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Sovereign Wealth Funds Briefing - Category | Investment more

Bahrain’s sovereign wealth fund eyes Saudi investments

Posted on 05 May 2016 by VRS  |  Email |Print

Bahrain’s sovereign wealth fund Mumtalakat Holding Co. is looking to invest in Saudi Arabia as the country prepares to privatize state-owned entities under the Saudi Vision 2030 plan, MEED reported, citing the fund’s chief executive Mahmood Hashim Alkooheji.
“I think yes. It is a very important market to us,” Alkooheji said during the Euromoney Saudi Arabia conference in Riyadh. “The region offers a lot of opportunities. We have made investments in the UAE, the US and we invested in Spain and hopefully, we will be able to invest with our bothers in the Saudi Arabia as well.”……………………………………….Full Article: Source

Big investor sticks with Duke Energy — at least for now

Posted on 05 May 2016 by VRS  |  Email |Print

Norges Bank Investment Management, which controls Norway’s $900 billion Sovereign Wealth Fund, holds almost 4.7 million shares in Charlotte-based Duke Energy, according to the most recent information available from Securities and Exchange Commission filings.
That is down about 1 million shares from the number of shares Norges held last year. But Norges remains the 18th-largest institutional holder in Duke. It is not yet clear if Norges will continue to hold on to those shares for the Norwegian government fund. The Norwegian parliament voted last year to have the fund consider divesting itself of companies that are overly dependent on coal………………………………………..Full Article: Source

Temasek Unit Backs Startup Diamond Exchange as Trade Kicks Off

Posted on 05 May 2016 by VRS  |  Email |Print

Singapore state investment company Temasek Holdings Pte is throwing its weight behind a diamond exchange that began trading in the city-state on Thursday, backing the project through venture-capital unit Vertex Venture Holdings.
Investors can trade single stones as well as so-called baskets of investment-grade diamonds electronically for physical settlement, the Singapore Diamond Investment Exchange said in a statement. At first, the exchange aims to support spot trading, with plans for derivatives and exchange-traded products………………………………………..Full Article: Source

Here Are 4 Ways to Invest Like the Pros at Sovereign-Wealth Funds

Posted on 05 May 2016 by VRS  |  Email |Print

In the world of investing, there are the small players, big players and then the biggest players of all: sovereign-wealth funds, which are state-owned investment funds. The world’s SWFs manage trillions of dollars’ worth of investments on behalf of the governments that raised these funds through different forms of taxes, most frequently, by taxing natural-resource extraction.
The funds are usually set aside for when they are needed but in the meantime are allocated in a wide array of investments. The largest SWF is Norway’s, Norway Government Pension Fund Global, which as of last June controlled $873 billion, according to the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Asset Allocation: Saying no to infrastructure

Posted on 04 May 2016 by VRS  |  Email |Print

Norway’s decision to keep unlisted infrastructure out of its sovereign wealth fund (SWF) has raised questions about the investment case for the asset class. At the beginning of April, the Norwegian Ministry of Finance declared that it would not permit unlisted infrastructure investments in the SWF because the potential benefits were unclear.
The Government Pension Fund consists of the former oil fund, the NOK7.47trn (€802bn) Government Pension Fund Global (GPFG), and the much smaller, domestically-orientated NOK198bn Government Pension Fund Norway (GPFN)………………………………………..Full Article: Source

Azerbaijan’s SOFAZ continues funding of floating drilling rig project

Posted on 04 May 2016 by VRS  |  Email |Print

Azerbaijan’s state oil fund has issued $718.6 million to fund construction of a new generation floating drilling rig in Azerbaijan since the project launch. The Fund told Trend that $22.6 million was issued for the project in the first quarter of 2016.
The project cost hits $1,117 billion. The drilling operator is “Caspian Drilling Company” (CDC), in which SOCAR owns 92.44-percent share. The Singaporean Keppel FELS Limited was chosen as the contractor of the drilling rig’s construction………………………………………..Full Article: Source

Qatar Investment Authority to cut its focus on Europe

Posted on 04 May 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is reducing its focus on investments in Europe and placing more of its money with external managers following an internal review, sources familiar with the matter told Reuters.
Qatar Investment Authority, estimated by industry tracker Sovereign Wealth Fund Institute to hold $256bn of assets, is known as an aggressive investor in high-profile European assets such as the Shard skyscraper and Harrods department store in London, as well as Credit Suisse and Volkswagen……………………………………….Full Article: Source

Shares underperform region as 1MDB worries dominate sentiment

Posted on 04 May 2016 by VRS  |  Email |Print

Malaysian shares slumped to a two-and-a-half month low, lagging behind regional markets, and the ringgit tumbled to its lowest in a month Tuesday, as lingering concerns about state fund 1Malaysia Development’s default continued to weigh on sentiment.
The nation’s benchmark FTSE Bursa Malaysia KLCI fell for the seventh consecutive session, slipping 1.27% to 1,651.44 points, its lowest level since February 15. The index has slipped nearly 4% since 1MDB announced its missed interest payment last week. Malaysia markets were closed yesterday………………………………………..Full Article: Source

Qatar’s sovereign wealth fund shifts focus to Asia

Posted on 03 May 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is boosting its focus on investments in Asia and the United States, while cutting its allocations in Europe. The QIA, which reportedly holds USD256bn of assets, is now placing more money with external managers focused on Asia and the United States after its internal review showed sharp falls in the prices of some of the European assets it owns strongly suggest that the fund is over committed in Europe.
Sources quoted by Reuters said specific examples for changing strategy were the poor performance of QIA’s investments in German carmaker Volkswagen, where it holds a 17% stake, and London-listed commodities trading house Glencore, where it owns 9%………………………………………..Full Article: Source

Sovereign funds remain positive on India

Posted on 02 May 2016 by VRS  |  Email |Print

Concerns that falling oil prices would trigger a sell-off by sovereign wealth funds (SWFs) in the domestic market seem to have been unfounded. SWF assets in the equities market have risen 14 per cent to Rs 1.76 lakh crore during 2015-16, despite a nine per cent decline in the Sensex.
Overall foreign portfolio investor (FPI) equity assets fell by 6.3 per cent to Rs 18.9 lakh crore during this period, latest data by depository firm NSDL shows. SWFs, investment vehicles set up by countries with budget surpluses, invest in various liquid asset classes across the globe. Over half of global SWFs are from countries rich in natural resources, particularly oil………………………………………..Full Article: Source

Temasek Holdings reorganises to prioritise investment team

Posted on 28 April 2016 by VRS  |  Email |Print

Temasek Holdings has reorganised its senior management to refocus its investment team to cope with volatile markets. The reorganisation which sees the promotion of six investment professionals is a move by Temasek International (TI) chief executive Lee Theng Kiat to refine roles and set priorities.
Lee was promoted to his current post last September. Temasek on Tuesday said its organisation structure change is aimed at aligning the firm with its core priorities in these challenging global times………………………………………..Full Article: Source

Singapore’s GIC to acquire stake in transmission utility ITC for $1.23B

Posted on 26 April 2016 by VRS  |  Email |Print

Singapore-based sovereign wealth fund GIC has signed an agreement with North American electric and gas utility Fortis to acquire 19.9% of independent transmission utility ITC for $1.23 billion. The agreement follows a deal signed by Fortis in February to acquire all of ITC for roughly $11.3 billion, Kallanish Energy reports.
“Given the high quality transmission platform ITC offers, the strength of the Fortis management team, and GIC’s long-term approach to infrastructure investing, we look forward to a successful transaction and partnership,” said Rhys Evenden, head of North American Infrastructure for GIC………………………………………..Full Article: Source

New Zealand Superannuation Fund divests interests in 3 offshore funds

Posted on 26 April 2016 by VRS  |  Email |Print

New Zealand Superannuation Fund, New Zealand’s sovereign wealth fund (SWF), has divested its interests in three offshore private equity (PE) funds with, with the consideration and buyer kept confidential. The sales was reported by New Zealand publication Scoop News.
Based on figures from its website, the NZ Super Fund claims to maintains a capitalisation of assets under management (AUM) worth NZ$29.6 billion (US$20.35 billion), with a rate of return per annum after costs and before taxes of 9.44 per cent, as of 31 March 2016………………………………………..Full Article: Source

GIC Rounds Off Portfolio With Biggest Stock Buy in Eight Years

Posted on 22 April 2016 by VRS  |  Email |Print

GIC Pte’s biggest stock transaction in eight years helps it expand holdings in an industry that it has lagged behind in: Utilities. GIC on Wednesday said it agreed to pay $1.23 billion in cash to buy 19.9 percent of U.S. power line operator ITC Holdings Corp. from Canada’s largest utility owner Fortis Inc.
The transaction is the Singapore sovereign wealth fund’s biggest as the sole buyer of equities since it spent $6.88 billion on Citigroup Inc. securities in January 2008, according to data compiled by Bloomberg. The state fund, over the last 12 months, bought real estate assets as well as interests in the retail, hospital and health-care industries………………………………………..Full Article: Source

Singapore fund GIC to buy stake in US power group ITC for $1.23 bln

Posted on 22 April 2016 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC has struck a deal with Canadian utility Fortis Inc to buy a 19.9 percent stake in ITC Holdings Corp for $1.23 billion. In February, Fortis said it would buy U.S. power transmission company ITC for $6.9 billion – its biggest deal ever. It had said it would partly fund the deal by selling up to 19.9 percent of ITC to an investor, which it did not name.
“With the definitive agreement for the sale of 19.9 percent of ITC to GIC, Fortis has completed a significant component of the ITC acquisition financing,” the three companies said in a joint statement on Wednesday………………………………………..Full Article: Source

Singapore’s GIC Buys 19.9% of U.S.’s ITC for $1.23 Billion

Posted on 21 April 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC Pte agreed to buy 19.9 percent of ITC Holdings Corp. from Fortis Inc. for $1.23 billion in cash in one of the biggest investments Asian companies have made in U.S. power lines operators.
The transaction allows Fortis to keep an investment-grade credit rating, according to a statement by the three companies on Wednesday. Fortis, Canada’s largest utility owner, agreed in February to buy ITC for $6.9 billion in cash and stock. With Wednesday’s announcement, Fortis has done most of the “heavy lifting” on the financing of the deal, according to Chief Executive Officer Barry Perry………………………………………..Full Article: Source

ICICI Venture raises $190 mn from Temasek, existing investors

Posted on 21 April 2016 by VRS  |  Email |Print

ICICI Venture has raised $190 million (around Rs 1,250 crore) for its fourth private equity fund from Singaporean sovereign fund Temasek Holdings and existing investors to be invested in companies across sectors.
This is the first close for the India Advantage Fund Series 4, under which the PE subsidiary of the country’s largest private sector lender ICICI Bank is targeting to raise $500 million, company sources said. It is a sector-agnostic fund and ICICI Venture will invest up to $25-50 million in each company, they said………………………………………..Full Article: Source

Chinese sovereign fund consortium eyeing Pizza Hut and KFC restaurants in China

Posted on 21 April 2016 by VRS  |  Email |Print

A group of investors comprising sovereign wealth fund China Investment Corp (CIC), KKR & Co and Baring Private Equity Asia is in talks to buy controlling stake in Yum Brands Inc’s China unit, people familiar with the matter said.
Yum Brands, owner of the Pizza Hut and KFC fast food chains, plans to spin off its 6,900 China restaurants by the end of 2016. The China unit accounts for about half of its parent’s total sales and is valued at about US$10 billion, based on its core earnings, bankers and analysts estimate………………………………………..Full Article: Source

Fortis to sell minority stake in ITC to Singapore’s sovereign wealth fund

Posted on 21 April 2016 by VRS  |  Email |Print

Fortis Inc. has signed a deal to help finance its blockbuster US$11.3 billion acquisition of U.S. electric transmission company ITC. The utility company announced Wednesday it has an agreement that will see Singapore’s sovereign wealth fund take a minority stake in ITC Holdings Corp. for US$1.228 billion in cash.
Under the agreement, GIC Private Ltd. will acquire a 19.9 per cent equity interest in ITC Holdings Corp. The ITC deal announced in February would expand Fortis’s holdings in the U.S. and give it access to more than 25,000 kilometres of transmission lines………………………………………..Full Article: Source

China sovereign fund seeks control of Yum China

Posted on 20 April 2016 by VRS  |  Email |Print

A consortium backed by sovereign fund China Investment Corp has expressed interest in buying a majority stake in Yum Brands Inc’s China business, which runs more than 7,100 KFC and Pizza Hut eateries across the country, Bloomberg reported on Tuesday.
KKR & Co, a firm reported to be in the consortium, said in an e-mail to China Daily that it was “unable to comment on market speculation”. The investor group, which also includes Baring Private Equity Asia, is conducting due diligence on the unit, the report said. A deal could value Yum China at $7 billion to $8 billion, Bloomberg quoted unnamed sources as saying………………………………………..Full Article: Source

China sovereign fund to seek majority control of Yum unit

Posted on 19 April 2016 by VRS  |  Email |Print

China Investment Corp, China’s state-owned sovereign wealth fund, is backing a group of investors who have expressed interest in buying a majority stake in Yum Brands Inc’s China unit, Bloomberg reported, citing people with knowledge of the matter.
A deal could value Yum’s China unit at $7 billion to $8 billion, Bloomberg said, citing sources. The investor group also includes KKR & Co LP and Baring Private Equity Asia, the report said………………………………………..Full Article: Source

GIC, S. Korean retail giant team up to build mall

Posted on 19 April 2016 by VRS  |  Email |Print

Sovereign wealth fund GIC and South Korean retail giant Shinsegae have joined hands to develop a prime retail mall in the Incheon Free Economic Zone. Affiliates of the two firms have entered into a US$197 million (S$267 million) sale and purchase agreement for a nearly 60,000 sq m site, centrally located in the international business district of Songdo, GIC said.
The high-tech Songdo district, dubbed the world’s smartest, has been built from scratch on reclaimed land near the Incheon International Airport and has a population of nearly 70,000 residents, mostly families and young couples………………………………………..Full Article: Source

Singapore’s GIC invests in Indonesia’s logistics market with MMP deal

Posted on 18 April 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has made its first investment in Indonesia’s logistics sector, via its partnership with PT Mega Manunggal Property Tbk to build warehouses in the country. GIC has not disclosed the financial terms of the investment. PT Mega Manunggal Property Tbk is a publicity listed logistics developer.
Its partnership with GIC will see them firms develop a portfolio of quality logistics warehouses of up to 500,000 square metres of net leasable area (NLA) in Indonesia over the next three years, with a focus in the Greater Jakarta region and Greater Surabaya………………………………………..Full Article: Source

South Korea vs. Foreign Investors

Posted on 15 April 2016 by VRS  |  Email |Print

“We will refrain from investing in activist hedge funds,” declared Korea Investment Corp., the sovereign wealth fund, after the public learned that it had placed $50 million with Elliott in 2010.
Regulators at the Financial Services Commission meanwhile honed in on how Elliott built its 7% stake in Samsung C&T. In particular, did its swap agreements with banks, covering just over 2% of the shares, allow it to “park” shares at the banks and dodge the law requiring public disclosure of ownership starting at 5%?……………………………………….Full Article: Source

Key U.S. stocks rule hurting big investors: Norway wealth fund

Posted on 13 April 2016 by VRS  |  Email |Print

A key rule governing the U.S. stock market that effectively forces stock orders to be sent to the exchange displaying the best quoted price is outdated and should be scrapped, said an executive of the world’s largest sovereign wealth fund.
The “order protection rule” was put in place in 2005 as part of a broader framework known as Regulation National Market System and was aimed largely at ensuring mom-and-pop retail investors obtain the best price………………………………………..Full Article: Source

How the Qatar Investment Authority’s economic strategy affects the Western world?

Posted on 12 April 2016 by VRS  |  Email |Print

As reported in Bloomberg news and other venues, Qatar’s government is looking to get involved in the U.S. in a big way. The country’s sovereign wealth fund, the Qatar Investment Authority, has opened a New York office and is aggressively looking to acquire U.S. assets with $35 billion. At the same time, Qatar and its related investors are also spending money in other places around the world, including China and the European Union.
In the midst of all this, many are asking how these relationships will affect Western nations, which traditionally have pushed for democracy around the world. Will EU nations and the U.S. still be as vocal and up front about human rights problems when they are receiving so much money from Gulf states like Qatar?……………………………………….Full Article: Source

Envoy seeks Abu Dhabi funds for British cities

Posted on 12 April 2016 by VRS  |  Email |Print

Jim O’Neill, the Goldman Sachs economist who became a British Treasury minister, completed a doctoral thesis arguing that Opec oil producers did not put their savings to good use. Gulf sovereigns paid scant attention to rates of return, he wrote – and worse, made investment decisions on an “ad hoc basis”.
But now, 23 years later, Mr O’Neill is visiting the UAE to ask its sovereign wealth funds to invest their savings into Britain’s post-industrial northern cities, as part of an infrastructure initiative the UK government calls the “Northern Powerhouse”. The Abu Dhabi Investment Authority (Adia), for example, holds a significant property portfolio in London as well as stakes in hotels and UK utilities………………………………………..Full Article: Source

Saudi Arabian PIF may invest $40 bn more in S. Korean stocks

Posted on 08 April 2016 by VRS  |  Email |Print

South Korean stocks would benefit once a Saudi Arabian sovereign wealth fund increases its assets and adopts a more aggressive investment strategy, according to a Korean brokerage report that expects additional $40 billion from the fund would flow into the South Korean stock market starting as early as next year.
According to KDB Daewoo Securities Co. on Thursday, as the Middle Eastern country has decided to increase its sovereign wealth fund’s assets and adopt an aggressive investment strategy, tens of trillions of won worth money could flow in the Korean stock market from the country’s sovereign fund………………………………………..Full Article: Source

Khazanah frontrunner for stake in Sutures India

Posted on 08 April 2016 by VRS  |  Email |Print

Domestic private equity fund Kedaara Capital and Malaysian sovereign wealth fund Khazanah Nasional Bhd have emerged as likely buyers for a minority stake in surgical equipment maker Sutures India Pvt. Ltd, said two people familiar with the development.
The deal size is expected to be around Rs.400 crore, they said. US-based private equity fund TPG Growth owns 52% in Sutures and CX Partners holds 20%, while the rest is held by the promoters………………………………………..Full Article: Source

Sovereign Wealth And Pension Funds Eye Bigger Bet On Asia And Alternatives

Posted on 08 April 2016 by VRS  |  Email |Print

Faced with a challenging investment environment, central banks, sovereign wealth funds (SWFs) and government pensions are adapting their investment models to be more agile, according to a new research report by State Street Corporation.
After surveying over 100 central banks, sovereign wealth funds and government pensions globally, State Street says these official institutions are diversifying their portfolios and looking at new asset classes and markets. Despite the weakened outlook for growth in China, Asia remains the most attractive region for investment with 89% of Asia-Pacific institutions and 63% of institutions from other regions planning to increase their investments there………………………………………..Full Article: Source

Norway rejects proposal of investing wealth fund in infrastructure

Posted on 06 April 2016 by VRS  |  Email |Print

Norway’s $850-billion sovereign wealth fund, the world’s largest, should not be allowed to invest in unlisted infrastructure projects, the government said on Tuesday in its annual white paper. The central bank, which manages the fund, had recommended that it should be allowed to invest in infrastructure.
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. In the future, allocations in real estate could rise to 7 percent, the government said………………………………………..Full Article: Source

Tencent, Temasek Joins $45M Round In Logistics Big Data Firm G7

Posted on 06 April 2016 by VRS  |  Email |Print

Chinese logistics big data firm G7 has completed a US$45 million series C+ round of funding from Tencent Holdings Ltd., Singapore’s sovereign wealth fund Temasek Holdings and Eastern Bell Venture Capital, according to Chinese media reports.
The company operates similarly to global competitors such as Navman wireless, Mix, Omnitracs, Telogis and Fleetmatics. It helps logistics companies better manage their fleet of trucks, enabling them to track key data on each vehicle after installing a device that the company calls “wearables for trucks”. G7 says around 200,000 cargo vehicles in China have installed its devices, and claims S.F. Express and DHL as among its customers………………………………………..Full Article: Source

Saudi Arabia plots major takeovers: GBP1.4TRN fund is big enough to buy Apple and Facebook

Posted on 05 April 2016 by VRS  |  Email |Print

Desperate Saudi Arabia is to create a £1.4TRILLION sovereign wealth fund to raise the cash needed to keep its economy afloat amid plunging profits from lower oil prices. The fund would be the largest in the world and could give the country the mechanism to buy - and control - some of the biggest companies in the globe, including Google, Apple and Facebook.
Cash for the fund is set to be raised by privatising state-owned oil company Saudi Aramco. The aim is to generate income from investments and away from oil, as the Kingdom undertakes the biggest economic reforms the country has ever seen. As part of the changes, Saudi is also set to slap citizens with more taxes and increase subsidy cuts………………………………………..Full Article: Source

Norway to tap oil fund to buy Shetland Islands

Posted on 04 April 2016 by VRS  |  Email |Print

Norway will tap into its sovereign wealth fund to purchase the Shetland Islands from the UK, both countries announced on Friday. Neither side was willing to divulge the financial details of the plan, which will see the archipelago return to its Viking roots.
“In our mind, this deal was a no-brainer. Shetland still has strong ties to Norway and with our fertility rate at an all-time low, we could certainly use the population boost,” Norway’s newly-appointed minister of global expansion, Erik Gundersen, said in a statement………………………………………..Full Article: Source

$1 trillion wasted on unneeded coal while Future Fund considers backing Adani

Posted on 01 April 2016 by VRS  |  Email |Print

There is almost $1 trillion in the pipeline for new coal developments, even as the sector is facing structural decline, a new report from The Sierra Club, Greenpeace and CoalSwarm has revealed. And in Australia, as investors back away from Adani’s controversial Galilee Basin coal mine and superannuation companies haemorrhage members’ money on fossil fuel investments, our $118 billion sovereign wealth fund, The Future Fund, is considering bankrolling the project.
There are too many coal plants in the world, but the fossil fuel industry is intent on building more anyway. That’s the contention of a new report released this week by The Sierra Club, Greenpeace and CoalSwarm, which estimates it would cost $981 billion to construct all the proposed coal developments in the world, even as the industry faces what many analysts say is a terminal decline………………………………………..Full Article: Source

Looking for $7.4 Billion in Startup Funding? France Has It

Posted on 01 April 2016 by VRS  |  Email |Print

There’s a 6.5 billion euros ($7.4 billion) funding pot waiting in France for startups and innovative technology companies, the country’s sovereign wealth fund chief said, citing commitments from public and private investors. Originally set up as a sovereign investment fund in 2009, Bpifrance has inherited a portfolio worth 14.8 billion euros spread over companies including Orange SA, funds of funds, and innovative businesses.
That’s enough to cover financing needs for startups over the next three years in the country, Nicolas Dufourcq, the head of Bpifrance SA, told reporters in Paris on Wednesday. “The years 2016, 2017 and even 2018 are very well covered,” he said………………………………………..Full Article: Source

Jaitley asks Australia’s sovereign wealth, pension funds to invest in India

Posted on 31 March 2016 by VRS  |  Email |Print

Promising better returns, Finance Minister Arun Jaitley today invited Australia’s sovereign wealth funds and pension funds to invest in India. During a bilateral meeting with Australian Treasurer Scott Morrison here today, Jaitley sought investments from the Future Fund, Australia’s sovereign wealth fund, as also from the Super Fund, the country’s multi-industry superannuation fund.
Jaitley also called for higher investments by Australian businesses in India, saying they can get better returns on their investments. He also said that India wants to benefit from the Australian experience in implementing GST, saying India is ready for GST rollout as hoped the new indirect taxation regime will soon become a reality………………………………………..Full Article: Source

Samruk Kazyna Buys Shares of KMG Kashagan B.V.

Posted on 30 March 2016 by VRS  |  Email |Print

A deal worth $5.5 million was struck March 9 between Samruk Kazyna Sovereign Wealth Fund and KMG Kashagan B.V. The action followed a corresponding decision made in December by the wealth fund’s board of directors, according to the fund’s letter published March 11 on the Kazakhstan Stock Exchange (KASE) website.
KMG Kashagan B.V. owns 16.88 percent of Kashagan oil and gas field. The deal notification specifies the property which is the subject of the transaction is valued at $5.5 million, or 0.02 percent of Samruk Kazyna’s total assets. KMG Kashagan B.V.’s shares were purchased by advance payment, according to the document………………………………………..Full Article: Source

India invites SWFs to invest in India

Posted on 30 March 2016 by VRS  |  Email |Print

India needs to further ease its business processes to boost investments, Finance Minister Arun Jaitley said Tuesday while inviting foreign sovereign wealth funds to be part of the country’s infrastructure, pension and insurance funds.
He also assured investors here that the government has resolved various legacy issues with regard to taxation and is gradually working to bring down the corporate tax rates to the global level of 25 percent from 30 percent currently………………………………………..Full Article: Source

Sovereign Wealth Descends On China

Posted on 30 March 2016 by VRS  |  Email |Print

Despite economic headwinds, such as a potential for massive job losses in China, foreign public funds continue to want to access thematic institutional investments in Asia’s largest market. Public institutional investors such as sovereign funds have directly invested over US$ 42.97 billion in China (including Hong Kong) from 2013 to the end of 2015, according to SWFI’s Sovereign Wealth Fund Transaction Database.
Sovereign investors such as Singapore’s GIC Private Limited, China Investment Corporation (CIC), Qatar Investment Authority (QIA) and the Kuwait Investment Authority (KIA) actively pursued large-scale opportunities in Chinese real estate and company investments………………………………………..Full Article: Source

KKR, Chinese sovereign wealth fund reportedly hungry for Yum! China investment

Posted on 29 March 2016 by VRS  |  Email |Print

KKR & Co. and sovereign fund China Investment Corp. are among potential suitors studying investments in Yum! Brands Inc.’s Chinese business, people with knowledge of the matter said. Baring Private Equity Asia is also exploring a potential minority stake purchase, and the three funds might decide to team up for a joint investment, according to the people.
Yum is considering the sale of a 20% holding in its Chinese business, which could value the unit around $10 billion, the people said, asking not to be identified as the information is private. CIC’s Beijing press office didn’t immediately respond to an e-mail seeking comment. The Wall Street Journal reported KKR’s interest in a minority stake in Yum China earlier, citing unidentified people………………………………………..Full Article: Source

CPGI, Singapore’s GIC acquire Shakey’s PH

Posted on 29 March 2016 by VRS  |  Email |Print

Local tuna canner Century Pacific Group Inc. (CPGI) has partnered with Singapore’s sovereign wealth fund GIC Private Ltd. to acquire the Philippine franchise holder of US-based popular pizza chain Shakey’s. In a statement, CPGI said it is acquiring International Family Food Services Inc., operator of Shakey’s pizza chain in the Philippines which, in turn, is owned by the Prieto family.
Under the purchase agreement, a new entity to be owned by CPGI and GIC will acquire the majority interest of the pizza business from the Prieto family. The Prieto family, under the deal, will continue to hold a minority stake in Shakey’s………………………………………..Full Article: Source

Singapore’s GIC sovereign fund expects low US stock returns

Posted on 24 March 2016 by VRS  |  Email |Print

GIC expects below-average returns from U.S. stocks over the next five to 10 years, but the Singapore sovereign wealth fund still sees the U.S. as an important source of investment opportunities.
“The greatest strength of the U.S. is the private sector. If that continues to be the case, we are not concerned,” said Lim Chow Kiat, GIC Private Ltd’s chief investment officer. “We find a lot of investment opportunities in the U.S.,” he said. “A lot of exciting things are coming out of the private sector on a daily basis.”……………………………………….Full Article: Source

Danish bank, Norway’s sovereign fund own stakes in Romania’s oil carrier-Report

Posted on 24 March 2016 by VRS  |  Email |Print

The top 10 shareholders of the Romanian oil carrier Conpet Ploiesti include Norway’s sovereign fund, which owns 0.24% of the company, and the largest Danish lender Danske Bank, with a stake of 0.14%, according to the latest reports recorded on Bloomberg.
The Romanian state controls the company through the Energy Ministry, which has a majority stake of 58.7%, and Romanian investment fund Fondul Proprietatea has a 6% stake, reports local Ziarul Financiar. The NN private pension funds have a combined stake of 3.29% in the company and local investment fund SIF Banat-Crisana bought a stake of 1% in the carrier in the third quarter of last year………………………………………..Full Article: Source

Philippines’ Century Pacific, Singapore’s GIC to buy Shakey’s Philippines

Posted on 23 March 2016 by VRS  |  Email |Print

Philippines’ conglomerate Century Pacific Group said on Wednesday it teamed up with Singapore’s sovereign investor GIC to acquire the domestic operator of the Shakey’s Pizza restaurant chain without disclosing financial terms of the deal.
The move to buy the local operation of U.S.-based Shakey’s, with close to 170 stores in the Philippines at end-2015, is the second deal between Century Pacific’s controlling Po family and GIC. In May 2014, the Singaporean fund converted a 3.38 billion pesos ($73 million) loan into a 10 percent stake in Century Pacific Food Inc, the group’s canned goods maker………………………………………..Full Article: Source

Po family, GIC buy Shakey’s pizza chain

Posted on 23 March 2016 by VRS  |  Email |Print

The Po family has teamed up with GIC Private Ltd., the sovereign wealth fund of Singapore, to acquire a controlling stake in the company that owns and operates the Shakey’s pizza parlor chain. The transaction will also include Bakemasters Inc, a supplier of bakery products to Shakey’s and other food service customers, as well as the Philippine franchise for Project Pie, a US artisan pizza restaurant chain, the Po family’s Century Pacific Group Inc. (CPGI) announced on Wednesday.
Under the deal, a new entity to be owned by CPGI and GIC will acquire majority of the pizza business under the holding firm International Family Food Services Inc. (IFFSI) from the Prieto family, which will continue to hold a minority stake in the company………………………………………..Full Article: Source

GIP raises $2.75b for first Australian infrastructure fund

Posted on 23 March 2016 by VRS  |  Email |Print

Global Infrastructure Partners, one of the proposed new owners of Asciano’s Pacific National rail business, has raised around $2.75 billion for its first Australian infrastructure fund to take advantage of rising demand for infrastructure investments. CPPIB has a 33 per cent share of the consortium, while GIP has 27 per cent, according to the scheme implementation deed.
China’s CIC Capital Corporation has 16 per cent, while Singapore sovereign wealth fund GIC and the British Columbia Investment Management Corporation each have 12 per cent stakes………………………………………..Full Article: Source

Qatar sets 5% limit for shareholders of listed banks

Posted on 23 March 2016 by VRS  |  Email |Print

Investors must limit their holdings in publicly-traded banks and financial firms in Qatar to 5 per cent of a company’s capital, or 10 per cent with a central bank waiver, according to regulations published on Monday.
Qatar Investment Authority, the country’s sovereign wealth fund, owns stakes including 51.9 per cent of Qatar National Bank SAQ and 17.4 per cent of Qatar Islamic Bank SAQ, according to data compiled by Bloomberg. Real estate developer Ezdan Holding Group’s assets include 9.9 per cent of QIB and 21.5 per cent of Qatar International Islamic Bank………………………………………..Full Article: Source

Danish bank, Norway’s sovereign fund own stakes in Romanian oil carrier

Posted on 23 March 2016 by VRS  |  Email |Print

The top 10 shareholders of the Romanian oil carrier Conpet Ploiesti include Norway’s sovereign fund, which owns 0.24% of the company, and the largest Danish lender Danske Bank, with a stake of 0.14%, according to the latest reports recorded on Bloomberg.
The Romanian state controls the company through the Energy Ministry, which has a majority stake of 58.7%, and Romanian investment fund Fondul Proprietatea has a 6% stake, reports local Ziarul Financiar………………………………………..Full Article: Source

Saudi Arabia, Egypt to sign $8bn investment deal Sunday

Posted on 22 March 2016 by VRS  |  Email |Print

Saudi Arabia’s sovereign wealth fund, Public Investment Fund PIF) will sign a preliminary agreement Sunday to invest up to 30 billion Saudi riyals ($8 billion) in Egypt’s energy, tourism, and housing sectors. The agreement will be signed by Egyptian Minister of Investment Ashraf Salman.
The planned investments are part of Saudi King Salman’s announcement made last December about the kingdom’s plans to increase investments in Egypt. Public Investment Fund is a sovereign wealth fund of the Government of Saudi Arabia. It seeks to invest through equity, loans or guarantees, and through allocations of public funds to specific projects………………………………………..Full Article: Source

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