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Sovereign Wealth Funds Briefing - Category | Investment more

We’ll Invest MORE if Britain Leaves EU, Says World’s Largest Sovereign Wealth Fund

Posted on 14 March 2016 by VRS  |  Email |Print

The boss of the world’s biggest sovereign wealth fund said it would invest even more in the UK if it votes to leave the European Union (EU). Yngve Slyngstad, chief executive of Norway’s £884bn fund, dismissed claims by the British government that a Brexit would harm investment.
He told Reuters: “We will continue to be a significant investor in the UK at about the same level as we are today and probably even increasing our investments there no matter what happens. All changes entail some risk but we would not categorize it as a significant risk.”……………………………………….Full Article: Source

Norway’s oil fund doubles investment in Lithuanian government bonds in 2015

Posted on 11 March 2016 by VRS  |  Email |Print

Norway’s government pension fund, which is often referred to as the Norwegian oil fund and is one of the biggest global institutional investors, last year doubled its investment in Lithuania’s government securities but reduced its shareholding in Lithuanian-owned aircraft leasing, management and trading company AviaAM Leasing, Norges Bank Investment Management (NBIM), the manager of the fund, said.
The fund’s investment in Lithuania’s government securities amounted to nearly 1.661 billion Norwegian kroner (EUR 176.8 mln) at the end of 2015, up from 711 million kroner (EUR 75.7 mln) a year before………………………………………..Full Article: Source

Norway Wealth Fund Keeps Buying as Struggling Petro-States Sell

Posted on 10 March 2016 by VRS  |  Email |Print

Norway will remain a bulwark against global stock declines as its sovereign wealth fund, the world’s biggest, proves to be an odd-ball among oil-built investment vehicles. “There’s been a lot of writing about oil-based sovereign wealth funds selling assets. Well, as a matter of fact, we have actually been net buying assets this year,” Yngve Slyngstad, CEO of the $830 billion fund, said in an interview in Oslo.
And the buying probably won’t stop soon. Unlike wealth funds in the Middle East and central Asia, Norway doesn’t foresee a need to sell assets, even as the government starts withdrawing money from its massive piggy bank to plug budget holes exacerbated by collapsing crude prices………………………………………..Full Article: Source

Norway’s $830 bn sovereign wealth fund to continue investments in UK

Posted on 10 March 2016 by VRS  |  Email |Print

Norway’s $830 billion sovereign wealth fund, the world’s largest, does not see the prospect of Britain leaving the European Union as a significant risk to its investments, its chief executive has said. Britain is the fund’s second-largest country holding after the US, representing 10.2 percent of its total value at end-2015. It made its first-ever property deal by buying a stake in London’s Regent Street in 2011.
“We will continue to be a significant investor in the UK at about the same level as we are today and probably even increasing our investments there going forward no matter what happens,” Yngve Slyngstad, CEO of Norges Bank Investment Management, told Reuters in an interview………………………………………..Full Article: Source

Norway Wealth Fund Isn’t Joining Global Stock Selloff, CEO Says

Posted on 10 March 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund, the world’s biggest, hasn’t been part of a global selloff in stocks this quarter, according to its chief executive officer, Yngve Slyngstad. “We have not been participating in the selling, and we don’t foresee” that a change of strategy will be necessary, Slyngstad said at a presentation of the fund’s 2015 results on Wednesday in Oslo.
The comments follow evidence that wealth funds across the Middle East and central Asia have sold assets to plug deficits amid plunging oil prices. Speculation that petrodollar-stocked wealth funds were exiting assets has fed into market turmoil as stocks sank this quarter. The MSCI World Index is down more than 4 percent since the end of December………………………………………..Full Article: Source

Rare Glimpse Into Norwegian Fund Shows Shift From Large Stakes

Posted on 10 March 2016 by VRS  |  Email |Print

Disclosures by Norway’s $877 billion oil fund offer an unusually detailed view of its workings. Norway’s $877 billion sovereign-wealth fund, the world’s largest, said on Wednesday that it held fewer large equity stakes at the end of 2015 than a year earlier, due to a gradual shift away from Europe and a transfer of equity assets into its real-estate portfolio.
Norges Bank Investment Management, or NBIM, which manages the fund, said it held stakes exceeding 5% in 29 companies at the end of 2015, down from 57 companies a year earlier. It held stakes exceeding 2% in 1,074 companies, down from 1,205 companies a year earlier………………………………………..Full Article: Source

SOFAZ reveals investment volume for new rig construction

Posted on 10 March 2016 by VRS  |  Email |Print

Roughly $696.1 million has been allocated since the beginning of construction to finance the construction of a new generation drilling rig in Azerbaijan, Azerbaijan’s state oil fund SOFAZ told Trend. “Some $287.6 million has been allocated for this project in 2015,” SOFAZ said.
The cost of the drilling rig construction project is $1.116.7 billion. SOFAZ is the owner of 90 percent of the equity in “Azerbaijan Rigs” LTD, established for the construction of a new platform. The remaining 10 percent of a share in the company are owned by SOCAR………………………………………..Full Article: Source

Mumtalakat buys stake in Kuwait gas manufacturer

Posted on 10 March 2016 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company, the kingdom’s sovereign wealth fund, has acquired a minority equity stake in Gulf Cryo, a leading regional manufacturer, distributor and service provider of industrial gases based in Kuwait.
Mumtalakat will join Gulf Cryo’s shareholder group, which includes Amer Huneidi, other members of the Huneidi family and Investcorp, said a statement. DeNovo Corporate Advisors acted as the financial advisor in this transaction to the majority shareholders in the company, it said………………………………………..Full Article: Source

Chinese investment in Australia needs closer scrutiny

Posted on 09 March 2016 by VRS  |  Email |Print

The $3 billion purchase of Australia’s Pacific Hydro by China’s State Power Investment Corporation is not mentioned but is ­worthy of scrutiny, as are efforts by Chinese electricity companies to extend their influence over our electricity networks through tenders.
David Irvine’s comment that China already has the cyber capacity to shut down Australia’s electricity network is cited as a basis for no longer needing to care about who owns our strategic ­infrastructure………………………………………..Full Article: Source

Singapore’s GIC makes first African investments

Posted on 09 March 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has invested $100 million in two African-focused private equity players, Actis and RMB Westport, Deal Street Asia has reported. This is the first time that GIC, which has investment in the US, Europe and Asia, has invested in Africa. Its lack of direct presence on the continent could be one of the reasons why it decided to invest indirectly via Actis and RMB Westport, private equity portal PERE said.
The state-owned investment arm said it was investing in Actis Real Estate Fund III that seeks to raise $400 million and RMB Westport’s Real Estate Development Fund II that’s looking for up to $450 million………………………………………..Full Article: Source

Mumtalakat acquires stake in Gulf Cryo

Posted on 09 March 2016 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, announced its successful acquisition of a minority equity stake in Gulf Cryo, the leading regional manufacturer, distributor and service provider of industrial gases based in Kuwait. This investment is a reflection of Mumtalakat’s continued efforts to grow and diversify its holdings across various sectors and regions.
Mumtalakat will join Gulf Cryo’s shareholder group, which includes Amer Huneidi, other members of the Huneidi family and Investcorp. deNovo Corporate Advisors (deNovo) acted as the financial advisor in this transaction to the majority shareholders in the Company………………………………………..Full Article: Source

Mumtalakat acquires 49% stake in Spanish-based aluminium grain refiner, ALEASTUR

Posted on 08 March 2016 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, announced the successful acquisition of a 49% equity stake in Asturiana de Aleaciones S.A. (ALEASTUR), a Spanish-based manufacturer of aluminium grain refiners and master alloys.
This transaction demonstrates Mumtalakat’s continued commitment to further develop the Kingdom’s downstream aluminium sector and to strengthen the synergies between local manufacturers and key international players. Mumtalakat aims to support ALEASTUR’s plans to establish a presence in Bahrain to cater to the Company’s existing client base in the region and to target new customers in Asia, including smelters and casting operations………………………………………..Full Article: Source

Abu Dhabi fund chief says GlobalFoundries not for sale

Posted on 08 March 2016 by VRS  |  Email |Print

GlobalFoundries and its Fab 8 computer chip factory in Saratoga County are not for sale, despite news reports and speculation that its Abu Dhabi parent company was looking to sell off all or a portion of the semiconductor company to raise cash.
The denial of a potential sale was made by Khaldoon Khalifa Al Mubarak, the U.S.-educated CEO of Mubadala Development Co., the Abu Dhabi investment fund that owns GlobalFoundries. Bloomberg reported several months ago that Mubadala was looking to sell all or a piece of GlobalFoundries to raise money amid the global oil glut that had sent oil prices down to historic lows………………………………………..Full Article: Source

Singapore sovereign wealth fund takes stake in Railpool

Posted on 07 March 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has taken a 49% stake in München-based electric locomotive leasing company Railpool, joining funds managed by Oaktree Capital Management.
Railpool is ‘a high quality business with a strong track record and a proven business model’, said Stuart Baldwin, Head of Infrastructure at GIC. Founded in 2008, it currently leases 140 locomotives to various European operators and has another 40 on order. Railpool said the deal would enable it to enter into new business areas and selectively make acquisitions………………………………………..Full Article: Source

Singapore sovereign wealth fund takes stake in Railpool

Posted on 04 March 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has taken a 49% stake in München-based electric locomotive leasing company Railpool, joining funds managed by Oaktree Capital Management.
Railpool is ‘a high quality business with a strong track record and a proven business model’, said Stuart Baldwin, Head of Infrastructure at GIC. Founded in 2008, it currently leases 140 locomotives to various European operators and has another 40 on order………………………………………..Full Article: Source

China Investment Corp teams to buy Australian port company

Posted on 03 March 2016 by VRS  |  Email |Print

Yet with Australia growing in importance as a trade partner China is looking at ways to extend the project Down Under. Already Australia is a major supplier of commodities to China. And a free trade deal signed last year should cause exports to increase.
In order to secure global supply chains China Investment Corp (CIC) the country’s 747 billion sovereign wealth fund is joining a consortium offering to pay 6.4 billion for Australia’s Asciano the country’s largest ports and rail operator………………………………………..Full Article: Source

GIC to become shareholder in Railpool

Posted on 03 March 2016 by VRS  |  Email |Print

Singaporean sovereign wealth fund GIC joins funds managed by Oaktree Capital Management in investing in Railpool’s ongoing fleet expansion and becomes a 49% shareholder in the company. The combined shareholder group will enable Railpool to continue its successful growth, enter into new business areas and selectively make acquisitions.
“We are confident that we are now ideally positioned to capture the full potential the rolling stock leasing market offers. Oaktree gave us the possibility to upgrade our operations and successfully grow our business while the additional investment of GIC is now securing the continuation of locomotive fleet expansion as well as investing in other growth markets.”……………………………………….Full Article: Source

GIC Invests in Africa through Actis and RMB Westport

Posted on 03 March 2016 by VRS  |  Email |Print

The Government of Singapore Investment Corporation (GIC) has made its initial commitment to African real estate with its investments in two of the region’s largest firms; Actis and RMB Westport.
According to an exclusive release from PERE, the Singaporean sovereign wealth fund whose real estate division is considered aggressive compared to other sovereign wealth funds is understood to have committed more than $100 million across two separate commitments to the latest development funds of Actis and RMB Westport via Actis Real Estate Fund 3 and the RMB Westport Real Estate Development Fund II………………………………………..Full Article: Source

China Investment Corp teams to buy Australian port company

Posted on 02 March 2016 by VRS  |  Email |Print

The ambitious One Belt, One Road initiative undertaken by China, is a way to create a 21st century revival of the ancient Silk Road trade route. Most view the project as creating infrastructure over land and shipping routes close to the Asian continent.
Yet, with Australia growing in importance as a trade partner, China is looking at ways to extend the project Down Under. Already Australia is a major supplier of commodities to China. And a free trade deal signed last year should cause exports to increase………………………………………..Full Article: Source

Singapore GIC interested in buying stake: IDBI chief

Posted on 02 March 2016 by VRS  |  Email |Print

Public sector lender IDBI Bank on Tuesday said international institutions like CDC of England and GIC of Singapore have shown some interest in buying stake in the bank. There were media reports that the government was in talks with the International Finance Corporation (IFC), a World Bank Group member, to sell up to 15% up stake in the struggling infra-lender- turned commercial bank.
The government owns around 80% stake in IDBI Bank and Finance Minister Arun Jaitley while presenting the Budget on Monday had said the government was open to paring its stake in IDBI Bank below 50% through a strategic stake sale………………………………………..Full Article: Source

Blackstone, TPG, Temasek plan to acquire KIMS hospital chain

Posted on 02 March 2016 by VRS  |  Email |Print

Ascent Capital and OrbiMed Advisors will sell their combined 40% stake, while the promoters will dilute an additional 15-20% for a deal worth $300 million. Kerala Institute of Medical Sciences (KIMS), the hospital chain with a presence in India and West Asia, has been approached by 8-10 large buyout funds that want to acquire a majority stake in it.
Ascent Capital Pvt. Ltd and OrbiMed Advisors LLC, private equity (PE) investors in KIMS, will sell their combined 40% stake, while the promoters will dilute an additional 15-20% for a deal worth $300 million (Rs.2,050 crore), according to two people close to the development………………………………………..Full Article: Source

Qatar Investment Authority in talks to increase stake in Colonial

Posted on 02 March 2016 by VRS  |  Email |Print

Says is in talks with Qatar Investment Authority (Qatar) about a possible contribution to Colonial of its shares in Societe Fonciere Lyonnaise via non-cash capital increase.
Says to date no agreement has been reached; Qatar will not reach 30 percent of voting rights in Colonial……………………………………….Full Article: Source

GIC to invest US$388 million in Indonesian retail operator

Posted on 29 February 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund (SWF), GIC Private Limited (GIC), has entered into a partnership with PT Trans Retail, the main retail arm of Indonesian conglomerate CT Corp, to invest an aggregate of 5.2 trillion rupiah (US$388.33 million) in Indonesian leading retailer, Trans Retail.
Trans Retail mainly operates hypermarkets, supermarkets, and cash and carry stores under the Carrefour and TRANSmart brands. GIC said in a statement on February 24 that the collaboration would allow Trans Retail to capture the full potential of Indonesia’s modern retail market………………………………………..Full Article: Source

ICD in talks to fund new Atlantis hotel, DIFC tower – report

Posted on 29 February 2016 by VRS  |  Email |Print

State-owned Investment Corporation of Dubai (ICD) is talking to banks to raise around $1.1 billion in loans to build two major projects in the emirate, Bloomberg has reported. The newswire, which cited three people with knowledge of the plan, said that ICD is seeking a $700 million, 10-year loan to fund the construction of a second Atlantis resort on the Palm Jumeirah.
Announced at the beginning of February, the Royal Atlantis Resort and Residences is expected to take two years to complete. Master developer Nakheel has already signed building contracts with Ssanyong Engineering & Construction, China State Construction Engineering Corporation and Six Construct………………………………………..Full Article: Source

Kuwaiti, Canadian funds buy London City Airport for $2.8 billion

Posted on 29 February 2016 by VRS  |  Email |Print

A consortium of investors, which includes Kuwait Investment Authority’s Wren House Infrastructure Management, have agreed a deal to buy London City Airport for a record $2.8 billion. The Canary Wharf airport, a favourite among executives for its convenient location near London’s two financial districts, was put up for sale last summer by private equity firm Global Infrastructure Partners (GIP).
The price paid is reported to be about 32 times London City’s annual underlying profits, setting a record for an airport, according to the Times. GIP bought the airport for a reported $1bn in 2006 but in the ten years since then passenger numbers have doubled to 4.3 million in 2015, an 18% increase on the previous year………………………………………..Full Article: Source

Canadian pension funds and Kuwait to buy London City Airport

Posted on 26 February 2016 by VRS  |  Email |Print

Three Canadian pension funds and the Kuwait Investment Authority have won the takeover battle for London City Airport with an offer of about £2bn. A consortium made up of Ontario Teachers’ Pension Plan (OTPP), Borealis, AIMCo and Wren House, an infrastructure investment vehicle owned by the sovereign wealth fund of Kuwait, are understood to have struck a deal to buy the airport from Global Infrastructure Partners (GIP), the giant private equity firm.
The group saw off stiff competition for the site, including bids from Chinese airlines owner HNA and Cheung Kong Infrastructure Holdings, the firm controlled by Li Ka-Shing, Asia’s richest man………………………………………..Full Article: Source

Temasek’s energy, bank holdings take a hit

Posted on 26 February 2016 by VRS  |  Email |Print

Singapore investment firm Temasek Holdings has racked up paper losses on its investments in banks and energy companies amid the global economic turmoil. Deepening pressures within the banking industry, for instance, have taken a toll on the companies in the financial services sector that Temasek has invested in.
With crude prices down more than 70 per cent - at dismal levels of US$34 a barrel - Temasek’s picks in the energy and services sector, comprising 5 per cent of the firm’s portfolio, have also not been spared the bloodbath that has affected the industry worldwide………………………………………..Full Article: Source

GIC expands Indonesia exposure, buys into retail

Posted on 25 February 2016 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC has increased its exposure to Indonesia’s growing middle class by investing 5.2 trillion rupiah ($385 million) in Trans Retail, the main retail arm of conglomerate CT Corp. CT Corp’s businesses span television and online media to retail, banking and amusement parks.
Its retail arm Trans Retail, formerly a local unit of French retail group Carrefour, currently runs 86 hypermarkets and supermarkets in the country under the Carrefour and TRANSmart brands. GIC said in a press release on Wednesday that Trans Retail is taking advantage of the rapidly expanding consumer class as Indonesia’s retail scene shifts from traditional mom-and-pop stores to modern trade formats………………………………………..Full Article: Source

GIC backs Blackstone in Rundle Place purchase

Posted on 25 February 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has backed Blackstone’s $400 million acquisition of Rundle Place in Adelaide with financing. The Australian Financial Review understands the fund provided mezzanine debt for the private equity giant, which bought the property in early January in what was South Australia’s largest commercial property transaction to date.
The deal demonstrates there is opportunity for foreign providers to be competitive on providing loans at a time when domestic banks and lenders are tightening conditions for property investors………………………………………..Full Article: Source

Abu Dhabi Investment Authority Buys Paris Office Tower Project

Posted on 25 February 2016 by VRS  |  Email |Print

The Abu Dhabi Investment Authority plans to build a 38-story office tower in Paris’s La Defense as investors bet that rents will rise in the French capital. A unit of the world’s second-biggest sovereign wealth fund bought the Tour Alto plot from a fund managed by UBS Group AG, according to LaSalle Investment Management, which advised ADIA on the purchase.
The existing building on the site will be demolished. Investors including Goldman Sachs Group LP and Carlyle Group LP are being drawn to La Defense, the largest office district in Europe, by cheaper properties they can build or renovate and that would benefit from an economic turnaround………………………………………..Full Article: Source

With oil at $30-$40, SWFs may pull $404 bln from stocks in 2016

Posted on 24 February 2016 by VRS  |  Email |Print

Sovereign wealth funds (SWFs) might take a further $404 billion out of global listed equities in 2016 if oil prices stay between $30 and $40 a barrel, after pulling out about half that amount last year, a research organisation said on Monday.
The largest SWFs, accounting for about 89 percent of managed assets, sold $213.37 billion of listed equities in 2015, the Sovereign Wealth Fund Institute (SWFI) said, after an oil price crash triggered massive fund redemptions and relentless selling of foreign currency reserves by producers………………………………………..Full Article: Source

Sovereign Wealth Funds May Sell $404 Billion of Equities

Posted on 23 February 2016 by VRS  |  Email |Print

Sovereign wealth funds may withdraw $404.3 billion from global stock markets this year if crude prices stay between $30 to $40 per barrel as oil-rich nations seek to shore up their finances, according to the Sovereign Wealth Fund Institute.
The value of listed equities held by the world’s largest wealth funds will probably drop to $2.64 trillion this year, from about $3.04 trillion at the end of 2015, the Las Vegas-based SWFI said in an e-mailed report sent Monday. Withdrawals are set to approximately double from last year, when sovereign funds sold about $213.4 billion of equities, it said………………………………………..Full Article: Source

Singapore wealth fund, Advent invest $350 million in QuEST Global

Posted on 22 February 2016 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC Pte Ltd and private equity investors Advent International and Bain Capital have jointly bought a minority stake in engineering outsourcing firm QuEST Global Services for $350 million. QuEST, which provides services to companies in sectors including aviation, automobile, oil and gas, power and healthcare, is headquartered in Singapore but more than half of its staff are located in India.
The private equity funds bought the stake from a unit of Warburg Pincus LLC and other company shareholders, said QuEST, founded by former General Electric Co engineer Ajit Prabhu in 1997, in a statement………………………………………..Full Article: Source

Here’s why sovereign wealth funds are selling stocks

Posted on 22 February 2016 by VRS  |  Email |Print

The world’s capital markets have been roiled this year by rumors that sovereign wealth funds of oil-dependent states are selling foreign assets to redirect money home to plug budget deficits and repatriate capital. Some institutions, such as Malaysia’s large pension funds and the Saudi Arabian Monetary Agency, the kingdom’s central bank, are indeed answering calls by their governments to help bolster their domestic economies in different ways.
It appears, however, that the markets are also worried that major sovereign savings funds like the Abu Dhabi Investment Authority (ADIA) and the Kuwait Investment Authority may be major sellers of stocks, suggesting that they are pulling out of the markets because they are being called upon to fund government spending plans in the face of low oil prices………………………………………..Full Article: Source

Thailand’s $2.8b Future Fund may increase corpus. China’s CIC among potential investors

Posted on 19 February 2016 by VRS  |  Email |Print

The Thai government is looking to raise the corpus of the 100 billion baht ($2.8 billion) Thailand Future Fund (TFF), after overseas investors, including China Investment Corporation, expressed interest in investing in this vehicle, officials aware of the development said.
Thai government officials said several institutional investors had shown interest in committing capital towards this infrastructure fund, that is scheduled to launch later this year, with the most prominent being China Investment Corporation (CIC), the Chinese sovereign wealth fund responsible for managing part of that country’s foreign exchange reserves………………………………………..Full Article: Source

Norway says its wealth fund can invest in Iranian bonds

Posted on 19 February 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, will be allowed to invest in Iranian government bonds following the signing of the Joint Comprehensive Plan of Action by Iran, the Nordic country’s finance ministry said on Thursday.
The fund has not been allowed to invest in government bonds in North Korea, Syria and Iran since January 2014………………………………………..Full Article: Source

Here’s why sovereign wealth funds are selling stocks

Posted on 19 February 2016 by VRS  |  Email |Print

The world’s capital markets have been roiled this year by rumors that sovereign wealth funds of oil-dependent states are selling foreign assets to redirect money home to plug budget deficits and repatriate capital. Some institutions, such as Malaysia’s large pension funds and the Saudi Arabian Monetary Agency, the kingdom’s central bank, are indeed answering calls by their governments to help bolster their domestic economies in different ways.
It appears, however, that the markets are also worried that major sovereign savings funds like the Abu Dhabi Investment Authority (ADIA) and the Kuwait Investment Authority may be major sellers of stocks, suggesting that they are pulling out of the markets because they are being called upon to fund government spending plans in the face of low oil prices………………………………………..Full Article: Source

Temasek Pares Alibaba Stake While Adding Rival JD.com

Posted on 18 February 2016 by VRS  |  Email |Print

Temasek Holdings Pte pared its holdings in China’s biggest online retailer Alibaba Group Holding Ltd. in the fourth quarter while buying shares of other Chinese online companies, including Alibaba’s biggest competitor, JD.com Inc. Singapore’s state-owned investment firm sold 548,769 American depositary receipts in Alibaba, leaving it with 47.5 million.
The value of the holding increased by $1.03 billion to $3.86 billion as the shares gained 38 percent in the period. Among Temasek’s new acquisitions were 6.1 million ADRs in Chinese online retailer JD.com and 8.2 million ADRs in Chinese online travel company Tuniu Corp………………………………………..Full Article: Source

QIA teams up with Brookfield to bid for Australia’s Asciano - report

Posted on 18 February 2016 by VRS  |  Email |Print

Canada’s Brookfield Asset Management has reportedly teamed up with Qatar’s sovereign wealth fund to launch a fresh $6.4bn bid for Australian port and rail firm Asciano. The firm said it was dumping Brookfield’s initial offer of AUD 8.9bn ($6.3bn) on Tuesday in favour of a higher AUD 9bn bid from Australian freight rival Qube Holdings Ltd and China Investment Corp.
Sources told Reuters that Brookfield would combine with Qatar Investment Authority and pension fund PSP Investments for a new offer of AUD 9.05bn as early as Thursday. The deal would be QIA’s first in Australia after buying assets around the world including a 44 per cent stake in a $4.5bn Brookfield property development in New York last year………………………………………..Full Article: Source

Track the missing sovereign wealth billions

Posted on 18 February 2016 by VRS  |  Email |Print

While the debate on Nigeria’s sovereign wealth fund debacle raged sometime in December, 2013, available statistics on the spiraling figures did not add up then with reasons adduced in government circles.
A member of the committee then, Senator Ita Enang and former Coordinating Minister for the Economy and Finance Minister, Mrs. Ngozi Okonjo-Iweala, had quoted different figures of funds accruing to the Excess Crude Account (ECA) during the Joint Senate Committee of Finance and Appropriations on the 2013 budget and federal revenue-generating agencies………………………………………..Full Article: Source

Norway’s Giant Sovereign Wealth Fund is Buying the Bank-Stock Dip

Posted on 17 February 2016 by VRS  |  Email |Print

Sovereign wealth funds, pressured by stubbornly low oil prices, have been roundly blamed as one culprit in the recent rout across global markets. These funds, government-owned investment pools, have reportedly been forced to sell some of their stocks and bonds. One analyst noted recently estimated that financial shares look most vulnerable to sovereign wealth fund selling, with global stocks possibly coming under $80 billion of selling in 2016, assuming that oil prices stick around $30 a barrel.
Against this fraught backdrop, news that Norges Bank, Norway’s SWF and the largest in the world, is buying banks stocks has been warmly received. Bloomberg’s Jeffrey Voegeli noted that Norges Bank boosted its stake in Credit Suisse (CSGN) as they plunged in recent weeks………………………………………..Full Article: Source

Abu Dhabi fund eyes RET projects

Posted on 17 February 2016 by VRS  |  Email |Print

An investment arm of the Abu Dhabi government is to examine taking a stake in renewable energy projects in Australia in a move that could help the sector regain ­momentum after the political ­impasse over changes to the Renewable Energy Target.
Environment Minister Greg Hunt met Masdar Capital chairman sultan Ahmed Al Jaber and chief executive Ahmed Belhoul during a trip to the Middle East last week, and they expressed interest in coming to Australia to examine renewable energy opportunities………………………………………..Full Article: Source

Abu Dhabi Investment Fund’s Subsidiary Buys Into Peru Energy

Posted on 17 February 2016 by VRS  |  Email |Print

A subsidiary of the Abu Dhabi Investment Authority has purchased a stake in a Peruvian thermoelectric power generating company in Lima. The Trade and Investment Office of Peru in the United Arab Emirates announced Tuesday that the purchase by the sovereign wealth fund’s subsidiary Blue Bolt Ltd. represents a 36-percent stake in Fenix Power Peru.
The statement said Fenix Power Peru produces some 10 percent of all energy consumed in the South American nation. It said the Peruvian investment fund SIGMA holds a 13-percent stake in the company………………………………………..Full Article: Source

Temasek cut Alibaba stake in fourth quarter after shares gained

Posted on 17 February 2016 by VRS  |  Email |Print

Temasek Holdings Pte Ltd cut its stake in Alibaba Group Holding Ltd in the fourth quarter as the biggest Chinese e-commerce company’s shares rallied. Singapore’s state-owned investment firm sold 548,769 American depositary receipts in Alibaba, leaving it with 47.5 million, according to a filing with the US Securities and Exchange Commission on Tuesday.
The value of the holding increased by US$1.03bil (RM4.32bil) as the shares gained 38% in the period. Temasek also increased its stakes in pharmaceuticals maker Gilead Sciences Inc by 1.4 million shares, and added 888,545 shares in BioMarin Pharmaceutical Inc, a maker of therapeutic enzyme products………………………………………..Full Article: Source

How to invest like a sovereign wealth fund

Posted on 17 February 2016 by VRS  |  Email |Print

Sovereign wealth funds (SWF) are like a country’s savings account. They’re money a country doesn’t need right now that’s saved for a future rainy day. And although SWFs control trillions of dollars, individual investors can still learn a lot about portfolio management from them.
As of December 2015, there were 79 SWFs around the world, managing US$7.2 trillion, according to the Sovereign Wealth Fund Institute. That’s more than all the world’s hedge funds and private equity funds combined. And it’s more than double the US$3.4 trillion controlled by SWFs at the beginning of 2008………………………………………..Full Article: Source

KIA to invest in distressed Indian power assets

Posted on 16 February 2016 by VRS  |  Email |Print

Kuwait’s sovereign wealth fund is teaming up with group of investors to target failing power assets in India. The Kuwait Investment Authority, along with Canadian pension fund, Caisse de depot et placement du Quebec, the State General Reserve Fund of Oman, Tata Power and ICIC Venture will create a joint venture funded specifically with the aim of buying up troubled power assets.
The KIA, along with the Canadian and Omani funds will invest around $650 million of equity to create a dedicated pool of $850 million, the Economic Times of India reported yesterday. The joint venture will eventually amass a pool of a reported $4 billion to $5 billion to use to buyout financially troubled power assets. A formal announcement is expected by end February………………………………………..Full Article: Source

Saudi sovereign fund Sanabil buys 20% of Almana General Hospitals

Posted on 16 February 2016 by VRS  |  Email |Print

Saudi Arabia’s government-owned fund Sanabil Investments has acquired a 20 per cent stake in Ebrahim Mohammed Almana & Brothers Co, the owner of the Almana General Hospitals (AGH), a statement from one of the advisers said on Sunday.
No financial terms were disclosed in the statement from GIB Capital, the financial adviser to AGH, but it said the transaction formed part of Sanabil’s strategy to invest in, and to help diversify, the Saudi economy. Wholly owned by the Public Investment Fund (PIF), Sanabil was set up in 2009 with 20 billion riyals ($5.33 billion, Dh19.57 billion) of initial capital and a mandate to invest in less conservative assets — as opposed to the kingdom’s traditional stance, which has been to park large sums in low-risk US Treasuries……………………………………….Full Article: Source

KIA to invest in distressed Indian power assets

Posted on 15 February 2016 by VRS  |  Email |Print

Kuwait’s sovereign wealth fund is teaming up with group of investors to target failing power assets in India. The Kuwait Investment Authority, along with Canadian pension fund, Caisse de depot et placement du Quebec, the State General Reserve Fund of Oman, Tata Power and ICIC Venture will create a joint venture funded specifically with the aim of buying up troubled power assets.
The KIA, along with the Canadian and Omani funds will invest around $650 million of equity to create a dedicated pool of $850 million, the Economic Times of India reported yesterday. The joint venture will eventually amass a pool of a reported $4 billion to $5 billion to use to buyout financially troubled power assets. A formal announcement is expected by end February………………………………………..Full Article: Source

Saudi sovereign fund Sanabil buys 20 pct of Almana General Hospitals

Posted on 15 February 2016 by VRS  |  Email |Print

Saudi Arabia’s government-owned fund Sanabil Investments has acquired a 20 percent stake in Ebrahim Mohammed Almana & Brothers Co, the owner of the Almana General Hospitals (AGH), a statement from one of the advisers said. No financial terms were disclosed in the statement from GIB Capital, the financial adviser to AGH, but it said the transaction formed part of Sanabil’s strategy to invest in, and to help diversify, the Saudi economy.
Wholly owned by the Public Investment Fund (PIF), Sanabil was set up in 2009 with 20 billion riyals ($5.33 billion) of initial capital and a mandate to invest in less conservative assets — as opposed to the kingdom’s traditional stance which has been to park large sums in low-risk U.S. Treasuries………………………………………..Full Article: Source

NIIF may pick up stake in infra financing PSUs

Posted on 15 February 2016 by VRS  |  Email |Print

Government is considering a proposal to dilute its stake in a host of infrastructure financing institutions such as REC, PFC and IIFCL through the newly created National Investment and Infrastructure Fund (NIIF).
“It is at a very preliminary stage. Among various things, the Finance Ministry is also looking at a issue if NIIF can pick up stake in state-owned entities that are into infrastructure financing,” official sources said. A sub-fund of NIIF could pick up stake in companies like Rural Electrification Corporation (REC), Power Finance Corporation (PFC) and India Infrastructure Finance Company Ltd (IIFCL), sources said………………………………………..Full Article: Source

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