Bergman examines how this may hamper the fund’s ability to manage more risk. He speaks on “Bloomberg Markets.

Will Norway’s Oil Fund Pull Out Of Company Running Controversial Refugee Camps?

Posted on 13 September 2016

In the 18th century, a British navigator sailing past Nauru - a tiny island some 1,800 miles northeast of Australia – named it Pleasant Island. Now, in the 21st century, Australia is transferring asylum seekers to a detention camp on what was formerly known as Pleasant Island – now an independent nation with a population [...]

GIC to buy P3?

Posted on 13 September 2016

GIC, the sovereign wealth fund of Singapore, is rumoured to be in advanced negotiations to buy P3, reports Ziarul Financiar quoting market sources. A formal announcement could be made by the end of the year. Australian group Macquarie is also reported to be interested in purchasing the warehouse developer.

Malaysian sovereign fund Khazanah selling stake in utility Tenaga

Posted on 13 September 2016

Malaysian sovereign wealth fund Khazanah Nasional Bhd is divesting part of its stake in national power utility Tenaga Nasional, two sources familiar with the matter told Reuters on Thursday.

3 Key Political Factors for Attracting Sovereign Funds

Posted on 13 September 2016

In the past year, a number of sovereign wealth fund CIOs have spent quite a bit of time revisiting their geographic exposures. Is this a country that will respect our fiduciary capital? Are there other foreign asset owners investing significant sums of money into this country?

Qataris let Sainsbury’s stake fall over Argos deal

Posted on 13 September 2016

Qatar Investment Authority’s stake in J Sainsbury has fallen by 3 per cent after the sovereign wealth fund declined to pour money into new shares to help to fund the grocer’s purchase of Home Retail Group.

ADIC Said to Revive $1.5 Billion Private Equity Portfolio Sale

Posted on 13 September 2016

The Abu Dhabi Investment Council revived plans to sell $1.5 billion of private equity fund stakes, people with knowledge of the matter said. ADIC, which invests in asset classes including private equity, infrastructure and hedge funds, is working with an adviser to find a buyer for the assets, said the people, who asked not to [...]

Is East Africa Ready for a Sovereign Wealth Fund for its natural resources?

Posted on 13 September 2016

Kenya, Uganda and Tanzania are among the new frontier economies in the oil and gas industry that have over the last decade announced significant hydrocarbon discoveries. These East Africa Countries (EAC) countries have introduced laws to manage oil and gas resources for the benefit of all stakeholders.

China Sovereign Fund Eyes Asian Hedge Funds to Boost Returns

Posted on 12 September 2016

China’s $814 billion sovereign wealth fund may increase investments in hedge funds in Asia, betting they can beat rivals trading in developed markets. Hedge fund managers face fewer competitors in Asia, where markets are less efficient and mature than in the U.S. and Europe, said Roslyn Zhang, managing director of fixed income and absolute-return investments [...]

Former Korea Investment Corp. CIO to join Asian Infrastructure Investment Bank

Posted on 12 September 2016

Dong-ik Lee, former chief investment officer of Korea Investment Corp., will join Asian Infrastructure Investment Bank, the China-backed multilateral development bank launched at the end of 2015, as operational adviser to private-sector investment.

Husni tells of 1MDB epiphany prompting him to quit his post

Posted on 12 September 2016

“Everyone knows that you are not involved in 1MDB. Why are you feeling stressed over the 1MDB issue?” These were the words of a Bank Negara senior official that had led Ahmad Husni Hanadzlah to finally decide to resign as second finance minister and dissociate himself from the 1MDB scandal.

DLF To Invest Rs 500 Crore On Developing IT Park In Chennai

Posted on 12 September 2016

Realty major DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities. Earlier, sources had said that Blackstone, Singapore’s sovereign wealth fund GIC and Abu Dhabi Investment Authority are among shortlisted investors.

Tripoli and Malta LIA handover to PC/GNA Interim Steering Committee

Posted on 12 September 2016

The management of the Libya Investment Authority (LIA) in both Malta and Tripoli handed over the administration of the sovereign wealth investment body yesterday to the Interim Steering Committee appointed by the Faiez Serraj Presidency Council/Government of National Accord (PC/GNA).

New contracts awarded for Oman Antimony Roaster

Posted on 12 September 2016

London-based Tri-Star Resources, a major investor in a joint venture antimony roaster project under development at Sohar Port and Freezone, has awarded key contracts for the Oman project.

KSA Weighing Plans to Cancel Projects

Posted on 12 September 2016

Saudi Arabia is weighing plans to cancel more than US$20 billion of projects and slash ministry budgets by a quarter to repair finances squeezed by low oil prices, people familiar with the matter said — efforts that analysts expect to slow economic growth. The prince also plans to sell a stake in oil giant [...]

Malaysian sovereign fund Khazanah selling stake in utility Tenaga

Posted on 09 September 2016

Malaysian sovereign wealth fund Khazanah Nasional Bhd is divesting part of its stake in national power utility Tenaga Nasional, two sources familiar with the matter told Reuters on Thursday. Khazanah is looking to sell 82 million shares of Tenaga, or about 1.5 per cent of the total shares outstanding, which could raise up to US$294 [...]

The World’s Biggest Oil-Dependent Wealth Fund Goes Full Libtard

Posted on 09 September 2016

Norway’s massive wealth fund said Wednesday it is divesting from one of the largest U.S. utilities over concerns it is not doing enough to reduce pollution. The country’s oil-dependent $900 billion sovereign wealth fund said it can no longer hold assets in Duke Energy, or its subsidiaries, primarily because of the utility’s supposedly poor track [...]

Azeri State Oil Fund sells $200M to local banks

Posted on 09 September 2016

The State Oil Fund of Azerbaijan (SOFAZ) sold $200 million to 22 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 8, SOFAZ said in a message Sept. 8.

Azerbaijan Lifts Dollar Sales Sixfold to Feed Soaring Demand

Posted on 09 September 2016

Azerbaijan sold six times the amount of dollars on Thursday that’s usually offered by its sovereign wealth fund, intensifying efforts to meet rising demand for the U.S. currency after most banks halted their foreign exchange.

Presidential Council Appoints Steering Committee to manage LIA

Posted on 09 September 2016

The Presidential Council recently issued an order to establish a temporary Steering Committee to manage the Libyan Investment Authority (LIA). The motive behind the decision seems sincere – to unite the leadership of our nation’s sovereign wealth fund. However on closer inspection, the decision is bad for the LIA, and bad for Libya.

LIA in Tripoli dismisses claims of handover to steering committee as “simply untrue”

Posted on 09 September 2016

The Libyan Investment Authority (LIA) in Tripoli has dismissed reports today of a handover of power to an interim steering committee, confirming that AbdulMagid Breish remains Chairman of the sovereign wealth fund.

Abu Dhabi’s Mubadala Posts $1.2 Billion Loss in First-Half

Posted on 09 September 2016

Mubadala Development Co., the Abu Dhabi sovereign fund merging with International Petroleum Investment Co., posted a 4.43 billion-dirham ($1.2 billion) loss in the first half because of lower commodities prices and smaller gains from financial investments.

Australian Potash mining firm inks investment pact with Oman wealth fund

Posted on 09 September 2016

Australian-based mineral exploration and development company Elemental Minerals Ltd has announced that it has signed a strategic investment agreement with the State General Reserve Fund (SGRF), the Sultanate’s sovereign wealth fund, that will help finance the development of a major potash project in the Republic of Congo.

Norway’s Sovereign-Wealth Fund to No Longer Invest in Duke Energy

Posted on 08 September 2016

Norway’s sovereign-wealth fund, the world’s largest, said it would no longer invest in Duke Energy Corp. over the Charlotte, N.C.-based utility’s environmental record, a rare move against a specific company to penalize conduct.

Pollution woes prompt SWF to dump Duke Energy

Posted on 08 September 2016

One of the world’s largest investment funds is dumping its shares in Duke Energy Corp. because it sees too much risk in what it called the largest U.S. electric company’s history of environmental damage, the fund’s managers announced Wednesday.

Petrobras to sell 90% in its natural gas pipeline network to a SWF consortium

Posted on 08 September 2016

Brazil’s state-run oil company Petroleo Brasileiro SA, also known as Petrobras, yesterday struck a deal to sell 90 per cent of its natural gas pipeline network to a consortium led by Canada’s Brookfield Asset Management Inc for $5.2 billion, according to a Reuters report.

RMZ, Qatar Fund plan 2nd real estate JV

Posted on 08 September 2016

Bengaluru-based commercial real estate developer RMZ Corp is in the process of forming a second joint venture with Qatar Investment Authority (QIA), sovereign wealth fund of Qatar, to buy development assets across top cities in the country. The new commercial platform will see QIA more than double its investment made through RMZ. In 2013, it [...]

Potash mining firm inks investment pact with Oman wealth fund

Posted on 08 September 2016

Australian-based mineral exploration and development company Elemental Minerals Ltd has announced that it has signed a strategic investment agreement with the State General Reserve Fund (SGRF), the Sultanate’s sovereign wealth fund, that will help finance the development of a major potash project in the Republic of Congo.

Kuwait hopes investment authority contribute to boosting economy

Posted on 08 September 2016

His Highness the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on Wednesday expressed hope that Kuwait Direct Investment Promotion Authority (KDIPA) would play a role in bolstering Kuwait’s economic status.

Mubadala chief signals more oil deals as Ipic merger advances

Posted on 08 September 2016

Mubadala Development Company, the Abu Dhabi sovereign wealth fund merging with International Petroleum Investment Co (Ipic), said potential energy deals are more attractive after the slump in oil prices drove down asset prices.

Citi’s former TM head joins sovereign wealth fund

Posted on 08 September 2016

Steven Dalzell, the former global head of transition management at Citi, has joined the Abu Dhabi Investment Authority (ADIA). Dalzell, who spent six years at Citi and has also worked at BlackRock, will take charge of the sovereign wealth fund’s transition management operations.

Libya’s Rival Sovereign-Wealth Fund Chiefs Seek Truce

Posted on 07 September 2016

Management of the frozen $67 billion fund has been the subject of a power struggle between competing governments. Rival chairmen of Libya’s $67 billion sovereign-wealth fund say they want to settle their differences and unify its management, seeking to end a feud that began during the country’s civil war.

Abu Dhabi’s Mubadala CEO doesn’t rule out more M&A

Posted on 07 September 2016

The chief executive of Abu Dhabi state fund Mubadala said he did not rule out more mergers and acquisitions in the emirate after the planned merger of his institution with another of Abu Dhabi’s sovereign funds. “From a personal point of view, there is no doubt,” Khaldoon Khalifa al-Mubarak said, when asked about the possibility [...]

RMZ to float second JV with Qatar Investment Authority

Posted on 07 September 2016

Bengaluru-based commercial real estate developer RMZ Corp is in the process of forming a second joint venture with Qatar Investment Authority (QIA), sovereign wealth fund of Qatar, to buy development assets across top cities in the country.

Behind the 1MDB scandal: How banks missed clues and bowed to pressure

Posted on 07 September 2016

Financier Jho Low, who investigators believe is at the centre of one of the largest-ever financial scandals, kept up a stream of messages to an official at AmBank Bhd. Mr Low was obsessed about how the bank handled the peculiar accounts of Malaysian Prime Minister Najib Razak.

Temasek’s SMRT offer price deemed reasonable

Posted on 07 September 2016

Temasek Holdings’ $1.68-a-share offer to take SMRT Corp private is “fair and reasonable”, according to the independent financial adviser Rothschild. It has recommended that shareholders either vote in favour of the scheme at a meeting on Sept 29 or sell their shares in the open market if they are able to obtain a higher price.

Temasek reorganises its philanthropic organisations to better serve community

Posted on 07 September 2016

Investment company Temasek announced on Tuesday (Sept 6) the launch of its new philanthropic platform, to better serve the evolving needs of the community. “The new platform aims to enhance overall effectiveness by optimising resources in the delivery of programmes to beneficiaries, and to increase collaboration to achieve better outcomes,” said Temasek in a statement.

Russian Wealth Fund Has This Year’s Biggest Drop as Buffers Wilt

Posted on 07 September 2016

One of Russia’s two sovereign wealth funds had its biggest drop of the year in August, underlining the urgency of bringing the deficit under control as the budget gap remains on track for the widest since 2010.

Norway’s central bank to publish minutes of board meetings

Posted on 07 September 2016

Norway’s central bank will start publishing the minutes of its board meetings and aims to become more transparent even though discussions on monetary policy will remain exempt, the bank said on Tuesday.

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