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VRS - who has written 15434 posts on Opalesque Sovereign Wealth Funds Briefing.


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Uber’s Investor Club Adds Two Hedge Funds, Qatar’s Sovereign Wealth Fund

Posted on 08 December 2014

The elite club of Uber shareholders just added a few new members. New investors in the ride-sharing startup’s $1.2 billion round of funding included Middle East sovereign wealth fund Qatar Investment Authority and two hedge funds, Valiant Capital Partners and Lone Pine Capital, according to people familiar with the matter.

Fracking fund idea attacked

Posted on 08 December 2014

The heated debate over fracking was ignited once again today after Chancellor George Osborne confirmed plans for a shale gas “sovereign wealth fund” to boost the north of England. The Chancellor reiterated that the Government wanted to encourage the development of shale gas – a move yet to be approved by Lancashire planners.

Norwegian fund opts not to exclude coal and oil

Posted on 08 December 2014

The Norwegian sovereign wealth fund will not be forced to sell coal and oil stocks but will try to influence better ethical behaviour on a case-by-base basis by shareholder engagement. Opposition parties in Norway had called for the fund, which, ironically, exists to invest Norway’s income from selling oil, to divest from fossil fuel companies.

Sovereign funds pave a path to shared prosperity

Posted on 05 December 2014

A decade ago, the phrase “Sovereign Wealth Fund” made some European and American politicians shudder. No wonder. Back then — or before the 2008 financial crisis — these entities mostly hailed from Asia and the Middle East, and were lamentably opaque. So much so, that they were popularly perceived in the west as the financial [...]

Shrinking oil revenues could dig into funds

Posted on 05 December 2014

Energy-exporting countries which have stashed billions in windfalls in sovereign investment funds may be forced to draw down on them as oil revenues shrink, sending a chill through stock, bond and property markets worldwide. Oil-based sovereign wealth funds are a major force in international finance, holding more than $5 trillion (R56 trillion) in assets, according [...]

Qatar fund and partner raise offer for Canary Wharf-owner Songbird

Posted on 05 December 2014

Qatar’s sovereign wealth fund and a North American investor have upped their joint bid for Songbird Estates, the owner of London’s Canary Wharf financial district, with an offer that values the company at 2.6 billion pounds ($4.1 billion).

Brookfield, Qatar raise bid to $4.6-billion in Canary Wharf deal

Posted on 05 December 2014

The property arm of Canada’s Brookfield Asset Management and a Qatar investment fund have boosted their bid for the British company that controls Canary Wharf in a final effort to take control of Europe’s largest office development.

Al-Sayed’s exit shows Qataris operate on a different plane

Posted on 05 December 2014

Ahmad al-Sayed was ousted from the top of the Qatar Investment Authority, the £200 billion sovereign wealth fund that holds large stakes in Barclays and Credit Suisse, owns Harrods, and wanted to purchase Canary Wharf. His successor is Sheikh Abdullah bin Mohammed bin Saud al-Thani, a member of the Qatari royal family.

Putin orders cash from Russia’s wealth fund be used to support banks

Posted on 05 December 2014

Money collected in one of Russia’s two “rainy day” funds should be used to support domestic banks, President Vladimir Putin said on Thursday, as he set out efforts to help Moscow counteract Western sanctions and overcome its economic woes.

Norway’s oil fund will continue to invest in fossil fuels

Posted on 05 December 2014

A government panel has rejected calls for Norway’s $870 billion (£555bn) wealth fund to divest from polluting fossil fuels, instead advocating an engagement approach.

Norway To Assess Fossil Fuel Assets Case-By-Case

Posted on 05 December 2014

Norway’s $870 billion sovereign wealth fund announced the findings of a government commission Wednesday of its current coal, oil, and gas investments, stating that the most harmful of these climate offenders would be excluded from the Fund on a “case-by-case basis.”

Experts urge Norway oil fund to consider climate

Posted on 05 December 2014

An expert panel recommended on Wednesday that Norway’s sovereign wealth fund, the world’s largest, give more consideration to climate change in its investments but stopped short of calling for it to spurn fossil fuels as demanded by environmentalists.

UK: The Autumn Statement And Shale Gas: Overcoming Resistance?

Posted on 05 December 2014

The notion of a shale gas Sovereign Wealth Fund isn’t new. It was mentioned in early 2013, and considered by the House of Lords just last month.

Demand for oil fund as England gets fracking cash

Posted on 05 December 2014

The Scottish Government last night renewed calls for a sovereign wealth fund to be set up for North Sea oil and gas, after Chancellor George Osborne unveiled a scheme for the north of England to benefit from fracking revenues.

Singaporean sovereign wealth fund seals initial investment in Emperador

Posted on 05 December 2014

In a disclosure to the Philippine Stock Exchange, the listed brandy maker owned by billionaire Andrew Tan said Arran Investment Private Limited “completed today its initial investment in Emperador Inc of P17.6 billion comprising the purchase of common shares and equity-linked securities convertible to common shares and an option to invest additional amount of P4.4 [...]

Singapore fund completes P22-B investment in Emperador

Posted on 05 December 2014

Arran Investment Pte. Ltd., an affiliate of Singapore sovereign wealth fund GIC Pte. Ltd., has completed its P22 billion investment in the Andrew Tan-led Emperador Inc.In a disclosure to the Philippine Stock Exchange (PSE), liquor firm Emperador said, “Arran Investment Private Limited, an affiliate of GIC Private Ltd., Singapore’s sovereign wealth fund, has completed today [...]

Oil states’ recourse to sovereign funds could rattle world markets

Posted on 04 December 2014

Energy-exporting countries which have stashed billions in windfalls in sovereign investment funds may be forced to draw down on them as oil revenues shrink, sending a chill through stock, bond and property markets worldwide.

Autumn Statement: Chancellor to establish sovereign wealth fund for the North of England with shale gas cash

Posted on 04 December 2014

Chancellor of the Exchequer George Osborne has used his Autumn Statement to confirm plans for a new sovereign wealth fund for the North of England. Speaking to a packed House of Commons the Chancellor said the new fund would use tax receipts from the exploitation of shale gas reserves in the North of England to [...]

Osborne plans ‘fracking fund’ for the North

Posted on 04 December 2014

The government will create a sovereign wealth fund for the North of England so that shale gas revenues in the region can be used to invest in its own economic growth, George Osborne has announced. Setting out the proposal as part of Autumn Statement measures to create what he calls a Northern Powerhouse, the chancellor [...]

Fracking fund for North is ‘fantastic opportunity’, say business chiefs

Posted on 04 December 2014

Government plans to use income from controversial fracking to boost the North of England economy are a “fantastic opportunity”, say business leaders. However, environmental campaigners claimed the Chancellor was taking the country in the wrong direction by showing its support for shale gas by creating a sovereign wealth fund.

Faint praise for national shale gas fund as critics say it comes too late

Posted on 04 December 2014

The announcement of a new Sovereign Wealth Fund for the North to invest money from shale gas has been hailed by experts as a great idea – though critics say it comes several decades too late and that it is by no means certain there will be a big shale bounty.

Norway: oil fund climate change action should be case by case

Posted on 04 December 2014

Norway’s $870 billion wealth fund is not an effective tool to fight climate change, a government commission said on Wednesday, rebuffing opposition calls that it should be forced to sell out of all coal investments.

Norway Oil Fund Urged to Exclude Firms on Climate Grounds

Posted on 04 December 2014

Norway’s sovereign wealth fund, the world’s biggest, should be allowed to exclude companies whose acts or omissions are “severely harmful to the climate,” an expert group said on Wednesday, amid mounting pressure for the fund to exit fossil assets, especially coal companies, to counter global warming.

Norwegian oil fund should divest firms ‘harmful’ to global climate – report

Posted on 04 December 2014

Norway’s sovereign wealth fund should be allowed to exclude any business that is “severely harmful” to the global climate, according to a new report, but should not categorically exclude fossil fuel companies.

Norway’s sovereign wealth fund sticking with oil

Posted on 04 December 2014

Norway’s oil fund is set to stay invested in oil. An expert committee set up by the Norwegian government recommended on Wednesday that the $870bn oil fund should not automatically sell out of all fossil fuel companies, reports Richard Milne.

Oil fund’s coal investments ‘OK’

Posted on 04 December 2014

An expert commission thinks its perfectly fine for Norway’s huge oil fund to keep investing in coal and other fossil fuels. Environmentalists objected immediately, but the commission argued that the fund can have more influence and control over coal production if it continues to be a major owner in coal companies.

Russian investment fund eyeing more joint ventures with Turkey

Posted on 04 December 2014

Defying rising pressure on Ankara from Western powers to join economic sanctions against Moscow, Turkey and Russia have taken yet another bold step toward deepening their joint investment cooperation. The move has prompted a top executive of the state-run $10 billion Russian Direct Investment Fund (RDIF) to express his admiration for Turkey’s “entrepreneurial spirit.”

Emir appoints new CEO at Qatar Investment Authority

Posted on 04 December 2014

Qatar appointed a new chief executive of its sovereign wealth fund on Wednesday, naming ruling family member Sheikh Abdullah bin Mohamed bin Saud al-Thani as the new head of the Qatar Investment Authority (QIA), one of the top investors globally.

Two foreign funds vying for Ssangyong E&C

Posted on 04 December 2014

Four bidders, including two foreign funds, are in talks to acquire South Korean builder Ssangyong Engineering & Construction Co., industry sources said on Wednesday. Dubai’s sovereign wealth fund and a Singaporean private equity fund were selected as qualified bidders for the takeover of Korea’s 19th-largest building firm by construction capacity, sources said. The other [...]

1MDB plans January meetings with cornerstones for US$3b energy IPO

Posted on 04 December 2014

Heavily indebted 1Malaysia Development Bhd (1MDB) is planning meetings in January with potential cornerstone investors for the US$3 billion IPO of its power business 1MDB Energy, said sources familiar with the matter. The initial public offering is aimed at helping the state investor, known as 1MDB, reduce a debt burden that exceeds US$11.

Singapore’s GIC Fund Wagers on U.S. Property

Posted on 04 December 2014

Singapore’s sovereign-wealth fund is making a big bet on U.S. industrial property, as a strengthening American economy and the growth of online shopping fuel demand for warehouses and distribution centers.

GIC beefs up real-estate portfolio with US$8.1b purchase of IndCor

Posted on 03 December 2014

Singapore sovereign wealth fund GIC has confirmed news that its affiliates will buy US industrial property company IndCor Properties Inc from Blackstone Group LP for US$8.1 billion, making it yet another major real-estate investment for the fund. A GIC spokesman confirmed the purchase on Tuesday, following Blackstone’s announcement of the deal.

Blackstone selling IndCor Properties to Singapore’s GIC for $8.1B

Posted on 03 December 2014

Steve Schwarzman’s Blackstone Group said it would sell its US industrial platform IndCor Properties to affiliates of Singapore sovereign wealth fund GIC for $8.1 billion. As a result of the deal, IndCor will no longer pursue an initial public offering filed in September, Blackstone said in a statement.

Its official: GIC to buy Blackstone’s industrial property arm for S$10.6 billion

Posted on 03 December 2014

GIC is acquiring IndCor, the industrial real estate arm of American investment giant Blackstone Group, for US$8.1 billion (S$10.6 billion), the Singapore sovereign wealth fund said yesterday as demand for warehouses and other logistics facilities in the United States climbs from Web retailers and other customers.

Norway’s $870 Billion Fund Closer to Expanding Asset Pool

Posted on 03 December 2014

Norway moved a step closer to deciding whether its sovereign wealth fund, the world’s largest, will be allowed to broaden its investments to include infrastructure as part of a strategy to increase returns.

Norway Considers Investing Oil Fund in Infrastructure

Posted on 03 December 2014

Norway is assessing whether to allow its sovereign-wealth fund to invest in unlisted infrastructure, potentially including railways, pipelines and power plants, a move that would expand its asset universe from stocks, bonds and real estate.

Russian fund eager for joint investment with Turkey in media, TV series

Posted on 03 December 2014

“Turkish television series are very popular in Russia,” Kirill Dmitriev said on Dec. 1 during a speech on diversifying fields of bilateral cooperation in joint investments with Turkey in areas such as engineering, infrastructure and logistics, in addition to the existing cooperation in construction field.

Qatar’s Barwa Signs Deal To Sell Land Plots For $1.47bn

Posted on 03 December 2014

Qatar’s Barwa Real Estate has signed a deal to sell two plots of land for a combined QAR5.34 billion ($1.47 billion) to an unidentified buyer, the company said on Tuesday. Qatar’s government owns a 45 per cent stake in Barwa, according to Reuters data. In October, the developer said it would sell land worth QAR2.54 [...]

Wyoming stashes $793M in savings, projects $4.4M shortfall

Posted on 03 December 2014

During recent sessions lawmakers have informally proposed savings goals of $3.5 billion in the “rainy day” fund, and $8 billion in the Permanent Wyoming Mineral Trust Fund by 2018. As of this writing the funds have respective balances of $1.996 billion and $6.846 billion. Mead continues to recommend growing the “rainy day” fund to $3.5 [...]

Lazada Group Raises $249 Million, Led by Singapore’s Temasek

Posted on 02 December 2014

E-commerce startup Lazada Group just got a financial boost as it seeks to dominate online shopping in Southeast Asia. The company said in a statement that it has secured 200 million euros (US$249 million) in new funds lead by Temasek Holdings, marking the first contribution from the Singapore state investment company.

Singaporean Fund Backs Branson Cruise Venture

Posted on 02 December 2014

A Singaporean sovereign wealth fund is to back Sir Richard Branson’s attempt to break into the global cruise market. Sky News has learnt that the Government Investment Corporation of Singapore (GIC) will join the buyout firm Bain Capital as a founding shareholder in Virgin Cruises.

Khazanah Evaluating Business Proposals On MAS

Posted on 02 December 2014

Khazanah Nasional Bhd, which said Friday that it is on track to make a key leadership appointment by end of December, is evaluating business proposals, of which it has received no less than 28, to either participate in or complement its Malaysian Airline System (MAS) Recovery Plan.

Khazanah establishes Malaysia Airlines’ successor holding company

Posted on 02 December 2014

Malaysia Airlines is on track with its restructuring programme the carrier’s majority shareholder, Khazanah Nasional Berhad, has said. The carrier’s overhaul has taken on an air of increased urgency after it reported a third quarter net loss of MYR576.11 million (USD170.39 million), up from MYR375.4 million in the same period last year. For the first [...]

Defence force pay deal dwarfed by offer to Future Fund staff

Posted on 02 December 2014

Tony Abbott’s claim that no one would get a better rate than defence workers appears to be disputed at Senate estimates hearing. Some public servants are getting a bigger pay rise than defence personnel, despite Tony Abbott’s assurances to the contrary.

Norway Wealth Fund Targets $3 Billion in Green Technology Stakes

Posted on 02 December 2014

Norway’s sovereign wealth fund, the world’s largest, will invest almost $3 billion into green technology stocks next year, Chief Executive Officer Yngve Slyngstad signaled. tarting Jan. 1, the $870 billion fund will accelerate investments in renewable energy, waste management and energy-storage companies, among others, Slyngstad said last week in an interview after giving a speech [...]

How the World’s Largest SWF Gets the Best from Active Managers

Posted on 02 December 2014

Norway’s sovereign wealth fund has proposed a new approach to benchmarks that it claims can boost the benefits of investing with active stockpickers. In a discussion note published on its website, Norges Bank Investment Management (NBIM)—which manages the €689 billion ($860 billion) Norway Government Pension Fund Global—explored in depth its use of bespoke equally-weighted benchmarks.

For UAE sovereign wealth funds, it’s time for Africa

Posted on 01 December 2014

UAE-based sovereign wealth funds (SWFs) are seeing increasing opportunities in African countries and some of the leading emerging markets of the world demonstrating a shift in the focus of their asset allocations. “[The] UAE is home to one of the largest SWFs in the world and recently has played a significant role in establishing relations [...]

Middle East Wealth Funds To Actively Invest In 2015

Posted on 01 December 2014

Sovereign wealth funds in the region are investing more in emerging markets such as Africa and China as they shift away from Western markets. Sovereign wealth funds (SWFs) in the Middle East are looking to invest actively in an effort to generate better returns for their shareholders, according to a new study by auditing and [...]

Middle East sovereign funds to maximise returns through diversifications

Posted on 01 December 2014

Emerging strong form the global financial crisis with changed investment strategies, Middle East Sovereign Wealth Funds (SWFs) are expected to generate the best returns for their stakeholders, according to a KPMG report on Sovereign Wealth Funds (SWFs) in the Middle East.

GIC partners with Indonesian firm to jointly invest in CBD properties

Posted on 01 December 2014

Singaporean sovereign wealth fund GIC Private Limited and Indonesian investment company Rajawali Group recently signed a Memorandum of Understanding to allocate a USD500 million budget for real estate projects in the country. The planned developments, covering residential, office, retail and mixed-use projects, will be focused on top central business districts, especially Jakarta, the Sovereign Wealth [...]

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