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Sovereign Wealth Funds Briefing - Category | Investment more

Temasek unit acquires majority stake in Malaysian medical devices maker Aurum Healthcare

Posted on 05 July 2016 by VRS  |  Email |Print

Accuron Technologies Ltd, a technology and engineering holding company wholly-owned by Temasek Holdings, has acquired a majority stake in Malaysia-based Aurum Healthcare Sdn Bhd. This is the sixth medical technology-related deal for Accuron Medtech Group, a division within Accuron Technologies, in the last two and a half years.
Announcing the latest deal on Monday (July 4), Accuron Technologies said its medtech division was set up to take advantage of opportunities in the global medtech market, which is projected to reach US$537 billion (S$720 billion) by 2020………………………………………..Full Article: Source

A Look at Bahrain’s International and Domestic Investment Strategies

Posted on 04 July 2016 by VRS  |  Email |Print

Started in 2006, Bahrain’s $11.2 billion sovereign wealth fund (whose name means “assets” in Arabic) has endured numerous restructuring programs. To reduce operating costs and increase its ability to procure top international talent to the firm, Mumtalakat has cut jobs. In 2009 the firm’s CEO, Mahmood Hashim al-Kooheji, brought in consultants from McKinsey and Co., who produced advantageous results in highlighting and mitigating inefficiencies, as well as fostering greater transparency.
Through the help of the advisers, Mumtalakat spotted government corruption and bribery, which amounted to $400 million in lost profits of one of the firm’s top producers, Alba. Last year, the sovereign wealth fund received a ten out of ten in the Linaburg-Maduell Transparency Index, which surveyed 52 funds with only 11 receiving top scores………………………………………..Full Article: Source

Singapore’s Sovereign-Wealth Fund Is in Talks to Buy Manufactured-Home Owner

Posted on 29 June 2016 by VRS  |  Email |Print

Singapore’s sovereign-wealth fund is negotiating to acquire Yes! Communities, an owner of manufactured-housing communities, in a $2 billion deal, according to people familiar with the mater.
GIC is in talks to buy Denver-based Yes! from private-equity firm Stockbridge Capital Group, the people said. Yes! owns or operates 178 communities in 17 American states, according to the company’s website………………………………………..Full Article: Source

Hyperloop One gets an investment from Russia’s sovereign fund

Posted on 29 June 2016 by VRS  |  Email |Print

A second Russian fund appears to be involved in Hyperloop One‘s latest $80 million round of financing, which was closed in April. Russia’s sovereign fund RDIF has just announced that it took part in the round, without disclosing, however, the amount of its contribution.
“RDIF pays great attention to the development of transport infrastructure, including the technological advances that will shape the future of the transport industry. Our investment in Hyperloop One’s project will facilitate the arrival of cutting-edge technologies in Russia. RDIF and its international partners will provide support to the project not only in Russia but also in Middle Eastern and Asian markets,” said RDIF CEO Kirill Dmitriev………………………………………..Full Article: Source

New Zealand Super set to pursue factor investing

Posted on 28 June 2016 by VRS  |  Email |Print

New Zealand Superannuation Fund is turning to factor-based strategies to squeeze better long-term returns from the roughly 75% of its NZ$30.3 billion ($21.4 billion) portfolio invested now in passive strategies.
New Zealand Super is close to moving forward with allocations to two factors — value and “low risk” — that are particularly well-suited to the fund’s beliefs and advantages as a long-term investor, said Roland Winn, manager-investment analysis with the Auckland-based sovereign wealth fund, in a June 22 interview………………………………………..Full Article: Source

Kuwait’s finance min expresses confidence in UK investments

Posted on 28 June 2016 by VRS  |  Email |Print

Kuwaiti Finance Minister Anas Al-Saleh said on Monday that the Gulf Arab kingdom’s investments in Britain were “high-quality and long-term”, state news agency KUNA reported.
The Kuwait Investment Authority (KIA), has $592 billion in assets under management, according to the Sovereign Wealth Fund Institute (SWFI), and is also a major investor though its London-based Kuwait Investment Office. In 2013 it said the fund had more than doubled its investment in Britain over the previous 10 years to more than $24 billion………………………………………..Full Article: Source

SWFs: Investing Directly and Creating Value

Posted on 28 June 2016 by VRS  |  Email |Print

Today, when sovereign wealth funds (SWFs) put assets into alternative investments, they are more likely to be direct, rather than passive, investors. One of Canada’s largest pension funds recently bought a significant minority stake in Allflex Group, the global leader in animal monitoring technology, joining Allflex’s leading shareholder, private equity firm BC Partners.
In India, a growing number of SWFs are reportedly interested in acquiring investment stakes in infrastructure companies that are expanding the nation’s roads and airports. The New York Times recently described SWFs as part of the group of so-called emerging buyers who bought about 17 percent of the assets sold by private equity firms since 2015, up from 2 percent almost a decade ago………………………………………..Full Article: Source

Norway $860-billion wealth fund repeats will remain long-term investor in UK regardless of Brexit

Posted on 27 June 2016 by VRS  |  Email |Print

Repeats that it will remain a long-term investor in Britain regardless of Brexit vote outcome. Is following the situation after Brexit vote.
Britain is the fund’s second-largest country holding after the United States, representing 10.2 percent of its total value at end-2015………………………………………..Full Article: Source

The Future Fund emerges in Port of Melbourne bid

Posted on 27 June 2016 by VRS  |  Email |Print

The Future Fund, Australia’s $117 billion sovereign wealth fund, is believed to be seeking to buy a 20 per cent stake in the Australia’s largest shipping container terminal, the Port of Melbourne.
Street Talk understands The Future Fund is preparing to bankroll an offer from Australian infrastructure fund manager QIC, which is headed to Port of Melbourne’s auction alongside two offshore investors. While it is only early days, a 20 per cent stake is expected to be worth about $600 million, which would make it one of The Future Fund’s largest infrastructure investments………………………………………..Full Article: Source

Qatar fund buying Balmain shows Middle Eastern investors’ hunger for luxury labels

Posted on 27 June 2016 by VRS  |  Email |Print

The acquisition of Balmain, the Paris fashion house, by Mayhoola for Investments, a Qatar-based fund, is the latest sign of Middle Eastern investors’ appetite for luxury goods. The spree makes sense: that region’s market is probably the best suited to the industry’s business model and culture today.
Qatar itself has invested heavily in the luxury business through its sovereign wealth fund, buying 1 per cent of the French holding LVMH, 38 per cent of UK accessories brand Anya Hindmarch, 11.3 per cent of Tiffany, and controlling stakes in the French department store chain Printemps and London’s Harrods………………………………………..Full Article: Source

Fashion house Balmain sold to Qatar’s Mayhoola sovereign wealth fund

Posted on 23 June 2016 by VRS  |  Email |Print

The Qatari investment fund that owns the Italian Valentino label will take over the French fashion house Balmain, which has become a favourite of film stars, the adviser for the acquisition has announced.
“After completing this transaction Mayhoola for Investments will hold 100% of Balmain’s capital,” said the merger and acquisitions company Bucephale Finance. The French financial daily Les Echos in reporting on the acquisition said the Qataris offered €485m (£372m) for Balmain, which is 70% held by the heirs of the former CEO, Alain Hivelin, who died in December 2014, with the remaining 30% held by management………………………………………..Full Article: Source

GIC said to be selling two Paris buildings

Posted on 23 June 2016 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC is in talks to sell two buildings in the Paris central business district valued at about €500 million (S$756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions.
The adjacent properties, in Rue d’Astorg and Rue de la Ville- l’Eveque, include the French headquarters of law firm Clifford Chance, said the people, who asked not to be identified because the deal has not yet been completed and could still fall apart………………………………………..Full Article: Source

India eases foreign investment rules for airlines

Posted on 22 June 2016 by VRS  |  Email |Print

India eased rules for foreign investment in the country’s aviation sector in a bid to boost air travel and develop new airports in Asia’s third-largest economy. Indian carrier IndiGo’s CEO Akbar Al Baker had earlier said Qatar attempted to invest at the time of IndiGo’s IPO but government regulations and lack of time prevented the country’s sovereign wealth fund from doing so.
“We had to do it with our parent company, and our parent organisation, which is our sovereign fund, and to do that, we needed more time and the time was too short for us to move on this,” Al Baker said………………………………………..Full Article: Source

GIC said in talks to sell $756 mil Paris offices to SocGen

Posted on 22 June 2016 by VRS  |  Email |Print

GIC, Singapore’s sovereign wealth fund, is in talks to sell two buildings in Paris’s central business district valued at about 500 million euros ($756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions.
The adjacent properties, on Rue d’Astorg and Rue de la Ville-l’Eveque, include the French headquarters for law firm Clifford Chance LLP, said the people, who asked not to be identified because the deal has not yet been completed and could still fall apart. Spokesmen at GIC, Societe Generale and Clifford Chance declined to comment………………………………………..Full Article: Source

Temasek pares stake in China Construction Bank

Posted on 22 June 2016 by VRS  |  Email |Print

Temasek Holdings has pared its stake in China Construction Bank (CCB), the lender said in a filing to the Shanghai Stock Exchange. Temasek unit Fullerton Financial Holdings sold 555 million Hong Kong-listed shares of CCB at HK$5.01 (87 Singapore cents) apiece on June 16, for HK$2.78 billion in total.
According to the filing, Fullerton owned 5.03 per cent of China Construction Bank before the sale and 4.81 per cent after. Temasek has been a long-time shareholder of CCB, participating in its pre-initial public offering round in 2005 with a US$1 billion investment………………………………………..Full Article: Source

What You Need to Know About Abu Dhabi’s Plan for a Megabank

Posted on 22 June 2016 by VRS  |  Email |Print

National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, the two largest banks in the oil-rich emirate of Abu Dhabi, said on Sunday that they’re in early stage merger talks. Given both NBAD and FGB’s ties to the government — NBAD is 69 percent owned by sovereign wealth fund Abu Dhabi Investment Council — political will is paramount to the deal’s successful conclusion.
The creation of a new regional banking powerhouse would also coincide with Abu Dhabi’s ambitions to boost its status as a finance hub. A combination would create a regional powerhouse with assets of about $170 billion and a larger market valuation than Deutsche Bank AG and Credit Suisse Group AG………………………………………..Full Article: Source

Temasek sells 555 million shares in China Construction Bank

Posted on 21 June 2016 by VRS  |  Email |Print

Singapore’s state-owned investment firm Temasek Holdings Pte reduced its stake in the Hong Kong-listed shares in China Construction Bank Corp, according to a filing by the Chinese lender to the Shanghai stock exchange.
Fullerton Financial Holdings, an affiliate of Temasek, sold the shares at HK$5.01 apiece (87 Singapore cents) on June 16, according to the filing, valuing the block at HK$ 2.78 billion. Fullerton owned 5.88 per cent in China Construction Bank before the sale, reducing its stake to 5.66 per cent, according to data compiled by Bloomberg………………………………………..Full Article: Source

Investors seeking VW reform may be disappointed at AGM

Posted on 21 June 2016 by VRS  |  Email |Print

Investors hungry for reform at Volkswagen after the diesel emissions test-cheating scandal may be disappointed at the carmaker’s annual shareholder meeting on Wednesday.
Norway’s sovereign wealth fund, the world’s largest, said last month it planned to join the class-action lawsuits filed against Volkswagen. The California State Teachers’ Retirement System (CalSTRS) has also said it plans to participate in a German securities litigation suit against Volkswagen………………………………………..Full Article: Source

Libya SWF adviser says execs who invested in derivatives were financially “illiterate”

Posted on 20 June 2016 by VRS  |  Email |Print

Top decision makers at Libya’s $67 billion sovereign wealth fund were “illiterate” in terms of investment with little knowledge of the derivatives instruments purchased on the advice of Goldman Sachs, an adviser to the fund told a court on Thursday.
In a closely watched case in the City of London, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion from the U.S. investment bank from nine disputed trades carried out in 2008. The LIA argues that the U.S. bank took advantage of its financial naivety by first gaining its trust, then encouraging it to make risky and ultimately worthless investments………………………………………..Full Article: Source

Petrobras said close to US$6b sale of Brazil gas pipelines

Posted on 17 June 2016 by VRS  |  Email |Print

Brazil’s troubled state-run oil company Petrobras is close to selling a 81 per cent stake in a natural gas pipeline network in Brazil for nearly US$6 billion to a consortium led by Brookfield Asset Management Inc.
Singapore sovereign-wealth fund GIC Pte Ltd, the Chinese sovereign-wealth fund China Investment Corp and the Greenwich, Connecticut-based private equity firm First Reserve Corp are also part of the group of buyers, said two of the people, asking not to be identified because the discussions are private. The deal is expected to be signed as soon as next month, one of the people said. Brookfield and First Reserve declined to comment on the deal. Petrobras, CIC and GIC didn’t immediately reply to requests for comment………………………………………..Full Article: Source

LIC may invest in Indian SWF

Posted on 17 June 2016 by VRS  |  Email |Print

India’s largest insurer LIC on Wednesday said that it is willing to participate in India’s maiden sovereign wealth fund NIIF as the state-owned company’s own core focus is also on infrastructure investment. “LIC has enough funds to invest in NIIF. LIC’s core focus is infrastructure investment. So there is no problem in investment quantum,” LIC chairman S.K. Roy said.
The government has set up the Rs 40,000 crore Nati-onal Investment and Infr-astructure Fund (NIIF) to facilitate funding in infrastructure projects. NIIF has already signed MoU with Russia’s Rusnano, ADIA of Abu Dhabi and Qatar sovereign wealth fund QIA to study investment opportunities in the Indian infrastructure sector………………………………………..Full Article: Source

ChrysCapital, GIC may buy SBI’s 5% stake in NSE

Posted on 15 June 2016 by VRS  |  Email |Print

Local private equity fund ChrysCapital Investment Advisors India Pvt. Ltd and Singapore’s sovereign wealth fund GIC Pte. Ltd may together buy a 5% stake in National Stock Exchange of India Ltd (NSE) valued at Rs.900 crore, three people aware of the development said.
The stake was put on the block last month by State Bank of India (SBI), the country’s largest lender, which invited bids from potential investors.“ChrysCapital and GIC have together bid for the entire 5% stake put on sale by SBI. The deal is expected to be closed shortly,” said one of the three people cited above………………………………………..Full Article: Source

Kuwait fund intends to dispose of Areva stake

Posted on 15 June 2016 by VRS  |  Email |Print

Sovereign wealth fund Kuwait Investment Authority (KIA) has told French authorities that it wants to sell its stake in nuclear group Areva, according to a report. Areva, with its partner Électricité de France, is in the race to win the contract for the 9,600MW of SA’s new nuclear power. The fund is Areva’s second-biggest shareholder, with a 4.82% stake, according to ThomsonReuters data.
The La Lettre de l’Expansion weekly newsletter said the Kuwaiti fund had complained that its investment in Areva, which is majority-owned by the French government, was made based on incorrect company accounts………………………………………..Full Article: Source

Kuwait fund wants to sell French nuclear group Areva stake -media

Posted on 14 June 2016 by VRS  |  Email |Print

Sovereign wealth fund Kuwait Investment Authority (KIA) has told French authorities it wants to sell its stake in nuclear group Areva, La Lettre de l’Expansion reported on Monday.
KIA is Areva’s second-biggest shareholder with a 4.82 percent stake, according to ThomsonReuters data. The newsletter said the Kuwaiti fund had complained that its investment in Areva, which is majority owned by the French government, was made based on incorrect company accounts………………………………………..Full Article: Source

Brokers circle ADIA’s Transurban stake

Posted on 14 June 2016 by VRS  |  Email |Print

Equities desks are homing in on a potential block trade of the Abu Dhabi Investment Authority’s stake in Transurban Group. Street Talk understands the sizeable holding, although less than the substantial shareholder threshold, has piqued the interest of several banks particularly after a 13.5 per cent rally in Transurban stock this year.
ADIA is no stranger to blocks but bankers know it’s an uphill battle pitching to the sovereign wealth fund. Sometimes they run a trade through an ECM team - other times they go straight to the sales trader who they think will get the job done………………………………………..Full Article: Source

Angola’s sovereign fund steps up local private equity push

Posted on 13 June 2016 by VRS  |  Email |Print

Angola’s $5 billion sovereign wealth fund is stepping up private equity investments at home and in sub-Saharan Africa as low commodity prices and currencies give it a cheap way in to hotel, farming and infrastructure projects, its chairman said.
Jose Filomeno dos Santos, the 38-year-old London-educated son of President Jose Eduardo dos Santos, said the fund had earmarked 60 percent of its capital to regional private equity, a shift in focus towards its own back yard………………………………………..Full Article: Source

Temasek tenders NOL shares; CMA offer now unconditional

Posted on 10 June 2016 by VRS  |  Email |Print

Neptune Orient Lines (NOL) on Friday said the offer from France’s CMA CGM is now wholly unconditional, after NOL’s majority shareholder Temasek Holdings tendered all shares in the acceptance of the offer. This means the acceptance condition of the takeover has been met.
CMA CGM now owns 78.07 per cent of all NOL shares, and does not intend to preserve the listing status of NOL. It offered NOL shareholders the offer price of S$1.30 per share, in cash. Shares of NOL closed unchanged at S$1.30 on Thursday………………………………………..Full Article: Source

Singapore’s GIC nears stake deal in Irish telecoms group Eir

Posted on 10 June 2016 by VRS  |  Email |Print

GIC, the sovereign wealth fund of Singapore, is poised to buy a large minority stake in Irish telecoms group Eir, in a deal that is expected to value the former state monopoly provider at more than €3.3bn.
A deal is likely to be announced as soon as Friday morning, said people involved in the process. GIC’s arrival as a big investor would be the latest of a series of ownership changes at Eir since it was privatised as Telecom Eireann in 1999, and later became known as Eircom………………………………………..Full Article: Source

Qatar fund set to buy major stake in Ireland’s Eir

Posted on 10 June 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is set to buy a major stake in Irish telecoms firm Eir, the Irish Times reported on Thursday, in a move that would likely support its plans to hold off from a stock market flotation for now.
The Qatar Investment Authority (QIA) is on course to acquire York Capital, Eir’s second-largest shareholder’s stake of about 15 percent, in addition to a number of smaller shareholdings owned by other hedge funds, the newspaper said, without quoting any sources………………………………………..Full Article: Source

Sovereign wealth funds throw funding lifeline to tech ventures

Posted on 08 June 2016 by VRS  |  Email |Print

A succession of funding deals by deep-pocketed sovereign wealth funds have thrown a life preserver to some of the world’s biggest private tech firms whose high valuations have come under scrutiny in the past year. Saudi Arabia and other Gulf States along with state-backed investors in Singapore and China have ploughed money into hot tech investments such as ride-sharing company Uber and Chinese Internet giant Alibaba and its private affiliates.
With overall funding for start-ups slowing down by a third to $25.5 billion in the last two quarters, according to data from CB Insights, high-profile ventures are turning to government funds or institutional money to create “private IPOs” rather than to venture capitalists or chancing public listings………………………………………..Full Article: Source

Greenko Energy raises $230 million in fresh funds

Posted on 08 June 2016 by VRS  |  Email |Print

Abu Dhabi Investment Authority will invest $150 million, Singapore govt’s sovereign wealth fund GIC to put in rest. Clean energy company Greenko Energy Holdings, an affiliate of the Singapore government’s sovereign wealth fund GIC, has raised $230 million in fresh funding from Abu Dhabi Investment Authority and the parent company.
GIC, which acquired a majority stake in Hyderabad-based Greenko Group Plc’s Mauritius entity (Greenko Energy Holdings) for £162.8 million in October is infusing $80 million into the company through one of its affiliates, the company said on Tuesday. GIC will continue to be the majority shareholder………………………………………..Full Article: Source

Qatar state fund buys Singapore office tower that is home to Google in US$2.45 billion deal

Posted on 07 June 2016 by VRS  |  Email |Print

Asia Square Tower One is being sold by BlackRock in the largest single-tower real estate transaction in the Asia Pacific to date. Qatar Investment Authority, the country’s sovereign wealth fund, has agreed to buy the Asia Square Tower One office complex in Singapore for a reported US$2.45 billion from investment firm BlackRock, in the largest single-tower real estate transaction in the Asia Pacific to date.
Real estate consultancy JLL, who advised on the deal, said in a media release that the transaction was also the second-largest single-tower deal globally………………………………………..Full Article: Source

BlackRock accepts offer Singapore office tower to Qatar fund for $2.5 bln

Posted on 07 June 2016 by VRS  |  Email |Print

BlackRock Inc has actually accepted sell a 43-storey workplace building in Singapore to Qatar Financial investment Authority, a sovereign wealth fund, for S$ 3.4 billion ($ 2.5 billion), in exactly what the United States company stated was the largest-ever single-tower realty handle the Asia-Pacific region.
Asia Square Tower 1, situated in the city-state’s monetary district, has more than 1.25 million square feet of net lettable area and has Citigroup Inc as its anchor tenant, BlackRock and Qatar Investment Authority stated in a joint statement………………………………………..Full Article: Source

Malaysia to Inject up to $307 Million Into Auto Maker Proton

Posted on 07 June 2016 by VRS  |  Email |Print

The Malaysian government plans to inject up to 1.25 billion ringgit ($307 million) into Proton Holdings Bhd. by subscribing to convertible debt to be issued by the auto maker, Proton’s owner DRB-Hicom Bhd said Monday.
If the government chooses to fully convert the debt into shares, it could become Proton’s largest shareholder again. Malaysia’s sovereign-wealth fund Khazanah Nasional Bhd. sold its majority stake in the national car maker to Malaysian conglomerate DRB-Hicom for about $412 million in 2012………………………………………..Full Article: Source

India is hoping to tap Qatar sovereign wealth fund

Posted on 06 June 2016 by VRS  |  Email |Print

India and Qatar signed seven agreements, including on investment and tourism promotion, following delegation level talks headed by Prime Minister Narendra Modi and Qatar Emir Tamim bin Hamad Al Thani. India is hoping to tap the Gulf nation’s sovereign wealth fund, estimated at $300 billion, for infrastructure projects.
According to one memorandum of understanding (MoU), Qatar will invest in India’s National Investment and Infrastructure Fund (NIIF). The government had set up the Rs400 billion NIIF last year for enhancing infrastructure financing in India………………………………………..Full Article: Source

Uber deal marks more aggressive Saudi investment drive

Posted on 06 June 2016 by VRS  |  Email |Print

Saudi Arabia’s surprisingly high-profile injection of $3.5 billion into Uber signals a more aggressive global investment presence by a kingdom trying to wean its economy off oil. San Francisco-based Uber, a smartphone app that connects passengers and drivers around the world, said on Wednesday the funding from Saudi Arabia’s Public Investment Fund would help Uber’s global expansion.
The PIF acted roughly six weeks after Deputy Crown Prince Mohammed bin Salman announced a wide-ranging plan to transform the kingdom’s oil-dependent economy………………………………………..Full Article: Source

Norway to raise spending from wealth fund -statistics agency

Posted on 03 June 2016 by VRS  |  Email |Print

Norway will probably continue to increase the spending of money from its $860 billion sovereign wealth fund next year as the government battles an economic downturn, Statistics Norway’s chief forecaster Torbjoern Eika (SSB) predicted on Thursday.
Norway’s structural non-oil deficit, a key measure of fiscal spending, is expected to rise to more than three percent of the value of the wealth fund in 2017 and 2018 from an expected 2.8 percent in 2016, SSB said………………………………………..Full Article: Source

Will more start-ups follow Uber in taking cash from sovereign wealth funds?

Posted on 03 June 2016 by VRS  |  Email |Print

Start-ups have long been the domain of venture capitalists. But with this week’s staggering $3.5-billion investment in Uber from Saudi Arabia’s Public Investment Fund, the tech world has been put on notice — sovereign wealth funds are loaded with cash and ready to do business directly.
Paltry interest rates and volatile oil prices have made technology companies attractive to these government investment vehicles, which have assets of $7.2 trillion today, according to the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Saudi’s massive Uber investment: What the analysts think

Posted on 03 June 2016 by VRS  |  Email |Print

News that Saudi Arabia’s sovereign wealth fund has pumped $3.5 billion into ride-hailing app Uber – reportedly the largest single investment ever made in a private firm – is a sign of new things to come, analysts say. The massive stake in San Francisco-based Uber, which values itself at around $62.5 billion, gives the kingdom’s Public Investment Fund a share of about 5 percent. It also gives Saudi a seat on Uber’s board of directors.
The announcement marks the first major foreign investment by the kingdom’s wealth fund since its April rollout of ‘Vision 2030,’ a plan to transform the country’s economy by the end of the next decade, and marks a break from a long-held focus on securing conservative, low-risk foreign assets………………………………………..Full Article: Source

Saudi fund’s $3.5bn investment adds to Uber’s massive cash pile

Posted on 03 June 2016 by VRS  |  Email |Print

Saudi Arabia’s Sovereign Wealth Fund is investing $3.5bn in the taxi and ride-hailing app company, Uber, this is the largest single investment that has been made in the private company. Uber maintains its valuation of $62.5bn and has no plans to go public.
The deal solidifies Uber’s place as the most well-funded start-up company in the world and brings total finance raised to more than $11bn as it expands aggressively in more than 70 countries around the globe, it says that this cash will be used to fund the company’s continued international expansion………………………………………..Full Article: Source

India to get substantial portion of Uber’s $3.5 billion fund raise

Posted on 03 June 2016 by VRS  |  Email |Print

Uber will invest in India a “substantial portion” of the $3.5-billion funding raised from Saudi Arabia’s sovereign wealth fund, as it is looking to overtake local rival Ola. Uber has raised $3.5 billion from Saudi Arabia’s sovereign wealth fund, valuing the company at $62.5 billion and making it one of the most highly valued venture capital-backed companies globally.
“A substantial portion will be for India. We have grown exponentially over the last two years and remain bullish on the Indian market where we continue to register remarkable growth,” Uber India President Amit Jain told PTI………………………………………..Full Article: Source

Temasek, GIC buy $1 bln in Alibaba stock in SoftBank sale

Posted on 03 June 2016 by VRS  |  Email |Print

Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan’s SoftBank Group Corp, Alibaba’s biggest shareholder, the company said.
Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday………………………………………..Full Article: Source

Uber Raises $3.5 Billion from Saudi Arabia’s Sovereign Wealth Fund

Posted on 02 June 2016 by VRS  |  Email |Print

Uber Technologies Inc. raised $3.5 billion from the investment arm of Saudi Arabia, part of an arms race over the future of transportation that is attracting the world’s largest technology companies and auto makers.
The investment from Saudi Arabia’s Public Investment Fund extends a fundraising that totals $5 billion, the largest single investment for a venture-backed company. Including the latest contribution, Uber is valued at close to $68 billion, some $20 billion more than General Motors Co., the nation’s largest auto maker………………………………………..Full Article: Source

Qatari investor says hopes UK votes to stay in EU

Posted on 02 June 2016 by VRS  |  Email |Print

A billionaire Qatari investor who masterminded much of the Gulf state’s investment in Britain said on Wednesday he hoped the country would vote to stay in the European Union in its June 23 referendum.
As chairman of Qatar Holding, the investment arm of the gas-rich state’s sovereign wealth fund, Sheikh Hamad bin Jassim al-Thani has overseen many high profile investments in Britain such as the purchase of the Harrods department store and the construction of the landmark Shard skyscraper in London. A former prime minister, he stepped down in 2013 from a variety of senior positions including his roles with the sovereign wealth fund, the Qatar Investment Authority………………………………………..Full Article: Source

Temasek, GIC buy US$1 billion in Alibaba stock in SoftBank sale

Posted on 02 June 2016 by VRS  |  Email |Print

Singapore sovereign wealth funds bought US$1 billion of Chinese e-commerce company Alibaba Group Holding Ltd’s shares as part of an US$8.9 billion sale by Japan’s SoftBank Group Corp , Alibaba’s biggest shareholder, the Chinese company said on Wednesday.
Singapore’s GIC and Temasek Holdings each purchased US$500 million of Alibaba shares at US$74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday………………………………………..Full Article: Source

Khazanah realises value in IHH

Posted on 02 June 2016 by VRS  |  Email |Print

Khazanah Nasional Bhd disposed of a block of IHH Healthcare Bhd shares valued at RM828.7mil in off-market trades in a move to add liquidity to the stock, sources said.
The block was made up of 130.3 million IHH shares that was priced at RM6.36 apiece, which was at a slight discount of 10 sen to the opening price of IHH today of RM6.46. “About 80% of the shares were taken up by local funds and foreigners mopped up the rest. It was a good price in the current climate,” said a banker………………………………………..Full Article: Source

SSEK Advises GIC on Indonesian Investment in Logistics Sector

Posted on 02 June 2016 by VRS  |  Email |Print

SSEK Legal Consultants has acted as Indonesian counsel to GIC, Singapore’s sovereign wealth fund, on its partnership with PT Mega Manunggal Property Tbk, an Indonesian publicly listed logistics developer and one of Indonesia’s leading modern logistics companies, to develop logistics warehouses in Indonesia. This is GIC’s first investment in Indonesia’s logistics sector.
Partner Denny Rahmansyah led the SSEK team advising on the deal. Allen & Gledhill acted as foreign counsel for GIC………………………………………..Full Article: Source

Najib says foreign investors keen on Malaysia despite “noise”

Posted on 02 June 2016 by VRS  |  Email |Print

Prime Minister Najib Razak said on Wednesday that investor confidence in Malaysia is high and blamed the rising “noise levels” for a negative perception of the country, where a state-owned fund is at the centre of graft probes across the world.
Malaysia’s economy and markets have been rattled by a slowdown in China, slumping oil prices and a burgeoning financial scandal around 1Malaysia Development Berhad (1MDB), whose advisory board Najib had chaired. Companies and banks linked to 1MDB are being investigated for money-laundering in at least six countries, a big embarrassment for Najib who welcomed hundreds of business and political leaders to Kuala Lumpur for the World Economic Forum on ASEAN 2016………………………………………..Full Article: Source

Korea Investment Corp Increased Hca Holdings by $14.34 Million as Shares Rose

Posted on 02 June 2016 by VRS  |  Email |Print

Korea Investment Corp increased its stake in Hca Holdings Inc by 32.77% based on its latest 2016Q1 regulatory filing with the SEC. Korea Investment Corp bought 183,900 shares as the company’s stock rose 17.74% with the market. The institutional investor held 745,027 shares of the health care company at the end of 2016Q1, valued at $58.15 million, up from 561,127 at the end of the previous reported quarter.
Korea Investment Corp who had been investing in Hca Holdings Inc for a number of months, seems to be bullish on the $30.57 billion market cap company. The stock increased 0.85% or $0.66 during the last trading session, hitting $78.02. HCA Holdings Inc has risen 13.11% since October 23, 2015 and is uptrending. It has outperformed by 12.05% the S&P500………………………………………..Full Article: Source

Follow Norway’s Lead Into Infrastructure

Posted on 02 June 2016 by VRS  |  Email |Print

Built from oil and natural gas profits, Norway’s fund is an $850 billion behemoth. It’s said that the Government Pension Fund of Norway owns shares of every stock listed on the planet in some capacity. So when the fund decides to shift its investing strategy and policies, regular Joes may want to take notice. And this time, dividend investors may want to pay really close attention.
Norway has infrastcture on its mind. And why not? Investing in pipelines, toll roads, timberlands and other public pieces of infrastructure has plenty of benefits — especially for those looking for dividends………………………………………..Full Article: Source

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