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Norwegian oil fund, TIAA-CREF take stakes in US office asset

Posted on 29 October 2014 by VRS  |  Email |Print

Norges Bank Investment Management (NBIM) and TIAA-CREF have bought stakes in a US office property. he Norwegian sovereign wealth fund said it paid $196m (€154m) for its 49.9% stake in the 17th Street building in Washington DC.
TIAA-CREF, with a 50.1% stake, will asset-manage the property for the joint venture. he 364,502sqft property is, it added, “unencumbered by debt”………………………………………..Full Article: Source

Qatar Fund arrives Sri Lanka with US$ 100 mn

Posted on 28 October 2014 by VRS  |  Email |Print

The second largest sovereign investment giant in the Gulf region said it is scouting Sri Lanka for implementation ready projects and is vying for Sri Lanka’s surging Stock Market. Qatar Holding LLC is the investment arm of the Qatar Investment Authority (QIA) which is well-known and also called as the Qatar Fund.
QIA is the second largest sovereign wealth fund in the Gulf Cooperation Council region after Saudi Arabian General Investment Authority (SAGIA). QIA’s QH was established in 2006. QH invests internationally and locally in strategic private and public equity as well as in other direct investments, and is considered to have a high profile global outreach………………………………………..Full Article: Source

Will China ride to the rescue of Britain’s dilapidated infrastructure?

Posted on 28 October 2014 by VRS  |  Email |Print

As debate rages over the costs of HS2 and how a proposed “HS3” high speed rail link will be funded, a new report estimates China will invest more than £100bn in UK infrastructure over the next 11 years.
China’s sovereign wealth fund, the China Investment Corporation (CIC), has been pouring cash into a number of UK infrastructure companies over the last five years, including taking a 10pc stake in Heathrow Airport, which is valued at $730m (£453m)………………………………………..Full Article: Source

Alaska Permanent Fund Buys Half of Zenia Boulevard Shopping Center

Posted on 28 October 2014 by VRS  |  Email |Print

The Alaska Permanent Fund, State-owned fund managing the U.S. government pensions, also wants to invest in Spanish real estate. The corporation has sealed a deal with Inmochan, property management arm of the Auchan group, on co-investment in three retail parks, two of them located in Portugal and one in Spain.
The Alaska Permanent Fund is going to award management of the shopping malls to CBRE Global Investors. The U.S. investor was assisted by Deloitte Real Estate in the deal. The three properties will be administered by a joint venture created by the parties and held fifty-fifty. The operation is said to involve a €150 million amount………………………………………..Full Article: Source

GIC buys 5 pct stake in US-listed healthcare tech firm IMS

Posted on 27 October 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC has bought a 5 percent stake in IMS Health Holdings, a U.S.-listed technology firm servicing the healthcare sector, for an undisclosed amount, according to a regulatory filing.
GIC Private Ltd bought common stock of IMS Health earlier this month, according to a Securities and Exchange Commission filing on Oct 23. TPG Capital owns about 48 percent of IMS Health, which has a market value of $8.7 billion, Thomson Reuters data shows………………………………………..Full Article: Source

China set to invest £105bn in UK infrastructure by 2025

Posted on 27 October 2014 by VRS  |  Email |Print

China is set to invest £105bn in British infrastructure by 2025, with energy, property and transport the biggest recipients, according to research. The world’s second-biggest economy has already invested £11.7bn in Britain between 2005 and 2013, including a 10 per cent stake in Thames Water, Britain’s biggest water utility, held by the China Investment Corporation, the sovereign wealth fund.
This is expected to rise rapidly as Chinese capital seeks a safe haven for outbound investment, according to a report by the London-based Centre for Economics and Business Research and the law firm Pinsent Masons, which is due to be launched by the Chinese International Contractors Association in Beijing next month………………………………………..Full Article: Source

Kuwaiti sovereign wealth fund plots $5bn sale of stakes in three portfolio firms

Posted on 27 October 2014 by VRS  |  Email |Print

The Kuwait Investment Authority outlined plans on Thursday to divest its holdings in three domestic listed companies, Kuwait Investment Company, Kuwait Finance House and Zain, saying it would reinvest the proceeds in investment funds.
The $400bn sovereign wealth fund, whose stakes in the three businesses are currently worth more than $5bn, said that it will factor in prevailing market sentiment before proceeding with the proposed share sales………………………………………..Full Article: Source

TIH acquires $129 million of assets from Temasek

Posted on 23 October 2014 by VRS  |  Email |Print

Singapore-listed private equity fund TIH has completed a $129 million acquisition of assets from Temasek Holdings. The move is part of TIH’s new strategy to move beyond private equity and venture capital investments, TIH chairman Kin Chan said in a statement.
The assets include a minority interest in CEI Contract Manufacturing and the assignment of beneficial ownership in a minority interest of Mitsui Life Insurance Company. Mr Allen Wang, chief executive of TIH Investment Management, which manages TIH, said: “Our expertise lies in corporate finance and cross-border mergers and acquisitions… and we will work with them to see how they can grow their businesses.”……………………………………….Full Article: Source

IFC may invest up to $75M in Temasek’s local NBFC arm Fullerton India through NCDs

Posted on 23 October 2014 by VRS  |  Email |Print

International Finance Corporation (IFC), the private sector investment arm of the World Bank, may put in up to Rs 450 crore ($73.6 million) in Mumbai-based Fullerton India Credit Company Ltd (FICCL), a financial services firm owned by Singapore’s sovereign wealth fund Temasek, it said on Tuesday.
IFC seeks to invest through subscription of secured non-convertible debentures (NCD) that would be rated, listed and tradable on the Bombay Stock Exchange. FICCL is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Ltd., which in turn is a wholly owned subsidiary of Temasek Holdings Pte. Ltd., Singapore………………………………………..Full Article: Source

Nigeria’s Sovereign Wealth Fund: Investment plans unaffected by falling oil prices

Posted on 22 October 2014 by VRS  |  Email |Print

Nigeria’s sovereign wealth fund said its investment programme over the next six months, including on infrastructure, will go ahead, even as revenues that provide its capital are hit by falling oil prices.
Uche Orji, Chief Executive of the Nigeria Investment Authority, highlighted one of the vehicle’s core aims is to manage oil export windfalls to cushion the economy in harder times. “The oil price, yes, it’s come down. But frankly, let’s not forget why this fund was set up. It was to prepare us for days like this,” he told Reuters on the sidelines of an African investment conference in London on Tuesday………………………………………..Full Article: Source

Only 4.4% of SOFAZ investment portfolio intended for active investment

Posted on 22 October 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ), known for its conservatism, intended no more than 4.4% of its investment portfolio or about $1.639 bn for active investment instruments.
According to the Fund, by October 1, 0.9% ($440.391 million) of its investment portfolio ($37.265 bn) was intended for project financing and 3.5% ($1.199 bn) was invested in stocks. The rest investments were passive: fixed-income securities (82.2% of portfolio), deposits and market instruments (7.4%), physical gold (3.2%) and real estate (2.8%)………………………………………..Full Article: Source

QIA, Lau mull Lifestyle takeover

Posted on 21 October 2014 by VRS  |  Email |Print

Qatar Investment Authority (QIA) and Hong Kong’s Lau family are considering options, including a full takeover of department store operator Lifestyle International Holdings Ltd, after the sovereign wealth fund bought a minority stake, according to people with knowledge of the matter.
QIA and Thomas Lau, Lifestyle’s chief executive officer and largest shareholder, see more value in the US$2.9 billion (RM9.5 billion) company by taking it private, the people said. QIA yesterday agreed to buy 19.9 per cent of Lifestyle, the owner of Sogo department store, for about HK$4.78 billion (RM2 billion). A full takeover offer isn’t imminent, the people said………………………………………..Full Article: Source

Qatar Fund to Pay $616M for Stake in Hong Kong Retailer

Posted on 21 October 2014 by VRS  |  Email |Print

Qatar Investment Authority agreed to pay about HK$4.78 billion ($616 million) for a stake in a Hong Kong department store operator as the sovereign wealth fund diversifies its global portfolio.
QIA, the owner of the Harrods department store in London, agreed to buy 20 percent of Lifestyle International Holdings Ltd. for HK$14.75 a share, according to a statement from the Hong Kong-listed company. Lifestyle shares fell as much as 7.3 percent to HK$13.54 in the city as they resumed trading today after being halted on Sept. 24………………………………………..Full Article: Source

State Oil Fund of Azerbaijan does not buy physical gold for 2 quarter at a run

Posted on 21 October 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has not bought physical gold for two quarters (Q2 and Q3 of 2014) at a run. The Fund informs that as of 1 October it had physical gold in the amount of $1.18 bn that was equivalent to 3.2% of its investment portfolio ($37.265 bn.
“By the reported date SOFAZ had at disposal 30.17 tons of gold (970,146 ounces),” the Fund reported. This level of reserves was similar to the indicator by 1 April 2014. Nevertheless, SOFAZ can buy more gold, at least, for $680.1 million, as investment rules allow the Fund to invest in physical gold up to 5% of its portfolio, that as of 1 October 1 was equivalent to $1.86 bn………………………………………..Full Article: Source

Qatar fund to buy stake in HK department store operator for $616 mln

Posted on 20 October 2014 by VRS  |  Email |Print

Qatar Holding LLC has agreed to pay $616 million for about one fifth of Lifestyle International Holdings, a department operator in Hong Kong and mainland China - the latest addition of a high-end retail brand to the sovereign wealth fund’s portfolio.
Lifestyle’s stores include a SOGO branded store in Hong Kong’s bustling shopping district of Causeway Bay and four Jiuguang stores on the mainland. A unit of Qatar Holding will pay HK$14.75 per share for the 19.9 percent stake, a 1 percent premium to Lifestyle’s last traded price of HK$14.60, the statement added. Qatar Holding will get one board seat on the completion of the transaction………………………………………..Full Article: Source

Qatar eyes $15bn Greater China spending spree

Posted on 20 October 2014 by VRS  |  Email |Print

Qatar’s purchase of a stake in a Hong Kong department store chain is the beginning of a potential $15bn spending spree targeting Greater China, according to people familiar with the Gulf state’s plans. Qatar Holding, which owns stakes in Harrods, Barclays, Credit Suisse and Canary Wharf Group among others, on Monday said it would pay $616m for a near-20 per cent stake in Lifestyle International Holdings, owner of Hong Kong’s SOGO department stores.
The fund’s parent, Qatar Investment Authority, aims to spend up to $15bn in the medium term to bolster its presence in north Asia, according to people familiar with the matter………………………………………..Full Article: Source

TIH wraps up S$129m in acquisitions from Temasek Holdings

Posted on 20 October 2014 by VRS  |  Email |Print

Private equity fund TIH Limited’s subsidiary TIHT Investment Holdings has completed a S$129 million acquisition of assets from Temasek Holdings. This comprises a minority interest in CEI Contract Manufacturing Limited and the assignment of beneficial ownership in a minority interest of Mitsui Life Insurance Company Limited.
The consideration of S$129 million is payable partly in cash, partly by way of financing and an issue of shares in TIHT. Post-completion, TIHT will be 55 per cent owned by Killian Court, a direct wholly-owned subsidiary of TIH and 45 per cent owned through an indirect wholly-owned subsidiary of Temasek………………………………………..Full Article: Source

Citycon acquires GIC’s ownership stake in the Iso Omena shopping centre

Posted on 17 October 2014 by VRS  |  Email |Print

Citycon has today agreed to acquire GIC’s 40 per cent stake in the Iso Omena shopping centre in the Helsinki region. After this transaction, Citycon owns 100 per cent of the existing shopping centre. The purchase price is in line with the current fair value of Iso Omena. GIC has been a co-investor in Iso Omena since 2008. During this period, Iso Omena has shown strong performance with net rental income increasing by approximately 30 per cent, and footfall and sales by approximately 17 per cent.
“We have been very pleased with the joint venture with GIC and want to thank them for their commitment in making Iso Omena one of the best shopping centres in the Helsinki region. As we enter a new development phase, we believe full ownership of the property will provide flexibility in terms of future development possibilities,” says Citycon’s CEO Marcel Kokkeel……………………………………….Full Article: Source

BlackRock’s Fink says sovereign wealth funds are staying in equities -CNBC

Posted on 16 October 2014 by VRS  |  Email |Print

U.S. asset manager BlackRock Inc has not seen more than one sovereign wealth fund sell out of equities in last six weeks despite the global market volatility, Chief Executive Officer Larry Fink told CNBC Wednesday morning.
Overall, Fink said he would like to see the U.S. Federal Reserve take action and raise interest rates to between 1 percent and 1.25 percent, which he believes would be good for the U.S. economy. The New York-based company reported a 10 percent increase in assets under management and a 26 percent increase in earnings from the third quarter of last year………………………………………..Full Article: Source

Blackstone Joins Mideast Funds for Stake in Dubai’s GEMS

Posted on 16 October 2014 by VRS  |  Email |Print

Blackstone Group LP is taking a stake in GEMS Education, the world’s biggest privately held schools operator, as part of a group of investors led by Dubai-based Fajr Capital Ltd.
Mumtalakat, the Bahraini sovereign wealth fund, is also part of the investment group taking a “significant” minority stake in GEMS’s emerging-markets business, covering the Middle East, North Africa and Asia, the company said today in a statement. Financial terms of the transaction weren’t disclosed………………………………………..Full Article: Source

Indian President Pranab in lobbyist role; Noway SWF

Posted on 15 October 2014 by VRS  |  Email |Print

President Pranab Mukherjee, blamed by some for driving away foreign investment as a UPA finance minister, is this week donning the mantle of chief lobbyist to re-ignite interest from Europe’s largest sovereign wealth fund — for Prime Minister Narendra Modi.
Norway holds Europe’s largest sovereign wealth fund — a state-owned investment fund used by nations to plough money usually into stocks, equities, markets or infrastructure projects that the country deems will earn it safe, high returns. Of its $890bn (Rs 54.3 lakh crore) sovereign fund, Norway has currently invested only about $4bn in Indian stock markets and specific infrastructure projects………………………………………..Full Article: Source

Penang woos Singapore investors following Temasek deal

Posted on 15 October 2014 by VRS  |  Email |Print

Amid a spat with Putrajaya over federal assistance to draw investors to Penang, the state government will boost its efforts to draw more Singaporean investors following its recent partnership with the republic’s Temasek Holdings to develop a RM11.3 billion business and a technology hub.
Chief Minister Lim Guan Eng, who is leading a two-day investment mission to Singapore tomorrow, said Penang wanted to sell the message that the northern Malaysian state was an ideal location, especially in terms of human talent……………………………………….Full Article: Source

Temasek to take stake in Devyani Intl

Posted on 14 October 2014 by VRS  |  Email |Print

Singapore’s state investor, Temasek Holdings, has decided to take a stake in Indian restaurant operator Devyani International. A Channel News Asia report said a Temasek spokesman has confirmed the investment but declined to provide details such as the value of the stake.
According to media reports, Temasek would buy an existing Rs. 100 crore stake in Devyani from ICICI Venture, the private equity arm of private sector ICICI Bank. Devyani International operates more than 300 food and beverage outlets in India, Nepal and Nigeria………………………………………..Full Article: Source

Vietnam Investment Arm Calls for Fewer State Stake Purchases

Posted on 14 October 2014 by VRS  |  Email |Print

A Vietnamese government investment arm that’s been newly charged with buying stakes in state companies with failed public offerings is calling for scaled- down purchases, countering an aggressive government plan. State Capital Investment Corp., which holds state stakes in listed companies, says it is asking the government to “narrow down and prioritize” the number of firms it has to invest in among the 340 businesses that are required to sell shares by end-2015, according to Deputy General Director Le Song Lai.
“We need from the government specific criteria for the stake purchases,” Lai said in a phone interview Oct. 10 in Hanoi. “The 340 companies is too many. It will be very hard for us to do the job with such vagueness.”……………………………………….Full Article: Source

Okonjo-Iweala woos investors to Nigeria

Posted on 13 October 2014 by VRS  |  Email |Print

Dr Ngozi Okonjo-Iweala, the Minister of Finance, has urged foreign investors to continue to invest in Nigeria through the Nigeria Sovereign Investment Authority (NSIA). Okonjo-Iweala made this known at a meeting with Business Council for International Understanding at the Annual Meetings of the World Bank and International Monetary Fund in Washington DC.
She said that Nigeria Sovereign Wealth Fund (NSWF) had been rated second most transparent in the world after that of Norway. “The NSWF has now been rated the second most transparent after Norway by the Sovereign Wealth Fund institute and that is saying a lot………………………………………..Full Article: Source

Singapore’s GIC eyes NZ retail assets

Posted on 13 October 2014 by VRS  |  Email |Print

The Government of Singapore Investment Corporation (GIC) has reportedly submitted a US$875 million-plus bid to acquire significant retail assets in New Zealand. According to Australia’s Business Spectator, the city-state’s sovereign wealth fund (SWF) is seeking to take possession of Scentre’s shopping malls in the country, as it continues its push into non-traditional assets classes such as real estate.
Scentre itself had taken control of the retail assets in Australia and New Zealand when they were spun-off from conglomerate Westfield earlier this year. Scentre was said to be mulling listing these assets on either the Australian or New Zealand bourse before the GIC offer came in. Scentre’s retail assets include large shopping malls in cities such as Auckland, Christchurch and Wellington………………………………………..Full Article: Source

GIC invests in US tech startup Square

Posted on 10 October 2014 by VRS  |  Email |Print

GIC, Singapore’s sovereign wealth fund, has invested in Square, a United States-based technology startup behind various products and services such as Square Register, a free point-of-sale app for the Android and iOS systems.
“As a long-term value investor, GIC believes the rising secular trend and penetration of mobile payment software will present good investment opportunities. Square, in particular, plays a key role in accelerating the acceptance of all forms of payments in the small and medium businesses’ sector,” GIC said in a statement issued on Friday……………………………………….Full Article: Source

Temasek to buy US$82m stake in India’s Devyani

Posted on 10 October 2014 by VRS  |  Email |Print

Temasek Holdings has agreed to invest US$82 million to buy a stake in Devyani International, operator of KFC, Pizza Hut and Costa Coffee chains in India, three sources with direct knowledge of the matter said. The sources said the Singapore state investor would use 1 billion rupees (S$20.8 million) to purchase part of a holding in Devyani by ICICI Venture, the private equity arm of ICICI Bank.
The rest would be a direct purchase in the restaurant chain operator, the sources added, declining to specify the percentage stake that Temasek would acquire. “The deal is done and an announcement is likely very soon,”one of the sources said………………………………………..Full Article: Source

GIC eyes Scentre’s $1bn NZ assets

Posted on 09 October 2014 by VRS  |  Email |Print

Singapore’s GIC is believed to have submitted an attractive proposal to acquire Scentre’s $1 billion-plus New Zealand portfolio, but it remains to be seen whether the company will take the offer or pursue a float of the ­assets.
Scentre, which owns the Australian and New Zealand shopping malls that were spun out of Westfield this year, is also widely believed to be contemplating spinning off the assets into a new vehicle that will be listed on either the NZ stock exchange or the Australian bourse. There is much speculation on the NZ portfolio with Scentre also tipped to have sounded out UBS and JPMorgan on a potential float………………………………………..Full Article: Source

Mubadala buys Hewlett Packard stake in IT services provider

Posted on 08 October 2014 by VRS  |  Email |Print

Abu Dhabi-based Mubadala Development Company on Tuesday announced the acquisition of Hewlett-Packard’s shares in regional IT services provider Injazat Data Systems. Through the acquisition of the 40 percent stake in Injazat, Mubadala said it is reaffirming its approach of investing in robust Information & Communication Technology (ICT) infrastructure and operations.
Injazat built the region’s first Tier IV data centre, offering organizations the highest levels of IT security, quality and operational reliability, Mubabala said in a statement, without saying how much it had paid HP for the stake………………………………………..Full Article: Source

Singapore’s GIC leads US$150M Series E round in Square

Posted on 08 October 2014 by VRS  |  Email |Print

US-based Square Inc yesterday received US$150 million in a Series E round led by the Government of Singapore Investment Corporation (GIC), according to the New York Times.
In the same report, a well-placed source noted that the financial technology startup will now be valued at US$6 billion. The spokesperson added that the round also saw past investors like Goldman Sachs and Rizvi Traverse Management as participants………………………………………..Full Article: Source

Permanent Fund debated as source of state cash for investment in gas export project

Posted on 08 October 2014 by VRS  |  Email |Print

Alaska may have an opportunity for a potentially risky but very profitable investment when it comes to decision time on a liquefied natural gas export project. But budget deficits are eating into Alaska’s readily available savings, and there may not be much other than the Alaska Permanent Fund left when it comes time to make those multibillion-dollar investments.
So should the Permanent Fund consider investing some of its $50 billion portfolio in a pipeline project?……………………………………….Full Article: Source

GIC acquires remaining 50% stake in RomaEst Shopping Centre

Posted on 07 October 2014 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has acquired a 50 per cent interest in RomaEst Shopping Centre from a fund managed by CBRE Global Investors. GIC, which already owns 50 per cent of RomaEst through an affiliate, will be the sole owner of the Italian shopping centre. CBRE Global Investors will continue to be the asset manager for the centre.
GIC said in a news release on Monday (Oct 6) that the acquisition demonstrates its confidence in the long-term prospects for Italy and in the future demand for prime regional centres. In addition to RomaEst’s stable cash flows, GIC sees opportunities to add value to the centre through active asset management, including leasing and refurbishment strategies………………………………………..Full Article: Source

Singaporean wealth fund joins GBP1bn airport talks

Posted on 06 October 2014 by VRS  |  Email |Print

The Singaporean sovereign wealth fund is thought to be set to join Spanish infrastructure firm Ferrovial and Australian bank Macquarie in buying Aberdeen and Glasgow airports as part of a £1 billion deal. Sources close to the talks suggest that a deal could be announced early next week which would see Heathrow Airport Holdings (HAH) sell the two Scottish airports along with its Southampton site.
Although Ferrovial and Macquarie have previously been linked to a deal for the airports, according to a report yesterday the Singapore sovereign fund GIC is also looking to take an equity stake as part of an agreement………………………………………..Full Article: Source

Mexico set to become a rising investment honeypot

Posted on 06 October 2014 by VRS  |  Email |Print

Last week a private sovereign wealth fund, considered one of the original China bulls, made a large move into new geography and in so doing flagged to us where the smart money is looking in 2015.
The large sovereign wealth fund investment last week was made in Mexico — an economy thought to be a new contender and whose rejuvenated export-led market represents a China hedge for the US consumer and global investors next year………………………………………..Full Article: Source

China’s CIC, AVIC end talks to acquire Avolon, say sources

Posted on 03 October 2014 by VRS  |  Email |Print

China Investment Corp (CIC) and AVIC Capital Co Ltd have ended talks to acquire Avolon Holdings Ltd, making it likely that the aircraft leasing company will pursue an initial public offering, according to people familiar with the matter.
CIC, China’s sovereign wealth fund, and AVIC, a Chinese state-owned aerospace and defense company, were in talks to acquire Avolon for between $4 billion and $5 billion, Reuters reported in August. AVIC subsequently confirmed the discussions, cautioning there was uncertainty over the potential deal………………………………………..Full Article: Source

ICD mulls key investment in Nigerian cement firm

Posted on 03 October 2014 by VRS  |  Email |Print

Investment Corp of Dubai (ICD), the emirate’s sovereign wealth fund, said it is exploring further investment opportunities with Nigeria’s largest cement manufacturer Dangote after purchasing a minority stake in the African group last month.
Dangote Cement, which is listed on the Nigeria Stock Exchange, forms part of the Dangote Group, a diversified conglomerate of African businesses. “We have been looking at Africa for a long time. We are looking to do more business with Dangote and we have some ventures that we are exploring at the moment together,” Mohammed Al Shaibani told an Africa-focussed investment event in Dubai on Wednesday………………………………………..Full Article: Source

NantHealth Raises $320M Funding Round

Posted on 03 October 2014 by VRS  |  Email |Print

In what looks to be the largest funding round for Southern California in a very long while, Los Angeles-based NantHealth, the life sciences and technology firm started by billionaire Dr. Patrick Soon-Shiong, said Wednesday that it has raised a total of $320M in it Series B funding. The company said the round closed with a $250M investment from the Kuwait Investment Authority (KIA).
As part of the funding, the company said it has appointed a number of executives to its team, including naming Steve Curd as its Chief Operating Officer, Laura Beggrow as EVP, Commercialization, and Scott Holbrook to its board………………………………………..Full Article: Source

Russia’s Sovereign Fund Invests Lobbying $$$ in Capitol Counsel

Posted on 02 October 2014 by VRS  |  Email |Print

The Russian Direct Investment Fund, which has more than $10B in assets, has invested $90K in a two-month effort by Capitol Counsel LLC to educate US Treasury staffers and policymakers about its operation. The Financial Times reported Sept. 21 that RDIV is battling to preserve its goals as relations between Moscow and West plummet.
Russia’s sovereign fund has avoided US economic sanctions, though its parent, state-owned VEB, and supervisory board member Sergei Ivanov, who was Vladimir Putin’s chief of staff, are on the list. Capitol Counsel, which is headed by Democratic lobbyist John Raffaelli, is to assist RDIF correct “significantly misstated” press reports, according to the representation agreement………………………………………..Full Article: Source

Singapore’s GIC to invest over 200 mln euros in Spanish property firm

Posted on 02 October 2014 by VRS  |  Email |Print

Singaporean sovereign wealth fund GIC has agreed to pay more than 200 million euros ($252 million) for a 30 percent stake in unlisted Spanish real estate firm Gmp, the two companies said in a statement on Wednesday.
“As a long-term value investor, this is a good opportunity for GIC to gain access to a large and diversified office portfolio in Madrid and leverage on Gmp’s local expertise to grow our exposure,” said Chris Morrish, regional head of Europe at GIC real estate………………………………………..Full Article: Source

China’s CIC, AVIC end talks to acquire Avolon

Posted on 02 October 2014 by VRS  |  Email |Print

China Investment Corp (CIC) and AVIC Capital Co Ltd have ended talks to acquire Avolon Holdings Ltd, making it likely that the aircraft leasing company will pursue an initial public offering, according to people familiar with the matter.
CIC, China’s sovereign wealth fund, and AVIC, a Chinese state-owned aerospace and defense company, were in talks to acquire Avolon for between $4 billion and $5 billion, Reuters reported in August. AVIC subsequently confirmed the discussions, cautioning there was uncertainty over the potential deal………………………………………..Full Article: Source

Samruk Kazyna Privatisation Drive Offers New Investment Opportunities

Posted on 02 October 2014 by VRS  |  Email |Print

Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund is moving forward with its plans to sell a sizable part of the enterprises it controls to the private sector. Both Kazakhstan-based and foreign investors will be able to buy shares in 106 companies the state-owned fund manages under the so-called second wave of privatisation. The estimated value of assets to be offered up for sale is $9 billion.
The first wave of privatisation took place in the 1990s when Kazakhstan moved to create a market economy out of the old Soviet, centrally controlled and planned economy. The challenge of the current wave of privatisation is defined as strengthening the foundations of the market economy. The key idea of this campaign is to give impetus to the further development of private business in the country………………………………………..Full Article: Source

CIC cuts stake in Noble Group

Posted on 01 October 2014 by VRS  |  Email |Print

China Investment Corp sold part of its stake in Noble Group, sending shares in the commodity trader tumbling and sparking fears the mainland sovereign wealth fund will eventually move to offload most of its holding. CIC, the second-biggest shareholder, sold shares equivalent to 4.5 per cent of the commodity trader.
The shares were sold at S$1.32 (HK$8.04), the bottom of an indicative range that topped out at S$1.35, raising S$396 million. It was not clear why CIC was selling the stake, but Nathan Gee, an analyst at Bank of America Merrill Lynch, said he did not expect any damage to Noble’s strategic relationships on the mainland………………………………………..Full Article: Source

CIC selling part of Noble Group stake, fans fear of more sales

Posted on 01 October 2014 by VRS  |  Email |Print

China Investment Corp will sell part of its stake in Noble Group Ltd at a 5 percent discount, sending shares in the commodity trader tumbling and sparking fears that CIC would eventually move to offload most of its holding.
The Chinese sovereign wealth fund, Noble’s second biggest shareholder, is selling shares equivalent to 4.5 percent of the commodity trader, a term sheet showed………………………………………..Full Article: Source

CIC to Cut Stake in Singapore Commodity Trader Noble Group

Posted on 30 September 2014 by VRS  |  Email |Print

Sovereign-wealth fund China Investment Corp. is seeking to raise up to 405 million Singapore dollars (US$318 million) by selling a portion of its stake in Singapore-listed commodity trader Noble Group, people with knowledge of the deal said Monday.
CIC, which currently owns close to a 15% stake in Noble Group, will see its holding fall to about 10% post sale, one of the people said. China’s sovereign-wealth fund had spent US$850 million in 2009 to buy a stake in the Hong Kong-based Noble Group, a diversified commodities company with assets ranging from Brazilian sugar mills to Australian iron ore to oilseed-processing facilities in China and India………………………………………..Full Article: Source

Temasek Holdings units take stake in homegrown shoe firm Star 360

Posted on 30 September 2014 by VRS  |  Email |Print

Heliconia Capital and Pavilion Capital, both units of Temasek Holdings, have made an investment in local firm Star 360, a distributor and retailer of sports and fashion footwear, apparel and accessories. None of the parties have disclosed the amount of the investment.
Heliconia is an investment firm that provides growth capital to Singapore’s leading small and medium sized enterprises, while Pavilion specialises in private equity investment in North Asia. As strategic partners, both firms will provide insight and advice on key management decisions………………………………………..Full Article: Source

Aabar wealth fund to work with Goldman Sachs on options for RHB stake

Posted on 29 September 2014 by VRS  |  Email |Print

Aabar Investments PJSC, owned by Abu Dhabi’s sovereign wealth fund, is working with Goldman Sachs Group Inc. as it explores options for its stake in RHB Capital Bhd., according to people with knowledge of the matter.
Aabar, the Malaysian bank’s second-largest shareholder with a 21.2 per cent stake, is seeking to protect the value of its investment as the lender negotiates a three-way merger with CIMB Group Holdings Bhd. and Malaysia Building Society Bhd., the people said. It hasn’t yet signed a formal mandate with Goldman Sachs, one person said, asking not to be identified as the talks are private………………………………………..Full Article: Source

Temasek in talks to buy stake in Indian firm

Posted on 26 September 2014 by VRS  |  Email |Print

Three investment firms, including Singapore’s Temasek Holdings, are in advanced talks to buy a 30 per cent stake in the retail arm of India’s Aditya Birla Group for US$400 million (S$508 million) to US$500 million, two sources with direct knowledge of the matter told Reuters.
The other two firms involved in the talks are LVMH Moet Hennessy Louis Vuitton’s private equity arm, L Capital, and International Finance Corp (IFC), a unit of the World Bank that offers investment, advisory and asset management services to encourage private sector development in developing countries………………………………………..Full Article: Source

Carlyle to Sell Stake in U.K.’s RAC to Singapore’s Sovereign-Wealth Fund

Posted on 26 September 2014 by VRS  |  Email |Print

Carlyle Group has agreed to sell a stake in U.K. roadside-assistant provider RAC to Singapore’s sovereign-wealth fund instead of selling shares in the company to the public as it previously intended. The deal values RAC at more than £2 billion ($3.3 billion), a person familiar with the transaction said.
Carlyle and GIC will jointly own a majority stake and RAC managers will own a minority of the shares, the companies said Thursday in a joint statement. The price wasn’t disclosed. The investment is expected to be completed by the end of the year………………………………………..Full Article: Source

GIC Agrees to Become a Shareholder in RAC With Carlyle

Posted on 26 September 2014 by VRS  |  Email |Print

Carlyle Group LP agreed to sell a stake in U.K. roadside assistance company RAC Ltd. to Singaporean sovereign wealth fund GIC Pte. The world’s second-largest manager of investment alternatives to stocks and bonds will become a joint shareholder with GIC, and RAC management will retain a minority stake, the two companies said in a statement today. The value of the transaction wasn’t disclosed.
“Both Carlyle and GIC believe that RAC has a clear strategy with significant growth potential,” Andrew Burgess, partner at Carlyle Group, said in the statement. “GIC will provide a solid partnership for the business.”……………………………………….Full Article: Source

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