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Sovereign Wealth Funds Briefing - Category | Investment more

Will Temasek convert Iculs in SAM Engineering?

Posted on 30 May 2016 by VRS  |  Email |Print

Minority shareholders of SAM Engineering & Equipment (M) Bhd are likely to get a bounty dividend if the company’s major shareholder decides to convert a large chunk of its loan stocks.
The company, which manufacturers parts for aeroplanes and equipment for the semiconductor industry and ultimately owned by Singapore’s Temasek Holdings (Pte) Ltd, has consistently seen its dividend pay-out grow in the last three years. According to an investor, it only makes sense for Temasek to convert the Iculs because the dividends will give it higher returns than the 4% which the loan stock pays………………………………………..Full Article: Source

GIC among bidders for Sithe power assets

Posted on 30 May 2016 by VRS  |  Email |Print

A group including Singapore’s sovereign wealth fund GIC Pte is among suitors that have submitted bids for Sithe Global Power’s stakes in two Philippine power plants, people with knowledge of the matter said.
The consortium, including an infrastructure investment fund managed by Macquarie Group and Malaysian power company Malakoff Corp, submitted a non-binding offer for the stakes, the people said. The Blackstone Group-owned company’s sale could fetch more than $1bn, they said, asking not to be identified as the process is private. Aboitiz Power president Tony Moraza declined to comment, as did representatives for GIC and Marubeni………………………………………..Full Article: Source

SOFAZ to increase profitability through long-term investments

Posted on 30 May 2016 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ, which is in charge of accumulating and managing the country’s oil and gas revenues, plans to increase the profitability of asset management in the coming years.
Ziya Kangarli, chief investment advisor at SOFAZ announced about this while addressing the Forum on “Decrease in oil prices and economic reforms: Challenges and Opportunities” held at Khazar University on May 24. Kangarli noted that SOFAZ plans to achieve this goal by increasing the share of long-term instruments in its investment portfolio………………………………………..Full Article: Source

Kazakh sovereign fund seeks over $6 billion from privatisations

Posted on 27 May 2016 by VRS  |  Email |Print

Kazakh sovereign wealth fund Samruk-Kazyna plans to raise more than $6 billion (4 billion pounds) from privatisations over the next five years, using the proceeds to help its companies repay debt, the fund’s managing director told Reuters on Thursday.
The sale will start with small companies. Public offerings of stakes in the fund’s crown jewels, such as national oil company KazMunayGaz, will be the last deals to happen and will take place after 2018, Berik Beisengaliyev said in an interview. “The balance sheet value of those assets (earmarked for privatisation) is between $6.0-7.3 billion at the current exchange rate,” Beisengaliyev said………………………………………..Full Article: Source

Saudi wealth fund PIF said to mull $8bn bid for Riyadh hub

Posted on 27 May 2016 by VRS  |  Email |Print

Saudi Arabia’s Public Investment Fund, the wealth fund headed by Deputy Crown Prince Mohammed bin Salman, is likely to make an offer next month to buy Riyadh’s unfinished financial hub as the government attempts to rehabilitate a project plagued by delays and cost overruns.
The fund may pay about 30bn riyals ($7.9bn) – the amount already spent on the King Abdullah Financial District by the Saudi Public Pension Agency – plus the cost of undeveloped plots, a person with knowledge of the matter said, asking not to be identified as discussions are private. The plan includes a new company to oversee the project’s completion and management………………………………………..Full Article: Source

Abu Dhabi sovereign fund may invest in Greenko

Posted on 27 May 2016 by VRS  |  Email |Print

Abu Dhabi Investment Authority, the sovereign wealth fund of the emirate of Abu Dhabi, is in final talks with the Hyderabad-based Greenko Group to invest $170-$200 million for a minority stake. The transaction is expected to close at a $1 billion post-money valuation, The Economic Times reported citing sources.
Greenko, formerly listed on London’s AIM exchange, also had $800 million debt as on December 2015, implying an enterprise value of $1.6 billion. GIC of Singapore owns about 84% of Greenko while the renewable energy company’s two founders, Anil Chalamalasetty and Mahesh Kolli, hold the rest………………………………………..Full Article: Source

World’s largest sovereign fund means biz in Sri Lanka

Posted on 27 May 2016 by VRS  |  Email |Print

The world’s largest sovereign wealth fund, Norway’s Pension Fund, with assets worth a staggering $ 800 billion, appears to be bullish on investing in Sri Lanka, having built a small yet growing portfolio of listed equities.
Recently, the Norwegian Embassy revealed that its Pension Fund has invested $ 31 million in shares of 12 Sri Lankan listed companies engaged in industrials, finance, telecommunications and consumer goods sectors. It didn’t reveal what the companies are but suggested it was the first step with analysts hopeful of an expanded engagement with the Sri Lankan capital market in the long term………………………………………..Full Article: Source

Alaska Permanent plans up to $3 billion for private investments next fiscal year

Posted on 27 May 2016 by VRS  |  Email |Print

Alaska Permanent Fund Corp., Juneau, approved a private markets pacing plan for fiscal year 2017 starting July 1, said a news release from the $52.7 billion sovereign wealth fund. Under the pacing plan approved at this week’s board meeting, $900 million total would be committed to traditional private equity funds and co-investments in fiscal year 2017, with co-investments limited to $225 million.
This allocation could increase by $200 million based on market opportunities. Additionally, the pacing plan calls for up to $350 million total for structured private equity, which could increase by $200 million based on market opportunities………………………………………..Full Article: Source

Abu Dhabi Sovereign Fund ADIA eyes $200 million investment in Greenko

Posted on 26 May 2016 by VRS  |  Email |Print

Six months after making its first bet on India’s fast growing renewable energy sector, sovereign wealth fund ( SWF) Abu Dhabi Investment Authority ( ADIA) is gearing up for a rerun.
ADIA is in advance negotiations with Hyderabad headquartered Greenko Group to invest between $170-$200 million for a minority stake, said multiple sources aware of the ongoing negotiations. ADIA’s growing interest in this sector reflects the emirates’ focussed strategy to diversify from petroleum and other fossil fuels and back newer, clean tech ventures across the region, especially in emerging geographies like India………………………………………..Full Article: Source

Korea Investment Corp buys $56.3 Million stake in Time Warner Inc

Posted on 25 May 2016 by VRS  |  Email |Print

Time Warner Inc: Korea Investment Corp scooped up 209,000 additional shares in Time Warner Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 769,173 shares of Time Warner Inc which is valued at $56.3 Million.Time Warner Inc makes up approximately 0.42% of Korea Investment Corp’s portfolio.
Other Hedge Funds, Including , Ropes Wealth Advisors boosted its stake in TWX in the latest quarter, The investment management firm added 67 additional shares and now holds a total of 263 shares of Time Warner Inc which is valued at $19,259………………………………………..Full Article: Source

Bahrain Wealth Fund Plans to Invest Over $400 Million This Year

Posted on 24 May 2016 by VRS  |  Email |Print

Bahrain’s sovereign wealth fund plans to invest more than $400 million this year on international deals as it seeks to further diversify away from domestic assets, according to Chief Executive Officer Mahmood Al Kooheji.
Mumtalakat, as the fund is known, will spend more outside Bahrain this year after the bulk of investments were made in its home market in 2015, Al Kooheji said on Sunday by phone from Manama, declining to give more detail. The fund invested $335 million in Bahrain last year in industrial, manufacturing, real estate and tourism businesses, and made one investment of an undisclosed size internationally. About 57 percent of Mumtalakat’s investments are in Bahrain, Al Kooheji said………………………………………..Full Article: Source

Angolan Sovereign Fund invests US$4.7 billion

Posted on 24 May 2016 by VRS  |  Email |Print

The net value of the investment portfolio of the Angolan Sovereign Fund on 31 December, 2015 was US$4.7 billion, with venture capital funding accounting for 58 percent of the total, the fund said in a statement.
The statement said that 19 percent of the US$1.1 billion of the infrastructure fun is invested in projects in Angola and Kenya, 23 percent of the US$500 million in the hotel fund has been channeled into projects in Angola and Zambia, 10 percent of the US$220 million of the mining fund have been applied in Mauritania and 12 percent of the US$190 million in structured capital have been invested in South Africa………………………………………..Full Article: Source

Hong Kong’s Exchange Fund reports investment gains of HK$24.1b in sharp turnaround

Posted on 24 May 2016 by VRS  |  Email |Print

The Exchange Fund, Hong Kong’s reserve fund to defend its currency, reported an investment income of HK$24.1 billion for the first quarter of this year as strong gains in bonds and foreign exchange holdings offset losses in its stocks investment, according to the Hong Kong Monetary Authority (HKMA).
The first-quarter investment income was a turnaround from the investment losses of HK$15.8 billion for the whole of last year – its second-worst performance ever and its first loss since the global financial crisis in 2008 – as heavy foreign-exchange losses and poor returns from equity investments took their toll. It also marks a 190 per cent advance from the HK$8.3 billion investment income in the first quarter of last year………………………………………..Full Article: Source

CIC, KKR consortium aborts bid for Yum! Brands unit

Posted on 24 May 2016 by VRS  |  Email |Print

A consortium backed by sovereign fund China Investment Corp (CIC) has withdrawn its bid for control of Yum! Brands Inc’s Chinese business after failing to agree on a price with the operator of KFC and Pizza Hut eateries in the nation, a person with knowledge of the matter said.
The investor group, which also includes KKR & Co and Baring Private Equity Asia, informed Yum’s board recently that it doesn’t plan to proceed with the offer, the person said, asking not to be identified because the matter is confidential. The consortium valued the unit at roughly US$8bil, about 20% lower than what Yum was seeking for China’s most popular fast-food chain, the person said………………………………………..Full Article: Source

FSDEA investment portfolio estimated at USD 4.7 billion

Posted on 23 May 2016 by VRS  |  Email |Print

Angola’s Sovereign Wealth Fund (FSDEA) portfolio investment recorded last year is estimated at USD 4.7 billion (one dollar equals 166,708 Kwanzas), says the institution’s press note. Angop learnt Friday in Luanda that the portfolio recorded in 2015 is internationally diversified and holds allocations to venture capital funds, fixed income assets, variable to financial derivatives and currencies.
The document stressed that the allocation to venture capital funds corresponding to 58 percent of the investment portfolio and aims to direct investment in Angola and other sub-Saharan African countries………………………………………..Full Article: Source

Korea Investment Corp buys $58.1 Million stake in HCA Holdings Inc

Posted on 23 May 2016 by VRS  |  Email |Print

Korea Investment Corp scooped up 183,900 additional shares in HCA Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 745,027 shares of HCA Holdings Inc which is valued at $58.1 Million.HCA Holdings Inc makes up approximately 0.43% of Korea Investment Corp’s portfolio.
Other Hedge Funds, Including , Wexford Capital Lp added HCA to its portfolio by purchasing 6,500 company shares during the most recent quarter which is valued at $506,480. HCA Holdings Inc makes up approx 0.10% of Wexford Capital Lp’s portfolio.Ifrah Financial Services reduced its stake in HCA by selling 117 shares or 3.93% in the most recent quarter………………………………………..Full Article: Source

Temasek, CIC-KKR advance to second round of Yum China stake sale

Posted on 20 May 2016 by VRS  |  Email |Print

Singapore state investor Temasek Holdings and a consortium that includes China Investment Corp (CIC) and KKR & Co have advanced to a second round of bidding for a minority stake in Yum Brands Inc’s China unit, people familiar with the matter told Reuters.
Another private equity-backed consortium has also moved to the second round, the people said, although its identity could not be immediately confirmed. Louisville, Kentucky-based Yum Brands, owner of the Pizza Hut and KFC fast food chains, aims to spin off its 7,205 China restaurants by the end of 2016, amid pressure from activist investor Corvex Management, whose founder, Keith Meister, is on Yum’s board………………………………………..Full Article: Source

Top 10 biggest foreign investors pouring capital into L.A. real estate

Posted on 20 May 2016 by VRS  |  Email |Print

Among the biggest transactions of the past year was Singapore sovereign wealth fund GIC’s acquisition of a 40 percent interest in five U.S. retail properties, including the Lakewood Centre in Lakewood, for $790.7 million.
Global Logistic Properties, a warehouse owner whose parent company is Singapore’s sovereign-wealth fund, also acquired several L.A.-based warehouses, including the Sorenson Industrial Distribution center for $43 million, and Bell Gardens Industrial Park for $37.1 million………………………………………..Full Article: Source

Sovereign Wealth Funds Investing In Infrastructure

Posted on 20 May 2016 by VRS  |  Email |Print

Using extracts from the 2016 Preqin Sovereign Wealth Fund Review and data from Preqin’s Infrastructure Online, Joe McGee and Selina Sy examine these investors’ plans and preferences concerning infrastructure investments.
Sovereign wealth funds continue to1 capture attention as a result of their ever growing assets under management (AUM) and corresponding influence on global financial markets. Despite market volatility and the ongoing decline in commodity prices, which has reduced the capital available to some sovereign wealth funds, AUM managed by these investors reached $6.51tn in March 2016. This is over double the aggregate assets held in 2008 ($3.07tn), the year Preqin launched its first Sovereign Wealth Fund Review………………………………………..Full Article: Source

Oldest Mideast Wealth Fund Eyes Global Infrastructure Projects

Posted on 19 May 2016 by VRS  |  Email |Print

The Kuwait Investment Authority, one of the world’s oldest sovereign wealth funds, is targeting global infrastructure projects after taking part in a consortium that bought the London City Airport this year, Chairman Anas Al-Saleh said.
Al-Saleh, Kuwait’s deputy premier and minister of finance, said the fund has shied away from purchasing trophy assets, focusing on deals that “give us our targeted returns.” With $592 billion in assets under management, KIA is the world’s fifth-largest sovereign wealth fund, according to data compiled by the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Indonesia Turns to Temasek as Model for Sovereign Investment

Posted on 18 May 2016 by VRS  |  Email |Print

Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development in Southeast Asia’s biggest economy.
The government is considering starting an investment holding company for four or five state-owned entities, which could then buy shares in Indonesian companies, Finance Minister Bambang Brodjonegoro said in an interview in Jakarta on Monday. If the fund is successful, it may over time invest in assets overseas, as Temasek did, he said………………………………………..Full Article: Source

Russian, Vietnamese state funds to invest $500m in joint trade platform

Posted on 18 May 2016 by VRS  |  Email |Print

The Russian Direct Investment Fund (RDIF) and the State Capital Investment Corporation (SCIC) of Vietnam will each dedicate $250 million in a Russian-Vietnamese investment platform to identify attractive investment projects in bilateral trade.
Thus, the $500-million platform will be directed towards projects that promote bilateral trade and foreign direct investment flows between the two countries, as well as Vietnamese business activities in Russia. “Following last year’s free trade agreement between the Eurasian Economic Union and Vietnam, RDIF has identified a major opportunity to strengthen cooperation between the two countries in a broader range of sectors beyond commodities………………………………………..Full Article: Source

Oman fund to invest $50m in BOC Aviation IPO

Posted on 18 May 2016 by VRS  |  Email |Print

Oman Investment Fund, a sovereign wealth fund of the Government of Oman, has agreed to buy shares worth $50 million in the initial public offering (IPO) of BOC Aviation, the aircraft leasing unit of Bank of China, said a report.
BOC Aviation attracted investors including Boeing and the Chinese sovereign wealth fund (SWF) to buy shares in its $1.1 billion IPO in Hong Kong, added the Times of Oman report. Spurred by strong economic growth in the past decade and rising incomes in the world’s two most-populous countries, China and India, Asia is on course to beat the US as the biggest plane-leasing market, according to Airbus Group and Boeing………………………………………..Full Article: Source

Qatari Wealth Fund to Create $100 Billion Unit in Overhaul

Posted on 17 May 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals, people with knowledge of the matter said.
About $100 billion of the Qatar Investment Authority’s stakes in companies such as Qatar Airways and Qatar National Bank SAQ will be placed into a new internal division named Qatar Investments, the people said, asking not to be identified because the information is private………………………………………..Full Article: Source

Oman fund to invest $50m in Chinese aviation firm’s $1.1b share offer

Posted on 17 May 2016 by VRS  |  Email |Print

Oman Investment Fund has agreed to buy $50 million in the initial public offering of BOC Aviation, the aircraft leasing unit of Bank of China. BOC Aviation attracted investors including Boeing and the Chinese sovereign wealth fund (SWF) to buy shares in its $1.1 billion initial public offering in Hong Kong.
China Investment Corp. and the Silk Road Fund agreed to each invest $100 million in the offering, according to terms for the deal obtained by Bloomberg. Boeing, the world’s biggest planemaker, committed $30 million, and Chinese billionaire Guo Guangchang’s Fosun International will purchase $35 million of shares, the terms show………………………………………..Full Article: Source

Domestic focus may limit clout of $2 trillion Saudi fund

Posted on 17 May 2016 by VRS  |  Email |Print

Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home.
Building the Public Investment Fund (PIF) into “the largest fund in the world by far” is a cornerstone of radical economic reforms announced by Deputy Crown Prince Mohammed bin Salman last month to cut the kingdom’s reliance on oil………………………………………..Full Article: Source

Azerbaijan’s SOFAZ has no plans to increase share in Russian VTB Bank

Posted on 17 May 2016 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has no plans to increase its share in Russia’s VTB Bank, SOFAZ told Trend. Earlier, Russia’s President Vladimir Putin signed a decree to reduce the state’s share in the bank’s authorized capital from 45 percent to 42.8 percent.
SOFAZ has 2.95 percent share in Russia’s VTB Bank. It obtained this share for $500 million. VTB Bank is represented in Azerbaijan through its VTB Bank (Azerbaijan) subsidiary. VTB Bank (Azerbaijan) renders services to the customers of corporate business, small business and private clients………………………………………..Full Article: Source

BOC Aviation Draws Boeing, Sovereign Funds to $1.1 Billion IPO

Posted on 16 May 2016 by VRS  |  Email |Print

BOC Aviation Ltd., Asia’s biggest aircraft lessor, attracted investors including Boeing Co. and the Chinese sovereign wealth fund to buy shares in its $1.1 billion initial public offering in Hong Kong.
China Investment Corp. and the Silk Road Fund agreed to each invest $100 million in the offering, while Oman Investment Fund will buy $50 million of stock, according to terms for the deal obtained by Bloomberg. Boeing, the world’s biggest planemaker, committed $30 million, and Chinese billionaire Guo Guangchang’s Fosun International Ltd. will purchase $35 million of shares, the terms show………………………………………..Full Article: Source

Glencore Said in Talks to Sell Further Stake in Agriculture Unit

Posted on 16 May 2016 by VRS  |  Email |Print

Glencore Plc is in talks to sell a further 9.9 percent stake in its agriculture unit to investors from Qatar, Saudi Arabia and Canada, pressing ahead with plans to reduce its debt, according to people with knowledge of the matter.
The lead bidders for the additional 9.9 percent include another Canadian pension fund, the sovereign wealth fund of Qatar and state-owned Saudi Agricultural and Livestock Investment Company, one of the people said. The three were already among the bidders for the initial 40 percent disposal………………………………………..Full Article: Source

KIC to team with local firms for overseas investments: chief

Posted on 13 May 2016 by VRS  |  Email |Print

Korea’s sovereign wealth fund is willing to team up with local brokerages and asset management firms to invest in overseas infrastructure projects, its chief said Wednesday. The Korea Investment Corp., which manages about $90-billion assets, has rarely cooperated with local investment firms before.
“As overseas construction projects are evolving to become large investment projects, customized financial support is all the more necessary now,” Eun Sung-soo, CEO of KIC, said in a meeting with heads of local brokerages and asset management firms in Seoul………………………………………..Full Article: Source

Malaysia’s Khazanah Divestments

Posted on 13 May 2016 by VRS  |  Email |Print

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd. is considering paring 2 percent of its holdings in Tenaga Nasional Bhd., IHH Healthcare Bhd. and Axiata Group Bhd., people familiar with the matter said earlier this week. EPF owns shares in all three companies, and Employees Provident Fund Chief Executive Officer Shahril Ridza Ridzuan said. said the pension fund may look at increasing its stake should Khazanah sell.
“We don’t rule out the possibility,” Shahril said. “It all depends on whether the price makes it worthwhile for us to look at, from a risk-return point of view.”……………………………………….Full Article: Source

Malaysian sovereign wealth fund Khazanah invest $100 in Fractal Analytics

Posted on 13 May 2016 by VRS  |  Email |Print

Data analytics company Fractal Analytics Pvt Ltd., has raised around $100 million (Rs. 667 crore) from Malaysian sovereign wealth fund Khazanah Nasional Berhad, in one of the biggest investments in tech ecosystem segment, this year. After this fresh investment, the value of the US and India-based company will increase to nearly $300 million (Rs. 2,000 crore).
Founded in 2000, Fractal basically links itself with consumer establishments, distributors and financial institutions to interpret predict and influence consumer behavior. Following this, it enhances supply chain, marketing, pricing, risk and claims management………………………………………..Full Article: Source

Sovereign Funds Augmented Direct Energy Investments in 2015

Posted on 12 May 2016 by VRS  |  Email |Print

Despite falling oil prices and bubbles forming in solar energy stocks, sovereign wealth funds had increased exposure to allocating directly into energy sector investments before and after the equity market turmoil in December 2015, according to data from SWFI’s Sovereign Wealth Fund Transaction Database (SWFTD).
Sovereign funds alone invested directly US$ 17.99 billion into the energy sector from March 31, 2015 to March 31, 2016. This is compared to US$ 7.92 billion from the previous term of March 31, 2014 to March 31, 2015. This massive US$ 10 billion expansion in direct energy sector investments demonstrated that wealth funds were bullish and opportunistic at the time………………………………………..Full Article: Source

Abu Dhabi raises stakes in 1MDB dispute with $1.2bn demand

Posted on 12 May 2016 by VRS  |  Email |Print

The row between Abu Dhabi’s sovereign wealth fund and the Malaysian government escalated on Wednesday as the Gulf fund claimed $1.2bn and accrued interest from Malaysia and its troubled state investment vehicle.
The accusation from Abu Dhabi’s International Petroleum Investment Company (Ipic) that the 1Malaysia Development Berhad company had defaulted on a bond interest payment sets the stage for a legal confrontation that may probe claims that billions of dollars have gone astray………………………………………..Full Article: Source

Fractal Analytics raises $100 million from Malaysian sovereign wealth fund Khazanah

Posted on 11 May 2016 by VRS  |  Email |Print

Data analytics company Fractal Analytics, founded in 2000, has raised $100 million (Rs 667 crore) from Malaysian sovereign wealth fund Khazanah in one of the largest investments in the technology ecosystem in 2016.
The investment will value the US and India-based company at close to $300 million (Rs 2,000 crore), according to a source directly familiar with the development, as the company is looking to embark on an aggressive inorganic strategy. Fractal Analytics said that the funding will be used to accelerate its growth, investing in areas like artificial intelligence (AI) to snag Fortune 500 clients. It counts multi-nationals like Franklin Templeton Investments, P&G, Kimberly Clark, Microsoft and Philips as its clients………………………………………..Full Article: Source

Khazanah said to mull selling RM3.6bil of listed stocks

Posted on 11 May 2016 by VRS  |  Email |Print

Sovereign fund Khazanah Nasional Bhd is considering paring its stakes in three listed companies, in deals that could raise as much as RM3.6bil, according to people familiar with the matter.
The state-owned investor asked banks to pitch for a role arranging the sale of about 2% each in Tenaga Nasional Bhd (TNB), IHH Healthcare Bhd and Axiata Group Bhd, according to the people, who asked not to be identified as the information is private. Khazanah, which is the largest shareholder in the three Malaysian companies, might decide to sell stock in one or all of the firms, one of the people said………………………………………..Full Article: Source

Temasek backs London startup Farfetch, an online shopping site for high-end boutiques

Posted on 11 May 2016 by VRS  |  Email |Print

Singapore state fund Temasek Holdings led investors who pumped in US$110 million in a London-based startup venture Farfetch, which sells clothing for high-end boutiques. Temasek’s partners included China venture firm IDG Capital Partners, existing investor Vitruvian Partners and French investment company Eurazeo.
This latest investment, first reported in the The Business of Fashion, brings the total capital raised by Farfetch to some US$304.5 million in close to six years, and raises its valuation to US$1.5 billion………………………………………..Full Article: Source

GIC participates in Hellman & Friedman’s acquisition of MultiPlan

Posted on 11 May 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC, and Leonard Green & Partners, are participating in a transaction led by private equity (PE) firm Hellman & Friedman to acquire MultiPlan, Inc., a provider of healthcare cost management solutions.
Hellman & Friedman will be acquiring control of the company from Starr Investment Holdings, LLC and Partners Group, who will retain minority investments in the company on behalf of their clients. Financial terms of the transaction are undisclosed. The rise of healthcare costs in the city-state, which attained increased visibility in 2015, may be one factor motivating GIC’s participation in the investment, especially given the unfavourable demographics of the city-state, which alongside Japan is seeing a rapid rise in its geriatric population………………………………………..Full Article: Source

Qatar Investment Authority, Starwood in rumoured talks for major US hotel purchase

Posted on 09 May 2016 by VRS  |  Email |Print

Qatar’s sovereign wealth fund is reportedly in talks to buy luxury hotels in New York and San Francisco from Starwood Hotels & Resorts Worldwide. Bloomberg reported on Thursday that the Qatar Investment Authority is in advanced talks to buy the St Regis hotels, citing people with knowledge of the discussions.
The properties may be worth as much as $1 billion, the sources told Bloomberg. The St Regis New York on 55th Street off Fifth Avenue, has 238 rooms while the California property has 260 rooms………………………………………..Full Article: Source

Dubai’s ICD snaps up Montenegro super-yacht marina

Posted on 09 May 2016 by VRS  |  Email |Print

Investment Corporation of Dubai (ICD) has acquired an exclusive marina development in Montenegro for a price thought to be in the region of $287.5 million. The Dubai sovereign wealth fund has bought Canadian billionaire Peter Munk’s majority stake in Porto Montenegro, one of the world’s largest super yacht marinas.
In a statement, Mohammed Al Shaibani, executive director and CEO of ICD, said: “[The deal] represents a strategic fit with our expansion plans into international luxury real estate and hospitality sectors whilst providing exposure to a new geography.”……………………………………….Full Article: Source

Qatar in talks for St. Regis San Francisco

Posted on 06 May 2016 by VRS  |  Email |Print

The Qatar Investment Authority, the energy-rich nation’s sovereign wealth fund, is reportedly in advanced negotiations to buy the St. Regis luxury hotels in New York and San Francisco from Starwood Hotels & Resorts.
Both hotels are owned by Starwood Hotels & Resorts, which is currently finalizing a $12.4 billion takeover by fellow international hotel chain Marriott International that is expected to create the world’s largest hotel operator. Starwood is looking to sell five U.S. hotels in advance of the deal’s closing, including properties in Maui, Atlanta and Chicago, while also seeking a leasehold sale of the W New York in Times Square………………………………………..Full Article: Source

Temasek unit backs startup Singapore diamond exchange as trading kicks off

Posted on 06 May 2016 by VRS  |  Email |Print

Singapore state investment company Temasek Holdings is throwing its weight behind a diamond exchange that began trading here on Thursday (May 5), backing the project through venture-capital unit Vertex Venture Holdings.
Investors can trade single stones as well as so-called baskets of investment-grade diamonds electronically for physical settlement, the Singapore Diamond Investment Exchange said in a statement. At first, the exchange aims to support spot trading, with plans for derivatives and exchange-traded products………………………………………..Full Article: Source

Temasek participates in $110m Farfetch investment

Posted on 06 May 2016 by VRS  |  Email |Print

London-based startup venture Farfetch, which sells clothing for high-end boutiques, has raised a US$110 million investment, in a round led by Singapore’s state fund Temasek Holdings, a new investor. The investment also saw participation from IDG Capital Partners, Vitruvian Partners and Eurazeo.
This strategic investment will Farfetch’s technology platform expanded, as well as expansion of its Asia Pacific (APAC) footprint. First reported in the The Business of Fashion, this latest round puts its post-money valuation at $1.5 billion, and makes the transaction an outlier amidst a decline in valuations amongst various technology startup ventures………………………………………..Full Article: Source

Temasek in talks to buy stake in Aster DM Healthcare

Posted on 06 May 2016 by VRS  |  Email |Print

US-based private equity firm General Atlantic Llc and Singapore’s sovereign fund Temasek Holdings Pte Ltd are in separate discussions to acquire a minority stake in Dubai-based Aster DM Healthcare, said two persons close to the development. The new investors will buy about 10-15% stake in DM, they said.
The company, which has been planning an initial public offering (IPO), will do a pre-IPO round of funding to allow existing investors to exit. As such, Olympus Capital Asia Investments Ltd and India Value Fund Advisors, which own equity in DM Healthcare will dilute part of their stake along with the promoters. Existing investors hold about 40% stake in DM Healthcare………………………………………..Full Article: Source

Bahrain’s sovereign wealth fund eyes Saudi investments

Posted on 05 May 2016 by VRS  |  Email |Print

Bahrain’s sovereign wealth fund Mumtalakat Holding Co. is looking to invest in Saudi Arabia as the country prepares to privatize state-owned entities under the Saudi Vision 2030 plan, MEED reported, citing the fund’s chief executive Mahmood Hashim Alkooheji.
“I think yes. It is a very important market to us,” Alkooheji said during the Euromoney Saudi Arabia conference in Riyadh. “The region offers a lot of opportunities. We have made investments in the UAE, the US and we invested in Spain and hopefully, we will be able to invest with our bothers in the Saudi Arabia as well.”……………………………………….Full Article: Source

Big investor sticks with Duke Energy — at least for now

Posted on 05 May 2016 by VRS  |  Email |Print

Norges Bank Investment Management, which controls Norway’s $900 billion Sovereign Wealth Fund, holds almost 4.7 million shares in Charlotte-based Duke Energy, according to the most recent information available from Securities and Exchange Commission filings.
That is down about 1 million shares from the number of shares Norges held last year. But Norges remains the 18th-largest institutional holder in Duke. It is not yet clear if Norges will continue to hold on to those shares for the Norwegian government fund. The Norwegian parliament voted last year to have the fund consider divesting itself of companies that are overly dependent on coal………………………………………..Full Article: Source

Temasek Unit Backs Startup Diamond Exchange as Trade Kicks Off

Posted on 05 May 2016 by VRS  |  Email |Print

Singapore state investment company Temasek Holdings Pte is throwing its weight behind a diamond exchange that began trading in the city-state on Thursday, backing the project through venture-capital unit Vertex Venture Holdings.
Investors can trade single stones as well as so-called baskets of investment-grade diamonds electronically for physical settlement, the Singapore Diamond Investment Exchange said in a statement. At first, the exchange aims to support spot trading, with plans for derivatives and exchange-traded products………………………………………..Full Article: Source

Here Are 4 Ways to Invest Like the Pros at Sovereign-Wealth Funds

Posted on 05 May 2016 by VRS  |  Email |Print

In the world of investing, there are the small players, big players and then the biggest players of all: sovereign-wealth funds, which are state-owned investment funds. The world’s SWFs manage trillions of dollars’ worth of investments on behalf of the governments that raised these funds through different forms of taxes, most frequently, by taxing natural-resource extraction.
The funds are usually set aside for when they are needed but in the meantime are allocated in a wide array of investments. The largest SWF is Norway’s, Norway Government Pension Fund Global, which as of last June controlled $873 billion, according to the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Asset Allocation: Saying no to infrastructure

Posted on 04 May 2016 by VRS  |  Email |Print

Norway’s decision to keep unlisted infrastructure out of its sovereign wealth fund (SWF) has raised questions about the investment case for the asset class. At the beginning of April, the Norwegian Ministry of Finance declared that it would not permit unlisted infrastructure investments in the SWF because the potential benefits were unclear.
The Government Pension Fund consists of the former oil fund, the NOK7.47trn (€802bn) Government Pension Fund Global (GPFG), and the much smaller, domestically-orientated NOK198bn Government Pension Fund Norway (GPFN)………………………………………..Full Article: Source

Azerbaijan’s SOFAZ continues funding of floating drilling rig project

Posted on 04 May 2016 by VRS  |  Email |Print

Azerbaijan’s state oil fund has issued $718.6 million to fund construction of a new generation floating drilling rig in Azerbaijan since the project launch. The Fund told Trend that $22.6 million was issued for the project in the first quarter of 2016.
The project cost hits $1,117 billion. The drilling operator is “Caspian Drilling Company” (CDC), in which SOCAR owns 92.44-percent share. The Singaporean Keppel FELS Limited was chosen as the contractor of the drilling rig’s construction………………………………………..Full Article: Source

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