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Norway’s sovereign wealth fund asked miners to consider coal demergers

Posted on 08 February 2016 by VRS  |  Email |Print

Norway’s influential sovereign wealth fund asked mining companies in its investment sphere to consider spinning out their coal assets in 2015.The fund, which is a top five shareholder in BHP Billiton, made the request just months before BHP spun out South32.
The coal push was revealed in the fund’s 2015 annual report. It also shows the fund divested from 73 companies in 2015 for ethical and governance reasons. The fund has made headlines in recent years for its increasingly strict stance against investing in fossil fuels………………………………………..Full Article: Source

Sovereign funds peg back investments in India

Posted on 08 February 2016 by VRS  |  Email |Print

The fall in crude oil prices is affecting Indian stock markets in more ways than one. Sovereign Wealth Funds (SWF) that were built with the surpluses of oil-producing nations have been reducing their investments in India as their assets decline in tandem with the fall in crude oil prices.
SWFs have been one of the most important foreign investor classes investing in Indian markets in recent times. Some of the largest funds have been set up by oil-producing nations; among these are the Abu Dhabi Investment Authority (ADIA), which managed $773 billion in June 2015; the SAMA Foreign Holdings of Saudi Arabia (assets of $686 billion); the Kuwait Investment Authority ($592 billion); and the Qatar Investment Authority ($256 billion)………………………………………..Full Article: Source

Indian Finance Minister calls for sovereign wealth fund investment in infra, railways

Posted on 08 February 2016 by VRS  |  Email |Print

Amid global slowdown, Finance Minister Arun Jaitley met sovereign wealth funds from Singapore and the UAE and has pitched for a stable policy regime and resilience of Indian economy. Jaitley highlighted opportunities the country presents to investors and sought investment in sectors like road, highways, oil & gas, urban infrastructure and railways and invited foreign capital in these sectors.
Jaitley held a discussion with several potential investors including European investment banks and sovereign funds of countries like Singapore and the UAE and highlighting investment opportunities India offers, Jaitley said with one-sixth of the world population and largest the largest middle class, there are huge opportunities………………………………………..Full Article: Source

India needs resources to fund its infrastructure needs

Posted on 08 February 2016 by VRS  |  Email |Print

A growing and developing economy requires infrastructure that makes inter-city transport faster and brings down transaction costs. India is in dire need of resources to fund its infrastructure needs. As of March 31 last year, 328 central infrastructure projects, each worth more than Rs100 crore, were running behind schedule.
Last year, the government announced the launch of the National Infrastructure Investment Fund (NIIF), a sovereign wealth fund that aims ‘to maximise economic impact through infrastructure development in commercially viable projects’. The government will have a 49% share in the fund and will provide an initial corpus of Rs 20,000 crore. The remaining Rs 20,000 crore is expected to be raised from overseas long-term funds such as sovereign endowments of other countries and wealth funds………………………………………..Full Article: Source

Qatari investment in London’s Canary Wharf pays off as rents set to soar

Posted on 08 February 2016 by VRS  |  Email |Print

Rents in the Canary Wharf business district are set to rise faster than anywhere else in London this year, according to Knight Frank. The news is a boost to a Qatari-led consortium that completed a takeover of the complex in January last year. Knight Frank said rental growth in 2016 was projected to grow by 12.8 percent, beating out rival Shoreditch, which is expected to see rents grow by 10 percent.
The Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, and US investor Brookfield Property Partners won a $3.8 billion battle to acquire the 69 percent stake in Canary Wharf Group owned by Songbird. The QIA had already owned 29 percent of Songbird………………………………………..Full Article: Source

Indian FM pitches investment scope in infra, railways to sovereign funds

Posted on 05 February 2016 by VRS  |  Email |Print

India’s Finance Minister Arun Jaitley on Thursday met sovereign wealth funds from Singapore and the UAE while highlighting investment opportunities in sectors such as roads, railways, oil and gas.
Jaitley said decision making has been expedited and conditions that made investment process difficult have been sliced away.”We have eased out processes. And several conditionalities which made investment process more difficult… have also been sliced away,” he said………………………………………..Full Article: Source

Foreign hand to aid Indian infrastructure

Posted on 05 February 2016 by VRS  |  Email |Print

In what could give a leg-up to the country’s efforts to find the elusive equity capital for its mammoth plans for infrastructure creation, at least four global sovereign wealth funds including the Abu Dhabi Investment Authority (ADIA), Singapore’s Temasek and Russian Direct Investment Fund have evinced interest in its National Infrastructure and Investment Fund.
The NIIF, to be set up with an initial corpus of Rs 40,000 crore, including half that from the government which will remain a minority partner, is expected to catalyse financing of infrastructure projects, by leveraging the same multiple times………………………………………..Full Article: Source

NIIF, Rusnano sign MoU to invest in high technology projects

Posted on 03 February 2016 by VRS  |  Email |Print

India’s maiden sovereign wealth fund NIIF on Tuesday signed an agreement with Russia’s Rusnano OJSC to set up a fund that will invest in high technology projects in India. “NIIF signs MoU (Memorandum of Understanding) with Rusnano of Russia for setting up India-Russia High Technology Fund. NIIF fast taking shape,” economic affairs secretary Shaktikanta Das tweeted.
Both NIIF and Rusnano will establish a joint working group with a view to further develop cooperation and work on the development of the definitive agreements. The High Technology Private Equity Fund, a finance ministry statement said, will invest in projects in India………………………………………..Full Article: Source

SWFs, pension funds keen to invest in NIIF

Posted on 03 February 2016 by VRS  |  Email |Print

The sovereign wealth funds of Singapore, Canada, Russia and Qatar along with several pension funds are said to be keen on participating in the National Investment and Infrastructure Fund, underscoring the growing interest in India as an investment destination with the global economy facing new headwinds.
Draft memoranda of understanding (MoUs) have been exchanged between NIIF and a number of funds, said two persons aware of the development. These could be finalised and signed soon after approvals are obtained. Singapore’s Temasek and GIC are said to be among those looking at investing in the fund………………………………………..Full Article: Source

Abu Dhabi to Siphon Billions From ADIA for Debt, Fitch Predicts

Posted on 03 February 2016 by VRS  |  Email |Print

Abu Dhabi Investment Authority’s assets will probably fall by billions of dollars by the end of this year as the emirate’s government taps its sovereign-wealth fund to bridge a deficit brought on by low petroleum prices, Fitch Ratings Ltd. said.
Assets will drop to $475 billion at the end 2016 from an estimated $502 billion at end 2014, Fitch said in a report. The government may also issue local and foreign currency bonds to finance its 2016 and 2017 deficit, according to the revenue agency………………………………………..Full Article: Source

China wealth fund eyes Thai stake

Posted on 01 February 2016 by VRS  |  Email |Print

China has expressed interest in investing in the Thailand Future Fund (TFF), according to Finance Minister Apisak Tantivorawong. The interest comes from the China Investment Corporation (CIC), a sovereign wealth fund responsible for managing part of China’s foreign exchange reserves.
The CIC has over US$740 billion in global assets under management, said Mr Apisak. Mr Apisak led a delegation to Beijing over the weekend to meet a group of leading Chinese investors, both state enterprises and large private companies………………………………………..Full Article: Source

Norway’s wealth fund may invest in emerging economies

Posted on 01 February 2016 by VRS  |  Email |Print

Norway’s lawmakers are expected to grant the country’s $800 billion sovereign wealth fund a broader investment brief to better spread risk, the leader of the parliamentary finance committee said.
The central bank, which manages the fund, last month recommended it should be allowed to invest in unlisted infrastructure projects and put a higher share of its assets into real estate, changes representing the biggest shift in strategy since it was permitted to buy property in 2010………………………………………..Full Article: Source

Norway’s parliament to back broader investment brief for wealth fund

Posted on 01 February 2016 by VRS  |  Email |Print

Norway’s lawmakers are expected to grant the country’s $800 billion sovereign wealth fund a broader investment brief to better spread risk, the leader of the parliamentary finance committee said.
The central bank, which manages the fund, last month recommended it should be allowed to invest in unlisted infrastructure projects and put a higher share of its assets into real estate, changes representing the biggest shift in strategy since it was permitted to buy property in 2010. The fund currently invests about 60 percent of its value in stocks, 35 percent in bonds and up to five percent in real estate, all outside Norway………………………………………..Full Article: Source

China sovereign wealth fund joins $6.3 bln bid for Australia’s Asciano

Posted on 29 January 2016 by VRS  |  Email |Print

Australian port operator Qube Holdings Ltd said on Thursday a Chinese sovereign wealth fund was taking part in its A$8.9 billion ($6.3 billion) bid for rail giant Asciano Ltd, potentially complicating regulatory approval amid a political backlash against Chinese investors.
Qube revealed the participation of China Investment Corp (CIC) as it made the binding cash-and-share offer for Australia’s largest rail freight network, which narrowly bests an offer from Canadian infrastructure giant Brookfield Asset Management Inc………………………………………..Full Article: Source

Australia-led group bids $6.3bn for logistics firm Asciano

Posted on 29 January 2016 by VRS  |  Email |Print

An Australian-led consortium including a Chinese sovereign wealth fund bid US$6.30 billion for ports and rail operator Asciano Thursday, kicking off a bidding war with a Canadian asset manager.
Qube Holdings — leading a group including China’s CIC Capital Corporation, the Canada Pension Plan Investment Board and investment group Global Infrastructure Partners — said it had submitted the offer with an implied value of Aus$9.17 per Asciano share. That valued the bid at Aus$8.95 billion………………………………………..Full Article: Source

Are sovereign wealth funds big sellers in Indian stocks?

Posted on 29 January 2016 by VRS  |  Email |Print

Are sovereign wealth funds (SWFs) big sellers in Indian stocks? The conventional answer to that question is a yes, but data points to another intriguing trend — the rising share of direct sovereign fund investments in India. Assets under management (AUM) of SWFs in Indian equities climbed 14% to Rs 1.74 lakh crore in December 2015 from Rs 1.53 lakh crore a year ago, data compiled by ETIG shows.
An increase in SWF assets at a time of poor market returns shows that they have been buying Indian equities directly though they are sellers in foreign funds where they have parked their money………………………………………..Full Article: Source

Oman fund, Iran’s Khodro sign MoU for $200 mln auto venture

Posted on 28 January 2016 by VRS  |  Email |Print

An Omani sovereign wealth fund has signed an understanding with Iran’s biggest auto maker, Iran Khodro Industrial Group, to study a proposal for a $200 million auto plant in Oman, a fund official said on Wednesday.
The memorandum of understanding is one of the first signed between a major Iranian company and a Gulf Arab state since international sanctions against Iran were lifted earlier this month. Traditionally, Oman has had closer ties to Iran than its Arab neighbors………………………………………..Full Article: Source

Norway’s oil wealth, an enviable nest egg in hard times

Posted on 28 January 2016 by VRS  |  Email |Print

When times get tough, it never hurts to have 700 billion euros stashed away like Norway does in the world’s biggest sovereign wealth fund to cushion the blow of plunging oil prices. Oslo has prudently tucked away most of its oil money since the 1990s in order to be able to finance its generous welfare state indefinitely.
Invested in stocks, bonds and real estate, the fund is now worth around 6.96 trillion kroner (S$1.13 trillion), equivalent to around six annual budgets or more than 137,000 euros for each of the country’s 5.2 million inhabitants………………………………………..Full Article: Source

Norway’s oil fund backs Vonovia bid for Deutsche Wohnen

Posted on 28 January 2016 by VRS  |  Email |Print

Norway’s $800 billion sovereign wealth fund, the world’s largest, has accepted Vonovia’s hostile takeover bid for rival Deutsche Wohnen , it said on Wednesday.
“We have accepted the offer from Vonovia, which we think is in the best interest of the shareholders. The rationale behind this is that we see advantages of scale, as well as cost benefits,” a spokeswoman for the fund told Reuters, adding that it would also reduce the competition between the two companies………………………………………..Full Article: Source

Future Fund shifts to cash as global investment risks rise

Posted on 27 January 2016 by VRS  |  Email |Print

Australia’s sovereign wealth fund has warned that the unwinding of economic stimulus and record low interest rates is likely to create more instability on global financial markets. The Future Fund today reported growth of 8.4 per cent for the recently ended calendar year, taking its value to $118.4 billion, but chairman Peter Costello outlined a continued cautious focus given the recent volatility.
“The run-up in asset prices has been driven by record low interest rates and … the withdrawal of monetary stimulus would see prospective returns lower than in recent years,” former Australian treasurer Mr Costello told reporters………………………………………..Full Article: Source

Temasek said to discuss potential sale of Keppel stakes in M1, Keppel Reit

Posted on 27 January 2016 by VRS  |  Email |Print

Temasek Holdings is discussing options for portfolio companies Keppel Corp and Sembcorp Industries, ranging from divesting their non-core assets to selling shares, as the two Singaporean rig builders grapple with the oil-price slump, people with knowledge of the matter said.
Temasek is weighing the possibility of Keppel selling its 19.1 per cent stake in wireless operator M1 and paring its 44.6 per cent interest in office landlord Keppel Reit, the people said, asking not to be identified as the information is private. Keppel’s holdings in the two firms are worth a combined S$1.6 billion at current market prices, according to data compiled by Bloomberg……………………………………….Full Article: Source

Temasek increases stake in US-based pharma firm

Posted on 27 January 2016 by VRS  |  Email |Print

Temasek Holdings lifted its shareholding in Nasdaq-listed Portola Pharmaceuticals last year, according to a United States Securities and Exchange Commission filing. The sovereign wealth fund increased its holdings by 750,000 shares over the course of last year to 6.584 million, as at Dec 31.
However, Temasek’s percentage stake in the firm actually fell slightly, from 12 per cent to 11.8 per cent as the overall number of Portola shares increased last year. When contacted, Temasek confirmed the share purchase but declined to disclose when it purchased the shares and for how much………………………………………..Full Article: Source

Temasek increases stake in US-based pharma firm

Posted on 26 January 2016 by VRS  |  Email |Print

Temasek Holdings lifted its shareholding in Nasdaq-listed Portola Pharmaceuticals last year, according to a United States Securities and Exchange Commission filing. The sovereign wealth fund increased its holdings by 750,000 shares over the course of last year to 6.584 million, as at Dec 31.
However, Temasek’s percentage stake in the firm actually fell slightly, from 12 per cent to 11.8 per cent as the overall number of Portola shares increased last year………………………………………..Full Article: Source

CIC joins Gooman in $500m UK deal

Posted on 25 January 2016 by VRS  |  Email |Print

Australian industrial property powerhouse Goodman Group has struck a fresh tie-up with one its major shareholders, sovereign wealth fund China Investment Corporation, agreeing a £250 million ($509.32m) deal in Britain.
The pair are poised to acquire three business parks in Britain’s southeast from the unlisted Arlington Business Parks Partnership, which Goodman already operates and owns with local group Legal & General Property. The deep-pocketed CIC was identified as the likely capital partner to buy the properties — Hammersmith Embankment, Oxford Business Park and Uxbridge Business Park — by British journal Property Week………………………………………..Full Article: Source

Temasek increases stake in Portola Pharmaceuticals

Posted on 25 January 2016 by VRS  |  Email |Print

Temasek Holdings Ltd filed increased its stake in Portola Pharmaceuticals, with an SEC filing indicated that they now own 11.8 per cent (96,583,568 shares) of Portola Pharmaceuticals Inc, which is listed on the NASDAQ. Prior to this transaction, Temasek Holdingshel held 5833568 shares as of Q3 2015, for 2.36 per cent of its US stock portfolio.
According to the latest SEC filings, 162 investors own Portola Pharmaceuticals Inc stock, with institutional ownership in Q3 2015 high at 81.73 per cent of outstanding shares………………………………………..Full Article: Source

The sovereign wealth ruling class

Posted on 25 January 2016 by VRS  |  Email |Print

It’s always good to have deep pockets, but few institutional investors carry checkbooks backed by entire nations. Yet point to one of New York City’s recent big-ticket real estate deals and there’s a good chance a sovereign wealth fund was one of the buyers.
Through the first 11 months of 2015, sovereign wealth funds spent more than $22.6 billion on real estate in the United States, up from about $9.8 billion in 2014, according to research firm Real Capital Analytics. “If you need billions of dollars for a project, where are you going to go?” said Savills Studley executive managing director Woody Heller, who heads the brokerage’s capital markets group………………………………………..Full Article: Source

FSI Investmenti at cutting edge of Arab-Italian ventures

Posted on 25 January 2016 by VRS  |  Email |Print

The Fondo Strategico Italiano (FSI) achieves its aims via direct investments and systemic joint ventures that together forge the fundamental strategy of the semi-official sovereign wealth fund. The FSI is creating close relationships with the Arab world, in particular with Kuwait and other emirates in the Gulf Cooperation Council.
The most important operation FSI brokered recently is with the Kuwait Investment Authority (KIA). The two companies announced, at the beginning of 2014, an agreement negotiated under the government of former Italian Prime Minister Enrico Letta and then officially approved in July 2014………………………………………..Full Article: Source

DP World to Invest as Much as $2 Billion in Russian Ports

Posted on 22 January 2016 by VRS  |  Email |Print

Dubai-based ports operator DP World agreed to invest as much as $2 billion in Russia after forming a joint venture with the state-owned Russian Direct Investment Fund.
DP World operates more than 65 marine terminals across six continents. It will own 80% of the joint venture and the Russian fund will own the rest, according to Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, or RDIF………………………………………..Full Article: Source

Hong Kong Monetary Authority takes Barangaroo slice

Posted on 22 January 2016 by VRS  |  Email |Print

Hong Kong’s central banking institution, the Hong Kong Monetary Authority, has emerged as the mystery investor in the $2 billion landmark Barangaroo skyscraper being developed by Lend Lease. The developer sold down a quarter of its biggest Barangaroo office tower at Christmas to an unnamed Asian institutional investor for $350 million.
Lend Lease has been selling down its investment in the $9 billion precinct over the last several years. In mid-2015, it launched a wholesale open-ended fund to invest in the final office tower, known as Lend Lease One International Towers Sydney Trust, which is managed by the developer’s investment management arm………………………………………..Full Article: Source

GIC invests undisclosed sum in deal discovery application Little

Posted on 22 January 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has invested an undisclosed amount in deals discovery application Little, which had raised a $50-million round in July 2015 from Paytm along with investment firms Tiger Global Management and SAIF Partners.
The transaction, one of the rare early-stage bets by GIC, is an extension of the July round in a transaction which underlines how entrepreneurs are shoring up capital and investor support as they see a tougher fund-raising market in 2016. “Given the current climate where everyone is talking about funding tightening up, it’s great to have an investor who has a long-term view,” said Manish Chopra, founder of Little, confirming the deal was done at the same pre-money valuation………………………………………..Full Article: Source

Malaysian SWF’s new London ventures

Posted on 22 January 2016 by VRS  |  Email |Print

Khazanah’s investments to focus on technology-enabled sector in Europe. Khazanah Nasional, Malaysia’s sovereign wealth fund (SWF), has created a European entity and opened an office in London as it plans to increase its exposure to developed markets.
The institution, which is headquartered in Kuala Lumpur’s Petronas Twin Towers with regional offices in Beijing, Mumbai, San Francisco…………………………………………Full Article: Source

Khazanah buys into China’s WeLab

Posted on 21 January 2016 by VRS  |  Email |Print

Sovereign wealth fund Khazanah Nasional Bhd has bought into China’s WeLab, a mobile lending and credit analytics platform player, with an investment of US$160mil (RM701mil) in a fundraising exercise.
The deal was done via a special purpose vehicle, Bukit Galla Investments Ltd, through which Khazanah led a consortium of investors including ING Bank and Guangdong Financial Technology Group in the fundraising exercise. The fundraiser came after the completion of a RM87.63mil round of fundraising last January by a group of strategic and financial investors including CK Hutchison’s TOM Group and Sequoia Capital………………………………………..Full Article: Source

China Investment Corp Considering Bid For Australia’s Investa Office Fund

Posted on 20 January 2016 by VRS  |  Email |Print

China Investment Corporation (CIC) is considering a bid for Australian Securities Exchange-listed Investa Office Fund, a real estate investment trust with AU$3.1 billion (US$2.1 billion) under management, according to the Australian Financial Review.
The deal follows CIC’s successful bid last July to acquire a property portfolio of nine Australian office buildings from Morgan Stanley’s real estate investment arm. Investa Office Fund owns investment grade office buildings with 22 investments located in core central business district throughout Australia………………………………………..Full Article: Source

Norwegian State Fund with Assets of 1 Qn Won Will Not Invest in Five Korean Companies: Why?

Posted on 20 January 2016 by VRS  |  Email |Print

Government Pension Fund Global (GPFG, Norway-owned investment fund), the world’s largest sovereign wealth fund with assets of 1 quadrillion won is not investing in five South Korean companies including POSCO and Daewoo International. The Norwegian state investment fund does not invest in companies producing tobacco or inhumane weapons of mass destruction such as cluster munitions, companies destroying the environment and companies with serious corruption problems.
On January 7, the GPFG announced that it would exclude ZTE, a Chinese smartphone manufacturer, from its investment portfolio due to issues of corruption. Now the number of companies throughout the world that the Norwegian fund refuses to invest in has increased to sixty-five………………………………………..Full Article: Source

Khazanah says overseas investments give better returns

Posted on 14 January 2016 by VRS  |  Email |Print

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd will be looking at expanding its presence overseas amid expectations that domestic and global economies will remain volatile in 2016.
Managing director Tan Sri Azman Mokhtar said the fund’s international investments had been giving it a higher rate of return compared with returns from Khazanah’s legacy assets. Overall, Khazanah’s investments, which includes legacy assets, have given it a return of 10.7% in 2015. But if separated, its international investments have given it about 18% per annum………………………………………..Full Article: Source

Malaysia’s Khazanah to target foreign buys as asset growth slows

Posted on 14 January 2016 by VRS  |  Email |Print

Malaysian sovereign wealth fund Khazanah Nasional pledged on Wednesday to boost its international presence, including in China, as part of a strategy that in 2015 helped it post a small rise in asset value even as the domestic economy stumbled.
The fund is open to opportunities in China, Khazanah’s managing director Azman Mokhtar said at a press conference after it disclosed a 3.2 percent rise in its portfolio value to 150.2 billion ringgit ($34.29 billion) last year. “China is moving into a different phase of economic development. When such a giant economy moves, there will be dislocations but there will also be opportunities,” Azman said………………………………………..Full Article: Source

CarTrade raises $145 mn from Temasek, others

Posted on 14 January 2016 by VRS  |  Email |Print

Online automobile classified company CarTrade, which had bought its rival CarWale.com last November, has raised $145 million in a fresh round of funding led by Temasek Holdings, US-based March Capital along with existing investor Warburg Pincus.
The new funding will be used to expand its services organically and through acquisitions, the Mumbai-based company said on Wednesday. This is the second largest investment in an Indian online classified business after Quikr’s $150 million that it raised last year………………………………………..Full Article: Source

GIC in race to pick stake in Viviana Mall

Posted on 14 January 2016 by VRS  |  Email |Print

Singapore sovereign fund GIC is in the lead to pick up a stake in Mumbai’s Viviana Mall, three people familiar with the development said. The 1 million sq ft mall, located in the northern suburb of Thane, is expected to be valued between Rs 700-800 crore. While it could not be ascertained as to how much stake GIC will acquire, industry sources indicated that it might be equal to what is held by the promoters Sheth Developers.
Ashwin Sheth, the chairman of the company did not respond to calls and text messages for a comment on the story till the time of going to the press. The proceeds from the transaction is likely to be used by Sheth Developers to pare its debt………………………………………..Full Article: Source

ShopClues joins India’s tech startup unicorn list after GIC investment

Posted on 14 January 2016 by VRS  |  Email |Print

ShopClues.com has become the latest Indian online retailer to be valued at more than $1 billion following its latest round of funding, as global investors pour funds into the nation’s fast growing e-commerce sector.
Investors have been betting that rising incomes, a young population, the government’s urbanization efforts and booming smartphone usage will stoke growth in the e-commerce sector………………………………………..Full Article: Source

Temasek unit Heliconia invests in Futuristic Store Fixtures

Posted on 13 January 2016 by VRS  |  Email |Print

Heliconia Capital Management, a wholly-owned subsidiary of Singapore state fund Temasek Holdings, has purchased a ‘significant minority stake’ in Futuristic Store Fixtures, a local store fixtures specialist firm.
Futuristic claims its clientele includes some of the world’s largest mid-to-high-end global lingerie and apparel retailers, serving more than 38 global brands, including Victoria’s Secret and leading fast fashion brands from Sweden and Japan. According to the firm, proceeds from this investment will be used to expand and upgrade the their manufacturing facilities in Selangor, Malaysia and in Kunshan, China………………………………………..Full Article: Source

Temasek invests in store fixtures company

Posted on 12 January 2016 by VRS  |  Email |Print

Home-grown company Futuristic Store Fixtures has become the latest firm to receive an investment from Heliconia Capital Management, a private equity firm owned by Temasek Holdings.
Futuristic manufactures store fixtures - such as shelves and hanging bars - for international clients, many of which are mid-to-high-end global lingerie and apparel retailers, such as Victoria’s Secret and Saks Fifth Avenue. It is one of the largest store fixtures company in South-east Asia, and its niche is in building consistent customised store fixtures that are manufactured in large quantities and shipped for assembly in their clients’ stores anywhere in the world. ……………………………………….Full Article: Source

SOFAZ agrees to acquire Palazzo Turati in Milan

Posted on 11 January 2016 by VRS  |  Email |Print

State Oil Fund of the Republic of Azerbaijan (SOFAZ) announces today the agreement to acquire Palazzo Turati, an office property in Milan’s historical Central Business District (CBD), for €97 million with the aim to further diversify its real estate portfolio. This is the first property acquisition of SOFAZ in Italy.
Palazzo Turati is located at Via Meravigli 7, historical centre of Milan, just a step away from Piazza Cordusio and Piazza Affari, and 500 m from Duomo. The building develops over six floors above the ground for office use, in addition to an exhibition hall on the ground floor. The net leasable area of this prime asset is 10 360 square meters………………………………………..Full Article: Source

Norway to Review Oil Fund’s Equity Investment

Posted on 11 January 2016 by VRS  |  Email |Print

Norway’s government ordered a review Friday to determine whether the nation’s sovereign-wealth fund should increase its exposure to global equity markets in a bid to lift returns.
The move comes as the oil fund, managed by Norway’s central bank, considers slowing down the pace of its diversification into real estate because it can’t find enough attractive properties. The fund is also suffering from a period of weak bond returns………………………………………..Full Article: Source

Norway Group to Study Equity-Share Change for $815 Billion Fund

Posted on 11 January 2016 by VRS  |  Email |Print

Norway set up a committee to review whether to change the $815 billion sovereign wealth fund’s equity share and possibly allow the investor to boost the current 60 percent allocation as it struggles to reach return targets.
Knut Anton Mork, a senior economist at Svenska Handelsbanken in Oslo, will lead the effort along with Sigbjoern Johnsen and Kristin Halvorsen, the predecessors of Finance Minister Siv Jensen, the ministry said in a statement. It will analyze the fund’s expected return and risk with different equity allocations and can propose changes in a report due by Oct. 15. That will be addressed by a government white paper the following spring………………………………………..Full Article: Source

Sovereign Wealth Funds for critical infrastructure

Posted on 11 January 2016 by VRS  |  Email |Print

Nigeria got to a giddy height of low crude oil prices which negatively affected our economy and the currency. Foreign Sovereign Wealth Funds (SWF) are now being sought to upgrade critical mass transit and energy infrastructure worth about N25 billion.
Vice President, Professor Yemi Osibajo who oversees President Muhammadu Buhari’s economic policies, late October 2015 said that other SWFs have indicated interest in the fund which would be used to address the nation’s dilapidated roads, rail and power infrastructure………………………………………..Full Article: Source

Kuwait’s sovereign fund buys Standard Chartered Dubai tower

Posted on 08 January 2016 by VRS  |  Email |Print

Kuwait Investment Authority, one of the world’s largest sovereign wealth funds, bought the Standard Chartered Plc tower in Dubai’s downtown district, signalling investor demand for income-generating assets continues even as oil declines and political tensions mount.
The 13-storey building sold for about Dh650 million, Jim Osborne, a founding partner of developer Gulf Resources Development & Investment, said in a phone interview on Thursday. Calls and e-mails to the KIA and Standard Chartered weren’t returned………………………………………..Full Article: Source

Call for GIC to invest CPF in local stocks stirs debate

Posted on 08 January 2016 by VRS  |  Email |Print

A proposal by the Singapore Business Federation (SBF) for sovereign wealth fund GIC to use Central Provident Fund (CPF) monies to invest in the Singapore stock market touched off a lively debate, with opinion split down the middle.
A number of observers panned the idea, which comes at a time when a government-appointed panel is due to recommend how CPF members can achieve higher returns through private investment plans. They said that Singapore’s market is too small to fulfil GIC’s mandate to preserve Singapore’s purchasing power by achieving long-term, diversified returns………………………………………..Full Article: Source

Oman fund, others plan $260m mining venture

Posted on 06 January 2016 by VRS  |  Email |Print

Oman’s biggest sovereign wealth fund, the State General Reserve Fund (SGRF), plans to cooperate with other state and private investors to establish a venture to buy into the mining industry, officials said on Tuesday.
The venture, Mining Development Oman (MDO), will have SR100 million ($260 million) of capital and establish vehicles for its investments in various locations, the SGRF’s executive president Abdulsalam Al Murshidi told Reuters. Three other state bodies, the Oman Investment Fund, Oman Oil Co, and Oman National Investments Development Co, will combine with the SGRF to take a total 60 per cent stake in MDO………………………………………..Full Article: Source

GIC in joint venture to buy US student housing firm for $2b

Posted on 06 January 2016 by VRS  |  Email |Print

Singapore investment firm GIC has joined hands with two other investors to form a joint venture to acquire a portfolio of student housing units in the United States for US$1.4 billion (S$2 billion). GIC, Canada Pension Plan Investment Board (CPPIB) and the Scion Group signed an agreement to buy the University House Communities Group (UHC), which owns the properties, from InvenTrust Properties.
Through the joint venture, GIC and CPPIB will each own a 47.5 per cent interest in UHC. Scion, which will manage and operate the portfolio, will own the remaining 5 per cent. UHC has properties near top-ranked US university campuses, which comprise nearly 13,000 beds………………………………………..Full Article: Source

Infra projects will get more money this year, says Jaitley

Posted on 06 January 2016 by VRS  |  Email |Print

Committing himself to increasing allocations for infrastructure projects such as rural roads, highways and the railways during 2016-17, Finance Minister Arun Jaitley said on Tuesday that public investments must lead the way during a global slowdown and India had an opportunity to spend more on infrastructure because of low oil, commodities and mineral prices.
Jaitley said funding infrastructure projects remained a big challenge, and the government was hopeful of partnering sovereign wealth funds and pension funds that evinced interest in the National Investment and Infrastructure Fund………………………………………..Full Article: Source

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