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SMRT shareholders give thumbs-up to Temasek buyout offer, after voting to sell rail assets to Government

Posted on 30 September 2016 by VRS  |  Email |Print

SMRT Corp shareholders have given the thumbs-up to the privatisation offer by Temasek Holdings. This was the second meeting of the day, coming after a vote to sell off SMRT’s train and other rail assets to the Government as part of the New Rail Financing Framework deal struck in July. That vote also went through with an overwhelming majority.
The voting in the first meeting was delayed due to a computer glitch in the electronic voting system and a longer-than-expected meeting that saw some frustrated shareholders walk out………………………………………Full Article: Source

Blackstone-backed Sithe said to get final bids for Asia plant

Posted on 30 September 2016 by VRS  |  Email |Print

A group comprising Kuwait Investment Authority and private equity firm CVC Capital Partners is among final bidders for Sithe Global Power LLC’s stake in a Philippine power plant that could fetch at least US$500 million, people with knowledge of the matter said.
A consortium of Singapore’s sovereign wealth fund GIC Pte, Malaysian power company Malakoff Corp Bhd and an infrastructure investment fund managed by Macquarie Group Ltd also made a binding offer, said the people, who asked not to be identified as the process is private. Aboitiz Power Corp, based in the Philippines, is vying for the Blackstone Group LP-backed company’s asset as well, the people said………………………………………Full Article: Source

NSIA targets $1.6bn investment for Nigeria

Posted on 30 September 2016 by VRS  |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA), has announced its plan to attract about $1.6 billion co-investment in the nation’s infrastructure sector. This is even as the managers of the country’s Sovereign Wealth Fund (SWF) announced its plan to start distributing its dividends to shareholders of the fund by next year.
Uche Orji, Managing Director and Chief Executive Officer of NSIA disclosed these yesterday when the Senate Committee on Finance led by its Chairman John Enoh paid an oversight function visit to NSIA, at its headquarters in Abuja. According to Orji, NSIA will use the $400 million they secured as Nigeria Infrastructure Fund to attract $1.6 billion of co-investment into the country………………………………………Full Article: Source

KIA, GIC in groups bidding for Philippine power plant stake

Posted on 29 September 2016 by VRS  |  Email |Print

A group comprising the Kuwait Investment Authority (KIA) and private equity firm CVC Capital Partners is among final bidders for Sithe Global Power’s stake in a Philippine power plant that could fetch at least US$500 million (S$680 million), people with knowledge of the matter said.
A consortium of GIC, Malaysian power company Malakoff and an infrastructure investment fund managed by Macquarie Group also made a binding offer, said the people, who asked not to be identified………………………………………Full Article: Source

Former GIC manager launches robo-advisor for institutional investors

Posted on 29 September 2016 by VRS  |  Email |Print

ClearMacro has launched the world’s first robo-research platform, enabling institutional investors to independently optimise thier asset allocation decisions. The robo-advisor, which was launched on 27 September, hasn’t yet attracted any paying clients from the pensions industry.
ClearMacro was established by Mike Simcock, who is also the company’s CEO. Simcock was previously head of fixed income, Europe, at Singapore’s giant GIC sovereign wealth fund, which has assets under management of more than €90 billion………………………………………Full Article: Source

Big investors like Norway’s wealth fund should use heft to increase growth potential -study

Posted on 28 September 2016 by VRS  |  Email |Print

Norway’s $887 billion sovereign wealth fund and other institutional investors should invest in illiquid, unlisted assets in emerging economies if they want to make money in the future, a leading expert on the fund said on Tuesday.
Sony Kapoor, managing director of the Re-Define think tank and author of a 2013 study on the fund, told Reuters the world’s biggest wealth fund should put its weight behind projects that will increase the world economy’s potential for growth……………………………………Full Article: Source

Emerging Economies to Counter Big Chill in Returns, Norfund Says

Posted on 28 September 2016 by VRS  |  Email |Print

Institutional investors should look to emerging markets to avoid a toxic combination of falling financial returns and higher political risk in the developed stock and bond markets. The Norwegian sovereign wealth fund, the world’s biggest, is seeking to expand its investment universe into unlisted infrastructure investments to take advantage of its size.
While pension and sovereign wealth funds are struggling with weak returns in OECD markets, opportunities can be found in infrastructure, private equity and unlisted assets in developing economies, according to a report by Re-Define, commissioned by the Norwegian Investment Fund for Developing Countries, or Norfund……………………………………Full Article: Source

Qatar-Indonesia joint investment fund in ‘final stages’

Posted on 27 September 2016 by VRS  |  Email |Print

The $1bn joint investment fund (JIF) by Qatar and Indonesia is nearing its final stages, and is expected to fund major infrastructure and energy projects, an official has said. Special envoy to the Indonesian president for Middle East Affairs Dr Alwi Abdurrahman Shihab said Indonesia’s share of the JIF (15%) “is ready.” He also said the government is just waiting for the Qatar Investment Authority (QIA) to select from several projects Indonesia has prepared to start the JIF.
“This joint investment fund should be, as soon as we can, made into a reality because the Indonesians have already provided four to five projects to be picked by the Qatar Investment Authority (QIA) in order for us to show the Indonesian people that the investment is there,” Shihab said …………………………………….Full Article: Source

Rahejas eyes deal with Temasek

Posted on 27 September 2016 by VRS  |  Email |Print

K Raheja Corp, one of the largest developers of IT parks, is in talks with Singapore-based Temasek Holdings and American private equity firm Warburg Pincus to sell stake in its office space holding company, said a source in the know.
While it could be Temasek’s first investment in Indian real estate, Warburg has a couple of high profile investments in Indian real estate. A Temasek spokesperson said, “As a matter of policy, we do not comment on market speculation”. An e-mail sent to Warburg Pincus did not elicit any response……………………………………..Full Article: Source

Future Fund may not buy more infrastructure: Peter Costello

Posted on 26 September 2016 by VRS  |  Email |Print

Future Fund chairman Peter Costello has warned that the $125 billion fund might have sated its appetite for infrastructure assets by the time the Queensland government accepts reality and reverses its anti-privatisation position.
Speaking after the Future Fund-led Lonsdale consortium paid an eye-popping $9.7bn on Monday for a 50-year lease of the Port of Melbourne, Costello noted the irony of the Queensland government-owned QIC’s participation in the well-timed privatisation of the nation’s leading container port…………………………………….Full Article: Source

CIC said to review Engie SA’s unit stake

Posted on 26 September 2016 by VRS  |  Email |Print

Sovereign fund China Investment Corp is reviewing options for its 30 percent stake in French multinational electric utility Engie SA’s exploration and production business, which it had bought for 2.3 billion euros in 2011.
According to people familiar with the matter, in July, the unit was seen having a potential to fetch about $4 billion. The French utility, which operates in the fields of electricity generation and distribution, natural gas and renewable energy, is pushing ahead with a sale…………………………………….Full Article: Source

Qatar withdraws from race for Grosvenor House and New York Plaza

Posted on 26 September 2016 by VRS  |  Email |Print

The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers.
The QIA’s withdrawal, confirmed by three people briefed on the situation, prolongs the troubles of India’s Sahara Group, which owns the Grosvenor House and majority stakes in New York’s Plaza and Dream Downtown hotels…………………………………….Full Article: Source

How Norway spends its $882 billion global fund

Posted on 21 September 2016 by VRS  |  Email |Print

It’s tough for a small democracy to run the world’s biggest sovereign-wealth fund. Two decades after Norway’s government paid a first deposit into its sovereign-wealth fund, the country is learning how to manage a behemoth. The vehicle, which is used to invest abroad the proceeds of Norway’s oil and gas sales, has amassed a bigger fortune than anyone expected, thanks to previous, bumper oil prices.
As the direct benefits of oil decline—around 46% of Norway’s expected total haul of oil and gas is gone—the relative importance of the fund will grow. Annual revenues from it now regularly exceed income from oil sales………………………………………Full Article: Source

Chinese fund takes 20% of $7.3bn Melbourne port

Posted on 21 September 2016 by VRS  |  Email |Print

The Australian state of Victoria has leased the port of Melbourne for $7.3bn (A$9.7bn) to a consortium led by the Queensland Investment Corporation (QIC), which also includes a Chinese sovereign wealth fund.
The sale price agreed was A$3.9bn higher than the original estimate for the deal, and was greeted by Daniel Andrews, the premier of Victoria, as “a A$9.7bn vote of confidence in the Victorian economy”………………………………………Full Article: Source

CIC, Korea’s National Pension Service pitch in for port

Posted on 20 September 2016 by VRS  |  Email |Print

China’s mammoth sovereign wealth fund, CIC, and South Korea’s National Pension Service have emerged as secondary investors in the $9.7 billion Port of Melbourne sale, underscoring the weight of international demand for top-tier Australian infrastructure despite mounting anti-foreign investment curbs from the federal government.
The two Asian funds backed Global Infrastructure Partners’ $2.24bn equity commitment to the record-breaking privatisation, with the multinational private equity firm that specialises in infrastructure ranking as one of the biggest contributors to the winning consortium……………………………………….Full Article: Source

Future Fund, others buy Port of Melbourne

Posted on 20 September 2016 by VRS  |  Email |Print

The Future Fund, Queensland Investment Corporation and one of China’s biggest sovereign wealth funds have snapped up the Port of Melbourne for a whopping $9.7 billion.
The Future Fund and QIC teamed up with international investment managers Global Infrastructure Partners and Canadian pension fund the Ontario Municipal Employees Retirement System (also known as OMERS) as part of its consortium. A fund managed by Global Infrastructure Partners will hold a 40 per cent stake in the port……………………………………….Full Article: Source

GIC looks to buy Blackstone’s Australian retirement village owner

Posted on 20 September 2016 by VRS  |  Email |Print

GIC is believed to be looking to acquire an Australian retirement village owner, National Lifestyle Villages, owned by Blackstone. Singapore’s sovereign wealth fund is understood to be attracted by the asset’s steady income stream, estimated at about AUD200m (€135m) annually.
GIC recently purchased Yes Communities in the US for $2bn (€1.8bn). The investor is expected to run into a number of competitors interested in Australia’s growing yet highly fragmented retirement living sector……………………………………….Full Article: Source

Temasek among suitors for Learfield

Posted on 20 September 2016 by VRS  |  Email |Print

Temasek Holdings Pte, the Singaporean state-owned investment group, is among the bidders for Learfield Communications Inc, according ot people familiar with the matter.
Temasek is in the second round of the Learfield auction, as are entertainment and sports talent group Creative Artists Agency LLC and Thomas H. Lee Partners, said the people, who asked not to be identified because the information is private. Temasek may opt to bid in tandem with another group, one of the people said. Learfield, which has been owned by private equity firm Providence Equity Partners since 2013, could fetch as much as US$1.2bil in a sale, the people said……………………………………….Full Article: Source

SOFAZ invests in EBRD debut fund

Posted on 20 September 2016 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ), which bears responsibility for accumulating and managing oil and gas revenues of the country, is planning to invest some €100 million in the Equity Participation Fund (EPF), a debut fund managed by the European Bank for Reconstruction and Development (EBRD).
The EPF will allow SOFAZ to participate in the EBRD’s direct equity investment portfolio in Central and Eastern Europe, Central Asia and the southern and eastern Mediterranean region, as well as in Turkey, with a view to achieve a long-term capital growth by making investments in financial, industrial, agricultural, infrastructure, and energy sectors……………………………………….Full Article: Source

SWFs commit capital to central and eastern Europe

Posted on 20 September 2016 by VRS  |  Email |Print

Sovereign wealth funds have become the first institutional investors to commit capital to a new direct equity venture by the European Bank for Reconstruction and Development targeting emerging markets.
China’s State Administration of Foreign Exchange and the State Oil Fund of Azerbaijan have committed a combined €350 million in the first round of fundraising for the Equity Participation Fund, according to a September 19 statement……………………………………….Full Article: Source

Oman fund to invest in India’s power sector

Posted on 20 September 2016 by VRS  |  Email |Print

Oman’s State General Reserve Fund (SGRF), a sovereign wealth fund, plans to support a joint venture that aims to facilitate investment in India’s power sector, a report said. SGRF will join Canada-based La Caisse de dépôt et placement du Québec (CDPQ), a leading institutional fund manager and Kuwait Investment Authority (KIA), a sovereign wealth fund in backing the platform company set up by India’s Tata Power and ICICI Venture, added the Oman Observer report.
The plat plans to raise an initial capital of up to $850 million to be contributed by the sponsors and partner investors either directly or through their affiliates, according to the report……………………………………….Full Article: Source

CIC Said to Review Options for Engie Exploration Stake Amid Sale

Posted on 16 September 2016 by VRS  |  Email |Print

Sovereign fund China Investment Corp. is reviewing options for its 30 percent stake in Engie SA’s exploration business as the French utility pushes ahead with a sale, according to people familiar with the matter.
The $814 billion wealth fund has reached out to banks to seek pitches for a strategic review of its stake in the Engie business, which has assets spanning Europe and Africa, the people said. CIC, based in Beijing, is unlikely to sell its holding and is leaning toward increasing it, the people said, asking not to be identified because the information is private. The unit could fetch about $4 billion, people familiar with the talks said in July………………………………………..Full Article: Source

Oman wealth fund joins initiative to invest in India’s power sector

Posted on 16 September 2016 by VRS  |  Email |Print

The State General Reserve Fund (SGRF), a sovereign wealth fund of the Sultanate of Oman, is part of a trio of globally renowned investors that are backing a ‘platform company’ set up to facilitate investment in India’s booming power sector. The platform company has been jointly launched by Tata Power, India’s largest integrated power company, and ICICI Venture, a specialist alternative assets manager wholly owned by ICICI Bank, the largest private sector bank in India.
Earlier this week, Tata Power and ICICI Venture announced the establishment of the Platform to facilitate investment in power projects in India in the coming two-three years, which are in either operational or in advanced stages of development………………………………………..Full Article: Source

Oman wealth fund joins initiative to invest in India’s power sector

Posted on 15 September 2016 by VRS  |  Email |Print

The State General Reserve Fund (SGRF), a sovereign wealth fund of the Sultanate of Oman, is part of a trio of globally renowned investors that are backing a ‘platform company’ set up to facilitate investment in India’s booming power sector. The platform company has been jointly launched by Tata Power, India’s largest integrated power company, and ICICI Venture, a specialist alternative assets manager wholly owned by ICICI Bank, the largest private sector bank in India.
Earlier this week, Tata Power and ICICI Venture announced the establishment of the Platform to facilitate investment in power projects in India in the coming two-three years, which are in either operational or in advanced stages of development………………………………………..Full Article: Source

Malaysian sovereign fund Khazanah selling stake in utility Tenaga

Posted on 13 September 2016 by VRS  |  Email |Print

Malaysian sovereign wealth fund Khazanah Nasional Bhd is divesting part of its stake in national power utility Tenaga Nasional, two sources familiar with the matter told Reuters on Thursday.
Khazanah is looking to sell 82 million shares of Tenaga, or about 1.5 percent of the total shares outstanding, which could raise up to US$294 million, according to a termsheet seen by IFR, a Thomson Reuters publication. The fund is looking to sell the stake at RM14.30-RM14.56 per share, according to the termsheet. Tenaga’s shares closed at RM14.56 on the Kuala Lumpur stock exchange on Thursday………………………………………..Full Article: Source

Qataris let Sainsbury’s stake fall over Argos deal

Posted on 13 September 2016 by VRS  |  Email |Print

Qatar Investment Authority’s stake in J Sainsbury has fallen by 3 per cent after the sovereign wealth fund declined to pour money into new shares to help to fund the grocer’s purchase of Home Retail Group.
In a move that might raise questions about how supportive the Qataris are of Sainsbury’s swoop on Home Retail, owner of Argos, a public filing yesterday disclosed that QIA’s shareholding had fallen from 25 per cent to 22 per cent………………………………………..Full Article: Source

Australian Potash mining firm inks investment pact with Oman wealth fund

Posted on 09 September 2016 by VRS  |  Email |Print

Australian-based mineral exploration and development company Elemental Minerals Ltd has announced that it has signed a strategic investment agreement with the State General Reserve Fund (SGRF), the Sultanate’s sovereign wealth fund, that will help finance the development of a major potash project in the Republic of Congo.
The Perth-headquartered firm announced in a statement that the SGRF is one of three globally significant strategic investors that have made a cumulative $50 million equity injection against the allocation of shares in the company………………………………………..Full Article: Source

Petrobras to sell 90% in its natural gas pipeline network to a SWF consortium

Posted on 08 September 2016 by VRS  |  Email |Print

Brazil’s state-run oil company Petroleo Brasileiro SA, also known as Petrobras, yesterday struck a deal to sell 90 per cent of its natural gas pipeline network to a consortium led by Canada’s Brookfield Asset Management Inc for $5.2 billion, according to a Reuters report.
The consortium includes Singapore sovereign-wealth fund GIC Pte, Chinese sovereign-wealth fund China Investment Corp. and a British Columbia’s pension fund. Early this year Petrobras had put its natural gas pipeline unit Nova Transportadora do Sudeste SA (NTS) up for sale, as part of its plan to sell $15 billion worth of non-essential assets by year-end in order to reduce its massive debt pile of $130 billion………………………………………..Full Article: Source

Potash mining firm inks investment pact with Oman wealth fund

Posted on 08 September 2016 by VRS  |  Email |Print

Australian-based mineral exploration and development company Elemental Minerals Ltd has announced that it has signed a strategic investment agreement with the State General Reserve Fund (SGRF), the Sultanate’s sovereign wealth fund, that will help finance the development of a major potash project in the Republic of Congo.
The Perth-headquartered firm announced in a statement that the SGRF is one of three globally significant strategic investors that have made a cumulative $50 million equity injection against the allocation of shares in the company………………………………………..Full Article: Source

China’s CIC Boosts Direct Investments in Search of Returns

Posted on 06 September 2016 by VRS  |  Email |Print

Bespectacled and with a professorial demeanor, Ding Xuedong smiles broadly as he walks the hallways of China Investment Corp’s headquarters, but the staff knows full well that the chairman carries a big stick.
Since taking the helm of CIC in July 2013, Ding has restructured China’s influential sovereign wealth fund by overhauling top management, shifting power over its $250 billion global portfolio from a handful of individual managers to investment teams, and conducting periodic audits to guard against corruption and conflicts of interest between managers and the investments they make………………………………………..Full Article: Source

Singapore startup Garena says Temasek unit Seatown among new investors

Posted on 06 September 2016 by VRS  |  Email |Print

Singaporean e-commerce startup Garena Interactive Holding Ltd on Monday said its latest round of fundraising has brought it investment from companies including a subsidiary of Singapore state investor Temasek Holdings.
Garena said in a statement it had raised an undisclosed amount from Temasek’s SeaTown Holdings as well as venture capital firms GDP Venture of Indonesia and Mistletoe of Japan. The capital raising comes after Garena in March said it had received $170 million from investors led by Malaysian state investor Khazanah Nasional Bhd. The three new investors join a global institutional investor base that includes General Atlantic and the Ontario Teachers’ Pension Plan, Garena said………………………………………..Full Article: Source

Saudi SWF plans stake in big industrial zone-source

Posted on 06 September 2016 by VRS  |  Email |Print

Saudi Arabia’s top sovereign wealth fund is negotiating to buy a stake in one of the kingdom’s most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said.
The Public Investment Fund aims to invest in King Abdullah Economic City (KAEC) on the Red Sea coast near Jeddah, the source said. That would inject capital into the business zone, now being developed by Emaar the Economic City (EEC), a Saudi consortium affiliated with Dubai’s Emaar Properties Group , developer of the Burj Khalifa, the world’s tallest building………………………………………..Full Article: Source

Saudi state fund plans stake in big industrial zone

Posted on 05 September 2016 by VRS  |  Email |Print

Saudi Arabia’s top sovereign wealth fund is negotiating to buy a stake in one of the kingdom’s most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said.
The Public Investment Fund aims to invest in King Abdullah Economic City (KAEC) on the Red Sea coast near Jeddah, the source said. hat would inject capital into the business zone, now being developed by Emaar the Economic City (EEC), a Saudi consortium affiliated with Dubai’s Emaar Properties Group, developer of the Burj Khalifa, the world’s tallest building………………………………………..Full Article: Source

Challenging times ahead for investment: Future Fund’s Peter Costello

Posted on 02 September 2016 by VRS  |  Email |Print

Future Fund chairman Peter Costello has warned of rising investment risks and lower returns despite the nation’s sovereign wealth fund rebounding from its first quarterly loss in four years.
It comes a slower market returns force the fund to look increasingly to private investments to maintain its performance in its second decade. The former federal treasurer also waded into the ongoing debate over monetary policy, signalling it was time for the world to focus on other means to stimulate the economy………………………………………..Full Article: Source

Liberum sells down GIC’s stake in Jimmy Choo

Posted on 02 September 2016 by VRS  |  Email |Print

The Singaporean sovereign wealth fund has sold around one-third of its stake in Jimmy Choo via a placing by the upmarket shoemaker’s joint corporate brokers Liberum Capital and RBC. The footwear brand, in a filing on August 31, said that GIC – which bought shares worth 4.6% of the company during its London listing in October 2014 and then increased that stake to 6.1% in September 2015 – had dropped its stake in the business on August 25 to 3.99%.
Liberum Capital placed most of the roughly nine million shares sold, according to a person familiar with the process. Jimmy Choo shares closed trading on August 25 at 124p each………………………………………..Full Article: Source

Qatari sovereign wealth fund takes a slice of the Big Apple

Posted on 02 September 2016 by VRS  |  Email |Print

Qatar Investment Authority (QIA), the Middle Eastern country’s sovereign wealth fund, bought almost 10pc of Empire State Building owner Empire State Realty Trust as it boosts investments in North America and the Asia Pacific region.
The fund acquired 29.6 million newly issued Class A common shares at $21 each and will have a 9.9pc economic and voting interest in the real estate investment trust. The acquisition translates into a new $622m investment in Empire State Realty, the company said in a statement………………………………………..Full Article: Source

SOFAZ not interested in shares of Saudi Aramco

Posted on 01 September 2016 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ is not planning to participate in the purchase of shares of Saudi Aramco, the state-owned oil company of the Kingdom of Saudi Arabia, which is formally known as one of the largest oil producers, Trend reported.
The government of Saudi Arabia is planning to hold an IPO (Initial Public Offering) of Aramco’s shares in 2018 and attract some $100 billion by means of the sale of 5 percent of its shares. The Saudi government engaged JPMorgan and ex-banker of Citigroup Michael Klein for the implementation of IPO………………………………………..Full Article: Source

Temasek’s SMRT buyout a maybe-win case for investors

Posted on 01 September 2016 by VRS  |  Email |Print

In 2001, a year after it was listed, SMRT Corp paid main shareholder Temasek Holdings a special dividend of $540 million. The transport operator has since paid out a further $1.2 billion or so in dividends to shareholders.
Temasek, which owns 54 per cent of SMRT, would have collected another $630 million or so, meaning the state investor has collected close to $1.18 billion in dividends from SMRT. Temasek’s offer to take SMRT private - made through a scheme of arrangement last month - is also $1.18 billion………………………………………..Full Article: Source

These are the stocks the world’s biggest sovereign wealth is putting its faith in

Posted on 01 September 2016 by VRS  |  Email |Print

The sovereign wealth fund of Norway, officially known as the Government Pension Fund of Norway, is the largest in the world, worth more than £657 billion ($861.9 billion).
The fund is split, like any well-managed portfolio, between equities, bonds, property, and numerous other asset classes, with stocks making up the biggest proportion of the fund - 59.6%. Earlier in August, the fund released its second quarter report detailing the performance of all its holdings and how it did overall………………………………………..Full Article: Source

Vietcombank to sell 7.73 percent stake to Singapore SWF

Posted on 31 August 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC is set to acquire a 7.73 percent stake on a fully enlarged basis in Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietcombank announced on August 29.
The two entities signed a memorandum of agreement, under which GIC will purchase nearly 305.82 million new shares in Vietcombank, Vietnam’s largest bank by market capitalisation………………………………………Full Article: Source

Singapore Sovereign-Wealth Fund to Buy Stake in Top Vietnamese Bank

Posted on 30 August 2016 by VRS  |  Email |Print

Singapore sovereign-wealth fund GIC Pte. Ltd. will acquire a 7.73% stake in Vietcombank, Vietnam’s largest bank by market capitalization, the latest in a series of bids by foreign companies for a slice of one of Asia’s hottest frontier markets.
The deal is in part the result of Vietnam’s increasing openness to outside investment as it looks to liberalize a bloated state sector and streamline regulations. GIC will purchase 305.81 million shares in Vietcombank though a private placement. The joint statement didn’t provide financial details about the stake sale, but people familiar with the process said the deal value was likely to be around $400 million………………………………………..Full Article: Source

India, Britain may create joint sub-fund under NIIF: Jaitley

Posted on 30 August 2016 by VRS  |  Email |Print

Finance Minister Arun Jaitley here on Monday said that India and Britain are exploring the possibility of creating a joint sub-fund under the National Investment and Infrastructure Fund (NIIF).
“Officials from both India and UK are jointly exploring creation of an India-UK sub-fund under the NIIF umbrella. We look forward to implementation of this task expeditiously and positively in near future,” Jaitley said during his meeting with visiting British Secretary of State for International Trade Liam Fox………………………………………..Full Article: Source

Norway’s $890 billion sovereign wealth fund outflows are affecting risk strategy

Posted on 30 August 2016 by VRS  |  Email |Print

Norway’s $890 billion sovereign wealth fund is acknowledging that rising withdrawals by the government could hamper its quest to manage more risk and generate greater returns as it takes on more and more negative yielding securities.
The net outflows are “relevant for how we think about the risk-bearing capacity of the fund,” Egil Matsen, the deputy governor at Norway’s central bank who’s in charge of oversight of the fund, said in an interview Friday while attending a central banking conference in Jackson Hole, Wyoming………………………………………..Full Article: Source

Turkey’s Sovereign Wealth Fund to ease financing for megaprojects

Posted on 29 August 2016 by VRS  |  Email |Print

Turkey’s Sovereign Wealth Fund (SWF) will aim to eliminate financing issues for megaprojects, often the biggest obstacle a project can face. It is also expected to turn domestic firms into global players in the fields of defense, aviation and software.
Following the publication of the government’s decision to create a SWF in the official gazette, the Prime Ministry-led Turkish Wealth Sovereign Fund Management Inc. was established with an estimated capital of TL 50 million ($16.93 million)………………………………………..Full Article: Source

Region’s wealthy to continue diversification into overseas property

Posted on 29 August 2016 by VRS  |  Email |Print

The price of oil may have fallen but Middle Eastern property investors are set to continue to pump billions of dirhams into big-name properties overseas, despite slowing global growth. Analysts predict that although property prices locally are falling, the amount of money raised by sovereign wealth funds, private companies and high net worth individuals in the region to spend on bricks and mortar in Europe and North America is set to rise this year.
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 US$21 each………………………………………..Full Article: Source

Biggest Wealth Fund Warns Outflows Are Affecting Risk Strategy

Posted on 29 August 2016 by VRS  |  Email |Print

Norway’s $890 billion sovereign wealth fund is acknowledging that rising withdrawals by the government could hamper its quest to manage more risk and generate greater returns as it takes on more and more negative yielding securities.
The net outflows are “relevant for how we think about the risk-bearing capacity of the fund,” Egil Matsen, the deputy governor at Norway’s central bank who’s in charge of oversight of the fund, said in an interview Friday while attending a central banking conference in Jackson Hole, Wyoming……………………………………….Full Article: Source

Qatari Sovereign Wealth Fund Buys a Stake in the Empire State Building

Posted on 25 August 2016 by VRS  |  Email |Print

The fund has announced a U.S. investment push of $35 billion in five years. The owner of the Empire State Building has sold 9.9% of its company to a Qatari sovereign wealth fund. The Empire State Realty Trust announced Qatar Investment Authority’s $622 million acquisition on Tuesday afternoon.
The Qatar Investment Authority expanded to New York almost a year ago, announcing a U.S. investment push of $35 billion in five years, according to The Wall Street Journal. COO John Kessler in a statement on Tuesday called QIA “one of the most sophisticated and reliable real estate investors in the world.”……………………………………….Full Article: Source

Qatar fund invests $622 mln in owner of Empire State Building

Posted on 25 August 2016 by VRS  |  Email |Print

Qatar Investment Authority (QIA), the Gulf state’s investment arm, has invested $622 million in the owner of the Empire State Building in New York. The investment gives QIA a 9.9 percent stake in Empire State Realty Trust (ESRT), a listed New York-based trust which manages a portfolio of office and retail properties in Manhattan and the greater New York metropolitan area, ESRT said in a press statement published on their website on Tuesday.
“Our relationship with QIA is a great fit for ESRT. We look forward to a long and mutually beneficial relationship,” Anthony E. Malkin, chairman and CEO of ESRT, was quoted as saying………………………………………..Full Article: Source

NY State Of Mind: Qatar Wealth Fund Buys Empire State Building Stake

Posted on 25 August 2016 by VRS  |  Email |Print

The sovereign wealth fund Qatar Investment Authority purchased a 9.9% stake in the Empire State Building’s owner, Empire State Realty Trust (ESRT). As Bloomberg’s David Levitt reports, the fund bought 29.6 million newly issued Class A common shares at $21 each, or a $622 million investment. The shares also come with voting interest.
From the report: The investment will help Empire State Realty “plan for the future, now with more capital and one of the most sophisticated and reliable real estate investors in the world as our partner,” John Kessler, the company’s president, said in the statement………………………………………..Full Article: Source

Turkey’s $200 Billion Wealth Fund to Finance Transport Projects

Posted on 24 August 2016 by VRS  |  Email |Print

Turkey’s proposed national wealth fund, which could total as much as $200 billion, will finance projects including airports, seaports, roads and railroads across the country, according to a government minister.
The fund, approved by parliament last weekend, will be used to carry out projects that don’t have a build-operate-finance model, Transport, Maritime and Communication Minister Ahmet Arslan said on Tuesday. Some sub-funds will provide finance for those infrastructure projects, he said in an interview at the work-site for the third bridge connecting Asia and Europe across the Bosporus waterway that will open Friday………………………………………..Full Article: Source

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