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China state fund CIC invests in taxi app Didi Kuaidi-source

Posted on 04 August 2015 by VRS  |  Email |Print

China’s sovereign wealth fund has invested an unspecified amount in Didi Kuaidi, China’s dominant ride-hailing app which is competing against U.S. firm Uber Technologies, a person with knowledge of the matter said on Tuesday.
The person said China Investment Corp (CIC) was one of several investors that injected more than $2 billion in recent months into the startup, which is now valued at $15 billion. The source did not give details about the size of CIC’s investment, and they declined to be identified as they were not authorised to speak to the media. CIC officials were not immediately available to comment on the matter………………………………………..Full Article: Source

Ride-Hailing Service Didi Kuaidi to Get Backing From China Investment Corp.

Posted on 04 August 2015 by VRS  |  Email |Print

China’s homegrown ride-hailing service is getting an influential backer in its battle against Uber Technologies Inc.: China Investment Corp. China Investment Corp., the country’s sovereign-wealth fund, has made a commitment to invest in Didi Kuaidi Joint Co. as part of its recent fundraising round, according to people familiar with the situation.
The Didi Kuaidi fundraising round had a “first closing” last month of $2 billion, valuing the Chinese ride-hailing app at $15 billion. At that time, Didi Kuaidi said it was looking to raise “a further few hundred million dollars from new investors before the final closing in the coming month.” Many companies covet an investment from China Investment Corp. because it carries the imprimatur of China’s government………………………………………..Full Article: Source

QIC secures $1b to invest in global infrastructure fund, will target transport and energy

Posted on 04 August 2015 by VRS  |  Email |Print

The Queensland Investment Corporation is pursuing transport and energy investments after securing more than $1 billion in capital for its new global infrastructure fund and several new clients, including pension group Hostplus. QIC started marketing the unlisted fund, which aims to eventually raise $1.75 billion, early this year, targeting clients in Asia and Australia.
As well as Hostplus, it has attracted an Asian sovereign wealth fund, a Chinese insurer and two existing clients. Ross Israel, head of QIC’s global infrastructure business, said the investment group’s strategy and track record had been recognised in Asia, with Asian clients keen on the broad range of infrastructure investments available in Australia………………………………………..Full Article: Source

NIIF to fund core projects

Posted on 03 August 2015 by VRS  |  Email |Print

India’s own sovereign wealth fund like entity - National Investment and Infrastructure Fund, modelled on Singapore’s investment vehicle Temasek, will be operational by the end of this year and provide equity finance to core sector projects to boost economic activity, Minister of State for Finance Jayant Sinha said.
NIIF will look at both greenfield as well as brownfield projects and “will fill the gap of equity financing,” he added, while further maintaining that it would also look at supporting stalled projects. The fund will have its own governing council and the management will be paid market salaries to attract the best talent. Money from the fund would be routed to provide equity support to those NBFCs and financial institutions, which are engaged in infrastructure financing across sectors, and corpus to JAMCs and equity/debt to commercially viable infrastructure and other projects……………………………………….Full Article: Source

Chinese sovereign fund behind bid for Avolon

Posted on 03 August 2015 by VRS  |  Email |Print

China Investment Corp is key backer of bid for Dublin-based aircraft leasing body. China’s sovereign wealth fund has emerged as a key backer of the original bid for Dublin-based aircraft leasing group Avolon. That interest triggered a $2.55 billion (€2.3 billion) counter-bid for the business from another Chinese investor.
Avolon declared the counter-bid from Beijing-based Bohai Leasing to the New York Stock Exchange on Friday, saying its offer of $31 per share for 100 per cent of its stock followed an approach from an unnamed third party at $30 per share. The original bid is understood to be led by AVIC Capital, a unit of Aviation Industry Corp of China, in partnership with China Investment Corp, the country’s sovereign wealth fund. The fund’s portfolio was recently valued at about $740 billion………………………………………..Full Article: Source

Opportunities for Singapore’s GIC in China market turmoil

Posted on 03 August 2015 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC is finding fresh opportunities to invest in the volatile China market amid restrictions imposed by the regulator on investors who own large stakes in Chinese companies. “It did open up some opportunities for people like us which take a longer-term view and we don’t have such kinds of liquidity constraints. That is a clear positive,” Lim Chow Kiat, group chief investment officer, told Reuters as the fund unveiled its annual report.
Lim said that in view of the restrictions, some investors were selling shares in which they had minority stakes due to redemption pressure, allowing long-term investors to step in………………………………………..Full Article: Source

Singapore Fund GIC completes exit from Edelweiss Financial Services

Posted on 31 July 2015 by VRS  |  Email |Print

Singapore sovereign fund Government of Singapore Investment Corp (GIC), the second largest public shareholder until now, has completely exited financial services firm Edelweiss Financial Services by selling its 9% stake in tranches to its promoter Rashesh Shah and foreign institutional investors Fidelity International and Nomura.
The move has come at a time when many foreign investors are raising their stake in India’s financial services companies. The Singapore fund, which stayed invested in Edelweiss for more than seven years, sold its 4.5% stake in 2014 in two tranches, and sold the remaining stake on July 24………………………………………..Full Article: Source

Bahrain’s Mumtalakat says seeking aviation acquisitions

Posted on 31 July 2015 by VRS  |  Email |Print

Bahrain’s sovereign wealth fund plans to create a new subsidiary to invest in the aviation sector and hold assets such as beleaguered national airline Gulf Air. The proposed company, Falcon Holding, would aim to consolidate key aviation assets and implement government plans to increase activity in what it views as a lucrative sector.
Mumtalakat will continue to be the 100% owner of existing aviation assets – Gulf Air, Bahrain Airport Company and Gulf Aviation Academy – and provide “strategic guidance and support”, its chief executive Mahmood Al Kooheji told Gulf Daily News………………………………………..Full Article: Source

Samruk Kazyna Hands-over 10% Stake in KMG to National Bank

Posted on 31 July 2015 by VRS  |  Email |Print

Kazakhstan’s Samruk-Kazyna National Welfare Fund has said it will hand-over 10% of its ordinary shares in NC KazMunaiGas JSC to the National Bank of Kazakhstan, according to Kazinform. As per the relevant government decision, the Sovereign Wealth Fund must transfer 10% of the common shares in KazMunaiGas to the country’s central bank at a cost determined by an independent appraiser.
Samruk has specified it will will divest 58,420,748 tenge worth (1.00 USD = 187.480 KZT – ed.) of the ordinary shares, which account for 10% of the total, plus one common share. The value should be no less than 750,000,000,000 tenge in value, its official statement says……………………………………….Full Article: Source

CIC Launches Subsidiary to Invest in Overseas Projects

Posted on 30 July 2015 by VRS  |  Email |Print

China’s sovereign wealth fund has launched a subsidiary to handle investment in overseas infrastructure projects as part of government efforts to expand business abroad to shore up growth. China Investment Corp. held a ceremony to launch its new subsidiary, CIC Capital Corp., on July 27. The subsidiary will focus on infrastructure, agricultural, forestry and fishery projects abroad.
CIC Capital, which showed the government it had capital of US$ 5 billion to get a business license, is the result of expanding an old CIC unit that oversaw infrastructure investment abroad, the company said. A slowing economy has prompted the government to be aggressive in looking for business opportunities for state-backed businesses in foreign countries since 2013………………………………………..Full Article: Source

CIC Capital Officially Launched, Targets $100bln In Total Capacity

Posted on 30 July 2015 by VRS  |  Email |Print

An overseas direct investment fund launched by China Investment Corporation earlier this year has officially begun operation, and plans to reach US$100 billion in total investment capacity eventually, according to Chinese media reports.
The new investment platform, named CIC Capital Corporation, was registered in January with US$5 billion in capital. It will be responsible for making direct investments in markets outside of China in partnership with Chinese companies wishing to expand internationally………………………………………..Full Article: Source

LAP preparing ‘‘aggressive’’ rescue plan for LAP GreenN: to invest in new technology and growth

Posted on 30 July 2015 by VRS  |  Email |Print

The Libya Africa Portfolio (LAIP or LAP) is preparing an aggressive rescue plan for its troubled African telecoms subsidiary LAP GreenN, Libya Herald has learnt. LAIP is a wholly-owned subsidiary of the Libyan Investment Authority (LIA), Libya’s main sovereign wealth fund entity.
Sources have informed this publication that the shareholders of LAP GreenN are working on a restructuring plan. The plan will find solutions for the company to ensure its continuity and its ability to deliver better service and value for money for businesses and individuals across the countries where LAP GreenN has investments in the African market………………………………………..Full Article: Source

Kazakh wealth fund to sell 10 pct in state oil firm KMG to central bank

Posted on 30 July 2015 by VRS  |  Email |Print

Kazakhstan’s sovereign wealth fund will sell 10 percent of shares in state oil firm KazMunaiGas to the central bank, the government said on Wednesday, in a move aimed at easing the debt burden of a company hit by low oil prices.
Samruk-Kazyna, which manages the Central Asian nation’s largest state-owned assets, is to sell a package of 10 percent plus one ordinary share to the central bank for a price not less than 750 billion tenge ($4 billion), the government said in a statement signed by Prime Minister Karim Masimov………………………………………..Full Article: Source

Will Goodman bear the cost of China’s $2.45bn Investa swoop?

Posted on 29 July 2015 by VRS  |  Email |Print

China Investment Corporation’s $2.45 billion outlay on Investa’s portfolio of Australian skyscrapers has revived expectations the ­sovereign wealth fund will shed its $1bn-plus exposure to listed warehouser Goodman Group. While the Chinese heavyweight is not short on capital — its total assets under management climbed by $US93bn ($127bn) to $US750bn last year — the fund dislikes stakes in publicly owned property managers.
In 2012, CIC offloaded a 6.9 per cent slice in Sydney-based Goodman Group, crystallising a profit on its initial and much larger investment, which was made in the midst of the global financial crisis. The sovereign wealth fund, which proved a white knight for Goodman Group, also helped prop up Morgan Stanley when the developed world’s financial system threatened to collapse………………………………………..Full Article: Source

Investa acquisition just another day at the office for CIC

Posted on 29 July 2015 by VRS  |  Email |Print

It may be the biggest direct real estate transaction in Australia ever but China Investment Corporation’s acquisition of the $2.45 billion Investa portfolio of office towers is just the latest purchase in a $7 billion global property spend by the Chinese sovereign fund this year alone.
The Australian Financial Review first reported on Monday night that the CIC International had won the Investa Property Group portfolio of office towers with a bid just shy of $2.5 billion. It is the biggest direct real estate transaction in Australia to date and represents an extremely sharp initial yield of 5 per cent. But CIC, which was set up in 2007 to manage China’s foreign exchange reserves, has been making headlines all year for its property acquisitions………………………………………..Full Article: Source

Singapore’s GIC comes as anchor investor in Syngene

Posted on 29 July 2015 by VRS  |  Email |Print

Singapore’s GIC, one of the most active sovereign wealth funds in the country, is among the anchor investors which have together invested Rs 150 core in Syngene International Ltd, the research and development subsidiary of Indian biopharmaceutical major Biocon Ltd, as part of an initial public offer (IPO) of the company.
Syngene allocated 6 million equity shares at a price of Rs 250 a piece, the upper end of the IPO price band of Rs 240-250 a share, to around a dozen anchor investors. GIC put in Rs 25 crore while others such as funds managed by Goldman Sachs, Morgan Stanley and Deutsche Bank besides other foreign portfolio investors and a few domestic mutual funds invested the balance Rs 125 crore………………………………………..Full Article: Source

Global Logistic Properties to Buy 200 U.S. Warehouses For $4.6 Billion

Posted on 29 July 2015 by VRS  |  Email |Print

Global Logistic Properties, a warehouse owner part-owned by Singapore’s sovereign-wealth fund, said Tuesday it is acquiring about 200 U.S. warehouses for $4.6 billion in one of the largest real estate deals of the year.
The deal, which has been signed but not yet closed, marks a further expansion of Global Logistic’s foothold in U.S. industrial property. Late last year, the company and GIC Pte. Ltd., the sovereign-wealth fund, joined to buy IndCor Properties, another large warehouse portfolio, from buyout firm Blackstone Group LP for $8.1 billion………………………………………..Full Article: Source

Azerbaijan Oil Fund’s investment portfolio exceeds limit for 2015 by 32.8%

Posted on 28 July 2015 by VRS  |  Email |Print

By 1 July the State Oil Fund of Azerbaijan exceeded the investment portfolio limit (AZN 28.2 bn) set for 2015 by 32.8%. According to the Fund, in the first half of 2015 its investment portfolio in manats, as the basic currency, grew from AZN 28.79 bn up to AZN 37.459 bn or by 30.1%. In Q2 growth made up AZN 959,000 or 2.6%.
The investment portfolio in euro as the base currency rose from AZN 30.2 bn up to AZN 32.26 bn or by 6.7%. The investment portfolio in US dollar fell from $36.7 bn to $34.8 bn or by 5.1%………………………………………..Full Article: Source

Sovereign Funds: 3 Portfolio Moves They Are Contemplating

Posted on 28 July 2015 by VRS  |  Email |Print

Sovereign wealth funds like the Abu Dhabi Investment Council (ADIC) and GIC Private Limited often take tactical bets while maintaining their long-term investment views. For example, GIC is an investor in Mumbai-based Eros International Plc, an Indian moviemaker – betting on India’s growing consumer class. These institutional investors understand that risk is the price all investors must pay to achieve returns.
From the start of 2015 till July 16, 2015, the Nikkei 225 returned 18.05% versus the S&P500 (similar period) returning 3.48%………………………………………..Full Article: Source

Abu Dhabi Investment Authority buying Irish hotels

Posted on 27 July 2015 by VRS  |  Email |Print

Abu Dhabi Investment Authority (ADIA) is rumoured to be backing a US $170 million bid to buy the seven-acre Dublin site, including two hotels. ADIA has teamed up with Irish developer Chartered Land to buy the two former Jurys and Berkeley Court hotels, which sit on some of the most valuable land in Ireland, according to the Irish Independent.
It was reported that under the deal, ADIA would finance the purchase and Chartered Land would redevelop and manage the site. Even at €155 million, the newspaper said, the sale price would be a fraction of the €380 million paid by developer Sean Dunne for the property in 2005………………………………………..Full Article: Source

Saudis to Boost Investment in Russia

Posted on 27 July 2015 by VRS  |  Email |Print

On 7 July, Saudi Arabia’s Public Investment Fund (PIF),the sovereign wealth fund of the Kingdom of Saudi Arabia declared its intent to follow through in co-investing up to $10 billion in the Russian Direct Investment Fund (RDIF). This is following up on a 21 June 2015 signing of a memorandum of understanding between the institutional partners.The RDIF was formed in 2011 in order to drive investment in high-growth sectors of Russia.
It can be seen as a part of former President Dmitry Medvedev’s plan to diversify the economy of Russia. The concept is centered around driving inward foreign direct investment by providing co-investment with other countries’ Sovereign Wealth Funds………………………………………..Full Article: Source

Atlantia, CIC, Macquarie, Allianz bidding for Tank&Rast

Posted on 24 July 2015 by VRS  |  Email |Print

Italian motorway operator Atlantia, Chinese sovereign wealth fund CIC, Australian infrastructure investor Macquarie and a consortium led by insurer Allianz are vying for Germany’s Tank&Rast, according to several people familiar with the deal. The four different groups are expected to hand in final bids of up to 3.5 billion euros ($3.84 billion) for the motorway service station group by a deadline set for next week, the sources added.
Terra Firma, run by British financier Guy Hands, is selling Tank&Rast, which operates 350 petrol stations and 390 service stations, with the help of Deutsche Bank and JP Morgan……………………………………….Full Article: Source

Abu Dhabi SWF in $170m bid for Irish hotels site

Posted on 24 July 2015 by VRS  |  Email |Print

Abu Dhabi Investment Authority (ADIA) is believed to be backing a €155 million ($170 million) bid to buy a valuable seven-acre development site in Dublin. ADIA has teamed up with Irish developer Chartered Land to buy the two former Jurys and Berkeley Court hotels, which sit on some of the most valuable land in Ireland, reported the Irish Independent.
Even at €155 million, the newspaper said, the sale price would be a fraction of the €380 million paid by developer Sean Dunne for the property in 2005. Dunne planned to build a 38-storey tower on the site when he first bought it but his plans were shelved during the recession………………………………………..Full Article: Source

The Future Fund takes risk off the table

Posted on 23 July 2015 by VRS  |  Email |Print

The revelation that the Future Fund has ramped up its cash holdings amid what it sees as an overpriced asset environment should resonate with smaller investors. The Fund is one of the nation’s most sophisticated investors, using a blend of outsourced managers and in-house specialists to generate mandated returns of 4.5 per cent over CPI — easy enough in the bull market years when the Fund was established by then Treasurer Peter Costello, not so easy in a low-rate world.
The Fund’s executives, including now chairman Costello, have been warning for some time that it is taking risk off the table as global financial markets approach the first rate increase by the Federal Reserve in close to a decade. The managers have tried to make the fund’s $117 billion portfolio as robust as possible to the range of scenarios that might play out once the Fed starts raising interest rates, and other central banks eventually follow suit. Fed officials have lately recommitted to a September increase………………………………………..Full Article: Source

Saudi Arabian sovereign wealth fund eyes big return on Russia investments

Posted on 23 July 2015 by VRS  |  Email |Print

The Saudi Arabian government’s sovereign wealth fund said it was investing $10 billion in Russia this year. The fund will work in partnership with the Russian Direct Investment Fund (RDIF). The Saudi Arabia Public Investment Fund is investing $10 billion in Russia, and will create a partnership with the Russian Direct Investment Fund (RDIF), a state-controlled investment fund supporting promising projects in Russia.
Vedomosti cited RDIF Chief Executive Kirill Dmitriev as saying the amount would be invested over a period of four to five years. According to Dmitriev, the partners have already approved seven projects, and they plan to increase this number to ten by the end of 2015. It is still unclear what these projects are. The partners say the funds will basically be directed towards infrastructure, agriculture, retail, medicine, and real estate………………………………………..Full Article: Source

Libyan investment chief: We need to manage frozen assets

Posted on 22 July 2015 by VRS  |  Email |Print

The Libyan Investment Authority (LIA) is drafting a proposal to the United States and European Union seeking management of its assets despite challenges from its former chairman who says that the country is too unstable for such a move.
The LIA’s international assets, which constitute a third of the $67 billion (Dh245.9 billion) sovereign wealth fund, have been frozen since 2011 when the country overthrew dictator Muammar Gaddafi. The Libyan government had an option to unfreeze the assets a year later, however, it decided to stick with the status quo………………………………………..Full Article: Source

China’s Total Gold Holdings Much Higher – Owns Gold In SAFE and CIC

Posted on 21 July 2015 by VRS  |  Email |Print

China revises up its stated gold reserves in bid for IMF membership and reserve currency status. China announces a 604 tonne increase in gold reserves. First public disclosure re reserves in since 2009. China true gold holdings much higher as also owns gold in SAFE and CIC.
China officially owns around 1,660 tonnes of gold reserves – true total figure is likely much larger. Playing long game – protecting USD reserves and positioning RMB as global reserve currency. It is important to remember that as we have long pointed out two other entities, besides the PBOC, have also been buying gold – the State Administration of Foreign Exchange (SAFE) and the China Investment Corporation (CIC). Although if the combined holdings of the PBOC, SAFE and CIC were added together, China may well be the second largest holder of gold bullion – after the U.S. – assuming that U.S. gold reserve figures, which have not been publicly audited in over 60 years, are accurate………………………………………..Full Article: Source

Singapore’s Temasek Holdings invests around $14 in Just Dial

Posted on 21 July 2015 by VRS  |  Email |Print

Investment venture Temasek Holdings has bought around 1% in India’s Just Dial in the last couple of weeks for around $13-$14 million. This is not the first time for Temasek to invest in Just Dial Ltd but for the second time. Just Dial Ltd, “Which runs the India-specific local business listings site Justdial.com and is slowly morphing into an e-commerce marketplace,” says the report in VCCircle.
Singapore-based Temasek started to invest outside Singapore only in 2002-2003. It does not want to be called fund-raising as it funds from its own money and has its own balance sheet and pays taxes like a company. It makes investment through its own divestments or earning through dividends………………………………………..Full Article: Source

GIC in Brazil shopping mall move

Posted on 20 July 2015 by VRS  |  Email |Print

Singapore’s Government of Singapore Investment Corporation (GIC), the eighth largest sovereign wealth fund (SWF) with total AUM of US$345 billion, has purchased a 35% stake in a Brazilian shopping mall, Via Parque Shopping. GIC said in a statement that the fund has entered into an agreement with the country’s second largest listed mall developer, Aliansce Shopping Centers SA to purchase the majority stake in the shopping mall for for US$41.89 million.
The mall is located in a prime area to the west of Rio de Janeiro and has a gross leasable area of 56,802 square meters. The mall underwent renovation in 2013 and 2014 to improve its retail environment. GIC said that the acquisition reflects its confidence in the long-term growth prospects of the Brazilian retail sector………………………………………..Full Article: Source

USPL gets Temasek boost

Posted on 20 July 2015 by VRS  |  Email |Print

In an attempt to power its aggressive expansion plans, Sachin Tendulkar-backed celebrity fashion lines company Universal Sportsbiz Private Limited (USPL) has raised Rs 8 crore from InnoVen Capital India (formerly known as SVB India Finance) in debt. Innoven Capital India is a start-up focused subsidiary of Singapore-based investment major Temasek Holdings.
“USPL is expected to use the debt for the planned brand building efforts and multimedia campaigns as the company pursues its aggressive growth plans,” the company said in a statement on Sunday. The debt raised by USPL follows the successful series B funding secured from existing investor Accel Partners. The total funds raised by USPL during the calendar year 2015 is Rs 61 crore through a combination of equity infusion and debt………………………………………..Full Article: Source

Banco do Brasil Falls on Sovereign Share Sale as Ibovespa Gains

Posted on 17 July 2015 by VRS  |  Email |Print

State-run Banco do Brasil SA fell the most in six weeks as the country’s sovereign-wealth fund sold some of its shares, paring gains on the Ibovespa. The lender was the biggest drag on the benchmark equity gauge. The sovereign wealth fund, which the government may tap to help meet its fiscal target, has started reducing its stake in the bank, said a person with direct knowledge of the matter, who asked not to be identified.
“That’s bad news for Banco do Brasil’s investors in the short term as flooding the market with shares will push the price lower,” Pedro Paulo Silveira, the chief economist at the brokerage TOV Corretora, said from Sao Paulo………………………………………..Full Article: Source

Brazil Bank Stock Sale Signals Rousseff May Tap Wealth Fund

Posted on 17 July 2015 by VRS  |  Email |Print

Brazil’s sovereign wealth fund has started reducing its stake in Banco do Brasil SA as the government may tap the fund to help meet its fiscal target, said a person with direct knowledge of the matter. The shares plunged the most in six weeks.
The sovereign fund sold 1 million shares of Banco do Brasil last month, data compiled by Bloomberg show. While the initial share dump is small — worth about 23 million reais ($7 million) — it marks the beginning of what could be a bigger reduction of the fund’s 2.66 billion-real stake in the bank, according to the person, who asked not to be identified because the government’s plans aren’t public………………………………………..Full Article: Source

Temasek seek buyers for shipper Neptune Orient Lines

Posted on 17 July 2015 by VRS  |  Email |Print

Singapore state investor Temasek Holdings has put shipping company Neptune Orient Lines Ltd , which has a market value of $1.7 billion, up for sale, people familiar with the matter told Reuters. Temasek has hired a bank to seek buyers for the business which made a net loss in five of the past six years, the sources said, as the fund with $197 billion under management seeks to boost its performance by shedding underperforming companies.
The sale of the business was widely expected, especially after Neptune, nearly 67 percent-owned by Temasek, sold its logistics business to Japanese freight carrier Kintetsu World Express Inc for $1.2 billion………………………………………..Full Article: Source

Temasek Holdings selling NOL

Posted on 17 July 2015 by VRS  |  Email |Print

Singapore investment firm Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, according to a Wall Street Journal (WSJ) report. The report, citing unnamed sources, said the liner company has been “shopped to prospective buyers” in recent months. NOL is about 67 per cent owned by Temasek, going by Bloomberg data.
The company had been in talks with a prospective buyer, but “the two sides couldn’t agree on price”, added the report. WSJ said such a deal would allow Temasek to exit from the container-shipping business, which has been suffering from overcapacity in recent years………………………………………..Full Article: Source

Libya SWF considered investing EUR1.5bn in Bank of Ireland

Posted on 16 July 2015 by VRS  |  Email |Print

The Libyan investment authority considered investing €1.5 billion in Bank of Ireland in late 2010, according to the former head of the National Treasury Management Agency (NTMA) John Corrigan.
Speaking to the Oireachtas Banking Inquiry on Wednesday, Mr Corrigan confirmed that the NTMA met with the Libyan sovereign wealth fund in Tripoli in December 2010 with a view to it investing in Bank of Ireland. This was a time when Libya’s disgraced former dictator Moammar Ghadaffi still led the country………………………………………..Full Article: Source

China Investment Corporation and LaSalle tipped to take Investa

Posted on 16 July 2015 by VRS  |  Email |Print

China Investment Corporation, the world’s fourth-largest sovereign wealth fund, and LaSalle ­Investment Management may be edging close to winning preferred bidder status on Morgan Stanley’s $8.9 billion Investa Property Group.
While a decision is imminent and rival suitors, including Cromwell Property Group which has assembled a powerful consortium with the inclusion of the Future Fund, have made compelling bids, the Chinese fund has been buying up trophy assets globally and is making an aggressive grab for the Investa portfolio, which includes gems such as a stake in Sydney’s Deutsche Bank Place………………………………………..Full Article: Source

GIC pays US$42m for minority stake in Aliansce’s Brazilian mall

Posted on 16 July 2015 by VRS  |  Email |Print

GIC Pte Ltd, Singapore’s sovereign wealth fund, agreed on Monday to pay 132.4 million reais (S$57 million) for a minority stake in a shopping mall controlled by Brazil’s Aliansce Shopping Centers SA, the latest step in the fund’s push into Latin America’s largest economy.
Under terms of the deal, GIC took a 35 per cent stake in Via Parque Shopping, a mall located in Rio de Janeiro’s exclusive Barra da Tijuca area, according to a statement. The mall, which has 57,000 square meters (611,400 square feet) of shopping area, underwent massive renovation work between 2013 and 2014, the statement added………………………………………..Full Article: Source

China Investment Corporation and LaSalle tipped to take Investa

Posted on 15 July 2015 by VRS  |  Email |Print

China Investment Corporation, the world’s fourth-largest sovereign wealth fund, and LaSalle ­Investment Management may be edging close to winning preferred bidder status on Morgan Stanley’s $8.9 billion Investa Property Group.
While a decision is imminent and rival suitors, including Cromwell Property Group which has assembled a powerful consortium with the inclusion of the Future Fund, have made compelling bids, the Chinese fund has been buying up trophy assets globally and is making an aggressive grab for the Investa portfolio, which includes gems such as a stake in Sydney’s Deutsche Bank Place………………………………………..Full Article: Source

Temasek to meet investors next week

Posted on 15 July 2015 by VRS  |  Email |Print

Temasek Holdings is planning to meet investors starting next week. Singapore’s state investment holding company will be meeting investors for a luncheon in Singapore next Monday. DBS and OCBC are arranging the meetings.
Last week Temasek published its annual results, showing that its portfolio stood at S$266 billion ($195 billion) as of March 31, up 19 percent from a year ago. Temasek was last in the market in July 2012, when it issued a $1.2 billion 2.375 percent 10.5-year bond and a $500 million 3.375 percent 30-year note………………………………………..Full Article: Source

The Ascott, QIA setting up serviced residence global fund

Posted on 15 July 2015 by VRS  |  Email |Print

CapitaLand’s serviced residence arm ,The Ascott, has teamed up with the Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, to set up a US$600 million (S$811 million) serviced residence fund. The real estate group said the move was part of an ambitious plan to launch six new funds with up to $10 billion in total assets under management by 2020.
QIA and The Ascott will contribute equally to the joint venture, which is The Ascott’s largest private equity fund to date, said CapitaLand in a statement yesterday. The Ascott will have the first right to manage the properties it acquires………………………………………..Full Article: Source

Qatar’s Sheikh Hamad Buys $1.1B stake in Spain’s El Corte Ingles

Posted on 15 July 2015 by VRS  |  Email |Print

Former Qatari Prime Minister Sheikh Hamad Bin Jassim Bin Jabr Al Thani will take a 10 per cent stake in Spanish department store El Corte Ingles for 1 billion euros ($1.1 billion) as he builds his portfolio as a solo investor.
Sheikh Hamad was ousted as prime minister and head of Qatar’s $100 billion sovereign wealth fund in 2013. During his time at the fund he oversaw investments in Barclays and Total. The country’s investment abroad averaged $60 billion a year between 2008 and 2012, the International Monetary Fund said in 2013………………………………………..Full Article: Source

GIC pays $42 mln for minority stake in Aliansce’s Brazilian mall

Posted on 14 July 2015 by VRS  |  Email |Print

GIC Pte Ltd, Singapore’s sovereign wealth fund, agreed on Monday to pay 132.4 million reais ($42 million) for a minority stake in a shopping mall controlled by Brazil’s Aliansce Shopping Centers SA, the latest step in the fund’s push into Latin America’s largest economy.
Under terms of the deal, GIC took a 35 percent stake in Via Parque Shopping, a mall located in Rio de Janeiro’s exclusive Barra da Tijuca area, according to a statement. The mall, which has 57,000 square meters (611,400 square feet) of shopping area, underwent massive renovation work between 2013 and 2014, the statement added………………………………………..Full Article: Source

The Ascott, QIA setting up serviced residence global fund

Posted on 14 July 2015 by VRS  |  Email |Print

CapitaLand’s serviced residence arm ,The Ascott, has teamed up with the Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, to set up a US$600 million (S$811 million) serviced residence fund. The real estate group said the move was part of an ambitious plan to launch six new funds with up to $10 billion in total assets under management by 2020.
QIA and The Ascott will contribute equally to the joint venture, which is The Ascott’s largest private equity fund to date, said CapitaLand in a statement yesterday. The Ascott will have the first right to manage the properties it acquires………………………………………..Full Article: Source

S. Korea’s sovereign wealth fund buys into U.S. pet supplies retailer

Posted on 13 July 2015 by VRS  |  Email |Print

South Korea’s sovereign wealth fund said Monday that it has invested US$100 million into a U.S.-based pet supplies and services retailer chain as part of efforts to diversify its portfolio. The move, undertaken in cooperation with U.S. private equity fund BC Partners and GIC Private Ltd., Singapore’s state investment corporation, allows the partners to take over PetSmart Inc., Korea Investment Corp. (KIC) said.
KIC’s share in the company headquartered in Arizona stands at 5 percent, with the duration of the investment to be at least five years, the fund said. KIC said that PetSmart not only handles selling pet products, but also provides other various services to pet owners. The company controls some 41 percent of the North American market, making it the largest on the continent………………………………………..Full Article: Source

India best for investment, says Temasek

Posted on 13 July 2015 by VRS  |  Email |Print

Temasek Holdings Pvt ltd which is one of the best firms for investment in Singapore government said today that India has a bright future for investment. India over the past one year has been an active player in the world of investments with the best potential for long-term return as well.
They also spoke about Prime Minister Narendra Modi government who was focusing on reviving investor-led growth, as per Ravi Lambah, co-head of India, Africa and the Middle East region at Temasek. They hope that investing in India would definitely give them long-term returns. India currently accounts for about four per cent of the Singapore investor’s portfolio………………………………………..Full Article: Source

SGRF working to retrieve investment in Corpbank

Posted on 13 July 2015 by VRS  |  Email |Print

Oman’s State General Reserve Fund (SGRF) has said that it is seriously working to protect its investment in Bulgaria’s bankrupt Corporate Commercial Bank (CCB). Last week, there were media reports that Oman, represented by SGRF, had initiated a lawsuit against the Bulgarian government following the bankruptcy of CCB, based on information from an unnamed source.
SGRF, in a statement on its website, said that it cannot comment on information from anonymous sources. “However, it is seriously working to protect its investment in CCB and observing all CCB related updates.” Bulgarian lender CCB was shut down last year by Bulgaria’s central bank after a bank run in June 2014. ……………………………………….Full Article: Source

CapitaLand partners Qatar Investment for US$600m fund

Posted on 13 July 2015 by VRS  |  Email |Print

CapitaLand Ltd.’s serviced residence arm and Qatar Investment Authority, the Gulf state’s sovereign wealth fund, will partner in a $600 million venture as Southeast Asia’s biggest developer boosts its fund management business.
The venture will initially focus on Asia Pacific and Europe, according to a statement on Monday. CapitaLand has a target to have six new funds with as much as S$10 billion ($7.4 billion) in assets under management by 2020, it said………………………………………..Full Article: Source

Sovereign wealth funds lead the way in long-term investing

Posted on 10 July 2015 by VRS  |  Email |Print

The advantages enjoyed by sovereign wealth funds have rarely mattered more than now in a capital market environment of low yields, mounting volatility, unexciting global economic growth and sub-par investment returns—nor have they contrasted more sharply with the prevailing transaction-oriented mentality.Patrick Thomson, global head of Sovereigns at JP Morgan Asset Management looks at the changing requirements in the long term space.
Long-term institutional investing, as practiced by the world’s leading sovereign wealth funds, enjoys large strategic advantages and a decisive tactical edge over investing with a shorter time horizon………………………………………..Full Article: Source

KIC warns of pulling investment from Elliott

Posted on 10 July 2015 by VRS  |  Email |Print

Korea Investment Corp. (KIC), the country’s sovereign-wealth fund, said it will withdraw investment in Elliott Associates if the fund acts in such a way as to hurt the national interest. “If Elliott acts only for short-term investment gains and hurts the national interest, KIC will consider pulling its investment from the hedge fund,” a KIC executive said, Thursday.
He said KIC, which has about $85 billion in assets, has invested in the hedge fund since 2010. KIC has invested $2.6 billion in 20 different hedge funds, KIC said. It has so far invested about $50 million in the U.S. hedge fund with the profit margin reaching 40 percent………………………………………..Full Article: Source

Temasek participates in $2b Didi Kauidi funding round

Posted on 10 July 2015 by VRS  |  Email |Print

Temasek Holdings has participated in a $2 billion funding round in mainland Chinese Uber competitor Didi Kuaidi, which is present in more than 300 cities. This round of funding includes prior investors Alibaba Group and Tencent Holdings, as well as domestic funds Ping An Ventures and Capital International Equity fund.
The other international fund investing alongside Temasek Holdings is New York-based Coatue Management. Both firms are also investors in Singapore-based taxi booking service Grabtaxi. According to the official statements, capital from this round will be invested in research & development of their product, as well as financing subsidy incentives for drivers………………………………………..Full Article: Source

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