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Azerbaijan launches investment offensive as cheap oil looms

Posted on 01 November 2016 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan, better known as Sofaz, is looking to take on more risk, according to Deputy CEO Israfil Mammadov. The fund aims to soon lift its cap on investment in stocks, including private equity, from 15% to 25%, Mammadov recently told The Nikkei Veritas.
Sofaz had $33.7 billion in assets under management at the end of June, of which bonds and short-term financial instruments made up roughly 80%. The fund acquired Kirarito Ginza, a shopping mall in Tokyo’s ritzy Ginza district, from Japanese leasing giant Orix last year for 52.3 billion yen ($496 million at current rates). Sofaz has also invested in funds involved in Japanese real-estate development, including logistics facilities and properties in outlying cities, Mammadov said……………………………………..Full Article: Source

SOFAZ to lift its cap on investment in stocks

Posted on 31 October 2016 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) aims to soon lift its cap on investment in stocks, including private equity, from 15 percent to 25 percent, SOFAZ Deputy CEO Israfil Mammadov said in an interview with The Nikkei Veritas.
SOFAZ had $33.7 billion in assets under management at the end of June, of which bonds and short-term financial instruments made up roughly 80 percent. He added that SOFAZ plans to increase the share of its portfolio devoted to real estate to 10 percent from the current 5.5 percent……………………………………..Full Article: Source

Why is Ireland’s sovereign wealth fund not putting money into our telecoms infrastructure?

Posted on 31 October 2016 by VRS  |  Email |Print

Who would want to invest in an Irish utility right now? Well, Anchorage Capital, for one. Last week, Anchorage, an Australian hedge fund, took control of Eir. It already held 36 per cent of Eir’s shares and controlled as much as 49 per cent of its voting rights, but last week it was placed firmly in the driving seat when York Capital announced that it was selling off its 9.8 per cent holding.
That holding would be divided up between Anchorage, Singapore’s sovereign wealth fund GIC (which owns 16.3 per cent) and hedge fund Davidson Kempner (which owns 11.8 per cent). The deal means that Eir, formerly Eircom, formerly Telecom Eireann, has now had eight controlling shareholders in the past 18 years……………………………………..Full Article: Source

How the Future Fund faces a returns squeeze

Posted on 31 October 2016 by VRS  |  Email |Print

The Future Fund is being slugged by the low interest rate environment, and chairman Peter Costello says its investment strategy may have to change to meet its commitments over Commonwealth public service pensions.
The Fund, set up in 2006 to pay for the unfunded superannuation liabilities of Commonwealth public servants in now closed defined benefit schemes, returned 4.8 per cent in the year to June 30, 2016. That is well below its targeted return of at least 6 per cent in the current inflation environment……………………………………..Full Article: Source

Reinsurance allocation primed for growth at Future Fund

Posted on 31 October 2016 by VRS  |  Email |Print

In its 2015-2016 annual report, Australian sovereign wealth investment fund, the Future Fund, confirmed that it’s added a second manager to its reinsurance portfolio, which the fund says will facilitate potential expansion of this exposure in the future.
The Future Fund utilises reinsurance as part of its alternative risk premia strategy, and following its $100 million allocation to Elementum in 2015, the addition of insurance and reinsurance-linked investment manager Kiskadee was announced earlier this year……………………………………..Full Article: Source

Hermes joins China’s sovereign wealth fund in National Grid bid

Posted on 28 October 2016 by VRS  |  Email |Print

Hermes Investment Management has joined a bid led by the Chinese government for a stake in the National Grid’s gas pipe network. City A.M. understands that people working on the deal have become increasingly wary of government scrutiny.
Theresa May’s administration announced recently that it would be making reforms to its approach to “the ownership and control of critical infrastructure to ensure that the full implications of foreign ownership are scrutinised for the purposes of national security.”…………………………………..Full Article: Source

Norges acquires 50% stake in CEE logistics portfolio

Posted on 27 October 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund has acquired a 50 percent interest in a logistics portfolio comprising eight buildings and developable land in Poland, the Czech Republic and Hungary, in a joint venture with Prologis. During the same period, three logistics properties in France have been sold.
The agreements for the new acquisitions were signed on 14 September 2016 and completed on 16 September and 19 September 2016. Norges Bank Real Estate Management paid €55.3 million for its 50 percent interest, valuing the portfolio of eight buildings at €110.5 million. The transactions did not include any debt financing…………………………………..Full Article: Source

Abu Dhabi sovereign fund managers keen in buying completed highway stretches

Posted on 25 October 2016 by VRS  |  Email |Print

Managers of sovereign wealth fund of Abu Dhabi are keen to invest in buying of completed highway projects for 30 years and operate them, highways minister Natin Gadkari said. Last week, India showcased its plan for monetising completed highway projects and undertaking development of inland waterways to attract investment from gulf countries.
“They wanted if we can adopt government-to-government route to get this investment. But we have told them that we will invite bids and if they offer best price, nothing like it,” Gadkari said…………………………………..Full Article: Source

SOFAZ reveals its investment portfolio

Posted on 25 October 2016 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ, which is engaged in accumulation and management of oil and gas revenues of the country, revealed the structure of its investment portfolio. Some 69.8 percent of the total investment portfolio was placed in financial instruments with the term of up to 5 years in January-September 2016.
The total volume of the portfolio amounted to $3.95 billion, which makes some 94.8 percent of the total volume of assets. About 36.1 percent of the portfolio was placed with the term of up to one year, while some 19.2 percent with the term ranging from one to three years, 14.5 percent from three to five years and some 9.5 percent with the term exceeding the period of five years…………………………………..Full Article: Source

Norwegian sovereign fund boosts exposure to CEE logistics

Posted on 25 October 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund has further grown its logistics holdings after acquiring stakes in a €110m portfolio owned by Prologis. The Government Pension Fund Global bought a 50%, €55.3m stake in an eight-strong portfolio spread across three cities in Poland, the Czech Republic and Hungary from Pologis, while also selling three properties in France previously acquired through its joint venture with the real estate developer.
Norges Bank Real Estate Management, the property arm of the NOK7.1trn (€788bn) oil fund, said the acquisition of the eight Central and Eastern European properties did not include debt financing…………………………………..Full Article: Source

Singapore’s Temasek invests $350 mln in China health sector JV

Posted on 21 October 2016 by VRS  |  Email |Print

Singapore’s Temasek has said it is investing $347.2 million in the Chinese health care sector. The Singapore sovereign wealth fund will make the investment in the China operations of Columbia Pacific Management, Bloomberg reported.
The fund will partner with Columbia to form a 50-50 joint venture that taps into the growing health care sector in China. The JV will focus on providing health care services to China’s burgeoning middle-class population. The strategy will be to offer affordable services in China, Columbia said in a statement…………………………………….Full Article: Source

GIC, Mega Manunggal to Invest S$1 Billion in Warehouses

Posted on 21 October 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC Pte and Indonesian warehouse provider PT Mega Manunggal Property Tbk are spending a total of S$1 billion ($720 million) over the next three years on warehouses in Southeast Asia’s biggest economy.
GIC, through its subsidiary Reco Indolog Pte, and Mega Manunggal formed Mega Khatulistiwa Properti, an investment company which already started construction of three warehouses with over 115,000 square meters of total net leasable area, Mega Manunggal said in a statement to the Jakarta stock exchange on Thursday. The three projects will be completed in 2017…………………………………….Full Article: Source

Gulf investors prepared to buy 25 percent Deutsche Bank stake

Posted on 21 October 2016 by VRS  |  Email |Print

Deutsche Bank’s shares jumped 4 percent on Thursday following a report by German business monthly Manager Magazin, which said sovereign wealth funds from Qatar and Abu Dhabi and a Chinese investor could buy a 25 percent stake in the lender.
The magazine, citing banking sources, said Qatar and Abu Dhabi’s sovereign wealth funds and an unnamed investor from China would be prepared to participate in any capital increase to improve the lender’s financial health. The Qatar Investment Authority and the Abu Dhabi Investment Authority sovereign funds both declined to comment…………………………………….Full Article: Source

Qatar’s SWF said to be mulling stake in $100bn technology fund

Posted on 21 October 2016 by VRS  |  Email |Print

Qatar Investment Authority could invest in fund set up by SoftBank and Saudi Arabia’s Public Investment Fund. Qatar is reportedly mulling an investment in the $100 billion technology fund set up by Japanese internet giant SoftBank and Saudi Arabia’s sovereign wealth fund.
SoftBank chairman Masayoshi Son has visited Doha and other parts of the Gulf and held discussions with prospective investors, including Qatar Investment Authority (QIA), Bloomberg reported, citing sources familiar with the matter…………………………………….Full Article: Source

Singapore’s Temasek Targets China’s Health-Care Sector With Joint Venture

Posted on 20 October 2016 by VRS  |  Email |Print

Firm’s $250 million investment in venture with Seattle’s Columbia Pacific focuses on China as population ages. Singaporean state investment firm Temasek Holdings Pte. Ltd. is making a bet on China’s growing health-care market, investing $250 million in a joint venture focused on the country with a U.S. firm, according to people familiar with the situation.
Columbia Pacific Management, a Seattle-based health-care provider with operations in China, is set to unveil the joint venture with Temasek on Thursday, the people said……………………………………Full Article: Source

Qatar Said to Consider Joining $100 Billion SoftBank Tech Fund

Posted on 20 October 2016 by VRS  |  Email |Print

Qatar is considering investing in the $100 billion global technology fund formed by SoftBank Group Corp. and Saudi Arabia, according to people familiar with the matter. SoftBank Chairman Masayoshi Son has visited Doha and other parts of the Gulf region in recent months to discuss investments with global investors, one of the people said, asking not to be identified as the information is private.
The Qatar Investment Authority sovereign wealth fund is considering an investment of billions of dollars, which will help diversify its economy away from oil, the people said……………………………………Full Article: Source

Firm acts on major sovereign wealth fund investment

Posted on 20 October 2016 by VRS  |  Email |Print

Ashurst advised Abertis Infraestructuras S.A. on the investment by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) in Abertis’ Chilean toll road business. The value of the investment of the sovereign wealth fund of the Abu Dhabi emirate implies a cash inflow of €495m (about $710m) for Abertis.
The transaction gives ADIA a 20% interest in the six toll road concessions managed by Abertis in Chile. Abertis, which will retain an 80 per cent interest in the business, is the largest toll road operator in Chile in terms of traffic, with the six concessions totalling 771 kilometres under management……………………………………Full Article: Source

Norway’s $880bn oil fund to invest more in global equities

Posted on 20 October 2016 by VRS  |  Email |Print

Norway’s $US880bn ($A1.15trn) oil fund is being urged to invest billions of dollars more in equities and take on more risk in what would be a big shift in its asset allocation away from bonds.
The world’s largest sovereign wealth fund should invest 70 per cent of its assets in shares, up from today’s 60 per cent, at the expense of bonds, according to a government-commissioned report……………………………………Full Article: Source

The world’s biggest sovereign wealth fund is about to start taking more risks

Posted on 20 October 2016 by VRS  |  Email |Print

Norway’s Global Government Pension Fund, the biggest sovereign wealth fund in the world by assets under management, could be about to start taking a lot more risks if it follows the advice of a government-commissioned report into the way it allocates its assets.
The new report, released on Tuesday, argues that the £716 billion ($880 billion) fund should increase its holdings of shares, and move around £71 billion ($87 billion) of its assets into riskier equity holdings……………………………………Full Article: Source

Norway wealth fund should shift more money to equities from bonds

Posted on 19 October 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund should raise the proportion of its investments in equities to 70 percent from 60 percent to the detriment of its bond holdings, the majority on a government-appointed commission said on Tuesday.
Its chairman dissented, saying equity holdings should be cut. If the increase was done today, it would mean the world’s largest sovereign wealth fund, currently valued at $875 billion, would move $87 billion into equities away from government bonds, whose low interest rates are dragging down the fund’s return…………………………………….Full Article: Source

Norway Sovereign Wealth Fund Urged to Add $87 Billion in Stocks

Posted on 19 October 2016 by VRS  |  Email |Print

Norway’s $874 billion wealth fund needs to add more stocks as record low interest rates and a weak global economy will otherwise lower returns to just above 2 percent a year over the next three decades, a government-appointed commission recommended.
The Finance Ministry should raise the fund’s stock mandate to 70 percent from 60 percent, the committee, comprised of academics, investors and two former finance ministers, urged on Tuesday…………………………………….Full Article: Source

Majority on Norway commission says wealth fund should raise equity investments to 70 pct

Posted on 19 October 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund should raise its share of equities investments to 70 percent from 60 percent, the majority on a government-appointed commission will say on Tuesday, daily Dagens Naeringsliv reported, citing unnamed sources.
The head of the commission will dissent with the opinion of the majority on the commission and say that the fund should cut its investments in equities to 50 percent, the newspaper reported…………………………………….Full Article: Source

Sovereign fund pours £621m into Scotia Gas

Posted on 19 October 2016 by VRS  |  Email |Print

One of the world’s biggest sovereign wealth funds added to its collection of British assets yesterday by picking up a £621 million stake in a Scottish gas distribution network.
The Abu Dhabi Investment Authority, which owns stakes in Gatwick airport and Thames Water, has acquired a 16.7 per cent stake in Scotia Gas Networks from SSE. Scotia manages the pipes and network supplying gas to 5.9 million homes and businesses in Scotland, southern England and parts of Northern Ireland…………………………………….Full Article: Source

Singapore court approves Temasek’s buyout of SMRT

Posted on 18 October 2016 by VRS  |  Email |Print

Singapore’s High Court has approved state investor Temasek Holdings’ buyout of transport operator SMRT Corporation, bringing the delisting of a 16-year-old float one step closer to reality. The last day of trading of blue-chip SMRT’s shares will be Oct 18, while payout of the S$1.68 per share is expected to take place by Nov 1.
SMRT shareholders had voted on Sept 29 to let Temasek take SMRT private by way of a scheme of arrangement. Said SMRT in a release after markets closed on Monday: “The Board wishes to announce that the Scheme has been sanctioned by the Court today…………………………………..Full Article: Source

Adia buys stake in British gas utility SGN

Posted on 18 October 2016 by VRS  |  Email |Print

The Abu Dhabi Investment Authority has bought a stake in SGN, a UK gas distribution ­company, as part of its strategy to invest some of its vast assets in infrastructure with steady earnings.
Adia paid £621 million (Dh2.77 billion) for a 16.7 per cent stake in SGN, formerly known as Scotia Gas Networks, from SSE, the second-largest energy supplier in the UK. SGN distributes natural gas to about 6 million homes and businesses in Scotland and the south of England, and operates one of the oldest biomethane fac­ilities in the country…………………………………..Full Article: Source

Gulf State wealth fund shells out £621 million for SGN stake

Posted on 18 October 2016 by VRS  |  Email |Print

Perth power provider SSE has sold a minority stake in gas distribution business SGN to the Abu Dhabi Investment Authority for £621 million. The Gulf State-based sovereign wealth fund is expected to tie-up the purchase of a 16.7% stake in SGN by the end of this month.
SSE will retain a 33.3% stake in SGN – which owns and operates two gas distribution networks serving six million properties in Scotland and the south of England – following the sale…………………………………..Full Article: Source

SoftBank’s Saudi-backed fund offers break from leveraged growth

Posted on 18 October 2016 by VRS  |  Email |Print

The new technology investment vehicle being set up jointly by SoftBank Group and a Saudi sovereign wealth fund will let the Japanese telecom giant aggressively pursue megadeals while reducing its debt exposure, the group’s chief said.
“We will make priority investments through this fund in amounts at or above a certain level,” SoftBank Chairman and CEO Masayoshi Son told The Nikkei in a recent interview. He intends for the vehicle to be worth around $100 billion. SoftBank will contribute at least $25 billion over five years while the Saudi Public Investment Fund will pitch in $45 billion. The rest will come from other investment funds…………………………………..Full Article: Source

For sovereign funds, India is the place to be

Posted on 17 October 2016 by VRS  |  Email |Print

With volatility plaguing global commodity markets, sovereign wealth funds (SWFs) have turned to India to park their funds. The value of Indian stocks held by these investors is up 32 per cent in the first eight months of 2016, at INR 2.31 lakh crore. In 2015, too, SWFs were net buyers of Indian equity, with the value of their holding rising 14 per cent.
Some of the world’s largest funds, such as Norway’s Government Pension Fund Global, the Government of Singapore Investment Corporation (GIC) and the Abu Dhabi Investment Authority (ADIA), hold a chunk of listed Indian stocks……………………………………..Full Article: Source

Saudi Arabia investing billions in global technology fund

Posted on 17 October 2016 by VRS  |  Email |Print

Public Investment Fund (PIF) has taken another strong step in its mission to support Saudi Vision 2030 with its move to set up a strategic partnership with SoftBank Group Corp. (SBG), according to top businessmen and analysts.
“This is a bold move by the PIF to explore global opportunities into tech ventures,” Basil Al-Ghalayini, CEO of BMG Financial Group, told Arab News. His comments came as the PIF joined forces with Japanese telecom firm SoftBank to form a tech investment fund worth as much as $100 billion, making it one of the largest on the planet……………………………………..Full Article: Source

Russian companies have been increasingly looking towards India: Kirill Dmitriev of RDIF

Posted on 17 October 2016 by VRS  |  Email |Print

Notwithstanding decades old strong political and growing strategic partnership Indo-Russian trade and investment ties remain far below potential. But with now India seeking investments to boost infrastructure and boost economy, efforts are being made for a new India to engage with a new Russia with focus on energy, infrastructure, railways, agriculture and high technology sectors.
ET’s Dipanjan Roy Chaudhury spoke with Kirill Dmitriev, CEO the Russian Direct Investment Fund (RDIF), member of BRICS Business Council, at Benaulim Goa. RDIF is investing $ 500 million to create Russia-India Investment Fund with an equal amount from National Investment and Infrastructure Fund……………………………………..Full Article: Source

Norway To Withdraw $15 Bln From Its Wealth Fund, Can Put Bitcoin in Portfolio in Future

Posted on 17 October 2016 by VRS  |  Email |Print

Norway is now planning to withdraw NOK 121 bln (close to $15 bln) from its sovereign wealth fund in order to cover its loss of oil revenue. The idea that Norway’s sovereign wealth fund could put cryptocurrency in its portfolio now sounds wild, but in reality it could happen soon.
The country is the biggest oil exporter in western Europe and with crude oil prices down, it has hurt the Norwegian economy and if oil prices do not rise. The fund itself is approximately $890 bln. The fund keeps the money in the Norges Bank. By third quarter 2016, the government already withdrew a total of NOK 54 bln. It looks like the trends is continuing despite negative effects……………………………………..Full Article: Source

Vietnam’s Biggest Investor Is Quietly Quitting The Market

Posted on 17 October 2016 by VRS  |  Email |Print

A sovereign wealth fund in Vietnam announced this year it would divest from holdings among 120 listed companies. That plan, part of the government’s longer-term scheme to pull out of listed firms, will let the free market take its course instead of taking cues from the Communist state and allow companies involved to operate more efficiently. But the process just might take a while.
Divestment by the State Capital Investment Corp. would free up shares for ever-eager foreign investors. Offshore funds see Vietnamese stocks as investments in the Southeast Asian country’s fast-growing, export-led economy and surging middle class……………………………………..Full Article: Source

Gulf investors eye Turkey as major economies like the US lose trust

Posted on 17 October 2016 by VRS  |  Email |Print

In late September, the U.S. Congress overrode U.S. President Barack Obama’s veto of legislation, known as JASTA, which gives families of 9/11 victims the right to sue Saudi Arabia for any alleged role it may have had in the 9/11 attacks. Fifteen of the 19 hijackers were Saudi citizens but no link to the Saudi government has been proven while the government denies any ties with the plotters.
Gulf investors’ interest in Turkey has increased as they lose trust in major economies like the U.S., according to Prime Minister Binali Yıldırım. Yıldırım held a private meeting with economy editors of national newspapers on Saturday where he discussed recent developments in the economy on a local and global scale, underlining the rising interest of Gulf investors. Touching upon the U.S.’s latest decision on Saudi Arabia, the prime minister noted that these kinds of decisions weaken trust in the U.S……………………………Full Article: Source

Surbana Jurong buys auxiliary police Aetos from Temasek

Posted on 14 October 2016 by VRS  |  Email |Print

Urban development group Surbana Jurong has bought Aetos Holdings, one of three licensed auxiliary police organisations in Singapore, from investment firm Temasek Holdings, Surbana Jurong said in a press release on Thursday.
It said the acquisition of 100 per cent of Aetos would expand its “service offerings to include safety and security capabilities”. Surbana Jurong group chief executive Wong Heang Fine said in a statement: “We will also be able to utilise Aetos’ state-of-the-art unmanned aerial vehicles to enhance our surveillance security services as well as enhance our land survey capabilities.”…………………………………….Full Article: Source

‘Big opportunities’ ahead for Russia, says head of foreign investment fund

Posted on 13 October 2016 by VRS  |  Email |Print

Russia’s economy is expected to return to growth as early as the end of the year and has a “big opportunity” to attract foreign investment, the chief executive of the Russian Direct Investment Fund (RDIF) said.
“The Russian economy really went through some difficult times but as of the beginning of the year it really reached a floor and is coming up and we expect growth to resume at the end of this year or early next year,” Kirill Dmitriev said………………………………….Full Article: Source

Azeri oil fund SOFAZ assets stand at $35.8 bln in Jan-Sept, flat y/y

Posted on 13 October 2016 by VRS  |  Email |Print

The assets of Azerbaijan’s state oil fund SOFAZ totalled $35.822 billion in January-September, flat on the same year-ago period, but 6.7 percent higher than at the befinning of 2016, the fund’s executive director, Shakhmar Movsumov, said on Wednesday.
SOFAZ’s investment potrfolio shrank by 5.2 percent year-on-year to $33.95 billion in the first January-September, Movsumov told reporters………………………………….Full Article: Source

Saudi Wealth Fund to Cut Back on Lending in Transformation Plan

Posted on 12 October 2016 by VRS  |  Email |Print

Saudi Arabia’s Public Investment Fund is set to cut back on lending to domestic projects, which has increased by more than 80 percent over the past five years, as part of plans to transform the institution into the world’s largest sovereign wealth fund.
Loans by the PIF, as the fund is known, rose to 104 billion riyals ($27.5 billion) at the end of 2015, from 57 billion riyals at the end of 2011, according to information in Saudi Arabia’s sovereign bond prospectus. In the future, the PIF “will not act as a source of lending to the same extent that it has historically,” according to the document………………………………………Full Article: Source

Spain’s Abertis agrees to sell 20 pct stake in Chile unit to ADIA

Posted on 11 October 2016 by VRS  |  Email |Print

Spain’s Abertis said on Monday it had agreed to sell a 20 percent minority stake in its Chilean unit to the Abu Dhabi Investment Authority (ADIA) for 495 million euros ($554 million). The sale values the unit, which runs 771 kilometers of highways through six concessions in the country, at a total of 3.7 billion euros including debt, Abertis said in a statement.
The Spanish company will continue to run the company and will hold the remaining 80 percent stake………………………………….Full Article: Source

NZ Super Fund’s investments in NZ drop despite ministerial directive

Posted on 10 October 2016 by VRS  |  Email |Print

The New Zealand Superannuation Fund has reduced the portion of the fund invested in New Zealand to 14.79 percent of its value from 21.3 percent in 2009 despite a ministerial directive to eventually increase the allocation to 40 percent.
The sovereign wealth fund’s annual report shows its exposure to New Zealand is 12.6 percent as at June 30, 2016, compared to 13.5 percent in 2015 and 13.8 percent the prior year. The figure rises to 14.79 percent when based on a proportional calculation of the value of its investments in the financial statements and including holdings in rural and forest land…………………………………….Full Article: Source

$67 billion Libyan Investment Authority sees Malta platform as ‘vital to its credibility’

Posted on 10 October 2016 by VRS  |  Email |Print

The Libyan Investment Authority, which holds some $67 billion in assets, sees its platform in Malta as vital to its credibility. The president of the Interim Steering Committee of the Libyan Investment Authority (LIA), Ali Hassan Mahmoud, recently hosted its first unified meeting attended by the Steering Committee and the leadership of all LIA subsidiaries in Tunis.
Commenting at the meeting, Dr Ali said, “The EU regulation, accountability standards and governance that is offered by the Malta platform for the LIA is vital to our credibility with banks, investment partners and those companies in which the LIA invests…………………………………….Full Article: Source

US renewables firm Longroad secures investments from New Zealand

Posted on 07 October 2016 by VRS  |  Email |Print

US renewables developer Longroad Energy Holdings LLC has secured financing from a publicly-traded infrastructure investor and a sovereign wealth fund based in New Zealand.
In particular, Infratil Limited and the New Zealand Superannuation Fund have made an equity investment and credit commitment of an undisclosed amounts, Longroad said in a statement on Wednesday. The US firm, which is led by former executives from First Wind, has entrusted the management of the investment to HRL Morrison & Co……………………………………Full Article: Source

Super Fund’s investments in NZ drop

Posted on 07 October 2016 by VRS  |  Email |Print

The proportional value of NZ assets held in the SuperFund stands at less than 15 per cent despite a directive seven years ago to lift domestic investment. The New Zealand Superannuation Fund has reduced the portion of the fund invested in New Zealand to less than 15 per cent of its value despite a ministerial directive to eventually increase the allocation to 40 per cent.
The sovereign wealth fund’s annual report shows its exposure to New Zealand is 14.79 per cent when based on a proportional calculation of the value of its investments and including holdings in rural and forest land……………………………………Full Article: Source

NZ Super Fund’s investments in NZ drop

Posted on 06 October 2016 by VRS  |  Email |Print

The New Zealand Superannuation Fund has reduced the portion of the fund invested in New Zealand to 14.79 percent of its value from 21.3 percent in 2009 despite a ministerial directive to eventually increase the allocation to 40 percent.
The sovereign wealth fund’s annual report shows its exposure to New Zealand is 12.6 percent as at June 30, 2016, compared to 13.5 percent in 2015 and 13.8 percent the prior year. The figure rises to 14.79 percent when based on a proportional calculation of the value of its investments in the financial statements and including holdings in rural and forest land……………………………………..Full Article: Source

NZSuper, Infratil back North American solar, wind developer Longroad

Posted on 06 October 2016 by VRS  |  Email |Print

The New Zealand Superannuation Fund and Infratil Ltd., a listed infrastructure fund managed by Wellington-based H.R.L. Morrison & Co., said Wednesday they each hold a 45% stake in Longroad Energy Holdings, a Boston-based developer and operator of wind and solar generation facilities established earlier this year.
Vimal Vallabh, investment director of Morrison & Co.’s energy and renewable sector team, said initial plans call for up to $100 million in development expenditures………………………………….Full Article: Source

Government to enact the Sovereign Wealth Fund Secretariat

Posted on 06 October 2016 by VRS  |  Email |Print

The National Government is expected to formalise the establishment of the Administrative Secretariat of the Sovereign Wealth Fund (SWF) of Papua New Guinea at the Central Bank. “The Bank has sought external technical assistance to establish the Administrative Secretariat of the SWF.”
The proposed Sovereign Wealth Fund of PNG will be a PNG Government owned investment fund or entity. The SWF will ensure revenue from non-renewable resources are well managed, equitably distributed and used sustainably to improve socio-economic indicators of PNG………………………………….Full Article: Source

GIC invests in student housing in Germany

Posted on 05 October 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and global student accommodation specialists GSA yesterday announced a partnership to invest in student accommodation in Germany - their second such investment in the past week.
The cornerstone investment of the partnership is a portfolio of close to 1,000 student beds, which GSA acquired in June. The portfolio features properties in Frankfurt, Darmstadt, Munster and Dresden as well as a pipeline of 1,500 beds, which will be expanded through investments, developments and in working with local property companies………………………………………Full Article: Source

Empire State stake, Melbourne port among Q3 sovereign fund acquisitions

Posted on 04 October 2016 by VRS  |  Email |Print

An Australian port and a stake in the Empire State Building’s operator were among assets acquired by sovereign investors such as wealth funds and state pension funds in the third quarter of 2016, with deals totalling $21.2 billion.
Although some oil-backed sovereign wealth funds (SWFs) have been hit by a plunge in oil prices since June 2014, prompting withdrawals from cash-strapped governments to cover funding gaps, others, especially Asian SWFs, remain well-funded…………………………………….Full Article: Source

Sovereign wealth jumps into student accommodation with Oaktree deal

Posted on 04 October 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and Dubai-based student accommodation provider GSA have acquired a 7150-bed UK student accommodation portfolio from funds managed by Oaktree Capital Management.
While details were scarce the transaction is said to be the United Kingdom’s largest student accommodation deal so far this year. The portfolio, which was built up in the last three years, includes student digs in Liverpool, Bristol, London, Edinburgh, Cardiff and Southampton…………………………………….Full Article: Source

China walking a tightrope with Australian investment

Posted on 04 October 2016 by VRS  |  Email |Print

China Investment Corp.’s low-profile participation in the recently announced $7.3 billion winning bid for Port of Melbourne points to the balancing act facing Chinese investors and the governments of countries in which those investors are ramping up allocations.
Strictly as a matter of capital deployed, the $810 billion Beijing-based sovereign wealth fund stands in the first ranks of the deal’s stakeholders — committing roughly the same 20% share of the total as Australia’s A$122.8 billion ($92 billion) Future Fund, Melbourne, and the C$77 billion ($58.3 billion) Ontario Municipal Employees Retirement System, Toronto…………………………………….Full Article: Source

Norway’s wealth fund can resume investing in Singapore Technologies Engineering

Posted on 04 October 2016 by VRS  |  Email |Print

The Norwegian sovereign wealth fund, the world’s largest, can resume investing in Singapore Technologies Engineering, the board of the central bank. The fund originally excluded the company from its investments in 2002 because it produced anti-personnel landmines, following a recommendation from the Council on Ethics, its independent ethics watchdog.
The Council on Ethics has received confirmation from Singapore Technologies Engineering that the company no longer has any activities associated with production of antipersonnel landmines or cluster munitions……………………………………Full Article: Source

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