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Billions at risk if tax act amended to allow investment panel, says PKR lawmaker

Posted on 13 June 2014 by VRS  |  Email |Print

Billions of taxpayers’ money are at risk of being used to buy stocks, bonds, debts and properties under a proposed amendment to a tax law allowing for an investment panel that could be as secretive as 1MDB, PKR lawmaker Wong Chen (PKR- Kelana Jaya) said.
“What if our tax money is used to buy shares to support and prop up a crony company? What if the investment panel decides to support the opaque and questionable 1MDB listing?” he said in referring to state-owned sovereign fund which is planning to raise US$4.6 billion (RM15 billion) through an initial public offering of its power-generation assets………………………………………..Full Article: Source

Russian National Welfare Fund assets may be invested in gas pipeline to China

Posted on 12 June 2014 by VRS  |  Email |Print

Russia’s National Welfare Fund assets may be invested in the construction of a gas pipeline to China, Minister of Economic Development Alexei Ulyukayev said on Wednesday, June 11. “This is probably not a net increase in the authorized capital of Gazprom but this may be a contribution to an SPV [special purpose vehicle] to be created by Gazprom,” he said.
National Welfare Fund’s assets can already be invested in preferred stock. “We have already made the decision to make a contribution to Russian Railways’ capital,” he added………………………………………..Full Article: Source

Azerbaijan sovereign wealth fund eyes renminbi-denominated assets

Posted on 12 June 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan intends to begin buying renminbi-denominated assets by the end of the year, subject to approval from Chinese regulators, Shahmar Movsumov, chief executive of the $37bn sovereign wealth fund, has said.
The move is part of a strategy the fund finalised at the end of last year to diversify beyond its traditional holdings of dollar- and euro-denominated fixed income, by boosting exposure to currencies other than the greenback, euro and pound from 5% to 10%, Movsumov told the Financial Times………………………………………..Full Article: Source

Azerbaijan Invests Big in CNY Assets

Posted on 12 June 2014 by VRS  |  Email |Print

Azerbaijani sovereign wealth fund planned to invest at most USD 1.8 billion in CNY assets in 2014, being one of the biggest open investments in CNY assets.
CEO of State Oil Fund worth USD 37 billion revealed that the fund is applying to Chinese government regulators for license to buy CNY assets. Investment will be started by the end of 2014 at the latest. The fund will use all the money it has this year to invest in CNY assets………………………………………..Full Article: Source

Indonesian coal miner Bumi gets lender approval for CIC deal

Posted on 12 June 2014 by VRS  |  Email |Print

Indonesian coal miner PT Bumi Resources said on Wednesday its lenders had agreed to close a crucial debt-to-equity swap with Chinese sovereign wealth fund CIC, enabling it to pay the coupon on its 2016 bonds.
In October, CIC agreed to convert the $1.3 billion debt it was owed by Bumi Resources into stakes in the Indonesian company and associated subsidiaries………………………………………..Full Article: Source

Azerbaijan’s sovereign wealth fund to invest up to $1.8bn in renminbi

Posted on 11 June 2014 by VRS  |  Email |Print

Azerbaijan’s sovereign wealth fund plans to invest up to $1.8bn in renminbi this year, in what would be one of the largest investments in the Chinese currency to be made public – and a further indication of its rapid move towards reserve currency status.
Shahmar Movsumov, chief executive of the $37bn State Oil Fund of Azerbaijan (Sofaz), told the Financial Times that the fund was applying for permission from Chinese regulators to access renminbi assets and hoped to start investing in the currency by the end of the year………………………………………..Full Article: Source

Wealth funds move steadily into Indian equities since Dec-end

Posted on 11 June 2014 by VRS  |  Email |Print

Pension funds and sovereign wealth funds’ holdings of Indian equity have increased by Rs 23,758 crore since the beginning of the calendar year, in anticipation of improving economic fundamentals and a stable government at the Centre. The total assets with these two segments rose from Rs 2.18 lakh crore in December 2013 to Rs 2.42 lakh crore in the latest available data from the stock market regulator.
Both sovereign wealth funds and pension funds are seen to be relatively stable long-term investors. An increased proportion of such funds are perceived to bring greater stability to markets because they do not generally move in and out for short-term gain………………………………………..Full Article: Source

In 2013, Norway Government Pension Fund Investment in Israeli Stock Market Rose 43% to $1 Billion

Posted on 11 June 2014 by VRS  |  Email |Print

The Government Pension Fund of Norway, the largest sovereign wealth fund in the world, has increased its position in shares of Israeli companies, adding five new companies to a portfolio of 62 stocks valued at a billion dollars (NIS 3.5 billion) on the Tel Aviv Stock Exchange, Israel’s Globes business daily reported on Tuesday.
In 2013, the value of its investment in companies traded on the TASE rose by 43 percent in nominal terms, from NIS 2.4 billion to nearly NIS 3.5 billion, Globes said. “Even discounting the boom on the stock exchange, the rise is impressive: the fund’s proportionate holding in shares on the Tel Aviv 100 list grew by 21% last year, exceeding 0.5% of the total of shares listed,” the newspaper said………………………………………..Full Article: Source

Mubadala Development Co beefs up Tabreed stake

Posted on 11 June 2014 by VRS  |  Email |Print

Mubadala Development Company has taken a greater slice of National Central Cooling Company (Tabreed) after converting bonds into equity. The Abu Dhabi state investment fund has turned AED 134mn ($36.5mn) worth of bonds into close to 80 million new shares.
Tabreed’s outstanding number of shares now stands at 738.5 million following the exercise, according to a statement to the Dubai Financial Market. The conversion price is AED 1.6856 per share, which was the agreed upon price at the time of the issuance of the bonds. Mubadala is currently the biggest shareholder in Tabreed with a 14.3% stake………………………………………..Full Article: Source

Mubadala seeks to exit Nigeria’s telecoms market

Posted on 10 June 2014 by VRS  |  Email |Print

Mubudala, Abu Dhabi’s sovereign wealth fund, is keen on negotiating an exit from Nigerian telecommunications operator EMTS, in which it holds a 30-percent stake, according to TMTFinance. This move by the fund may be linked to recent reports that investor confidence in the country’s highly competitive telecoms market is dipping due to perceived structural defects in the market and a harsh operating environment.
Industry watchers say this does not bode well for long-term growth and sustainability of the telecoms industry. Mubadala could be seeking new pastures, cashing in on a telecoms industry increasingly facing higher operating costs, dwindling revenue per user and investor pullback, according to industry watchers………………………………………..Full Article: Source

Samruk Kazyna to launch $26 bln worth of projects within 3 years

Posted on 06 June 2014 by VRS  |  Email |Print

Kazakhstan’s Samruk-Kazyna Wealth Fund is planning to commission dozens of projects totally worth $26 billion within the next 3 years, Tengrinews reports citing the Fund’s senior director for business development and a member of the Management Board Berik Beisengaliyev.
Samruk-Kazyna is a state-run holding in Kazakhstan that owns, either in whole or in part, many important companies in the country, including the national rail and postal service, the state oil and gas company KazMunayGas, the state uranium company Kazatomprom, Air Astana, and numerous financial groups. Samruk-Kazyna controls $78 billion in assets, or nearly 56% of the GDP……………………………………….Full Article: Source

GIC in $944 million joint deal to buy software firm

Posted on 06 June 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC and a New York-based private equity firm will acquire US plagiarism detection software maker iParadigms for US$752 million (S$944 million), the firms said.
A GIC spokesman declined to disclose GIC’s stake in the venture or its investment amount. It is the fund’s third US deal this year, after its investment in human resource software firm Kronos Inc and Time Warner Centre in New York. In a joint statement, GIC and Insight Venture Partners said the deal will likely close this third quarter. Private equity firm Warburg Pincus has been a majority owner in iParadigms since 2008………………………………………..Full Article: Source

More Direct Sovereign Wealth Money Pouring Into BRIC Countries

Posted on 06 June 2014 by VRS  |  Email |Print

Sovereign wealth funds are plowing more money into (Brazil, Russia, India and China) BRIC nations, despite economic and political headwinds in emerging markets. Proprietary data from the Sovereign Wealth Fund Institute shows that more direct sovereign fund investment for 2014 is funneling into BRIC countries compared to similar quarters in 2013.
According to the Sovereign Wealth Fund Transaction Database, for the first two quarters of 2013, about US$ 4.37 billion of direct sovereign wealth fund investment was allocated toward BRIC countries. For the first two quarters of 2014, BRIC countries received about US$ 4.62 billion. Furthermore, second quarter figures for 2014 are not fully counted for in the database. The 5.7% increase in BRIC direct sovereign wealth fund investment from those similar quarters indicates that sovereign funds remain tepidly optimistic in these dynamic growth markets……………………………………….Full Article: Source

World’s Biggest Wealth Fund Escapes Flash Boys in IEX Dark Pool

Posted on 05 June 2014 by VRS  |  Email |Print

Norway’s $880 billion sovereign wealth fund, the world’s largest, is throwing its support behind Brad Katsuyama’s new exchange. Katsuyama’s IEX Group Inc., made famous inMichael Lewis’s best-selling book “Flash Boys,” could shield investors from the predatory habits of high-frequency traders, said the fund, which holds $521.2 billion in stocks globally and is Europe’s biggest equity investor.
“IEX is a trading venue where all players participate on the same terms,” oil fund spokesman Thomas Sevang said in an e-mailed response to questions. “We support this.”……………………………………….Full Article: Source

YTL Corp Urges Asian Sovereign Wealth Funds To Invest 30 Per Cent In Infrastructure

Posted on 04 June 2014 by VRS  |  Email |Print

YTL Corp Bhd’s Group Managing Director Tan Sri Dr Francis Yeoh Sock Ping has called for at least 30 per cent of sovereign wealth funds in Asia to be invested for infrastructure development. The move will help Asian countries provide efficient infrastructure to the people at the right price as well as boost national productivity.
However, he said most Asian countries did not produce the right amount of infrastructure as they should despite the growing wealth and high level of savings. The local government, he said, is currently making sure that the productivity towards infrastructure is being done, such as airport and railways, in order to cater to the increasing demand from consumers………………………………………..Full Article: Source

Watsons sells 25% stake to Singapore’s Temasek

Posted on 04 June 2014 by VRS  |  Email |Print

Hong Kong business tycoon Li Ka-shing has sold a nearly 25% stake in Hutchison Whampoa’s Watsons to Temasek Holdings of Singapore for HK$44 billion (US$5.5 billion) after speculation arose that the beauty retailer was planning to go public this year.
The Watsons deal for a 24.95% stake was equivalent to the current market valuation of HK$176.4 billion (US$22.8 billion), which was lower than the market expectation, however, the Watsons spinoff may result in a higher-value public listing………………………………………..Full Article: Source

Singapore’s GIC buys stake in anti-plagiarism software maker

Posted on 04 June 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC and a US-based private equity firm will acquire anti-plagiarism software maker iParadigms for USD 752 million, the firms said Tuesday. Oakland, California-based iParadigms makes the cloud-based software Turnitin, which is used by universities around the world to review submitted works for plagiarism and accurate citations.
In a joint statement, GIC and New York-based Insight Venture Partners said the deal to acquire iParadigms will likely close in the third quarter of 2014, but did not give a breakdown of the investment………………………………………..Full Article: Source

GIC and partner buy US educational technologies provider

Posted on 03 June 2014 by VRS  |  Email |Print

Sovereign wealth fund GIC has tied up with private equity firm Insight Venture Partners to buy iParadigms, which provides cloud-based educational technologies to prevent plagiarism, verify content, and evaluate student learning.
GIC and Insight Venture Partners will pay US$752 million (S$944 million) for California-headquartered iParadigms, the company said on Tuesday. iParadigms’ flagship product is Turnitin, which is used by over 24 million students and 1.6 million educators at 10,000 institutions worldwide. It has also created iThenticate, a content verification service for research, corporate and government users………………………………………..Full Article: Source

Penang signs with Temasek to set up RM11.3b SSO hub

Posted on 03 June 2014 by VRS  |  Email |Print

Penang Development Corp (PDC) has signed an agreement with Singapore’s Temasek Holdings to establish a RM11.3 billion gross development value shared services hub in Bayan Lepas and Batu Kawan, according to InvestPenang director Datuk Lee Kah Choon.
Lee said PDC will make way for the setting up of a Business Process Outsourcing (BPO) Prime office building at the current 2.7 hectare site (ha) and the Penang International Technology Park will be developed on a 80ha site at the mainland………………………………………..Full Article: Source

Sovereign funds of Russia and Azerbaijan begin co-financing

Posted on 03 June 2014 by VRS  |  Email |Print

Russia is ready to increase investments in the Azerbaijani economy. Today in Baku Economic Development Minister Alexei Ulyukayev has stated that Russia is going to invest in Azerbaijan in such projects as wagon-production, oil production and oil transportation equipment, creation of logistics centers.
“From the Azerbaijani side investments are planned in the logistics sector, in particular, in the logistics center in Yekaterinburg. We’ve already discussed the use of the opportunities of sovereign funds, in particular the State Oil Fund of Azerbaijan (SOFAZ) and the National Welfare Fund of Russia, Azerbaijan Investment Company and the Russian Direct Investment Fund for co-investing in mutually beneficial projects, opening in Azerbaijan,” the Russian minister said………………………………………..Full Article: Source

Azerbaijan, Russia view opportunities in co-investment sphere

Posted on 03 June 2014 by VRS  |  Email |Print

Azerbaijan and Russia are viewing opportunities in the sphere of co-investment in mutually beneficial projects, Russian Economic Development Minister Alexei Ulyukayev told reporters in Baku on June 2.
“During a meeting with my Azerbaijani counterpart, Shahin Mustafayev, we discussed a wide range of issues, including the possibility of co-investing by Azerbaijan’s State Oil Fund (SOFAZ) and Russian National Welfare Fund, as well as Azerbaijan’s investment company and Russian Direct Investment Fund in projects of mutual interest,” the minister said………………………………………..Full Article: Source

Chinese SWFs need co-investors

Posted on 02 June 2014 by VRS  |  Email |Print

China’s biggest sovereign wealth funds need, and want, co-investment opportunities in real assets and private equity and are open to new partnerships with international investors of the right credentials, and the longer term the partnership the better.
This is the feedback of Michael Wadley, a specialist lawyer of Australian origin based in Shanghai, who runs a consultancy advising both domestic and foreign investors on acquisitions, tax and compliance. The need for such partnerships is not just because of the way these funds have grown in line with the relentless rise in the Chinese economy since 1998, but to their high weighting to overseas assets in mining, real estate, infrastructure and private equity…………………………………..Full Article: Source

Mozambique wants to do investment differently

Posted on 02 June 2014 by VRS  |  Email |Print

Mineral-rich Mozambique is considering the establishment of a sovereign wealth fund, the country’s finance minister said. “We think it’s a good idea,” Manuel Chang told AFP on the sidelines of an International Monetary Fund (IMF) conference on Africa.
“But we won’t do what others have done,” he added, suggesting Mozambique would not rush into creating the fund given other pressing demands that will require huge injections to fix, such as the infrastructure. An estimated $10-billion in foreign investments are expected to flow into the southern African country once a natural gas processing plant is built on its northern coast…………………………………..Full Article: Source

GIC to sell Florida golf property

Posted on 30 May 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC is planning to sell the Great White Course, a 53ha Greg Norman-designed golf property adjacent to the luxury Trump National Doral Miami resort that may fetch US$200 million (S$250 million) as real estate prices surge in southern Florida.
GIC hired CBRE to market the course, which it bought in February last year as part of its US$1.5 billion acquisition of bankrupt resorts owned by a group led by hedge fund Paulson & Co. The land has permits for residential, office and retail development, said CBRE vice-chairman Robert Given and senior vice-president Gerard Yetming………………………………………..Full Article: Source

GIC to Sell Florida Golf Course Bought From Paulson Group

Posted on 29 May 2014 by VRS  |  Email |Print

Singapore’s GIC Pte is planning to sell the Great White Course, a 130-acre golf property adjacent to Trump National Doral Miami that may fetch $200 million as real estate prices surge in southern Florida.
The sovereign wealth fund hired CBRE Group Inc. to market the course, which it bought in February 2013 as part of its $1.5 billion acquisition of bankrupt resorts owned by a group led by hedge fund Paulson & Co. The land has permits for residential, office and retail development, according to CBRE Vice Chairman Robert Given and Senior Vice President Gerard Yetming……………………………………….Full Article: Source

Singapore fund firms outline RQFII plans

Posted on 28 May 2014 by VRS  |  Email |Print

Fullerton Fund Management and Nikko Asset Management Asia have become the first Singapore-based fund firms to receive renminbi qualified institutional investor (RQFII) licences from China.
Fullerton, a subsidiary of Singapore state investor Temasek Holdings, yesterday said it had received approval. The firm plans to launch two RQFII mutual funds - actively managed equity and bond products………………………………………..Full Article: Source

Adia takes 13% stake in German property owner Deutsche Annington

Posted on 27 May 2014 by VRS  |  Email |Print

Abu Dhabi Investment Authority (Adia) has a 13.4 per cent stake in Deutsche Annington, Germany’s largest publicly traded owner of apartments. The Abu Dhabi government-owned sovereign wealth fund was required by German financial rules to make the disclosure after a change in Deutsche Annington’s investment structure. Deutsche announced the disclosure yesterday in a statement.
Adia was one of the largest investors in the €2.1 billion (Dh10.52bn) Terra Firma Deutsche Annington Fund, set up in 2006 to hold the majority interest in Deutsche Annington……………………………………….Full Article: Source

Zero-growth France woos foreign investment

Posted on 26 May 2014 by VRS  |  Email |Print

France, the fifth largest economy in the world, is beset by structural issues of a bloated public sector and restrictive labour laws that stifle economic growth. “France is too big to ignore . . . there are more Fortune 500 companies headquartered in Paris than anywhere else in Europe,” said Laurent Vigier, chairman and CEO of CDC International Capital, a subsidiary of French sovereign wealth fund Caisse des Depots Group.
He plans to come to Singapore in June to meet officials at Temasek Holdings and the sovereign wealth fund, the Government of Singapore Investment Corporation (GIC). France is partnering other sovereign wealth funds from Qatar, the UAE and Russia in a one billion euro (S$1.7 billion) investment fund aiming to take equity stakes in French company- involved projects in real estate and infrastructure………………………………………..Full Article: Source

China sovereign wealth funds provide safe route to investment success

Posted on 26 May 2014 by VRS  |  Email |Print

Sometimes, investing in the mainland is a bit like stumbling into the Twilight Zone - especially if you are thinking about being a strategic investor in a major initial public offering. The idea of taking a strategic stake appeals because you get access to business sectors that a foreign firm might find hard to enter, given the notorious barriers in many mainland markets.
But then you have to understand that even domestically, the playing field is far from level. The plum, fat deals go to the state-owned enterprises. Private companies and foreign business get the scraps that are left………………………………………..Full Article: Source

If ECB pumps, we buy: China wealth fund

Posted on 26 May 2014 by VRS  |  Email |Print

The chairman of China’s massive sovereign wealth fund has said that monetary easing in the euro zone would be “good news” and open up market opportunities.
China Investment Corporation (CIC), which is responsible for managing some of the country’s massive currency reserves, was founded in 2007 and has $575 billion of assets under management, according to the Sovereign Wealth Fund Institute, and is the fourth-largest wealth fund of its kind in the world………………………………………..Full Article: Source

QIA commits $2bn investment to Russia

Posted on 26 May 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund the Qatar Investment Authority (QIA) is allocating $2bn to Russia via joint investments with state-backed private equity fund the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, the CEO of Russia’s fund said.
The RDIF invests alongside foreign partners and has previously attracted money from the Middle East and Asia including the Kuwait Investment Authority, Abu Dhabi’s Mubadala and the Abu Dhabi Department of Finance………………………………………..Full Article: Source

Alaska Permanent Fund Taps Apollo for $750mln Credit Mandate

Posted on 26 May 2014 by VRS  |  Email |Print

The Alaska Permanent Fund Corp. has handed Apollo Global Management a $750 million mandate that will target a range of investments across the credit spectrum.
Board directors gave the green light this week for the $48.8 billion state fund to pursue a strategic partnership with the firm, allowing Alaska to invest alongside Apollo and through its commingled funds……………………………………….Full Article: Source

Saudi Arabia’s investments: Oil-fuelled caution

Posted on 23 May 2014 by VRS  |  Email |Print

Gulf countries disclose scant details about their sovereign-wealth funds (SWFs), but Saudi Arabia is the most cautious investor, says Michael Maduell of the Sovereign Wealth Fund Institute, an American outfit which tracks them. Most of the $750 billion hoard it has piled up over the past decade of high oil prices is sitting at the Saudi Arabia Monetary Agency, the country’s central bank.
It invests its reserves mainly in bonds and equities, rather than less liquid but more lucrative assets such as property. In 2008 the government set up a more adventurous investment arm, Sanabil. But it holds assets of perhaps $5 billion, compared with the Abu Dhabi Investment Authority’s $773 billion or Kuwait Investment Authority’s $410 billion………………………………………Full Article: Source

Norway SWF Lobbies for Private Equity and Infrastructure

Posted on 23 May 2014 by VRS  |  Email |Print

The world’s biggest sovereign wealth fund, the Norway Pension Fund—Global, is seeking to diversify into private equity and infrastructure.The fund is lobbying the Norwegian government to allow it to allocate a portion of its $860 billion portfolio into the two asset classes, according to Bloomberg. It currently holds predominantly equities and fixed income, as well as a 5% position in real estate, overseen by Karsten Kallevig, CIO for real estate.
A spokesperson for the Norway Pension Fund could not be reached for comment at the time of going to press………………………………………Full Article: Source

Sovereign Wealth Funds increase investment in European real estate markets

Posted on 23 May 2014 by VRS  |  Email |Print

Sovereign Wealth Funds, the top investors in Europe’s key real estate markets increased their activity last year and now account for total investment volumes of €5.5 billion, a year on year rise of 30%. They are making key deals in Belgium, France, Germany, Ireland, Italy, Netherlands, Poland, Spain, Sweden and the UK, according to a new survey from international property consultants Savills.
The top SWFs identified by the report comprise of five funds from the Middle East and Asia Pacific and the average deal size per investor group during this period was €700 million, up on €247 million in 2012, with two of their nine transactions being portfolios………………………………………Full Article: Source

Singapore SWF invests further US$50 million into Indian healthcare group

Posted on 23 May 2014 by VRS  |  Email |Print

GIC Private Limited, the Singaporean sovereign wealth fund (SWF) with US$100 billion in AUM, has jointly invested an additional $50 million into India’s Vasan Healthcare Group, alongside venture capital firms Sequoia Capital and WestBridge Capital.
The second round of investment from GIC comes two years after the SWF bought a $100 million stake in the Chennai-based medical service provider, which specialises in ophthalmology and dentistry. Sequoia and Westbridge have previously invested $50 million into Vasan across three separate rounds of fundraising. Together, the three investors own 45% of the company, with the remaining shareholding held by chairman and managing director A M Arun………………………………………Full Article: Source

KIA’s investments in Germany tripled in 10 years - Al-Saad

Posted on 22 May 2014 by VRS  |  Email |Print

Managing Director of Kuwait Investment Authority (KIA) Bader Al-Saad said Wednesday the volume of KIA’s investments in Germany tripled in the last decade and grew by 80 percent in the last three years. “KIA maintained a strong and sustainable presence in the German economy, which is the largest in Europe, over the last five decades,” he said, noting that the Authority maintains close ties with German banks and investors.
Al-Saad is a member of the senior-level delegation accompanying the First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah on a visit to Germany on the occasion of the 50’s anniversary of the diplomatic ties and the 40th anniversary of the KIA-Daimler Group partnership…………………………………….Full Article: Source

Qatar Purchases Five Intercontinental Hotels

Posted on 22 May 2014 by VRS  |  Email |Print

Katari Hospitality, part of the Qatar Investment Authority sovereign wealth fund that specialises in domestic and foreign investment, has added to its growing portfolio by purchasing five Intercontinental hotels.
Located across five European cities, the hotels include the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental. Katari Hospitality will also be taking join control of InterContinental hotels in Frankfurt, Madrid and Rome…………………………………….Full Article: Source

Temasek’s StanChart stake dips after it takes dividend in cash

Posted on 21 May 2014 by VRS  |  Email |Print

Singaporean sovereign wealth fund Temasek’s stake in Standard Chartered has dipped to just below 18 percent after it opted to take the bank’s latest dividend in cash, while a majority of other investors took their payouts in shares.
Temasek has been Standard Chartered’s biggest investor since 2006. It said on Tuesday its holding had dipped to 17.75 percent, from 18.06 percent at the end of December. Any change in holding through a percentage point needs to be disclosed…………………………………Full Article: Source

Abu Dhabi Investment Authority picks stake in MT Educare

Posted on 21 May 2014 by VRS  |  Email |Print

Abu Dhabi Investment Authority, the sovereign wealth fund of the emirate of Abu Dhabi, has picked up 1 per cent stake in coaching services provider MT Educare for Rs 3.88 crore via block deal on Tuesday.
The education services firm attracted a slew of PE investors before and after its public float two years ago. An early investor Helix Investments sold its remaining 4.4 per cent stake in the company for Rs 16.8 crore ($2.8 million) to BanyanTree Growth Capital earlier this month. It also counts Avendus Private Equity as a shareholder…………………………………Full Article: Source

A new look at Dubai’s investment powerhouse

Posted on 21 May 2014 by VRS  |  Email |Print

Any day now, Investment Corporation of Dubai (ICD), the emirate’s flagship investment vehicle, will announce the take-up of a US$1 billion-plus bond issue the global financial markets have been considering for the past couple of weeks.
International investors will base their decision on the information contained in a weighty, 428-page prospectus sent to investors when the debt-raising plan was first announced. The document is essential reading if you want to understand the current economic and financial standing of ICD, and the emirate, as it embarks on another round of breakneck growth…………………………………Full Article: Source

NPRF invests €10 million in early-stage medical startups

Posted on 21 May 2014 by VRS  |  Email |Print

The National Pensions Reserve Fund (NPRF) has teamed up with US venture capital firm, Lightstone Ventures, to invest in early-stage medical device and pharmaceutical companies.
It’s the sixth investment from the NPRF as part of Innovation Fund Ireland, a Government initiative, led by Enterprise Ireland and the NPRF, to attract leading international venture capital fund managers to Ireland and to increase the availability of capital to Irish early-stage and high-growth companies…………………………………Full Article: Source

State Oil Fund of Azerbaijan suffered investment losses due to events in Ukraine

Posted on 21 May 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan suffered investment losses due to the events that took place in Ukraine. According to SOFAZ, budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-March, 2014 reached 3.005 bn manats, while budget expenditures constituted 2.443 bn manats meaning that the budget was implemented with actual surplus of AZN 561.7 million.
Nevertheless, revenue of AZN 3.006 bn was received from the implementation of oil and gas agreements, including AZN 2.991 bn from the sale of profit oil and gas, AZN 2.3 million as transit payments, AZN 13.3 million as bonus payments…………………………………Full Article: Source

JV between CIC, Russia state-backed firm plans $800mln tourism fund

Posted on 20 May 2014 by VRS  |  Email |Print

A joint venture between Russia Direct Investment Fund (RDIF) and China Investment Corp (CIC) plans to raise an $800 million fund to invest in infrastructure for senior living centers and to tap rising Sino-Russia tourism, a top executive at the Russian state-backed fund said on Monday.
The move is the latest in a series of partnerships and funds developed by RDIF, a $10 billion sovereign wealth fund set up in 2011 to attract strategic investors who have steered clear of Russia due to concerns over rampant graft and the rule of law. RDIF will hold a stake in the fund through Russia-China Investment Fund (RCIF), a private equity firm established with China’s sovereign wealth fund CIC in 2012, RDIF Chief Executive Kirill Dmitriev told Reuters in an interview……………………………………..Full Article: Source

GIC targets investments in Mexico after energy reform

Posted on 20 May 2014 by VRS  |  Email |Print

Government of Singapore Investment Corporation, one of the country’s two sovereign wealth funds, is looking for investments in Mexico, saying it sees attractive possibilities in the opening up of that country’s energy sector.
Though Pemex, the Mexican oil company, is not being privatised in the historic energy reform to end three-quarters of a century of state monopoly in the sector, it will be open to partnerships, and GIC is keen……………………………………..Full Article: Source

Temasek maintains optimism in Thailand’s long-term investment allure

Posted on 20 May 2014 by VRS  |  Email |Print

Singapore’s Temasek Holdings is still confident in the Thai economy for its long-term investments despite the political limbo, a high-ranking executive says.
“The situation in Thailand is obviously complex but what we think about Thailand is that there is a large population and the country is mixed with a large number of investment opportunities. The regulatory political cycle needs some time to resolve [itself],” Stephen Forshaw, managing director for strategic and public affairs at Temasek, said……………………………………..Full Article: Source

China’s soaring demand for meat to change the face of global trade in feed grains

Posted on 20 May 2014 by VRS  |  Email |Print

China Investment Corporation, the country’s US$480 billion sovereign wealth fund, is looking to invest in overseas agricultural businesses. So far, Chinese investments in Australian agriculture have reached a total of A$1.5 billion (HK$10.9 billion) in major announced deals, said said Patrick Vizzone, Asia head of food and agribusiness at National Australia Bank.
China accounted for 3 per cent of Australia’s beef exports in 2012, which soared to 20 per cent by the end of last year……………………………………..Full Article: Source

Qatar Acquiring Stake in Hotels

Posted on 20 May 2014 by VRS  |  Email |Print

Qatar Investment Authority is acquiring joint control of a portfolio of luxury European hotels including the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental.
The Qatari sovereign wealth fund’s Katara Hospitality unit is also taking joint control of InterContinental hotels in Frankfurt, Madrid and Rome, according to a notice on the website of the European Commission’s competition authority. The hotels are managed by and will continue to be jointly controlled by the U.K.’s InterContinental Hotels Group Plc……………………………………..Full Article: Source

Singapore wealth fund buys stake in Spain’s Applus

Posted on 19 May 2014 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC bought a 6.5 per cent stake in Spanish industrial testing firm Applus when it went public earlier this month, according to a regulatory filing, as the country’s economic turnaround draws more foreign investors.
GIC bought the shares, worth about 127 million euros (S$217.5 million) at current market prices, the filing showed. Applus raised about 1.1 billion euros - 300 million euros of which were new shares - as Spain’s market for initial public offerings (IPOs) reawakens after a three-year drought in the economic slump and banking crisis…………………………………..Full Article: Source

Singapore’s sovereign wealth fund invests in Metro Pacific’s hospital business

Posted on 19 May 2014 by VRS  |  Email |Print

Metro Pacific Investments Corp (MPIC) has taken in Singapore’s sovereign wealth fund as partner for the expansion of the Philippine company’s hospital business. In a disclosure to the Philippine Stock Exchange, the local arm of Hong Kong-based First Pacific Co Ltd said it entered into a definitive partnership agreement with GIC.
Under the agreement, GIC, through its affiliates, will pour in P3.7 billion to take a 14.4 percent stake in Neptune Stroika Holdings Inc (NSHI), the holding company for MPIC’s hospital investments…………………………………..Full Article: Source

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