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CIC cuts stake in Noble Group

Posted on 01 October 2014 by VRS  |  Email |Print

China Investment Corp sold part of its stake in Noble Group, sending shares in the commodity trader tumbling and sparking fears the mainland sovereign wealth fund will eventually move to offload most of its holding. CIC, the second-biggest shareholder, sold shares equivalent to 4.5 per cent of the commodity trader.
The shares were sold at S$1.32 (HK$8.04), the bottom of an indicative range that topped out at S$1.35, raising S$396 million. It was not clear why CIC was selling the stake, but Nathan Gee, an analyst at Bank of America Merrill Lynch, said he did not expect any damage to Noble’s strategic relationships on the mainland………………………………………..Full Article: Source

CIC selling part of Noble Group stake, fans fear of more sales

Posted on 01 October 2014 by VRS  |  Email |Print

China Investment Corp will sell part of its stake in Noble Group Ltd at a 5 percent discount, sending shares in the commodity trader tumbling and sparking fears that CIC would eventually move to offload most of its holding.
The Chinese sovereign wealth fund, Noble’s second biggest shareholder, is selling shares equivalent to 4.5 percent of the commodity trader, a term sheet showed………………………………………..Full Article: Source

CIC to Cut Stake in Singapore Commodity Trader Noble Group

Posted on 30 September 2014 by VRS  |  Email |Print

Sovereign-wealth fund China Investment Corp. is seeking to raise up to 405 million Singapore dollars (US$318 million) by selling a portion of its stake in Singapore-listed commodity trader Noble Group, people with knowledge of the deal said Monday.
CIC, which currently owns close to a 15% stake in Noble Group, will see its holding fall to about 10% post sale, one of the people said. China’s sovereign-wealth fund had spent US$850 million in 2009 to buy a stake in the Hong Kong-based Noble Group, a diversified commodities company with assets ranging from Brazilian sugar mills to Australian iron ore to oilseed-processing facilities in China and India………………………………………..Full Article: Source

Temasek Holdings units take stake in homegrown shoe firm Star 360

Posted on 30 September 2014 by VRS  |  Email |Print

Heliconia Capital and Pavilion Capital, both units of Temasek Holdings, have made an investment in local firm Star 360, a distributor and retailer of sports and fashion footwear, apparel and accessories. None of the parties have disclosed the amount of the investment.
Heliconia is an investment firm that provides growth capital to Singapore’s leading small and medium sized enterprises, while Pavilion specialises in private equity investment in North Asia. As strategic partners, both firms will provide insight and advice on key management decisions………………………………………..Full Article: Source

Aabar wealth fund to work with Goldman Sachs on options for RHB stake

Posted on 29 September 2014 by VRS  |  Email |Print

Aabar Investments PJSC, owned by Abu Dhabi’s sovereign wealth fund, is working with Goldman Sachs Group Inc. as it explores options for its stake in RHB Capital Bhd., according to people with knowledge of the matter.
Aabar, the Malaysian bank’s second-largest shareholder with a 21.2 per cent stake, is seeking to protect the value of its investment as the lender negotiates a three-way merger with CIMB Group Holdings Bhd. and Malaysia Building Society Bhd., the people said. It hasn’t yet signed a formal mandate with Goldman Sachs, one person said, asking not to be identified as the talks are private………………………………………..Full Article: Source

Temasek in talks to buy stake in Indian firm

Posted on 26 September 2014 by VRS  |  Email |Print

Three investment firms, including Singapore’s Temasek Holdings, are in advanced talks to buy a 30 per cent stake in the retail arm of India’s Aditya Birla Group for US$400 million (S$508 million) to US$500 million, two sources with direct knowledge of the matter told Reuters.
The other two firms involved in the talks are LVMH Moet Hennessy Louis Vuitton’s private equity arm, L Capital, and International Finance Corp (IFC), a unit of the World Bank that offers investment, advisory and asset management services to encourage private sector development in developing countries………………………………………..Full Article: Source

Carlyle to Sell Stake in U.K.’s RAC to Singapore’s Sovereign-Wealth Fund

Posted on 26 September 2014 by VRS  |  Email |Print

Carlyle Group has agreed to sell a stake in U.K. roadside-assistant provider RAC to Singapore’s sovereign-wealth fund instead of selling shares in the company to the public as it previously intended. The deal values RAC at more than £2 billion ($3.3 billion), a person familiar with the transaction said.
Carlyle and GIC will jointly own a majority stake and RAC managers will own a minority of the shares, the companies said Thursday in a joint statement. The price wasn’t disclosed. The investment is expected to be completed by the end of the year………………………………………..Full Article: Source

GIC Agrees to Become a Shareholder in RAC With Carlyle

Posted on 26 September 2014 by VRS  |  Email |Print

Carlyle Group LP agreed to sell a stake in U.K. roadside assistance company RAC Ltd. to Singaporean sovereign wealth fund GIC Pte. The world’s second-largest manager of investment alternatives to stocks and bonds will become a joint shareholder with GIC, and RAC management will retain a minority stake, the two companies said in a statement today. The value of the transaction wasn’t disclosed.
“Both Carlyle and GIC believe that RAC has a clear strategy with significant growth potential,” Andrew Burgess, partner at Carlyle Group, said in the statement. “GIC will provide a solid partnership for the business.”……………………………………….Full Article: Source

Korea’s Wealth Fund Doubling Staff to Pick Buffett-Style Stocks

Posted on 25 September 2014 by VRS  |  Email |Print

Korea Investment Corp., the country’s $76 billion sovereign wealth fund, plans to almost double its research staff to pick stocks for two new funds that may eventually comprise 30 percent of its equity holdings.
KIC will probably increase the research unit to about 60 people by 2017 from the current level of 32, said Rhee Keehong, the fund’s deputy chief investment officer and research head. KIC, which only invests overseas, had about $35 billion in stocks and $25 billion in bonds last year, with the remainder in alternative assets and other investments………………………………………..Full Article: Source

Temasek arm signs 2nd LNG purchase contract

Posted on 25 September 2014 by VRS  |  Email |Print

Singapore state investor Temasek-owned Pavilion Energy has signed a second long-term contract to buy liquefied natural gas (LNG) for trading and supply to Asia, taking another step towards its goal of becoming a global company in the fuel.
Pavilion Energy said in a statement yesterday its wholly owned subsidiary Pavilion Gas Pte has struck a deal with BP under which the UK company will supply it with 0.4mn tonnes per year of LNG for 20 years from 2019. It did not say how much Pavilion would pay for the LNG………………………………………..Full Article: Source

Singapore wealth fund nears deal to buy 50% of RAC from Carlyle

Posted on 25 September 2014 by VRS  |  Email |Print

GIC, the Singapore-based sovereign wealth fund, is close to an agreement to buy 50 per cent of RAC from its owner, buyout fund manager Carlyle, in a move that is expected to derail plans to list the British roadside recovery company.
The private equity house is leaning towards a deal whereby it would keep half of RAC, sell the rest to GIC and pay itself a dividend by adding more debt to the company, in a so-called recapitalisation, according to people with knowledge of the discussions. The transaction would value RAC at more than £2bn including its debt………………………………………..Full Article: Source

GIC in talks to buy Carlyle’s RAC for over S$4 bln: Report

Posted on 25 September 2014 by VRS  |  Email |Print

Singapore’s sovereign wealth fund, GIC , is in talks to buy the British roadside rescue business RAC from US private equity firm Carlyle Group for more than 2 billion pounds (S$4.1 billion), Sky News reported, citing a person familiar with the talks.
The British broadcaster said the sale to GIC was likely to end an expected share listing of RAC. Sky added that GIC might instead take a large minority stake in RAC before an initial public offering. Sources told Reuters in June that RAC was considering an IPO this year in a deal that media reports have said could value the company at 2 billion pounds………………………………………..Full Article: Source

Norwegian oil fund plans gradual shift to reference portfolio

Posted on 25 September 2014 by VRS  |  Email |Print

Norway’s Government Pension Fund Global (GPFG) is to replace its current strategic index with a new benchmark meant to offer greater flexibility. The new approach, which Yngve Slyngstad, chief executive of Norges Bank Investment Management (NBIM), said stemmed from a recent review of the fund’s approach to active management, would also encourage “gradual” growth of private investments while allowing for a consistent benchmark approach across all holdings.
Speaking at a seminar at the Norwegian Ministry of Finance, Slyngstad said the review by Andrew Ang of Columbia Business School, Michael Brandt of Duke University and the former president and chief executive of the Canada Pension Plan Investment Board (CPPIB), David Denison, had shown how the GPFG could exploit investment opportunities currently outside the index………………………………………..Full Article: Source

Norway’s opposition wants wealth fund to invest in infrastructure

Posted on 24 September 2014 by VRS  |  Email |Print

Norway’s $870-billion sovereign wealth fund should be allowed to directly invest in infrastructure such as wind farms and solar plants, the country’s opposition Labour party will propose, a plan gaining the support of the majority of parties.
The world’s largest sovereign wealth fund, which owns on average 1.3 percent of all listed companies worldwide, is currently mandated to invest in stocks, bonds and property abroad. But if the fund, set up to invest Norway’s oil and gas revenue, was allowed to expand the scope of its portfolio to include infrastructure projects, starting with renewables, it may greatly increase capital into the sector………………………………………..Full Article: Source

RAC owners in sales talks with Singaporean fund

Posted on 24 September 2014 by VRS  |  Email |Print

The private equity owner of RAC has decided to ditch a stock market float in favour of a £2bn-plus sale to Singapore’s sovereign wealth fund. Carlyle, which bought the breakdown business for £1bn from insurer Aviva three years ago, is locked in talks with Government Investment Corporation (GIC) of Singapore.
Sources indicated the sale, first reported by Sky News, could be announced as early as Wednesday afternoon. Although it is thought unlikely the final sale price will be announced alongside details of the transaction, Carlyle would only opt to sell rather than float the business in return for a healthy premium……………………………………….Full Article: Source

Singaporean Fund Revs Up GBP2bln RAC Takeover

Posted on 24 September 2014 by VRS  |  Email |Print

A Singaporean state fund is in secret talks to lead a £2bn-plus takeover of the RAC, a move that would end the prospect of a stock market listing of the famous roadside recovery business. Sky News can reveal that the Government Investment Corporation of Singapore (GIC) is discussing with Carlyle, the RAC’s existing owner, a deal that could be struck within days.
GIC is understood to have been interested in participating in a takeover of the RAC, which has 8.2 million members, for some time, having been enticed by the company’s stable cashflows and growth prospects, according to a person close to the situation………………………………………..Full Article: Source

L Capital, Temasek near Birla Retail deal

Posted on 24 September 2014 by VRS  |  Email |Print

Marquee international investors L Capital, Temasek Holdings and International Finance Corporation are in the final reckoning to buy minority shares in Aditya Birla Group’s retail holding company, people familiar with the matter said.
Billionaire Kumar Mangalam Birla is in the midst of combining his group entities Madura Lifestyle & Fashion, Pantaloons department stores and More supermarkets into a new listed company valued at $2.3 billion in enterprise valuation. Birla could raise as much as $400 million from two or three investors, though a final quantum has not been decided yet. Standard Chartered Bank is advising Aditya Birla Group on the deal………………………………………..Full Article: Source

Seven Energy, Sovereign Wealth Fund Sign $100m Investment Deal

Posted on 24 September 2014 by VRS  |  Email |Print

Seven Energy International Limited, an indigenous integrated oil and gas development, production and distribution company with interests in Nigeria, and the Sovereign Investment Authority (NSIA), Nigeria’s sovereign wealth fund, Tuesday announced a $100 million investment commitment.
Under the deal, NSIA through its Gas -to -Power funds managed on behalf of the Debt Management Office (DMO), signed a commitment letter for an investment of at least $100,000,000 in aggregate principal amount of senior secured notes due in 2023 to be issued and privately placed by Seven Energy Finance Limited………………………………………..Full Article: Source

Temasek takes on sustainability challenge

Posted on 23 September 2014 by VRS  |  Email |Print

A long-term investor with a strong public service sensibility and a massive portfolio must inevitably confront the issue of sustainability. For Singapore government-owned investment company Temasek Holdings, that time has begun in earnest, chairman Lim Boon Heng hinted on Monday at a dinner to mark Temasek’s 40th anniversary.
“This spirit of doing things today, with tomorrow very clearly in our minds also describes the ethos of Temasek,” Mr Lim said. “It forms our values and culture as a long-term investor, as a forward-looking institution and most of all, as a trusted steward.” Singapore President Tony Tan Keng Yam recalled that Temasek was created as a way to keep government from overly influencing its commercial interests………………………………………..Full Article: Source

RDIF Builds Ties With Freight Village Ru

Posted on 22 September 2014 by VRS  |  Email |Print

The Russian Direct Investment Fund (RDIF) has reached an agreement in principle regarding investment in the logistics holding company Freight Village Ru. Currently, RDIF is in negotiations with a number of leading foreign co-investors, who have expressed an interest in participating in the project. The final number of co-investors and their investment structure within the project is yet to be confirmed and will be announced at a later date.
The funds from the deal will be spent by Freight Village Ru to finance the construction of a large logistics complex, Freight Village Vorsino. This will allow the creation of a unified cluster of independent transportation firms, warehouses, distribution companies, logistics services providers, and industrial and trade enterprises with direct access to a multimodal terminal and to major freight corridors. The first stage of the project, which is the only of its kind in Russia, will be the construction of over 600,000 square meters of warehousing and industrial facilities with a shared logistics infrastructure………………………………………..Full Article: Source

The Norwegian sovereign wealth fund could be a natural investor in India’s infrastructure

Posted on 22 September 2014 by VRS  |  Email |Print

We have recently done work focusing on changing the investment strategy of the Norwegian sovereign wealth fund – with $910 billion on paper. It’s a true long-term investor – and would be the natural investor to make infrastructure investments in markets such as India.
They are not currently allowed to do so, though the government has taken on our suggestion to opening it up to infrastructure investments. We have also been looking at things from the Indian side: there is a genuine lack of long-term capital – we need to look at alternatives to banks………………………………………..Full Article: Source

Africa sovereign funds tread tricky path on investments

Posted on 22 September 2014 by VRS  |  Email |Print

As the oil producers of Sub-Saharan Africa rush to create sovereign wealth funds, competing pressures to boost living standards now while saving for the future can throw up as many problems as they solve. Jose Filomeno dos Santos, chairman of Angola’s fledgling $5 billion fund, noted that while his country has one of Africa’s highest economic growth rates, it still has one of the continent’s highest child mortality rates.
“(Angola) still lacks doctors, it still lacks hospitals,” he told sovereign wealth fund conference at London’s Chatham House last week. “These are things that take time to build. Investment has to be done so that there’s a generation in the future that the sovereign wealth fund will be serving,” he said………………………………………..Full Article: Source

Kuwait Investment Authority To Expand Germany Investments

Posted on 22 September 2014 by VRS  |  Email |Print

The Kuwait Investment Authority (KIA), one of the world’s largest sovereign wealth funds and a long-term investor in German auto maker Daimler AG, wants to ramp up investments in Europe’s largest economy.
Speaking at a ceremony in Stuttgart to celebrate the 40-year anniversary of Kuwait’s investment in Daimler, Anas K. Al-Saleh, minister of finance in Kuwait and chairman of the board of the Kuwait Investment Authority, said the KIA would continue to increase its investments in Germany………………………………………..Full Article: Source

Kazakh Wealth Fund to Sell Ukrainian Assets as Risks Grow

Posted on 19 September 2014 by VRS  |  Email |Print

Kazakhstan is speeding up the sale of its assets in Ukraine as growing “political risks” threaten outside investors, sovereign wealth fund Samruk-Kazyna said. “Given the current political and economic situation in Ukraine, the interests of non-residents will be considered last,” Samruk-Kazyna Deputy Chief executive Officer Yelena Bakhmutova said on the fund’s website.
The fund plans to sell its shares in Kherson Oil Refinery, Ukrnefteproduct and Kazakhoil-Ukraina, she said. In 2000, Kazakhoil, a state-owned oil company that was later merged into KazMunaiGaz National Co., won a tender to purchase 60 percent of the refinery for about $6.4 million. The plant has been shut since 2005. Samruk-Kazyna is the parent company of KazMunaiGaz……………………………………..Full Article: Source

Kuwait Investment Authority says to expand Germany investments

Posted on 19 September 2014 by VRS  |  Email |Print

The Kuwait Investment Authority (KIA), one of the world’s largest sovereign wealth funds and a long-term investor in German auto maker Daimler AG , wants to ramp up investments in Europe’s largest economy.
Speaking on Thursday at a ceremony in Stuttgart to celebrate the 40-year anniversary of Kuwait’s investment in Daimler, His Excellency Anas K. Al-Saleh, minister of finance of the State of Kuwait and chairman of the board of the Kuwait Investment Authority, said the KIA would continue to increase its investments in Germany……………………………………..Full Article: Source

Malaysia’s Khazanah to gain US$1bil from investment in China’s Alibaba

Posted on 19 September 2014 by VRS  |  Email |Print

A little-known investment by Khazanah Nasional Bhd in Alibaba Group in 2012 has paid off. Khazanah’s investment in the e-commerce giant from China is estimated to be valued at between US$1bil and US$1.2bil (RM3.22bil and RM3.86bil), a between four and five-fold increase of its initial US$250mil investment.
Its investment, although only small in comparison with the size of the technology stock’s valuation estimated at between US$160bil and US$170bil, will provide a handsome windfall should the state investment unit decide to divest upon the listing of Alibaba Group Holding Ltd in the United States……………………………………..Full Article: Source

UniCredit seen picking talks partner for Pioneer end-Sept-sources

Posted on 18 September 2014 by VRS  |  Email |Print

UniCredit, Italy’s biggest bank by assets, is expected to pick a partner for exclusive talks to buy a stake of up to 50 percent in its asset management division Pioneer towards the end of September, two sources familiar with the matter said.
The sources said on Wednesday Spanish bank Santander and a consortium comprising private equity fund CVC Capital Partners and Singapore sovereign fund GIC were the two strongest contenders, even though U.S. fund Advent was also in the frame. The proposal by CVC and GIC, who are advised by Deutsche Bank, aims to boost Pioneer’s expansion across the United States, Europe and Asia and make the asset manager less reliant on UniCredit, according to one of the sources……………………………………Full Article: Source

Russia’s biggest bank looks East

Posted on 17 September 2014 by VRS  |  Email |Print

The turmoil that is engulfing Ukraine and chilling ties between Russia and the West could have an unexpected silver lining for Singapore as companies caught up in the crossfire look East. A change in direction appears especially enticing for giant lender Sberbank.
Sberbank is no stranger to Singapore, having worked with major local institutions like Temasek Holdings and sovereign wealth fund GIC, which is one of its largest foreign investors…………………………………Full Article: Source

CCI gives thumbs-up to Temasek’s 10.16% stake buy in Intas

Posted on 16 September 2014 by VRS  |  Email |Print

Fair trade regulator CCI has cleared Singapore government investment arm Temasek Holding’s proposed acquisition of 10.16 per cent stake in Indian firm Intas Pharmaceuticals, saying the deal will not raise anti-competition concerns.
Under the proposed deal, Dunearn Investments (Mauritius) Pte. Ltd-a indirect subsidiary of Temasek-would acquire the stake from Mozart Ltd-a wholly owned subsidiary of ChrysCapital III LLC. In an order, the Competition Commission of India (CCI) said “that the proposed combination is not likely to have an appreciable adverse effort on competition in India”………………………………………..Full Article: Source

Dubai’s ICD buys $300 million stake in Dangote Cement

Posted on 16 September 2014 by VRS  |  Email |Print

Sovereign fund Investment Corp of Dubai (ICD) has bought a 1.4 percent stake in Dangote Cement, Nigeria’s biggest company by market capitalisation, for $300 million, a Dangote spokesman said on September 08. Dangote Cement spokesman Carl Franklin confirmed the sale, but provided no further details.
Stockbrokers in Lagos told Reuters 243 million shares of Dangote Cement were transferred to ICD, which holds stakes in some of the emirate’s top companies, at 200 naira each, a 12 percent premium to Dangote Cement’s price of around 223 naira on September 08………………………………………..Full Article: Source

GIC, others invest S$885m in XPO Logistics

Posted on 15 September 2014 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and two other investors will invest US$700 million (S$885.57 million) in US-listed XPO Logistics to help the transport company grow at a faster pace. XPO Logistics facilitates more than 31,000 deliveries a day as one of the fastest growing providers of transportation logistics services in North America, according to the firm’s website. The firm operates out of 203 locations and has about 10,400 employees.
The Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, and Ontario Teachers’ Pension Plan are the other new investors in XPO Logistics………………………………………..Full Article: Source

Africa sovereign funds tread tricky path on investments

Posted on 12 September 2014 by VRS  |  Email |Print

As the oil producers of sub-Saharan Africa rush to create sovereign wealth funds, competing pressures to boost living standards now while saving for the future can throw up as many problems as they solve.
Jose Filomeno dos Santos, chairman of Angola’s fledgling $5 billion fund, noted that while his country has one of Africa’s highest economic growth rates, it still has one of the continent’s highest child mortality rates. “(Angola) still lacks doctors, it still lacks hospitals,” he told sovereign wealth fund conference at London’s Chatham House last week………………………………………..Full Article: Source

Singapore’s GIC invests US$700 million in XPO Logistics

Posted on 12 September 2014 by VRS  |  Email |Print

Singapore’s sovereign fund GIC is joining PSP Investments and Ontario Teachers’ Pension Plan in together investing US$700 million (RM2.2 billion) in XPO Logistics Inc, the US company said, adding it plans to use proceeds for unspecified acquisitions.
In a statement released in the United States, XPO said the deal will be carried out through the sale of newly issued common stock and preferred stock to the investors, who will hold about 22% of XPO after conversion. Greenwich, Connecticut-based XPO, a provider of freight transportation services, has a market value of US$1.8 billion………………………………………..Full Article: Source

Kazakh fund Samruk-Kazyna puts 14 companies on sale

Posted on 12 September 2014 by VRS  |  Email |Print

Samruk-Kazyna group of companies concludes assets presale preparation scheduled to be transferred in the private sector in September 2014, the deputy chairman of the Samruk-Kazyna National Welfare Fund Elena Bakhmutova told Trend Sept. 10. “The fund plans to auction 14 companies in September 2014. Assessment procedure on the current assets is being finalized,” Bakhmutova said, speaking to reporters in Astana.
However, she noted that nine companies will be put on the sale as part of Kazakhstan Temir Joly NC JSC, two companies of Kazakhstan Engineering NC JSC, a subsidiary of KazMunaiGas NC JSC and two companies of Samruk-Kazyna………………………………………..Full Article: Source

RKIF to invest in Children’s World

Posted on 12 September 2014 by VRS  |  Email |Print

Russia-China Investment Fund (RKIF) has reached an agreement in principle to invest in the company, “Children’s World”, is a major player in the sector of specialized network of trade in goods for children in Russia. To date, 100% of the share capital of the company is controlled by AFK “System”. Created by the Russian Direct Investment Fund and China Investment Corporation,RKIF focuses on cross-border transactions.
Under the deal, a large part of the proceeds will be directed to further development, in particular, the opening of new stores and the construction of additional logistics centers, which will significantly improve the operational efficiency of the company, which has the largest network of children’s goods in Russia………………………………………..Full Article: Source

Sovereign wealth’s new investment tactics

Posted on 11 September 2014 by VRS  |  Email |Print

Since mid-year statistics revealed that sovereign wealth funds (SWFs) are making direct investments at a rate never seen before , attention has turned to their new profile in the M&A landscape.An increasing number of state-owned funds are shunning their reputation as long-term, passive investors by acquiring private companies direct and even investing in exchange-traded funds.
While their push into higher-yielding assets has sparked some concern, their growing sophistication and preparedness to look at alternative strategies is here to stay………………………………………..Full Article: Source

CIC’s investment in Alibaba quadruples in two years

Posted on 10 September 2014 by VRS  |  Email |Print

China Investment Corporation (CIC), which invested in e-commerce giant Alibaba two years ago, has quadrupled the value of its investment, reports our Chinese-language sister paper China Times.
The sovereign wealth fund’s shares in Alibaba are estimated at US$5 billion and the Hangzhou-based company has been a much better investment than Blackstone, though the US company has produced a 35% return. CIC started to invest in Alibaba in September 2012, when Alibaba was purchasing part of Yahoo for US$7.6 billion………………………………………..Full Article: Source

Russia-China investment fund buys stake in retailer Detsky Mir

Posted on 10 September 2014 by VRS  |  Email |Print

The Russia-China Investment Fund (RCIF) said on Tuesday it had agreed to buy a minority stake in Russian children’s goods retailer Detsky Mir, controlled by oil-to-telecoms conglomerate Sistema.
RCIF, a joint venture between Russia Direct Investment Fund (RDIF) and China Investment Corp (CIC), said the bulk of the funds will be used by Detsky Mir to fund its expansion, including the opening of new shops and construction of additional logistics centres………………………………………..Full Article: Source

Nigeria SWF to buy stake in gas processing plant

Posted on 10 September 2014 by VRS  |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) will in a couple of weeks announce a major investment in gas processing plants with the aim of solving the problem of gas in the power sector of the economy, says Uche Orji, chief executive, NSIA, managers of the nation’s sovereign wealth fund.
“In the next three weeks, a big investment in gas processing will be announced by the NSIA,” said Orji. Orji, who spoke in Lagos at the launch of “The Nigerian Banking Sector Report” by Afrinvest, said that the investment would be made out of the $200million for gas to power by the federal government………………………………………..Full Article: Source

Dubai Investment Fund Pays $300m For Stake in Dangote Cement

Posted on 10 September 2014 by VRS  |  Email |Print

Sovereign fund Investment Corporation of Dubai (ICD) has bought a 1.4 percent stake in Africa’s leading manufacturer Dangote Cement for $300 million, the cement company’s spokesman Carl Franklin disclosed on Monday.
According to Akinbamidele Akintola, an African equity sales executive at Renaissance Capital, quoted by Reuters, the investment of ICD in Dangote signals the investment corp’s intention of diversifying its portfolio into the West African market which, he adds, bodes well for future investments into Nigeria from the Middle East………………………………………..Full Article: Source

Dubai’s Wealth Fund Invests $300 Million in Nigeria’s Dangote

Posted on 09 September 2014 by VRS  |  Email |Print

Dubai’s sovereign-wealth fund said on Monday it is buying a minority stake in Nigeria’s Dangote Cement for $300 million as the Gulf emirate makes it first major investment in Africa’s largest economy.
Dangote Cement, which is listed on the Nigeria Stock Exchange and has a market value of around $23 billion, was founded and is still controlled by Nigerian business magnate Aliko Dangote. It is a leader in its domestic market and plans to nearly double production capacity by 2018 and expand abroad with new plants scheduled in South Africa, Senegal, Zambia, Cameroon and Sierra Leone………………………………………..Full Article: Source

Africa’s Richest Man Aliko Dangote To Sell Stake In Cement Firm To UAE Sovereign Wealth Fund

Posted on 09 September 2014 by VRS  |  Email |Print

Africa’s richest man Aliko Dangote is selling a stake in his cement company to a sovereign wealth fund owned by the government of Dubai, United Arab Emirates. According to a report by the Financial Times, the Investment Corporation of Dubai (ICD) will invest $300 million in Dangote Cement, West Africa’s largest company, for a minority stake. Mohammed Al-Shaibani, CEO of the UAE-based company is expected to sign the deal on Monday with Aliko Dangote. ICD, which was established in 2006, owns stakes in Emirates Group, Dubai World Trade Center and the Emirates National Oil Company.
It is not yet clear whether the ICD will be acquiring the stake at a discount or premium to Dangote Cement’s current market price. Dangote Cement, which is listed on the Nigerian Stock Exchange, has a current market cap of $24.5 billion. At its current value, ICD’s $300 million injection would give it a 1.28% stake approximately………………………………………..Full Article: Source

Oman sovereign fund, Shell co-lead $53m investment in GlassPoint Solar

Posted on 09 September 2014 by VRS  |  Email |Print

GlassPoint Solar, the leader in solar enhanced oil recovery (EOR), has announced a $53 million equity investment from the State General Reserve Fund (SGRF), the largest sovereign wealth fund in Oman, Royal Dutch Shell (Shell) and GlassPoint’s existing investors. The funding will be used to accelerate the deployment of GlassPoint’s solar steam generators, which can reduce an oilfield’s natural gas consumption by up to 80 per cent.
“Solar-powered oil production will save valuable gas resources that can be used to establish new industries and create new jobs for Omanis. The support from Oman’s largest sovereign wealth fund and Shell’s corporate venture arm, Shell Technology Ventures, validates solar enhanced oil recovery (EOR) and its role in driving economic growth,” said Rod MacGregor, president and chief executive officer of GlassPoint………………………………………..Full Article: Source

China’s sovereign fund, Boyu, selling some Alibaba shares

Posted on 09 September 2014 by VRS  |  Email |Print

Alibaba Group Holding Ltd’s initial public offering could raise more than $21 billion, valuing the Chinese e-commerce giant at up to $163 billion. Yahoo Inc, the company’s second-largest shareholder, had already disclosed it will sell part of its stake in the IPO, but several other companies and individuals were unveiled as sellers in Alibaba’s latest filing released on Friday.
Alibaba directors and executive officers as a group would make up the second-biggest sellers of stock after Yahoo, potentially raising $1.23 billion from their stakes. The company did not break down the names of each executive selling shares. Other sellers include Chinese sovereign wealth fund China Investment Corporation (CIC), Singapore state investor Temasek Holdings, Saudi Arabia’s Olayan Group and several private equity firms………………………………………..Full Article: Source

Khazanah may divest Westports stake

Posted on 08 September 2014 by VRS  |  Email |Print

Khazanah Nasional is said to be looking to divest its stake in Westports Holdings Bhd, a move that resonates with its policy to reduce stakes in companies that are deemed as non-strategic in its portfolio of investments. Sources said the state investment arm was looking at placing out its entire 4.74% shareholding in Westports to other funds through a book building exercise.
Although the funds were not identified, Westports’ current shareholders include AIA Bhd, Hwang Investment Management Bhd and Genesis Group. Other big-name government-linked funds in Westports are Kumpulan Wang Persaraan, Employees Provident Fund, Skim Amanah Bumiputera, Lembaga Tabung Haji and Permodalan Nasional Bhd………………………………………..Full Article: Source

Temasek to invest Rs 400cr in KFC, Pizza Hut operator

Posted on 05 September 2014 by VRS  |  Email |Print

Singapore state investor Temasek Holdings is likely to make an investment of about Rs 400 crore in KFC, Pizza Hut and Costa Coffee store operator Devyani International, upping its play in the country’s fast-growing consumer sector.
The four-decade-old fund, with assets worth $173 billion globally, will purchase a significant minority stake in the New Delhi-based company, owned by soft drink bottling king Ravi Jaipuria. If the transaction materializes, Temasek will be the second private equity investor in Devyani after ICICI Venture, which had invested Rs 250 crore for a 10% stake in 2011………………………………………..Full Article: Source

Angola’s Sovereign Wealth Fund Ready To Invest $5 Bln Across Africa

Posted on 05 September 2014 by VRS  |  Email |Print

Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said. Jose Filomeno dos Santos said the fund had set up a series of special purpose vehicles to identify opportunities in commercial infrastructure, energy, mining, agriculture and real estate.
He was speaking to Reuters in London as the Fundo Soberano de Angola (FSDEA), set up in 2012 to invest Angola’s oil wealth, announced it now has assets of $5 billion following a final top-up of $1.35 billion made in June. The fund will also deploy another third of its endowments, around $1.66 billion, to “opportunistic” investments around the world, seeking to buy up companies with a focus on sectors that could complement its activities in Angola and elsewhere in Africa………………………………………..Full Article: Source

Khazanah Eyes Investment Opportunities In Eastern Europe

Posted on 04 September 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd is considering broader investment opportunities in Eastern Europe, following the opening of its office in Istanbul, Turkey, last November. Executive Director and Chief Financial Officer Mohd Izani Ghani said the office was established to tap investment opportunities around Turkey, North Africa and Eastern Europe.
He, however, said Khazanah planned to issue a foreign currency sukuk in the region but this cannot be realised yet as it had no assets in Eastern Europe. “We haven’t quite covered Europe yet as an investment haven………………………………………..Full Article: Source

China state investment fund Huijin eyes European banks investment

Posted on 04 September 2014 by VRS  |  Email |Print

Central Huijin Investment Ltd., the state-owned holding company for China’s largest financial institutions, is seeking European bank investments to diversify its domestic holdings, vice-chairman Li Jiange said on Wednesday.
“When we invest in China, efficiency and investment return has gone down,” Jiange said at a banking conference in Germany. “If we can then expand abroad, then we are highly interested in looking into European banks,” he said, speaking through a translator. “We would really be interested in profitable objects.”……………………………………….Full Article: Source

Angola’s $5 billion sovereign fund nearing African, global private equity-style deals

Posted on 04 September 2014 by VRS  |  Email |Print

Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said. Jose Filomeno dos Santos said the fund had set up a series of special purpose vehicles to identify opportunities in commercial infrastructure, energy, mining, agriculture and real estate.
He was speaking to Reuters in London as the Fundo Soberano de Angola (FSDEA), set up in 2012 to invest Angola’s oil wealth, announced it now has assets of $5 billion following a final top-up of $1.35 billion made in June………………………………………..Full Article: Source

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