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Khazanah Nasional Berhad arm to sell stake in IDFC Bank

Posted on 30 November 2016 by VRS  |  Email |Print

A unit of Malaysian sovereign wealth fund Khazanah Nasional is selling around USD80 million worth of shares in Indian private lender IDFC Bank, according to a term sheet seen by Reuters on Tuesday.
Sipadan Investments (Mauritius) Ltd, the Khazanah arm, is selling about 80.4 million shares in IDFC Bank in a block trade, with a price range of 68.25 rupees to 71.10 rupees apiece, the term sheet showed. The deal will be priced on Wednesday………………………………………..Full Article: Source

NZ Super Fund keeps ILS investments at $200mn

Posted on 30 November 2016 by VRS  |  Email |Print

The New Zealand Super Fund’s reinsurance allocation remained stable at about $200mn in 2016. In its annual report, the sovereign wealth fund disclosed an NZ$75mn ($53mn) allocation to Elementum Advisors and a NZ$213mn investment with Leadenhall Capital Partners as at 30 June, around the same level it had invested with the funds at the same point last year.
The reinsurance and life settlements allocation represented 2.4 percent of its total NZ$30.1bn portfolio as of June………………………………………..Full Article: Source

Saudi Sovereign Wealth Fund to Invest in Alabbar-Led Company

Posted on 30 November 2016 by VRS  |  Email |Print

Saudi Arabia’s sovereign-wealth fund said Monday that it will acquire a 50% stake in an investment company led by Emirati businessman Mohamed Alabbar. The deal comes after Adeptio AD Investments SPC Ltd. last month completed the purchase of a majority stake in Kuwait’s Americana, one of the Middle East’s largest operators of fast-food chains including KFC, TGI Friday’s Inc. and Pizza Hut.
The Public Investment Fund said the transaction is part of a plan to “increase investment in non-oil sectors and build a portfolio that has greater geographical and asset class diversification.”……………………………………….Full Article: Source

Saudi fund to buy 50% stake in Adeptio

Posted on 30 November 2016 by VRS  |  Email |Print

Saudi Arabia’s top sovereign wealth fund, the Public Investment Fund (PIF), plans to buy a major stake in Adeptio, the Gulf-based investment firm which controls Kuwait Food Co (Americana) , the PIF said on Monday.
The PIF would buy 50 percent of Adeptio from United Arab Emirates-based billionaire Mohamed Alabbar, who would keep the rest of Adeptio. It did not give financial details of the deal. Last month, a subsidiary of Adeptio completed the acquisition of a 67 percent stake in Americana from the Kharafis, a wealthy Kuwaiti merchant family, for about $2.35 billion. Adeptio now plans a mandatory tender offer for remaining shares in Americana held by public shareholders………………………………………..Full Article: Source

Qatar’s sovereign wealth fund sees Spain as a gateway to investing in Latin America

Posted on 29 November 2016 by VRS  |  Email |Print

Officials in Qatar and Spain are reportedly mulling the creation of a $1 billion joint investment fund – and a meeting is being scheduled for next year to progress the plans. Spanish ambassador to Qatar, Ignacio Escobar, told Gulf Times in an interview that a bilateral visit by Spanish officials to the Gulf state is expected to take place in the first quarter of 2017, and that the visit could include the signing of an agreement to establish the fund.
He declined to reveal detailed information about any such fund but told the newspaper that Qatar’s sovereign wealth fund had previously expressed an interest in investing in Latin America – and that Spain was a “gateway to Latin America”……………………………………….Full Article: Source

Sovereign funds line up to invest post demonetisation in India

Posted on 29 November 2016 by VRS  |  Email |Print

Following the demonetisation exercise and clampdown on counterfeit notes and black money, ‘Invest India’ — the government’s investment promotion & facilitation agency — has been flooded with queries from foreign pension funds and Sovereign Wealth Funds (SWF) regarding locations and sectors to invest in the country.
Encouraged by this trend, ‘Invest India’ has decided to set up a dedicated team of experts by mid-December this year to cater to the needs of SWFs (which are state-owned investment entities) and foreign public and private pension funds, to attract mega investments into India, Invest India’s Managing Director & Chief Executive Officer, Deepak Bagla told The Hindu………………………………………..Full Article: Source

KIC, LOFA to jointly invest $130 mn in 7 U.S. hotels

Posted on 29 November 2016 by VRS  |  Email |Print

South Korea’s sovereign wealth fund Korea Investment Corporation (KIC) will invest 153 billion won ($130.8 million) in seven hotels in major cities in the United States with Local Finance Association (LOFA) on expectations for growth in the U.S. economy under the new U.S. administration in 2017.
According to multiple sources from the investment bank industry on Monday, KIC and LOFA, a provider of financial aid to local governments in Korea, have decided to jointly invest 153 billion won in seven hotels in major U.S. locations including Arizona, California and Texas………………………………………..Full Article: Source

Ireland Strategic Investment Fund commits €30m to SME lender

Posted on 29 November 2016 by VRS  |  Email |Print

The Ireland Strategic Investment Fund (ISIF) will invest €30m into the country’s largest non-bank lender, Finance Ireland. The €8bn sovereign wealth fund has “conditionally agreed” to take a 32% stake, according to a statement from Finance Ireland, and will nominate two directors for the lender’s board.
Last year, PIMCO bought a similar stake in the company through a private equity vehicle it runs. Finance Ireland lends to small and medium-sized enterprises (SMEs) in the agriculture, motor and commercial real estate sectors………………………………………..Full Article: Source

Investor Interview: GIC

Posted on 24 November 2016 by VRS  |  Email |Print

The Government Investment Corporation of Singapore (GIC) has an estimated US$350bn (€321bn) of assets – although others with knowledge of the sovereign wealth fund (SWF) believe the figure to be substantially higher.
What is certain is that GIC, the eighth largest SWF according to the SWF Institute, is big and so has needed to be innovative over the years to deploy its capital effectively. GIC has often been a trendsetter. In real estate, for example, the fund moved into student housing in 2007, before it became established as an institutional asset class. Today, global investors are vying to build portfolios in the sector…………………………………Full Article: Source

Middle East SWFs still interested in US

Posted on 21 November 2016 by VRS  |  Email |Print

Analysts are predicting that Middle East sovereign wealth funds will continue to buy big chunks of real estate in America’s biggest cities despite Donald Trump’s election victory. Over the past year, the funds, which have traditionally invested in high-profile London buildings such as the Shard and the Berkeley Square estate, have moved much of their buying appetite to North America and Asia following the Brexit vote.
But property advisers say that Mr Trump’s victory will not have the same effect. Qatar Investment Authority (QIA), which already owns stakes in Europe’s tallest building, The Shard, the Canary Wharf Estate, Harrods and the Olympic Park in London, said that it had bought a 9.9 per cent stake in Empire State Realty Trust, acquiring 29.6 million shares in the group at $21 each……………………………………Full Article: Source

‘Made in China’ exhibition will offer opportunities for Qatar in China: Doha Bank

Posted on 21 November 2016 by VRS  |  Email |Print

Optimistic on enhanced strategic relationship between Qatar and China, Doha Bank has said the recently held ‘Made in China’ exhibition will offer an opportunity for Doha to tap into the Asian country’s technological advancements. Qatar’s sovereign wealth fund received permission in 2012 to invest in China’s capital markets. Qatar Investment Authority holds shareholding in Agriculture bank of China.
China’s foreign exchange regulator awarded Kuwait Investment Authority (KIA) fresh quota of $700mn for direct investment in the Chinese securities market, on top of the $300mn already granted earlier. KIA has stake in agriculture bank of China. KIA was also granted a $1bn licence by China’s central bank in 2012 to invest in its domestic interbank bond market……………………………………Full Article: Source

Abu Dhabi Sovereign Wealth Fund Invests in US Electric Car Company Tesla Motors

Posted on 18 November 2016 by VRS  |  Email |Print

It is amazingly interesting where all the money goes when the US Government provides money to businesses, bailouts, spends money in Research and Development, or provides stimulus funding.
Sometimes if you follow the flow of that money you have to ask yourself who on earth are we stimulating, and rather than making a really bad joke about the human scrotum here, let’s just say, our stimulus promises to the American people leave a lot to be desired. The Tesla American electric car company has been given a tremendous amount of money to help fund its startup……………………………………..Full Article: Source

ADIA buys Slough shopping centres

Posted on 18 November 2016 by VRS  |  Email |Print

The Queensmere Observatory Shopping Centre in Slough has been acquired for a reported £130m by the Abu Dhabi Investment Authority (ADIA). The centre, which was sold by Criterion Capital, currently comprises almost 600,000 sq ft of retail space and is anchored by M&S, TK Maxx, Debenhams and Primark.
In addition to the two adjacent shopping centres, the acquisition also includes Wellington House, a 57,400 sq ft office building……………………………………..Full Article: Source

GIC, NPS invest $136 mn each in Korea’s retail complex near Seoul

Posted on 18 November 2016 by VRS  |  Email |Print

The Government of Singapore Investment Corporation (GIC) and the National Pension Service (NPS) have bought equity stakes in a fund launched to buy a landmark shopping complex near Seoul for $136 million each, extending their real estate portfolios into retail properties out of the South Korean capital.
Their investment in G-Square in Anyang, about 20 km south of Seoul, comes as the satellite cities of Seoul have been seeing steady inflows of population from the capital due to soaring housing prices. Vacancy rates in office buildings in downtown Seoul have climbed amid the prolonged economic slowdown……………………………………..Full Article: Source

Kinstellar advises Singapore sovereign wealth fund on €2.4bn acquisition

Posted on 17 November 2016 by VRS  |  Email |Print

Kinstellar teams in Bulgaria, the Czech Republic, Romania, Serbia and Slovakia have successfully advised GIC, Singapore’s sovereign wealth fund, on its €2.4bn acquisition of the European logistics property company P3 Logistic Parks, which is described as the largest European real estate deal this year.
The transaction, which involves a portfolio of over 163 sites primarily in eastern and southern Europe totalling 3.3 million sq m of warehouse space and additional land, is subject to regulatory approvals and is expected to close by the end of 2016…………………………………….Full Article: Source

China Investment Corp Sets Up Joint Fund For Overseas Investments

Posted on 17 November 2016 by VRS  |  Email |Print

China’s sovereign-wealth fund China Investment Corporation (CIC) has teamed up with a French public sector financial institution to jointly tap overseas investment opportunities, with a focus on real estate and infrastructure, according to an announcement.
CIC Capital, the direct investment arm of the US$810 billion-under-management state wealth manager, signed an agreement with Caisse des Dépôts International Capital, a subsidiary of State-owned Caisse des Dépôts Group, to set up a fund for cooperation while investing in third-party markets…………………………………….Full Article: Source

Saudi fund says no plan to cut local equity holdings

Posted on 17 November 2016 by VRS  |  Email |Print

Saudi Arabia’s Public Investment Fund (PIF), the country’s main sovereign wealth fund, said it had no plan to sell stakes in local companies.
“Contrary to inaccurate media speculation this morning, the Public Investment Fund has no plan or intention to reduce its equity holdings in Saudi Arabia,” the PIF. Bloomberg quoted unnamed sources as saying on Tuesday that the PIF, which owns stakes in local companies worth tens of billions of dollars, was considering selling some of those shares…………………………………….Full Article: Source

Saudi Fund Says It Has No Plans to Sell Off Local Equity Stakes

Posted on 16 November 2016 by VRS  |  Email |Print

Saudi Arabia’s sovereign wealth fund said it has no plans to sell down the equity stakes it holds in local companies. “The Public Investment Fund has no plan or intention to reduce its equity holdings in Saudi Arabia,” the fund said in an e-mailed statement Tuesday, reacting to a Bloomberg report that it’s considering options for its holdings as it looks at ways to diversify its portfolio.
The PIF, with about $100 billion worth of shares in listed local companies, is reviewing the stakes as it seeks to diversify its assets, five people with knowledge of the matter said, asking not to be identified as the discussions are private………………………………….Full Article: Source

Saudi sovereign fund eyes stake in ACWA

Posted on 16 November 2016 by VRS  |  Email |Print

Saudi Arabia’s main sovereign wealth fund, Public Investment Fund (PIF), is considering buying a stake in Riyadh-based ACWA Power, which operates power and water plants around the world, sources familiar with the matter told Reuters.
PIF, which already owns a 13.7 percent stake in ACWA indirectly through a subsidiary, invited investment banks last month to pitch for the role of advising it on a potential ACWA deal, according to four sources, declining to be named due to the sensitivity of the matter. Talks are still at a preliminary stage, and neither party has appointed an advisor, said two of the sources, who are based in the Gulf………………………………….Full Article: Source

China fund CIC teams up with French investor for overseas opportunities

Posted on 16 November 2016 by VRS  |  Email |Print

China Investment Corporation (CIC), the sovereign wealth fund, is stepping up its overseas investment, focusing on targets closely tied to the country’s economic development. Qi Bin, CIC’s deputy general manager, revealed the move, while speaking at the private equity firm Hony Capital’s annual general meeting in Shenzhen on Monday.
“This will be the future trend for CIC. Any investment must be closely tied to Chinese industry and serve in its economic transition ,” he said………………………………….Full Article: Source

KIC to lower barriers for smaller local funds

Posted on 16 November 2016 by VRS  |  Email |Print

Korea’s sovereign wealth fund Korea Investment Corp. will lower barriers for smaller local funds to be eligible for entrustment to seek economies of scale in its overseas investments, the government said Tuesday.
The Ministry of Strategy and Finance said the government agreed at a Cabinet meeting on the revision of the KIC-related act to induce more entrustment of the local institutions into the KIC and expand the scope of KIC’s investment targets………………………………….Full Article: Source

Temasek says Alibaba remains key part of its portfolio

Posted on 16 November 2016 by VRS  |  Email |Print

Temasek Holdings, the Singapore state-owned investment giant which pared its stake in Alibaba Group Holding in the third quarter, said yesterday that China’s biggest online retailer remains an essential part of its portfolio.
Temasek sold 14.5 million American depositary receipts (ADRs) in the quarter, leaving it with 39.6 million at the end of September valued at US$4.2 billion (S$5.9 billion), according to a filing with the United States Securities and Exchange Commission on Monday. Temasek had added 6.5 million ADRs in the company in the June quarter, according to an earlier filing………………………………….Full Article: Source

Singapore’s Temasek cuts stake in Alibaba in the third quarter

Posted on 16 November 2016 by VRS  |  Email |Print

Temasek Holdings Pte pared its investment in Alibaba Group Holding Ltd. in the third quarter, as shares of China’s biggest online retailer rallied, while emerging as a shareholder of software maker Dell Technologies.
The Singapore state-owned firm sold 14.5 million American depositary receipts, leaving it with 39.6 million at the end of September, worth US$4.2 billion, according to a filing with the US Securities and Exchange Commission on Monday. Alibaba gained 33 per cent in the three months through September. Temasek had added 6.5 million ADRs in the company in the June quarter, according to an earlier filing………………………………….Full Article: Source

GIC takes over P3, which has the biggest logistics park in Romania

Posted on 16 November 2016 by VRS  |  Email |Print

The Singaporean sovereign wealth fund GIC will buy P3 Logistics Parks, which also has investments in Romania, in a deal worth EUR 2.4 billion, business-review.eu informs.
P3, which is one of the biggest owners, developers and administrators of logistics assets across Europe, will be acquired by GIC from TPG Real Estate and its partner Ivanhoé Cambridge. The sellers had taken over P3 in 2013………………………………….Full Article: Source

Permanent Fund makes winning bet on a startup

Posted on 16 November 2016 by VRS  |  Email |Print

The Alaska Permanent Fund Corp. has made another winning bet on a startup company, banking more than $300 million after providing early capital for a giant home-rental firm that took advantage of the collapse of the nation’s housing market.
That initial investment came in 2012, when Permanent Fund managers put down $600 million to help start American Homes 4 Rent, created by California self-storage billionaire B. Wayne Hughes Jr. of the Public Storage empire………………………………….Full Article: Source

Chinese sovereign wealth fund CIC to raise overseas investment

Posted on 15 November 2016 by VRS  |  Email |Print

Deputy general manager Qi Bin says it will be focusing on targets closely tied to Chinese economic development. China Investment Corporation (CIC), the sovereign wealth fund, is stepping up its overseas investment, focusing on targets closely tied to the country’s economic development.
Qi Bin, CIC’s deputy general manager, revealed the move, while speaking at the private equity firm Hony Capital’s annual general meeting in Shenzhen on Monday. “This will be the future trend for CIC. Any investment must be closely tied to Chinese industry and serve in its economic transition ,” he said…………………………………….Full Article: Source

GIC Catches on to K-Style With $136M Seoul Shopping Mall Acquisition

Posted on 15 November 2016 by VRS  |  Email |Print

Korea’s unique style and fashion sense may not be everyone’s cup of tea, but Singapore’s sovereign wealth fund appears to like what it sees in the country’s retail scene. GIC invested $136 million to acquire an interest in G-Square City Retail Complex located in the suburbs of Seoul.
The 28-storey complex also has an office tower and boasts 238,248 square metres of space. Located in Anyang, the mall is roughly a 40-minute train ride from the Seoul city center, and is connected to a metro station…………………………………….Full Article: Source

Temasek Cut Stake in Alibaba in Third Quarter, Filing Shows

Posted on 15 November 2016 by VRS  |  Email |Print

Temasek Holdings Pte pared its holding in China’s biggest online retailer, Alibaba Group Holding Ltd., in the third quarter as the shares rallied, while buying stock in Internet travel agency Ctrip.com International Ltd., biopharmaceutical company AC Immune SA and Dell Technologies Inc.
The Singapore state-owned firm sold 14.5 million American depositary receipts, leaving it with 39.6 million at the end of September, worth $4.2 billion, according to a filing with the U.S. Securities and Exchange Commission on Monday. Temasek had added 6.5 million ADRs in the company in the June quarter, according to an earlier filing…………………………………….Full Article: Source

Saudi sovereign fund PIF considers buying stake in power firm ACWA

Posted on 15 November 2016 by VRS  |  Email |Print

Saudi Arabia’s main sovereign wealth fund, Public Investment Fund (PIF), is considering buying a stake in Riyadh-based ACWA Power, which operates power and water plants around the world, sources familiar with the matter told Reuters.
PIF, which already owns a 13.7 percent stake in ACWA indirectly through a subsidiary, invited investment banks last month to pitch for the role of advising it on a potential ACWA deal, according to four sources, declining to be named due to the sensitivity of the matter. Talks are still at a preliminary stage, and neither party has appointed an advisor, said two of the sources, who are based in the Gulf…………………………………….Full Article: Source

Saudi Arabia and Alabbar eye online retail domination with $1bn enterprise

Posted on 15 November 2016 by VRS  |  Email |Print

Mohamed Alabbar and Saudi Arabia’s government have teamed up to launch a US$1 billion e-commerce venture that will tap into the region’s rapidly changing retail landscape.
The chairman of Emaar Properties revealed plans for the site called noon.com today. The Public Investment Fund (PIF), chaired by Saudi’s deputy crown prince Mohammed bin Salman, will invest US$500 million in a 50 per cent share of the venture, while the other $500m commitment has been provided by Mr Alabbar and a group “of about 60 private individuals”…………………………………….Full Article: Source

Canada courts sovereign wealth for infrastructure bank

Posted on 15 November 2016 by VRS  |  Email |Print

Canada’s Liberal government is speaking to sovereign wealth funds and global private equity firms as well as domestic pension funds as it ramps up efforts to attract funding for its new infrastructure bank, according to two sources.
The overseas investors that the officials developing the infrastructure bank are speaking to include the Government Pension Fund of Norway, one of the world’s largest sovereign wealth funds, said the sources, who declined to speak on the record because of the sensitivity of the talks…………………………………….Full Article: Source

Auckland hosts $5tn room as sovereign funds mobilise

Posted on 14 November 2016 by VRS  |  Email |Print

Despite his engaging introductory monologue, NZ Superannuation Fund chief, Adrian Orr, faced tough competition for the attention of the 250 plus International Forum of Sovereign Wealth Fund (IFSWF) delegates assembled at the Auckland Viaduct Centre last week.
As Orr rolled energetically through a diversified portfolio of one-liners, NZ history lessons, IFSWF updates and conference housekeeping, large swathes of the audience – collectively responsible for some $5 trillion – were heads-down, staring at the flickering screens of mobile phones…………………………………….Full Article: Source

Norwegian sovereign wealth fund buys into Australian billboards

Posted on 14 November 2016 by VRS  |  Email |Print

In a surprising note from the stock market on Friday Norway’s Central Bank popped up with a significant stake in APN Outdoor Group. Norges Bank Investment Management informed the ASX it owns 8.4 million shares in APN Outdoor (APO) or 5 per cent, which is worth about $45.3 million at the current price. Shares in APN Outdoor dropped 2.5 per cent to $5.26 on Friday.
It has been buying the shares on market in recent months, sometimes over one million shares a day. For some perspective, Norges Bank manages about $1.14 trillion of money, which comes from Norway’s oil sales and will be used to “safeguard wealth for future generations”……………………………………Full Article: Source

Singapore’s sovereign wealth fund GIC to pick 4.8% stake in Capital First

Posted on 14 November 2016 by VRS  |  Email |Print

Capital First Ltd, a non-banking financial company (NBFC) majority owned by private equity firm Warburg Pincus, is raising Rs 340 crore ($51 million) from GIC, Singapore’s sovereign wealth fund, it said.
GIC, through an affiliate Caladium Investment Pvt. Ltd, will pick around 4.8% stake in the NBFC via a preferential allotment of 4.78 million shares at Rs 712.70 each, as per VCCircle estimates…………………………………….Full Article: Source

Abu Dhabi fund Mubadala may invest in Russian vegoil, rice firms

Posted on 11 November 2016 by VRS  |  Email |Print

Abu Dhabi state investment vehicle Mubadala Development Co may invest in a vegetable oil producer and a rice producer in Russia, a Russian state-backed fund said, in a rare Gulf investment into the country’s commodities sector.
Russia’s agriculture and food production sector has been growing due to Moscow’s decision to ban most Western food imports in 2014 in retaliation for sanctions over Ukraine, which are keeping many Western investors away from Russian assets. “Russian agriculture … is attractive to foreign investors due to the high growth rate in the domestic market and exports,” Kirill Dmitriev, the chief executive of the Russian Direct Investment Fund (RDIF), said………………………………………Full Article: Source

Investcorp plans talks with Abu Dhabi’s ADIA

Posted on 11 November 2016 by VRS  |  Email |Print

Investcorp expects to reach its target of $25 billion for assets under management (AUM) next year, by which time it will have a strategy formulated to take the measure to $100 billion, chairman Mohammed al-Ardhi said.
The investment firm is also planning to approach Abu Dhabi Investment Authority (ADIA), in a bid to broaden its investor base. In July this year, Abu Dhabi state investment fund Mubadala agreed to acquire a 20 percent stake in Investcorp at an undisclosed value………………………………………Full Article: Source

Despite massive U.S. holdings, Norway’s sovereign wealth fund is not changing its strategy after Trump’s win

Posted on 11 November 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund has said it will not change its U.S. investment strategy following Donald Trump’s election win. The sovereign wealth fund’s investment returns depend to a large extent on the U.S. economy’s fortunes. Earlier this year, the world’s biggest wealth fund grew its positions in the U.S.; and the country now represents more than a third of the fund’s portfolio.
Governor Oeystein Olsen, the head of Norway’s central bank (which manages the fund), said in an interview with Reuters: “No, we don’t make that sort of connection. The oil fund is a long-term investor. Our perspective goes beyond eight years and we don’t have any particular view on how the outcome of the presidential election impacts the economy,”……………………………………..Full Article: Source

Trump’s win won’t change Norway wealth fund’s U.S. investments

Posted on 10 November 2016 by VRS  |  Email |Print

Norway’s $869-billion sovereign wealth fund, the world’s biggest, will not change its U.S. investment strategy following the election of Donald Trump as president, the head of Norway’s central bank, which manages the fund, told Reuters on Wednesday.
“No, we don’t make that sort of connection. The oil fund is a long-term investor. Our perspective goes beyond eight years and we don’t have any particular view on how the outcome of the presidential election impacts the economy,” Governor Oeystein Olsen said in an interview………………………………………Full Article: Source

KIC, Teachers’ Pension to invest in US warehouse fund

Posted on 10 November 2016 by VRS  |  Email |Print

Korea Investment Corporation (KIC) and the Teachers’ Pension will invest in a U.S. warehouse portfolio fund for an undisclosed sum, in their first joint investment since the two South Korean funds reached a tentative agreement last year to seek overseas deals together.
The pension fund for South Korea’s private school personnel said on Nov. 8 that it and the KIC will put money in the warehouse fund which has 32 warehouse properties in key distribution centers in central, eastern and western parts of the United States, managed by a U.S. real estate investment firm………………………………………Full Article: Source

Singaporean fund GIC takes over P3 on the biggest real estate deal this year in Europe

Posted on 08 November 2016 by VRS  |  Email |Print

The Singaporean sovereign wealth fund GIC will buy P3 Logistics Parks, which has investments in Romania, following a deal worth 2.4 billion Euro, the biggest real estate deal in Europe this year. P3, one of the biggest owners, developers and administrators of logistics assets across Europe, will be acquired by GIC from TPG Real Estate and its partner Ivanhoe Cambridge.
The sellers had taken over P3 in 2013. Since then, the group has expanded and reached a portfolio of 3.3 million square meters of logistics space. The international transaction is expected to close by the end of 2016, pending regulatory approvals………………………………………Full Article: Source

Warehouses Are Hot Property—Thanks to Internet Shopping

Posted on 08 November 2016 by VRS  |  Email |Print

Singapore’s sovereign-wealth fund has agreed to pay €2.4 billion ($2.7 billion) for a portfolio of European warehouses, a sector that is thriving as investors bet on internet shopping.
GIC Pte. will buy P3 Logistic Parks, which owns and manages 163 warehouses in nine countries, from private-equity firm TPG Capital and Ivanhoé Cambridge, the property arm of Quebec’s state pension fund, the firms said in a joint statement on Monday………………………………………Full Article: Source

Qatar SWF mulls Monte dei Paschi’s $5.5bn cash call

Posted on 08 November 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is considering an anchor investor role in the world’s oldest bank. Qatar’s sovereign wealth fund has expressed a preliminary interest in backing Monte dei Paschi di Siena’s 5 billion euro ($5.56 billion) emergency cash call, two sources familiar with the matter said, although the response from investors in general has been lukewarm.
Qatar Investment Authority (QIA), estimated by industry tracker Sovereign Wealth Fund Institute to hold $256 billion of assets, has made investments in high-profile European assets such as Credit Suisse and Volkswagen………………………………………Full Article: Source

Abu Dhabi’s Mubadala weighs Tabreed stake sale: sources

Posted on 04 November 2016 by VRS  |  Email |Print

Abu Dhabi state investment vehicle Mubadala Development Co is considering the sale of a least part of its stake in Dubai’s National Central Cooling Co (Tabreed), three sources familiar with the matter told Reuters.
Tabreed’s largest shareholder since it was part of a rescue effort following an economic slowdown in Dubai at the turn of the decade, Mubadala has been considering whether to offload part of its holding or, should a suitable investor show interest, its entire stake, one of the sources said………………………………………Full Article: Source

GIC to sell shares in Shakey’s

Posted on 03 November 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC may sell some of its shares in Shakey’s Pizza Asia Ventures Inc. in the latter’s initial public offering, a source said Wednesday. The source said GIC would opt to sell some of its shares in SPAVI, formerly International Family Food Services Inc., depending on the final IPO price.
“It will all depend on the final pricing of the IPO,” the source said. SPAVI filed a registration statement with the Securities and Exchange Commission last month to raise as much as P5.5 billion from the sale of 352 million primary and secondary shares, including 46 million shares to meet extra demand at a maximum price of P15.58 apiece…………………………………….Full Article: Source

Australia’s Future Fund Turns Cautious, a Sign of Things to Come

Posted on 03 November 2016 by VRS  |  Email |Print

Australia’s Future Fund is moving away from riskier assets, in a sign that major institutional investors are becoming more conservative. Australia’s sovereign wealth fund declared on Monday that it made a 1.5% gain in the quarter through September, bringing total assets to A$124.7 billion ($95 billion).
“Like all investors across major global economies, we are facing a low-return environment,” said the fund’s chairman, Peter Costello, previously the treasurer of the Liberal Party. He said the fund is performing “well,” but is taking a “disciplined and prudent approach” to new investment…………………………………….Full Article: Source

UAE, Qatar may invest in SoftBank’s $100bn fund

Posted on 03 November 2016 by VRS  |  Email |Print

SoftBank Group is calling on sovereign wealth funds in the United Arab Emirates and Qatar to invest in a $100 billion technology fund the Japanese company is setting up with Saudi Arabia.
SoftBank plans to pour at least $25 billion into the SoftBank Vision Fund over the next five years, with Saudi Arabia’s sovereign wealth fund expected to contribute $45 billion. The UAE and Qatar are said to be interested in chipping in…………………………………….Full Article: Source

Mubadala weighs in on plans to invest in $100bn tech fund

Posted on 03 November 2016 by VRS  |  Email |Print

Qatar Investment Authority also said be in talks to join the Saudi-backed investment fund. Abu Dhabi’s Mubadala Development Company is in discussions with Japan’s SoftBank Group Corporation for a potential multi-billion dollar investment in its new technology fund, according to a report.
In October, Saudi Arabia’s Public Investment Fund and SoftBank announced plans to launch $100 billion (AED367 billion) SoftBank Vision Fund appealing to Middle Eastern investors and sovereign wealth funds…………………………………….Full Article: Source

Mubadala Said to Consider Investing in SoftBank’s Tech Fund

Posted on 02 November 2016 by VRS  |  Email |Print

Abu Dhabi investor Mubadala Development Co. is in talks with SoftBank Group Corp. about a potential multi-billion dollar investment in its technology fund, people familiar with the matter said.
Japan’s SoftBank, run by Masayoshi Son, is also in talks with European and North American investors, one of the people said, asking not to be identified because the deliberations are private. No final agreements have been reached and talks may still falter, the people said. The Qatar Investment Authority sovereign wealth fund is also in discussions to join the project, people familiar with the matter said last month……………………………………Full Article: Source

China’s CIC and AEW Team Up to Buy Two French Malls From Grosvenor for $206M

Posted on 02 November 2016 by VRS  |  Email |Print

China Investment Corporation (CIC) decided a little retail therapy was in order after announcing it had recorded a loss on overseas investment in 2015 a few months back. For the sovereign wealth fund this shopping binge meant investing €188 million ($206 million) to buy two French malls — its second set of shopping centres in the country.
As with its previous Gallic retail acquisition, CIC has teamed up with private investment manager AEW to purchase and manage the newly acquired assets……………………………………Full Article: Source

Oman sovereign wealth fund buys into Spanish manufacturer Escribano

Posted on 01 November 2016 by VRS  |  Email |Print

Oman’s State General Reserve Fund (SGRF) agreed to buy 32.2 percent of Mecanizados Escribano, a family-owned Spanish company making precision mechanical components for the aerospace, defence and other sectors, the sovereign fund said on Monday.
The deal is part of a drive by Oman to use its sovereign fund assets to help diversify the economy beyond oil and gas exports; under the deal, Escribano will set up a local manufacturing entity in Oman, although details were not given………………………………………Full Article: Source

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