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Canary Wharf Group directors to pocket £23m from Qatari-led takeover

Posted on 30 January 2015 by VRS  |  Email |Print

Directors of Canary Wharf Group are in line for a £23m windfall following the £2.6bn Qatari-led takeover of the property firm’s parent. Sir George Iacobescu, the head of Canary Wharf Group, will get the biggest share, £3.8m, from the sale of his Songbird shares to the Qatari Investment Authority and Canadian firm Brookfield Properties.
In 2013, Iacobescu was awarded more shares that have not been released yet and would be worth a further £2.3m, taking his potential total windfall to £6.1m. A Romanian engineer who escaped Nicolae Ceauşescu’s communist regime in the 1970s, Iacobescu has been involved in the construction of the Docklands financial district in east London from its beginnings in the late 1980s……………………………………….Full Article: Source

SOFAZ to invest $500 million in yuan

Posted on 29 January 2015 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) is planning to invest $500 million in Chinese yuan assets. SOFAZ also is looking to diversify its assets within real estate markets in Asia, the U.S.-Azerbaijan Chamber of Commerce said Monday. “We’ll continue to look at South Korea for properties,” SOFAZ Executive Director Shahmar Movsumov said.
“We’re looking at Japan, Hong Kong, Singapore and China. All the main hubs in Europe are in our agenda. We’re looking for very prime assets, which are intended to actually replace our very low-yield bonds that we have in our portfolio.” China has one of the largest economies on the global stage. The yuan has multiple prospects as an attractive investment currency………………………………………..Full Article: Source

Malaysia’s Khazanah selling Tenaga stake worth up to $454 mln-term sheet

Posted on 29 January 2015 by VRS  |  Email |Print

Malaysian state investor Khazanah Nasional Bhd is selling 112 million shares worth up to $454 million in Malaysia’s largest power group Tenaga Nasional Bhd, according to a term sheet seen by Reuters on Wednesday.
The shares are being priced at between 14.40 and 14.60 ringgit per share, according to the sheet, which is equivalent to a discount of about 1.35 to 2.7 percent to the closing price of Tenaga’s shares on Wednesday………………………………………..Full Article: Source

GIC, MPIC buying 12 hospitals

Posted on 28 January 2015 by VRS  |  Email |Print

Metro Pacific Investments Corp. plans to acquire 12 hospitals this year, which will bring its current network of medical facilities to 20. MPIC, together with GIC, Singapore’s sovereign wealth fund through its private equity arm, announced last year they were looking at opportunities in the healthcare industry in the Asean region while plans were also underway for domestic expansion.
MPIC and GIC earlier signed a definitive partnership agreement to facilitate the further expansion of the hospital group of MPIC………………………………………..Full Article: Source

InMobi in talks with Abu Dhabi Investment Authority, Qatar Investment Authority

Posted on 27 January 2015 by VRS  |  Email |Print

Mobile advertising network InMobi has entered into discussions with several marquee investors including some of the world’s biggest sovereign wealth funds and internet firms, to raise its next significant round of funding. Abu Dhabi Investment Authority (ADIA) and Qatar Investment Authority (QIA) are believed to be among the multiple, blue-chip state-owned funds that have expressed a strong interest in investing in the Bengaluru-based company.
Singapore government-owned investment company Temasek and the state’s sovereign wealth fund GIC, which manage assets of about $223 billion and $315 billion, respectively, have also held talks with the InMobi management, they said………………………………………..Full Article: Source

SOFAZ to invest $500 mln in yuan assets in 2015

Posted on 27 January 2015 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ will invest $500 million in yuan assets in 2015. Meanwhile, it will continue to pursue real estate across Asian markets to diversify its portfolio. “At the end of last year, we approved a quota to invest in the renminbi. We are completing all the necessary paperworks and this year will start investing the whole amount” of $500 million,” the fund’s Executive Director Shahmar Movsumov said in his recent interview, referring to the Chinese Yuan.
China as the second largest economy in the world remains an attractive market for the growing number of foreign investors. Prospects of the Chinese Yuan as an additional investment currency attract considerable interest of various categories of investors, including sovereign wealth funds………………………………………..Full Article: Source

Pluribus Raises $50M with Temasek as New Investor

Posted on 26 January 2015 by VRS  |  Email |Print

Pluribus Networks, the company that brings together computer, network, storage and virtualization into a single, open and programmable SDN platform, announced today that it has raised US$50 million in a Series D round of funding led by Temasek Holdings, an investment company based in Singapore with a net portfolio value of US$177 billion.
“We are excited to have Temasek Holdings, a marquis investment company with global presence, as well as Ericsson, a global player in the telecom and service provider cloud infrastructure segment participate in this investment round in Pluribus Networks,” said Jerry Yang, co-founder of Yahoo!, lead investor of AME Cloud Ventures and the first investor in Pluribus Networks………………………………………..Full Article: Source

GPT Group raises $325m as Singapore’s GIC exits

Posted on 22 January 2015 by VRS  |  Email |Print

The GPT Group has raised $325 million from institutional investors after agreeing to buy back a perpetual note held by its one-time “white knight”, Singaporean sovereign wealth fund GIC. The redemption of the note marks GIC’s exit from the company it aided in November 2008 in the depths of the financial crisis.
The investment has produced handsome returns for GIC, with yesterday’s deal on the note alone reaping the fund $75m. It has also received more than $100m in interest payments over the five years. In May last year, GIC sold its 8 per cent stake in GPT that was then valued at more than $500m………………………………………..Full Article: Source

Temasek To Acquire SVB India Financial

Posted on 22 January 2015 by VRS  |  Email |Print

Temasek Holdings, Singapore government’s global investment arm, is acquiring Mumbai-based venture lender SVB India Finance, an arm of Nasdaq-listed SVB Financial Group, for $46.4 million (about Rs 280 crore). The quasi-management buyout will see the venture lender’s existing India team become shareholders in the re-branded entity that is slated to be created post the completion of the deal.
The deal also creates the country’s second homegrown and independent venture debt player after Delhi-based Trifecta Capital, which recently started raising its debut fund. The timing is opportune given that the venture debt market in India has grown rapidly in the past 12-18 months, in line with the explosive growth of venture capital investments………………………………………..Full Article: Source

SOFAZ investment portfolio hits 28 bln manats

Posted on 22 January 2015 by VRS  |  Email |Print

The predicted cost of the investment portfolio of Azerbaijan’s state oil fund SOFAZ was set at 28.2 billion manats for 2015. On January 19, Azerbaijani President Ilham Aliyev issued a decree approving the main directions (programs) on use of SOFAZ funds for 2015.
Forecasts for 2014 were set at the level of 27 billion manats, 25.2 billion manats in 2013, and 23 billion manats in 2012. “In 2015, SOFAZ will implement an investment policy, which allows obtaining the maximum yield at a low risk of loss of main capital,” the fund said………………………………………..Full Article: Source

Investment portfolio of the State Oil Fund of Azerbaijan for 2015 limited to AZN 28.2 bn

Posted on 22 January 2015 by VRS  |  Email |Print

The major areas (investment program) for the use of the SOFAZ means in 2015 have been approved by the decree on SOFAZ budget issued by Ilham Aliyev, President of Azerbaijan. In accordance with the program, the Fund should pursue the investment policy aimed to get maximum high revenue with minimization of risks from assets loss.
At the same time, the investment portfolio of SOFAZ can be divided into the following components: debt commitments and money market instruments – 80% of funds, stocks – 10%, real estate – 5%, physical gold – 5%. The profitability benchmark for the debt/money component is the rate not lower than LIBOR for 3 months and for the stock component - MSCI World Index………………………………………..Full Article: Source

Telefonica Said to Have Weighed Stake Sale to Qataris

Posted on 22 January 2015 by VRS  |  Email |Print

Telefonica SA (TEF), the Spanish carrier in talks to sell its U.K. mobile-phone business to Hutchison Whampoa Ltd. (13), also considered selling a stake in itself to Qatar’s sovereign-wealth fund to help cut debt, three people with knowledge of the matter said.
Telefonica held talks with Qatar late last year over selling a significant holding to the gas-producing country via a multi-billion-euro capital increase, the people said, asking not to be identified as the discussions are private. Representatives for Telefonica and for Qatar’s sovereign wealth fund declined to comment………………………………………..Full Article: Source

Alitalia chief welcomes possible Abu Dhabi investment in Rome airport

Posted on 21 January 2015 by VRS  |  Email |Print

Alitalia’s chief executive said yesterday that he welcomes a potential acquisition of a stake in Rome’s airport by an Abu Dhabi investment fund. “We are perfectly aware of the ongoing discussions between Abu Dhabi Investment Authority [Adia] and Aeroporti di Roma. Adia is a suitable stakeholder to be involved in these discussions,” said Silvano Cassano, Alitalia’s new chief executive at a joint press conference held by the Italian national carrier and Etihad Airways in Rome.
“We welcome any investment from Adia in Aeroporti di Roma, but of course we consider ourselves spectators.” Adia, however, declined to comment when contacted by The National………………………………………..Full Article: Source

Singapore’s GIC Invests $165 Million in India’s Bandhan

Posted on 21 January 2015 by VRS  |  Email |Print

Singapore’s sovereign-wealth fund, GIC Pte., is planning to invest $165 million in India’s Bandhan Financial Services in a move that will enable the Kolkata-based microfinance company to set up a full-fledged bank.
“I’m very happy because with this money we’ll be able to upgrade our operations,” Bandhan Chairman Chandra Shekhar Ghosh said. Mr. Ghosh said in addition to the GIC investment, Bandhan has also raised about $85 million from the International Financial Corp., the arm of the World Bank which invests in private sector companies in emerging markets………………………………………..Full Article: Source

Temasek trims CCB stake

Posted on 20 January 2015 by VRS  |  Email |Print

Temasek Holdings trimmed its stake in China Construction Bank to cash in HK$354 million last Tuesday, the Singapore government’s investment arm said. The sovereign investor sold 54.38 million H shares in China’s second-largest commercial bank at an average price of HK$6.50, reducing its shareholding in CCB to 5.99 percent from 6.02 percent.
As the world’s 10th biggest sovereign wealth fund, it is also an investor in Industrial and Commercial Bank of China and Standard Chartered. ICBC chairman Jiang Jianqing expects profit growth of mainland banks to slow down to a single digit this year, due to last year’s high base number and China’s economy entering the “new normal” stage of slower growth………………………………………..Full Article: Source

Temasek buys 18% stake in Medanta from Punj Lloyd

Posted on 20 January 2015 by VRS  |  Email |Print

Infrastructure firm Punj Lloyd has sold its entire 17.74 per cent stake in Global Health Pvt Ltd, which owns and runs Gurgaon-based multi specialty hospital Medanta - The Medicity, to Singapore’s state-owned investment firm Temasek, for an undisclosed amount, it said on Monday.
The firm had been looking to sell its stake for a while and previously had indicated it was looking to seal the transaction by June 2014. This stake was valued around Rs 650 crore ($105 million), based on the last transaction in the firm in late 2013. Separate media reports had said that it is worth around Rs 700 crore ($113 million), citing sources………………………………………..Full Article: Source

GIC to invest in Bandhan

Posted on 20 January 2015 by VRS  |  Email |Print

Microfinance entity Bandhan has received an investment commitment from Singapore’s sovereign wealth fund GIC to shore up capital as it looks to start banking operations before September 2015. The Calcutta-based microlender today said its capital base would increase by around Rs 1,700 crore following the investments by GIC and World Bank group member International Finance Corporation (IFC), which already has an equity stake of 10.9 per cent in the company.
Of the Rs 1,700 crore fresh capital infusion, IFC would invest around Rs 580 crore and GIC the rest. The Small Industrial Development Bank of India (Sidbi) also has a 10 per cent stake………………………………………..Full Article: Source

Temasek may buy 18% in Medanta Owner for Rs 700 crore

Posted on 19 January 2015 by VRS  |  Email |Print

Temasek, the Singapore government’s investment company that has $223 billion in assets, is set to acquire a stake of about 18% for nearly Rs 700 crore in Global Health Pvt. Ltd, which owns, manages and operates Medanta hospital in Gurgaon outside Delhi, two people familiar with the matter said.
The Singapore-backed investor is in advanced discussions with Punj Lloyd Ltd, one of the founding promoters of Medanta along with cardiac surgeon Naresh Trehan and Sunil Sachdeva. Punj Lloyd is a Delhi-based diversified engineering and project management company run by Atul Punj. The deal is expected to be announced early this week………………………………………..Full Article: Source

1MDB ‘dirt’ so great even Mideast investors AFRAID for their investments

Posted on 19 January 2015 by VRS  |  Email |Print

Mounting troubles at Malaysia’s government-owned strategic investment company 1Malaysia Development Berhad, or 1MDB, which has a focus on promoting foreign direct investment in Malaysia, have caused alarm bells ringing for two of its main investment partners from the Middle East, the Qatar Investment Authority and Abu Dhabi’s Aabar Investment.
1MDB was up in 2009 by Malaysian Prime Minister Najib Razak “to drive strategic initiatives for long-term economic development” in Malaysia and has been focused on development projects in the areas of energy, real estate, tourism and agribusiness. But lately more on high-profile projects which came under fire from opposition politicians and media such as the Tun Razak Exchange, a new financial district in Kuala Lumpur named after Najib Razak’s father and partly funded by Aabar, and the 200-hectare Bandar Malaysia project, an integrated urban development also in Kuala Lumpur, of which one of the partners is the QIA………………………………………..Full Article: Source

Khazanah Hospital Unit Said to End Plans to Buy Medicana Stake

Posted on 16 January 2015 by VRS  |  Email |Print

Turkey’s biggest hospital chain dropped talks to buy a stake in rival Medicana Saglik Grubu, two people with knowledge of the matter said. Acibadem Saglik Hizmetleri ve Ticaret AS, controlled by Malaysian state-investment company Khazanah Nasional Bhd, and Huseyin Bozkurt, chairman and owner of the Medicana group, decided to end a due-diligence process that began in September, the people said, asking not to be identified as the matter is confidential.
Medicana will instead grow by building hospitals or investing in Turkey and abroad, one of the people said. Turkey’s health-care industry offers greater potential for growth than other developed economies………………………………………..Full Article: Source

Legal & General could invest with foreign partners in British infrastructure-CEO

Posted on 15 January 2015 by VRS  |  Email |Print

Legal & General (L&G) is keen to invest in British property and infrastructure together with overseas sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA), the UK insurer’s chief executive said on Wednesday. L&G’s $1.1 trillion in assets under management and investment in housing and transport schemes mean it wants to be seen as a sovereign wealth fund for Britain, CEO Nigel Wilson told Reuters in an interview.
ADIA, one of the world’s largest sovereign wealth funds, manages the surpluses of Abu Dhabi’s earnings from oil exports. It doesn’t disclose the value of its assets under management but is estimated to hold nearly $800 billion by the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Khazanah to continue invest overseas but will not neglect domestic market

Posted on 15 January 2015 by VRS  |  Email |Print

Khazanah Nasional Berhad will continue to invest overseas pending clarification of a directive for government agencies and companies to spend their money in Malaysia. The sovereign wealth fund, however, stressed that it would not neglect the domestic market and that it was ready to play a role in investing in the national economy.
Khazanah managing director Tan Sri Azman Mokhtar said at the same time, it was still not clear whether the directive, which had reportedly been issued by the Treasury, was applicable to Khazanah, since it is a company and not a statutory agency strictly bound by government directives………………………………………..Full Article: Source

Khazanah reaps $1bn from Alibaba investment

Posted on 15 January 2015 by VRS  |  Email |Print

Khazanah, Malaysia’s sovereign wealth fund, reaped more than $1bn from investing in Alibaba ahead of the Chinese e-commerce group’s stock market flotation last year, in a sign of how big Asian investors have cashed in on what remains the world’s biggest initial public offering to date.
The disclosure, made by Khazanah as it reported its financial performance for 2014, came as the fund said it would be ramping up investments in the US tech sector, after opening an office in San Francisco in 2013………………………………………..Full Article: Source

Norwegian wealth fund bolsters Aviva bid

Posted on 14 January 2015 by VRS  |  Email |Print

The world’s largest sovereign wealth fund has thrown its weight behind Aviva’s planned acquisition of Friends Life, buying about £100m worth of shares in the two FTSE 100 insurers since the £5.1bn deal was unveiled. Norway’s $860bn oil fund has joined the ranks of Friends Life’s 10 largest shareholders after increasing its stake in the takeover target by 70 per cent, according to regulatory filings.
The institution has also increased its stake in Aviva, which has struck an agreement with Friends to do the biggest deal in the UK insurance sector in 15 years, by more than half………………………………………..Full Article: Source

Temasek eyes fan business of Crompton Greaves

Posted on 14 January 2015 by VRS  |  Email |Print

Singapore investor Temasek Holdings has emerged as frontrunner to buy a $200-million stake in the about to be demerged consumer products business of CromptonGreaves, controlled by billionaire GautamThapar, according to multiple sources directly familiar with the matter. Temasek and Crompton Greaves’ promoter have entered into exclusive negotiations, taking the former ahead of rival offers from General Atlantic Partners and Bain Capital, which valued the consumer products division at $900 million.
Crompton Greaves’ consumer unit makes fans, appliances, luminaires, home automation and integrated security systems. It reported a revenue of Rs 748 crore in the fiscal 2014 with operating profit estimated at 11.8%………………………………………..Full Article: Source

1MDB subsidiary borrowed RM4 billion to invest in non-existent Mongolian venture, says Rafizi

Posted on 14 January 2015 by VRS  |  Email |Print

Government-linked strategic investment company 1Malaysia Development Berhad (1MDB), through its subsidiary, had borrowed RM4 billion from the Retirement Fund Incorporated (KWAP), PKR’s Rafizi Ramli revealed today.
He said the RM4 billion loan taken by the controversial sovereign fund’s subsidiary, SRC International Sdn Bhd, in 2011 was to purchase a mining company in Mongolia. However, the PKR secretary-general said his investigations into the matter revealed that the said company did not exist, raising questions on where the money was actually spent………………………………………..Full Article: Source

GIC sells its stake in Pakuwon Jati

Posted on 13 January 2015 by VRS  |  Email |Print

The Government of Singapore Investment Corporation, better known as GIC, sold its 4.9% stake in high-flying Indonesian real estate firm Pakuwon Jati for almost $90 million on Monday. The sovereign wealth fund sold 2.36 billion shares at IDR478 per share, at the bottom end of its targeted range and an 8.1% discount to Friday’s closing price of IDR520 per share.
The secondary share placement was offered at an indicative price range of between IDR478 to IDR494 per share. A number of Pakuwon Jati’s existing shareholders were quick to place orders as they looked to boost their stakes despite a sizzling runup in the company’s valuation, according to a source close to the deal………………………………………..Full Article: Source

Qatar Invests in Egypts Tourism Sector

Posted on 13 January 2015 by VRS  |  Email |Print

Diar (QD) is one of the major real estate companies in Qatar, belonging to the Qatari Investment Authority (QIA). The company was founded in 2005 to support the country’s growing economy and to implement real estate development projects inside and outside Qatar.
QIA is a sovereign wealth fund that serves local and foreign investments. It was established by the Qatari Government in 2005 to manage the surpluses of oil and natural gas. QIA’s assets range between 100bn and 200bn. As of January 2012, Qatari Diar is capitalised at 4bn and has more than 49 projects under development or planning in Qatar and in 29 countries around the world, with a combined value of over 35bn………………………………………..Full Article: Source

Kuwait announces $155bn infrastructure spree despite low oil prices

Posted on 13 January 2015 by VRS  |  Email |Print

Kuwait’s government on Sunday announced plans to spend 45.5 bn dinars ($155 bn) on projects over the next five years despite the plunge in world oil prices, a lawmaker said.
Parliament’s financial and economic affairs committee was assured that the sharp drop in oil revenues would not affect the projects of Kuwait, which has a massive sovereign wealth fund and invested billions of dollars in a “future generations fund”………………………………………..Full Article: Source

Wealth fund bill limits investments, withdrawals

Posted on 08 January 2015 by VRS  |  Email |Print

The tabling of the Sovereign Wealth Fund Bill 2014 and Petroleum Bill 2014 in December 2014 have brought a sovereign wealth fund (SWF) one step closer to becoming a reality in The Bahamas.
The 2014 SWF bill lays the foundation for restrictions on investments and withdrawals from the fund, with measures to minimize opportunities for corruption through insider investment. Under the bill, up to 10 percent of the SWF may be invested in any international debt security of the government, which must be “highly rated by at least two international credit ratings agencies.”……………………………………….Full Article: Source

Sovereign-Wealth Funds Went Full Steam Ahead Direct Investing in 2014

Posted on 07 January 2015 by VRS  |  Email |Print

Sovereign-wealth funds have been an increasingly aggressive force in the merger and acquisition arena by making multibillion-dollar acquisitions on their own as opposed to paying fees for others to invest on their behalf. These investment institutions also have been active funding startups, helping to drive valuations of some of the most sought-after new businesses, according to a report from research and consulting firm Sovereign Wealth Fund Institute Inc.
Among the most noteworthy startup funding by a wealth fund is Singapore’s GIC Private Ltd .’s investment in Chinese smartphone maker Xiaomi Corp., which raised more than $1 billion in a December round of funding. That round, led by tech investment fund All-Stars Investment with participation from GIC and others, values Xiaomi at more than $45 billion, making it one of the highest valued startups of all times………………………………………..Full Article: Source

Sydney’s Westin hotel put up for sale by Singapore’s GIC Private

Posted on 06 January 2015 by VRS  |  Email |Print

Singapore’s GIC Private is selling the Westin Sydney on Martin Place, with hopes international interest could push the value of the hotel past $400 million.The sale process follows a flurry of activity in prime hotel space over the past 12 months including the sale of the larger Sheraton on the Park for $463 million. JLL Hotels is handling the sale and declined to comment.
GIC, a sovereign wealth fund formerly known as the Government of Singapore Investment Corporation, purchased the famed Sydney hotel in 2002 for $160 million as it looked to build up its Australian property portfolio………………………………………..Full Article: Source

Russian crisis money for Yamal

Posted on 06 January 2015 by VRS  |  Email |Print

Among his last government decisions in 2014, Prime Minister Dmitry Medvedev approved Novatek’s application for state support to Yamal LNG developments. In a decree signed 27 December, the premier allocates 150 billion roubles (€2,1 billion) from the National Wealth Fund to the project.
The money will allow Novatek to continue its development of the Yamal LNG, a grand energy and infrastructure project on Russia’s Arctic Yamal Peninsula. When in full swing, the Yamal LNG plant will have the capacity to produce an annual 16,5 million tons of LNG, all of it extracted at the nearby South Tambey field. The project also includes the development of the Sabetta port, a major infrastructure hub on the eastern shore of the peninsula………………………………………..Full Article: Source

Bahraini fund Mumtalakat signs deal for $500m loan

Posted on 05 January 2015 by VRS  |  Email |Print

Bahraini sovereign fund Mumtalakat has signed a $500 million, five-year loan with a group of banks, sources aware of the matter said on Sunday, with the cash to be used for general business purposes and to refinance existing debt.
The loan is being provided by the same banks which arranged a sukuk issue by the fund in November: Bank of Tokyo-Mitsubishi , BNP Paribas, Deutsche Bank and Standard Chartered, as well as local institutions Arab Banking and National Bank of Bahrain. Signed just before the end of 2014, the loan is structured as a revolving credit facility………………………………………Full Article: Source

NZ Super Fund to buy RetireAustralia

Posted on 05 January 2015 by VRS  |  Email |Print

The New Zealand Superannuation Fund (NZ Super Fund), the country’s NZ$27 billion (US$20.93 billion) sovereign wealth fund (SWF), is to acquire retirement housing provider RetireAustralia for A$640.2 million (US$521.16 million) via a joint venture (JV). The JV is 50% owned by NZ Super Fund and 50% by infrastructure firm Infratil, and each will stump up A$214.8 million in cash equity for the purchase, with the balance funded by existing bank debt on RetireAustralia’s balance sheet.
According to a presentation document released by NZ Super Fund to investors, the purchase will be made from JP Morgan Global Special Opportunities Group and Morgan Stanley Real Estate Investing. The acquisition will fall under NZ Super Fund’s private equity investments………………………………………Full Article: Source

Top 10 Largest Sovereign Wealth Fund Direct Deals for 2014

Posted on 02 January 2015 by VRS  |  Email |Print

Asian and Gulf-based sovereign wealth funds are the biggest SWF spenders when it comes to private direct deals in 2014. Other notable public institutional investors who rank near the top, based on transaction value, include Caisse de dépôt et placement du Québec(CDPQ) and Canada Pension Plan Investment Board (CPPIB). The crown, however, goes to Singapore’s Temasek Holdings for participating in the largest direct sovereign wealth fund transaction in 2014. The Singaporean sovereign fund invested US$ 5.7 billion for a 25% stake in A.S. Watson.
The health and beauty retailer is owned by Hutchinson Whampoa Limited. Other major direct transactions include Singapore’s GIC investment in Chicago-based IndCor Properties, picking up a 45% stake from funds affiliated with Blackstone Real Estate Partners VI & VII. 4 out of the top 10 direct transactions had a real estate component to them. For 2014, over US$ 5 billion has been spent on direct United Kingdom real estate properties from sovereign wealth funds………………………………………..Full Article: Source

Abu Dhabi SWF to Invest $500 Mil. in Korean Value Stocks

Posted on 02 January 2015 by VRS  |  Email |Print

The Abu Dhabi Investment Authority will invest US$500 million in Korea’s value stocks. According to financial investment sources on December 24, the sovereign wealth fund is currently selecting a consignment management firm for such purposes.
The three mostly likely candidates are Korea Investment Value Asset Management, AssetPlus Investment Management and Shinyoung Asset Management. The actual consignment is likely to be made by the first quarter of next year. Earlier in June and December last year, the investment authority had consigned $500 million each to Truston Asset Management and Samsung Asset Management for growth stocks and index fund investment………………………………………..Full Article: Source

GIC, Temasek keener on Americas this year

Posted on 02 January 2015 by VRS  |  Email |Print

The past year was a busy one for Singapore’s sovereign wealth fund GIC and investment company Temasek Holdings. Indeed, it was a banner year for deal makers worldwide. With borrowing costs still low, the global economy gradually recovering and corporate valuations at attractive levels, global cross-border merger and acquisition activity hit a six-year high, according to research firm Dealogic.
GIC and Temasek were in the thick of the action, with both making more investments, especially in sectors such as technology, real estate and consumer goods and services………………………………………..Full Article: Source

Malaysian fund invests in BDO

Posted on 02 January 2015 by VRS  |  Email |Print

SM Investments Corp., the holding company of tycoon Henry Sy, sold a 2-percent stake in banking subsidiary BDO Unibank Inc. to Malaysia’s sovereign wealth fund Khazanah Nasional Bhd. SM Investments said in a disclosure to the stock exchange subsidiary Multi-Realty Development Corp. sold the 2-percent stake in BDO to Pulau Kaca Investments Ltd., a unit of Khazanah Nasional.
Multi-Realty Development, prior to the transaction, owned 315.302 million shares in BDO, representing an 8.81-percent interest in the bank as of end-September 2014. Khazanah Nasional is the government of Malaysia’s strategic investment fund………………………………………..Full Article: Source

China’s Xiaomi raises $1.1 bln from investors at $45 bln valuation

Posted on 02 January 2015 by VRS  |  Email |Print

China’s Xiaomi Inc, one of the world’s fastest-growing smartphone makers, has raised $1.1 billion in a round of funding that cements its status as one of the world’s most valuable private technology companies at a valuation of $45 billion.
Investors include private equity funds All-Stars Investment, DST Global, Hopu Investment Management, and Yunfeng Capital, as well as Singapore sovereign wealth fund GIC, Chief Executive Lei Jun said Monday on Weibo, confirming earlier media reports………………………………………..Full Article: Source

NZ super fund nets RetireAustralia in $640m deal

Posted on 02 January 2015 by VRS  |  Email |Print

Australia’s fourth-largest retirement village operator, Retire­Australia, has been bought by Wellington-based infrastructure group Infratil and Kiwi sovereign wealth fund New Zealand Superannuation Fund in a deal that values the company at $640 million.
The sale provides RetireAustralia’s previous owners, Morgan Stanley and JPMorgan, with a long-awaited exit from the vehicle they ended up owning after a recapitalisation deal in 2012. Morgan Stanley and JPMorgan had been planning to list ­RetireAustralia on the ASX earlier this year but the float fell apart after the company’s investment banking owners failed to agree on pricing with brokers………………………………………..Full Article: Source

Singapore’s GIC expected to invest in China-based Xiaomi

Posted on 23 December 2014 by VRS  |  Email |Print

China’s Xiaomi is raising over US$1 billion (RM3.48 billion) from investors including Singapore sovereign wealth fund GIC that would value the smartphone maker at over US$45 billion, a person familiar with the deal said.
The fund raising was first reported by the Wall Street Journal, which also said this round was led by tech fund All-Stars Investment and included Russian tech fund DST Global and Yunfeng Capital, a private-equity firm affiliated with Alibaba Group Holding Ltd Executive Chairman Jack Ma………………………………………..Full Article: Source

Mumtalakat has ‘appetite and funds for investment’

Posted on 23 December 2014 by VRS  |  Email |Print

Bahrain’s sovereign wealth fund Mumtalakat has appetite and funds available for investment, its top official has said. Chief executive Mahmood Al Kooheji said he expects next year to be positive for the GCC region, Bahrain and the company which will build on continuing good performance of its portfolio companies, said a report.
“We continue to take a prudent approach to new investments and constantly monitor our assets and will consider new investments to expand the portfolio and monetisation initiatives if and when appropriate,” Al Kooheji said………………………………………..Full Article: Source

Xiaomi mobilises more than $1 bn in funding

Posted on 22 December 2014 by VRS  |  Email |Print

China’s top smartphone seller Xiaomi Corp. is raising more than USD 1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion. It was being led by tech investment fund All—Stars Investment and also involved were current shareholders Russian investment firm DST Global and Singapore sovereign—wealth fund GIC, the report said.
Private—equity firm Yunfeng Capital which is affiliated with Alibaba Group Holding Ltd. chair Jack Ma, was also taking part………………………………………..Full Article: Source

Angola Sovereign Fund invests in building hotel academy in Benguela

Posted on 19 December 2014 by VRS  |  Email |Print

The Angola Sovereign Fund (FSA) announced that it plans to invest in setting up an academy for training in the hotel business, in Benguela, which should start operating at the end of 2015.
The President of the Board of Directors of the FSA, José Filomeno dos Santos said, as he launched the project in the city on the south coast of Angola, that the Angolan Hospitality Management Academy would be partnered by Lausanne Hospitality Consulting (LHC) and Ecole Hoteliere of Lausanne (EHL)………………………………………..Full Article: Source

Norway Central Bank to Decide Oil Fund Exclusions

Posted on 19 December 2014 by VRS  |  Email |Print

Norway’s government said Thursday that from Jan. 1 the central bank will take over deciding which companies to exclude from the portfolio of the country’s sovereign-wealth fund and that it would no longer have the final word. “The changes in the governing documents are a result of a long-term effort to strengthen the work on responsible investment management in the fund,” Finance Minister Siv Jensen said.
Ms. Jensen said the government wanted “better interaction” between the $845 billion fund’s use of ownership power and the exclusion mechanism. The government has previously said it wants to avoid speculation that the fund is used for political means………………………………………..Full Article: Source

Qatar Investment Authority picks up $150 Million stake in Flipkart

Posted on 19 December 2014 by VRS  |  Email |Print

Qatar Investment Authority (QIA) has picked up a $150-million stake in India’s e-commerce poster boy Flipkart, which closed a $700-million fund-raising on Wednesday, sources directly involved with the matter said.
QIA is the new investor buying into Flipkart, valued at around $11 billion, taking it among the top five privately held technology startups in the world. TOI had earlier reported that existing investors had committed $500-600 million in fresh financing………………………………………..Full Article: Source

Adyen raises S$326m in new funds from investors

Posted on 18 December 2014 by VRS  |  Email |Print

Adyen, a payments processor, has raised US$250 million (S$326 million) in new funds from a group of investors including Singapore’s Temasek Holdings, global growth equity investor General Atlantic, Index Ventures and Felicis Ventures. This is one of the largest amounts raised so far this year in the sector.
Adyen, a start-up based in Amsterdam, said it plans to use the new funds to expand globally, in particular in North America and the Asia Pacific. The firm serves as a middleman for websites such as Facebook, Spotify, Airbnb and other merchants, enabling them to accept credit card payments, as well as transactions in nearly 187 currencies………………………………………Full Article: Source

Russian oil major Rosneft to get aid from Welfare Fund for at least 2 projects — CEO

Posted on 17 December 2014 by VRS  |  Email |Print

The Russian government will support at least two out of oil major Rosneft’s seven projects for financing from the National Welfare Fund, Rosneft CEO Igor Sechin said on Tuesday.
“We have submitted the list of projects to the government and we know that a number of the projects will be supported,” Sechin said. Rosneft will not give up the proejcts that will be financed from the National Welfare Fund, he added…………………………………..Full Article: Source

China: CIC’s opaque offshore investment plans

Posted on 17 December 2014 by VRS  |  Email |Print

In early September, Li Jiange, the vice-chairman of Central Huijin Investment, said something rather puzzling while speaking at a banking conference in Germany. “When we invest in China, efficiency and investment return has gone down,” he said, through a translator. “If we can then expand abroad, then we are highly interested in looking into European banks.”
It may not sound much, but it was an important statement. Central Huijin is a unit of China’s $653bn sovereign wealth fund, China Investment Corp. CIC is powerful but opaque. Outside asset managers find its inner workings and objectives difficult to fathom…………………………………..Full Article: Source

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