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Norway Group to Study Equity-Share Change for $815 Billion Fund

Posted on 11 January 2016 by VRS  |  Email |Print

Norway set up a committee to review whether to change the $815 billion sovereign wealth fund’s equity share and possibly allow the investor to boost the current 60 percent allocation as it struggles to reach return targets.
Knut Anton Mork, a senior economist at Svenska Handelsbanken in Oslo, will lead the effort along with Sigbjoern Johnsen and Kristin Halvorsen, the predecessors of Finance Minister Siv Jensen, the ministry said in a statement. It will analyze the fund’s expected return and risk with different equity allocations and can propose changes in a report due by Oct. 15. That will be addressed by a government white paper the following spring………………………………………..Full Article: Source

Sovereign Wealth Funds for critical infrastructure

Posted on 11 January 2016 by VRS  |  Email |Print

Nigeria got to a giddy height of low crude oil prices which negatively affected our economy and the currency. Foreign Sovereign Wealth Funds (SWF) are now being sought to upgrade critical mass transit and energy infrastructure worth about N25 billion.
Vice President, Professor Yemi Osibajo who oversees President Muhammadu Buhari’s economic policies, late October 2015 said that other SWFs have indicated interest in the fund which would be used to address the nation’s dilapidated roads, rail and power infrastructure………………………………………..Full Article: Source

Kuwait’s sovereign fund buys Standard Chartered Dubai tower

Posted on 08 January 2016 by VRS  |  Email |Print

Kuwait Investment Authority, one of the world’s largest sovereign wealth funds, bought the Standard Chartered Plc tower in Dubai’s downtown district, signalling investor demand for income-generating assets continues even as oil declines and political tensions mount.
The 13-storey building sold for about Dh650 million, Jim Osborne, a founding partner of developer Gulf Resources Development & Investment, said in a phone interview on Thursday. Calls and e-mails to the KIA and Standard Chartered weren’t returned………………………………………..Full Article: Source

Call for GIC to invest CPF in local stocks stirs debate

Posted on 08 January 2016 by VRS  |  Email |Print

A proposal by the Singapore Business Federation (SBF) for sovereign wealth fund GIC to use Central Provident Fund (CPF) monies to invest in the Singapore stock market touched off a lively debate, with opinion split down the middle.
A number of observers panned the idea, which comes at a time when a government-appointed panel is due to recommend how CPF members can achieve higher returns through private investment plans. They said that Singapore’s market is too small to fulfil GIC’s mandate to preserve Singapore’s purchasing power by achieving long-term, diversified returns………………………………………..Full Article: Source

Oman fund, others plan $260m mining venture

Posted on 06 January 2016 by VRS  |  Email |Print

Oman’s biggest sovereign wealth fund, the State General Reserve Fund (SGRF), plans to cooperate with other state and private investors to establish a venture to buy into the mining industry, officials said on Tuesday.
The venture, Mining Development Oman (MDO), will have SR100 million ($260 million) of capital and establish vehicles for its investments in various locations, the SGRF’s executive president Abdulsalam Al Murshidi told Reuters. Three other state bodies, the Oman Investment Fund, Oman Oil Co, and Oman National Investments Development Co, will combine with the SGRF to take a total 60 per cent stake in MDO………………………………………..Full Article: Source

GIC in joint venture to buy US student housing firm for $2b

Posted on 06 January 2016 by VRS  |  Email |Print

Singapore investment firm GIC has joined hands with two other investors to form a joint venture to acquire a portfolio of student housing units in the United States for US$1.4 billion (S$2 billion). GIC, Canada Pension Plan Investment Board (CPPIB) and the Scion Group signed an agreement to buy the University House Communities Group (UHC), which owns the properties, from InvenTrust Properties.
Through the joint venture, GIC and CPPIB will each own a 47.5 per cent interest in UHC. Scion, which will manage and operate the portfolio, will own the remaining 5 per cent. UHC has properties near top-ranked US university campuses, which comprise nearly 13,000 beds………………………………………..Full Article: Source

Infra projects will get more money this year, says Jaitley

Posted on 06 January 2016 by VRS  |  Email |Print

Committing himself to increasing allocations for infrastructure projects such as rural roads, highways and the railways during 2016-17, Finance Minister Arun Jaitley said on Tuesday that public investments must lead the way during a global slowdown and India had an opportunity to spend more on infrastructure because of low oil, commodities and mineral prices.
Jaitley said funding infrastructure projects remained a big challenge, and the government was hopeful of partnering sovereign wealth funds and pension funds that evinced interest in the National Investment and Infrastructure Fund………………………………………..Full Article: Source

GIC enters joint venture to acquire US student housing portfolio

Posted on 05 January 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has formed a joint venture with Canada Pension Plan Investment Board (CPPIB) and The Scion Group (Scion) to acquire a US student housing portfolio for approximately US$1.4 billion (S$2 billion), the Republic’s sovereign wealth fund announced on Monday (Jan 4).
Through the joint venture, GIC and CPPIB will each own a 47.5 per cent interest in the University House Communities Group (UHC). Scion, which will manage and operate the portfolio, will own the remaining 5 per cent. It added that the venture will also pursue opportunities “to acquire high-quality student housing assets primarily in Tier 1 university markets in the US”………………………………………..Full Article: Source

Russia-China Investment Fund closes deal on purchase of 23.5% stake in JSC Detskiy Mir

Posted on 05 January 2016 by VRS  |  Email |Print

Russia-China Investment Fund (RCIF) has closed the deal to purchase a 23.5% stake in the OAO Detskiy Mir from ZAO DM Finans, a subsidiary of AFK Sistema, RCIF said in a press release on Monday. The deal sum is 9.75 billion roubles ($133.56 million). RCIF is a joint project of Russia’s Direct Investment Fund and China Investment Corporation state-run company.
According to head of the Russian Direct Investment Fund (FDIF) and co-director of RCIF Kirill Dmitriyev, the deal will make it possible to promote the development and further expansion of the Detskiy Mir group on the international scale, including in China and other countries………………………………………..Full Article: Source

Global sovereign funds keen on investing in India: FM Arun Jaitley

Posted on 30 December 2015 by VRS  |  Email |Print

The first meeting of the governing council of National Investment and Infrastructure Fund (NIIF) was held on Tuesday, wherein it was decided to appoint a chief executive officer for the fund by January-end and rope in several sovereign and pension funds to invest in it. In the meeting, possible infrastructure projects that could be taken up by the fund were discussed, finance minister Arun Jaitley said adding that sovereign funds and pension funds from UAE, Singapore, UK and Russia have shown interest to invest in NIIF.
“Several sovereign funds and pension funds across the world have expressed their willingness to participate and cooperate in various manners with the NIIF so the progress with regard to the suggestions which have come from UAE, Singapore, UK and Russia were discussed,” Jaitley told reporters after the meeting………………………………………..Full Article: Source

Largest 10 Direct Sovereign Wealth Fund Deals of 2015

Posted on 29 December 2015 by VRS  |  Email |Print

Large real estate developments like Manhattan West and vast portfolios of industrial properties dominate as some of the biggest sovereign wealth fund transactions in 2015. Despite lingering low oil prices, sovereign wealth funds’ interest in direct deals shows very little signs of abating.
Wealth funds backing these monstrous deals are the China Investment Corporation (CIC), Abu Dhabi Investment Authority (ADIA), Norway’s sovereign wealth fund and the Qatar Investment Authority (QIA). Surprisingly, two large technology plays made the top 10 list this year. A few widely reported deals such as ADIA and CIC buying interests in Autobahn Tank & Rast Holding Gmbh failed to make the final cut. Some notable financial advisors in these deals are UBS, Morgan Stanley and CBRE………………………………………..Full Article: Source

CIC Declares Ownership of 2.1% Stake in SMI

Posted on 29 December 2015 by VRS  |  Email |Print

China Investment Corporation recently revealed that they own 2.1% of Semiconductor Manufacturing Int’l in a Form 13D/A disclosure that was filed with the SEC on Monday, December 28th. The investor owns 905,598,902 shares of the stock worth $4,691,002,312.
The reporting parties listed on the disclosure included China Investment Corporation, Bridge Hill Investments Limited and Country Hill Limited………………………………………..Full Article: Source

Temasek Maintains 12.5% Stake in Tuniu Corp

Posted on 29 December 2015 by VRS  |  Email |Print

Temasek Holdings (Private) Limited recently revealed that they own a 12.5% stake in Tuniu Corp in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, December 22nd. The investor owns 24,583,333 shares of the stock worth about $412,016,661.
The reporting parties listed on the disclosure included Temasek Holdings (Private) Limited, Tembusu Capital Pte Ltd and Esta Investments Pte Ltd. The disclosure is available through EDGAR at this link………………………………………..Full Article: Source

Russian SWFs have shown investment interest in NIIF: FinMin

Posted on 28 December 2015 by VRS  |  Email |Print

Stressing that Russian companies want to be part of ‘Make in India’, Finance Ministry today said Russian sovereign wealth funds, including Rusnano, have shown keen interest to invest in National Investment and Infrastructure Fund (NIIF).
“Very positive discussions in India Russia CEOs meeting. Great interest from Russian side to invest in India and be part of Make in India,” Economic Affairs Secretary Shaktikanta Das tweeted. Hard selling India as an attractive investment destination, Prime Minister Narendra Modi has invited Russian CEOs to invest in sectors like infrastructure, aerospace and diamond………………………………………..Full Article: Source

DLF gets Rs 1,992 crore from GIC for stake sale in 2 projects

Posted on 28 December 2015 by VRS  |  Email |Print

India’s largest real estate firm DLF has said that it has received Rs 1,992 crore from Singapore’s sovereign wealth fund GIC after the completion of its deal to sell 50 per cent stake in two of its new projects in Delhi. DLF had earlier announced that it has signed an agreement with GIC to enter into a joint venture to invest in two upcoming projects located in central Delhi.
The deal was later approved by the Competition Commission of India. “DLF Ltd has now informed BSE that subsequent to receipt of CCI approval and having met other preclosing conditions, the funding for the above said transaction has been concluded on December 23, 2015 with the receipt of Rs 1,992 crore from GIC, Singapore’s sovereign wealth fund,” the company said in a filing to the Bombay Stock Exchange. ……………………………………….Full Article: Source

Abu Dhabi sovereign fund looks beyond trophy sites and major cities

Posted on 21 December 2015 by VRS  |  Email |Print

The four-star Renaissance hotel in Raleigh, N.C., and the cluster of 75 residential apartments in east London called Fizzy Canning Town have little in common except that they share a landlord based in a Middle Eastern desert thousands of miles away.
That landlord—the Abu Dhabi Investment Authority, or ADIA—has become one of the largest property owners in the world. Increasingly, its army of Persian Gulf-based deal makers is looking beyond the trophy properties that have attracted sovereign-wealth funds in the past to a broader range of cities and buildings………………………………………..Full Article: Source

Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million

Posted on 21 December 2015 by VRS  |  Email |Print

Accel Partners has sold a fractional stake in Flipkart to Qatar Investment Authority for $100 million (about Rs 650 crore), in a deal that values India’s biggest online marketplace at $15 billion, according to two people aware of the transaction. Accel, the first venture investor in Flipkart, remains the second-largest shareholder in the ecommerce company behind New York-based hedge fund Tiger Global Management.
The venture firm’s latest transaction is its most significant involving Flipkart since selling the ecommerce company’s shares worth more than $80 million to undisclosed buyers last year. “The (Accel-QIA) deal closed in November,” one person said. “Given that valuation numbers are expected to stabilise, this is the right time to book returns.” Both the sources declined to be identified………………………………………..Full Article: Source

China state fund CIC eyes German investments

Posted on 21 December 2015 by VRS  |  Email |Print

Chinese sovereign wealth fund China Investment Corporation (CIC) [CIC.UL] is eyeing investments in Europe’s biggest economy, its chief investment officer has told a German business paper. “We are looking at a variety of objects,” Li Keping, who also serves as CIC’s vice chairman and president, told Handelsblatt in an interview, excerpts of which were published on Sunday.
He said the fund, which manages about $750 billion of China’s foreign exchange reserves, was particularly interested in firms involved in ‘Industrie 4.0′, a German government initiative backed by lobby groups in engineering, electronics and high-tech to address issues such as worker skills, data transfer standards and data security………………………………………..Full Article: Source

Temasek will wait before deciding on StanChart stake

Posted on 18 December 2015 by VRS  |  Email |Print

Standard Chartered got a boost from a report that a sovereign wealth fund was willing to give it more breathing room to successfully complete its turnaround, before deciding what to do with its stake in the lender. Reuters reported that, for the moment, Singapore´s SWF, Temasek, would hold off from deciding the fate of its approximately £2.6bn stake in the Asia-focused lender.
In a vote of confidence for the bank, in a research note sent on 16 December analysts at JP Morgan said that following the recent successful $5.2bn rights issue and after the Bank of England´s stress tests, in their view investors´ capital concerns had been adressed………………………………………..Full Article: Source

Narayana Hrudayalaya raises $27m from Singapore’s GIC, other anchor investors

Posted on 18 December 2015 by VRS  |  Email |Print

Healthcare firm Narayana Hrudayalaya Ltd on Wednesday raised nearly $27 million (Rs.184 crore) through anchor investors ahead of its initial public offering (IPO) on Thursday. The anchor book is that portion of the IPO which bankers allot to institutional investors on a discretionary basis.
Foreign institutional investors, including Fidelity, Government of Singapore’s GIC and Harvard Management Co., bought the firms share. Domestic institutions which subscribed to the anchor book include mutual funds from asset managers such as Birla Sunlife, SBI, ICICI Prudential, Reliance Capital and HDFC Mutual Fund………………………………………..Full Article: Source

Top investor Temasek willing to give StanChart time for turnaround

Posted on 17 December 2015 by VRS  |  Email |Print

Temasek is willing to give Standard Chartered time to work on its turnaround before deciding on the fate of its underperforming $4 billion (3 billion pounds) stake in the UK bank as part of a portfolio reshuffle, people familiar with the matter said.
Pressured by weak returns from low interest rates and a commodities rout, the Singapore state investor is taking a hard look at its $190 billion portfolio and may exit unprofitable assets, these people told Reuters. This approach was evident last week when Temasek sold at below book value a controlling stake in shipping firm Neptune Orient Lines (NOL) , its biggest disposal since 2009………………………………………..Full Article: Source

Middle East sovereign wealth funds set to reduce spending in overseas markets as oil prices plunge

Posted on 16 December 2015 by VRS  |  Email |Print

Middle East sovereign wealth funds are likely to cut down international spending next year as they tighten their belts to make up for falling oil prices. According to new research from property broker JLL, Middle Eastern SWFs, known for buying large trophy buildings in London and other key European cities, signed deals to buy US$6.5 billion worth of property in the first nine months of this year – up from about $6bn recorded in the whole of last year and $7bn in 2013.
JLL predicted that the volume of investment from the Middle East funds set up to invest money away from country’s surpluses made from oil, would decline significantly next year as Gulf countries cut back spending because of the weak crude prices. Instead, it said that funds would spend more of their limited budgets on the domestic property market………………………………………..Full Article: Source

Temasek buying 72% stake in Indian hospital chain

Posted on 16 December 2015 by VRS  |  Email |Print

Investment firm Temasek Holdings is set to acquire a 72 per cent stake in India’s Care Hospitals, media reports said yesterday. Care Hospitals, which has 16 hospitals serving nine cities across India, is the country’s fifth-largest private healthcare network.
Temasek is buying the stake from US private equity firm Advent International for 18 billion rupees (S$378 million), according to The Economic Times and Times of India. Temasek had teamed up with TPG Growth to form a consortium to pursue Care Hospitals, but TPG opted out of the race a few weeks ago owing to pricing and other unspecified matters………………………………………..Full Article: Source

Temasek funds for lending arm

Posted on 16 December 2015 by VRS  |  Email |Print

Fullerton India, the non-banking finance company (NBFC) controlled by Singapore-based Temasek Holdings Pte Ltd, is getting a fund infusion of Rs 150 crore from its parent.The funds received will be used for investment in the company’s housing finance subsidiary, Fullerton India Home Finance Company, and for future growth requirements of Fullerton India.
Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore. The company this year received an approval to set up the housing finance company, which largely focuses on affordable housing………………………………………..Full Article: Source

Singapore’s Temasek Holdings to buy Hyderabad-based CARE Hospitals

Posted on 15 December 2015 by VRS  |  Email |Print

Singapore’s Temasek Holdings is set to acquire a controlling 72 per cent stake in Hyderabad-based CARE Hospitals from the current private equity owner Advent International for Rs 1,800 crore, edging past competing offers from Abraaj, an emerging markets private equity group.
Temasek had earlier teamed up with TPG Growth to form a consortium but the latter opted out of the race a few weeks back after it was not comfortable with the final contours of the transaction, including the pricing, said three people directly involved in the deal. Once completed, this will arguably be the first time that Temasek acquires a controlling stake in an Indian company on its own. It had earlier this year joined hands with Advent to buy the consumer division of Crompton Greaves………………………………………..Full Article: Source

Malaysian utility Tenaga buys $243 mln stake in Turkish power firm

Posted on 15 December 2015 by VRS  |  Email |Print

Malaysia’s state electricity utility, Tenaga Nasional Bhd (TNB) has bought a 30 percent stake in Turkey’s GAMA Enerji A.S. for $243 million to expand overseas, it said on Dec. 14.
The announcement comes just days after Tenaga, whose top shareholder is sovereign wealth fund Khazanah, lost a bid to buy the power assets of state fund 1Malaysia Development Bhd (1MDB) in November. Shares in Tenaga shot up after that announcement on relief it had effectively avoided bailing out the state fund………………………………………..Full Article: Source

Oman sovereign wealth fund buys Hilton package for €400mn

Posted on 15 December 2015 by VRS  |  Email |Print

The sovereign wealth fund of Oman (Oman Investment Fund) is buying a portfolio of seven European Hilton hotels. Two of the properties are located in Germany: the Hilton in Dresden (An der Frauenkirche 5) and the Hilton in Düsseldorf (Georg-Glock-Straße 20).
The remaining hotels are in Paris (Airport Charles de Gaulle), Zurich, Strasbourg, Luxemburg, and Barcelona. Market circles estimate the purchase price at around €400mn. The seller is a joint venture of the US hedge fund Baupost and the Westmont Hospitality Group. Baupost was advised by Eastdil Secured………………………………………..Full Article: Source

Can aluminium boost non-oil revenues in the GCC?

Posted on 14 December 2015 by VRS  |  Email |Print

Firstly, Bahrain’s sovereign wealth fund, Mumtalakat, announced a fresh set of funding plans for the metal industry during the month. ver two consecutive days, reports stated Mumtalakat would invest in Spanish materials producer, Aleastur, as well as form a joint venture with India’s Synergies Castings.
In a Reuters report dated 17 November, Joseph Kirikian, head of industries and services at Mumtalakat, said the Aleastur investment comes in light of the Spanish company’s expansion plans. “We are taking a minority stake and helping the company to expand into the Gulf,” Kirikian said………………………………………..Full Article: Source

China Investment to jointly acquire majority interest in Turkish port

Posted on 14 December 2015 by VRS  |  Email |Print

A Chinese consortium comprising sovereign wealth fund China Investment Corp., or CIC, will take a 65% stake in Kumport, Turkey’s third-largest container port. CIC Capital along with China Merchants Holdings (International) and Cosco Pacific have established a special-purpose company to make the acquisition.
Cosco Pacific parent China Ocean Shipping (Group) holds a stake in the port of Piraeus, in nearby Greece………………………………………..Full Article: Source

Temasek to take part in Chinese bank’s stake sale

Posted on 10 December 2015 by VRS  |  Email |Print

Singapore investment firm Temasek, the biggest foreign investor in Chinese banks, will further raise its profile in the country’s financial sector by taking part in Postal Savings Bank of China’s (PSBC) private fund-raising exercise.
PSBC will sell 16.92 per cent of its stake to 10 global strategic partners, including financial institutions such as JP Morgan Chase, UBS Group, Temasek Holdings and Alibaba-owned Ant Financial. The stake sale, raising US$7.06 billion (S$9.93 billion), comes ahead of a planned initial public offering (IPO) by the Chinese lender………………………………………..Full Article: Source

Sovereign funds of West Asia get aggressive on India

Posted on 10 December 2015 by VRS  |  Email |Print

If the plunge in crude oil prices was expected to dampen West Asia-based sovereign funds’ ability to make large investments, it is not reflected in India yet. It has enthused their interest as they shift their focus from European markets to emerging ones, where returns are better.
Last week, Kuwait Investment Authority invested $300 million in debt-laden GMR Infrastructure by subscribing to foreign currency convertible bonds. Abu Dhabi Investment Council made two large investments in the year - $300 million in Altico Capital, a non-banking financial company which lends to realty players, and $265 million in ReNew Power………………………………………..Full Article: Source

GIC, Jardine Group keen on MRCB

Posted on 09 December 2015 by VRS  |  Email |Print

GIC Pvt Ltd and the Jardine Matheson Group are both said to be showing keen interest in Malaysian Resources Corp Bhd (MRCB), and could each be taking up a stake in the company via its recent proposed private placement exercise, according to a source close to the matter.
“There has of course been interest shown in MRCB’s placement shares by local funds such as Kumpulan Wang Persaraan (Diperbadankan) and local banks, but a game changer is these two international firms are said to be showing a keen interest in taking up a piece of MRCB in their ongoing discussions with the company,” the source told The Edge Financial Daily………………………………………..Full Article: Source

Oman wealth fund pledges $100m to Irish firm Kenmare

Posted on 08 December 2015 by VRS  |  Email |Print

An Omani sovereign wealth fund has agreed to invest $100m (€92m) in embattled Irish miner Kenmare Resources - as long as existing major shareholders come up with at least another $75m. The deal is intended to slash Kenmare’s $329m (€303m) debt and secure its future.
A subsidiary of Oman’s State General Reserve Fund (SGRF) will make the investment in the Irish company. The $100m will be used to pay Kenmare’s lenders - development finance institutions including the European Investment Bank, the African Development Bank and the Emerging Africa Investment Fund………………………………………..Full Article: Source

Temasek to sell entire NOL stake for S$2.3b

Posted on 08 December 2015 by VRS  |  Email |Print

Temasek Holdings has agreed to sell its entire 67 per cent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper, which today (Dec 7) announced a S$3.4 billion offer to buy the iconic Singapore shipping firm to expand its presence on trans-Pacific routes.
In its voluntary general offer, CMA CGM will pay S$1.30 a share in cash for the 2.6 billion shares in NOL, 6 per cent above the last closing price on the Singapore Exchange, and a 33 per cent premium to the three-month volume-weighted average price to July 16. The offer comes amid a prolonged downturn in the global shipping market caused by overcapacity, slowing global growth and weak commodity prices, with NOL having posted a net loss of US$96 million for the July-to-September period, its worst in six quarters………………………………………..Full Article: Source

Temasek likely to take discount on NOL for greater economic gain

Posted on 08 December 2015 by VRS  |  Email |Print

Temasek Holdings, the controlling shareholder of Neptune Orient Lines (NOL), is likely to have agreed to sell to France’s CMA CGM at a slight discount in hopes that the deal would bring greater economic benefit to Singapore, a broker report said on Tuesday.
The shipping firm announced a S$3.4 billion takeover offer from CMA CGM that implied a valuation of 0.96 times price-to-book. NOL was trading at about 0.7 times of its book value before July 16, the day news broke that Temasek planned to sell its stake to the French suitor………………………………………..Full Article: Source

French shipper CMA CGM, Singapore rival team up to weather business storm

Posted on 08 December 2015 by VRS  |  Email |Print

France’s CMA CGM, the world’s third-largest maritime shipping company, announced it will launch a tender offer to buy all outstanding shares of Singaporean shipping company Neptune Orient Lines in a deal that values the company at 3.4 billion Singapore dollars ($2.43 billion).
The transaction is a milestone for Temasek Holdings, which has held a majority stake in NOL since its privatization in 1981. NOL, established as a state-owned shipping line three years after Singapore’s independence, played a pivotal role in Singapore’s economic development, helping transform the island nation into a key shipping container port and a center of global trade………………………………………..Full Article: Source

Sovereign wealth fund investment in healthcare is on the rise, especially in digital health

Posted on 07 December 2015 by VRS  |  Email |Print

In the past couple of years there has been a rise in sovereign wealth funds’ investments in healthcare. These cover a wide range of areas from hospital chains to pharmaceutical companies, but it also includes direct investments in digital health startups.
Permanent Fund is one of the founding investors in Denali Therapeutics, a biotech business targeting neurodegenerative disorders. The motivation behind these investments is a mixture of bullishness about healthcare and the practical reality that companies that can solve healthcare pain points such as improving access to healthcare professionals for underserved populations to treating chronic conditions can improve the care of citizens in the countries these funds serve………………………………………..Full Article: Source

Russia’s Direct Fund Interested in Cuba Deals as Economy Expands

Posted on 07 December 2015 by VRS  |  Email |Print

Russian Direct Investment Fund, which partners with global investors on equity deals at home, said it’s interested in investing in countries where it sees strong potential for growth such as Egypt and Cuba.
“Russia has deep experience with Cuba,” Kirill Dmitriev, the fund’s chief executive officer, said in an interview in Abu Dhabi. “So investment in ports and airports is quite interesting given the potential growth of the Cuban economy.” Egypt, the Arab world’s most populous country, is becoming more stable and RDIF sees potential for investments in the country’s aging infrastructure and new industrial parks, he said………………………………………..Full Article: Source

French sovereign fund acquires 0.8% stake in KHC for $150 mln

Posted on 07 December 2015 by VRS  |  Email |Print

France’s sovereign wealth fund Caisse des Dépôts International Capital and other major French firms have acquired on Thursday 29.9 million shares, or a 0.8 percent stake in Kingdom Holding Co. (KHC) for a total of $150 million (SAR 563 million).
The deal was closed at SAR 18.80 per share, the Saudi investment firm said in a statement. Prince Alwaleed Bin Talal, Chairman of KHC, said he will continue to hold a 95 percent stake in the company………………………………………..Full Article: Source

Future fund to consider buying a slice of the Port of Melbourne

Posted on 07 December 2015 by VRS  |  Email |Print

The Commonwealth’s $117 billion sovereign wealth fund will consider buying a slice of the Port of Melbourne, potentially leaving at least some of the asset in public hands. The Future Fund - set up by the Howard government to cover the unfunded superannuation liabilities of public servants - is believed to be weighing up joining a consortium to bid on the long-term port lease, provided the deal is a good one.
The fund’s annual report says Australian infrastructure assets are a safe long-term bet. Having already invested heavily in Melbourne Airport, the fund is now eyeing off other asset sales, including the port………………………………………..Full Article: Source

Temasek reduces stake in Thermo Fisher, Gilead Science, increases holdings in EMC

Posted on 07 December 2015 by VRS  |  Email |Print

Singapore state fund Temasek Holdings has decreased its stake in New York-listed Thermo Fisher Scientific Inc by 45 per cent, based on a Q3 2015 regulatory filing with the SEC. Thermo Fisher Scientific is a provider of analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It’s stock has risen 8.44 per cent since April 28, 2015 and is outperforming the S&P 500 by 10.06 per cent.
Temasek sold 2.37 million shares in the firm as the corporations stock declined 6.53 per cent with the market. Temasek’s original holding in the firm was 2.90 million shares of the industrial machinery and components company at the end of Q3 2015, with its stake valued at $354.53 million. This is a decrease from 5.27 million shares it held at the end of Q2 2015………………………………………..Full Article: Source

India’s GMR to raise $300 mln from Kuwait sovereign fund

Posted on 07 December 2015 by VRS  |  Email |Print

Kuwait Investment Authority has signed a definitive agreement to invest $300 million (Rs.2,000 crore) in GMR Infrastructure Limited, it was announced here on Friday. Kuwait Investment Authority is one of the largest and oldest sovereign wealth funds of the world. 1 each of the Company (the “Company”) in accordance with the terms of the Bonds.
Shares of GMR Infrastructure saw a steep fall after the announcement. The bonds will be convertible into equity shares having face value of Re. Such features are generally seen in perpetual-type issuances a press release from GMR said………………………………………..Full Article: Source

China’s sovereign wealth fund to boost stake in Germany

Posted on 03 December 2015 by VRS  |  Email |Print

China’s sovereign wealth fund is eyeing greater investment in Germany to strengthen its foothold in the manufacturing powerhouse, the fund’s deputy chief has said. Li Keping , vice-chairman of China Investment Corporation, said the more than US$7 billion it had put into Germany was a key part of its global holdings portfolio.
Much of the money flowed through the open market in the form of equities and bonds, Li told a business forum at the German embassy in Beijing on Wednesday. CIC expected to keep those levels largely stable but saw significant room to expand investments in cooperation with private equity funds in Germany, in addition to increasing direct investment………………………………………..Full Article: Source

Future Fund to invest up to $200 million in India next year: Steve Byrom

Posted on 03 December 2015 by VRS  |  Email |Print

Future Fund, Australia’s sovereign wealth fund will invest up to $200 million in India next year, Steve Byrom, its head of private equity fund told ET. Praising the new government for its initiatives, Byrom said that today, India is considered low risk over China and hence the fund will continue to maintain its pace of investments in India.
Future Fund, besides investing in private equity funds also does co-investments on a deal to deal basis. This, says Byrom, eliminates the need for an India dedicated office as of now. “We let the partner GPs source the deals for us. We look at co-investment opportunities on a deal to deal basis,” Byrom told ET on the sidelines of a private equity event here in Mumbai………………………………………..Full Article: Source

Future Fund leads super funds’ push into global markets

Posted on 03 December 2015 by VRS  |  Email |Print

Top Australian superannuation funds, led by sovereign wealth vehicle the Future Fund, are again pushing into international markets with strategies drawing them into new countries and asset classes not available locally. The local funds are driving into fresh areas with debt house Quadrant Real Estate Advisors scooping up $500 million for investment in Britain and Ireland and the Future Fund backing a venture investing in European real estate firms.
The $117 billion Future Fund has invested in ICAMAP Investors, a private equity fund that has €500m ($725m) of committed capital to invest in small and medium-sized real estate companies across Europe. The business was set up by a trio of real estate professionals including former Unibail Rodamco chief executive Guillaume Poitrinal………………………………………..Full Article: Source

Over Jan-Nov Azerbaijan’s Oil Fund received $6.56 bn from ACG and Shah Deniz projects

Posted on 03 December 2015 by VRS  |  Email |Print

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profit oil from oilfield block Azeri-Chirag-Gunashli (ACG) and gas from gas condensate field Shah Deniz totaled $6.56 bn for Jan-Nov 2015. The Fund reports that, $6.258 bn of this amount accounted for income from the sale of profit oil from ACG and $302 million from the sale of profit gas from Shah Deniz.
“In general, SOFAZ received about $116.409 bn from sale of profit oil of Azerbaijan from ACG from 2001 to 1 December 2015 and $2.422 bn from sale of gas from Shah Deniz field since 2007,” the Fund informed………………………………………..Full Article: Source

CVC, GIC Buy Carlyle Stake in U.K. Roadside Assistance Firm RAC

Posted on 03 December 2015 by VRS  |  Email |Print

CVC Capital Partners and Singapore’s sovereign wealth fund GIC Pte agreed to buy Carlyle Group LP’s stake in British roadside assistance company RAC.
CVC and GIC plan to invest in RAC’s technology, data and telematics platform and see a “significant long-term growth opportunity,” according to an e-mailed statement today. The companies didn’t disclose the value of the transaction………………………………………..Full Article: Source

CVC buys out Carlyle to take the wheel of RAC

Posted on 02 December 2015 by VRS  |  Email |Print

The RAC has a new private equity owner after CVC, the European buyout group, bought out Carlyle’s stake in the roadside recovery company. The investment will be CVC’s first using a separate fund it has raised for holding longer-term stakes in companies — a sign of the future direction of the buyout industry.
GIC, the Singaporean sovereign wealth fund that bought almost half of RAC last year from Carlyle, will retain its stake under the transaction. While Carlyle had been looking to list the RAC before GIC acquired its stake last year, “the opportunity here for us was to monetise our investment, and not to float and wait to realise liquidity over a longer period,” Andrew Burgess, a managing partner at Carlyle, said………………………………………..Full Article: Source

Temasek Holdings Private Ltd Decreased Stake in Thermo Fisher Scientific

Posted on 02 December 2015 by VRS  |  Email |Print

Temasek Holdings Private Ltd decreased its stake in Thermo Fisher Scientific Inc by 45% based on its latest Q3 2015 regulatory filing with the SEC. Temasek Holdings Private Ltd sold 2.37M shares as the company’s stock declined 6.53% with the market.
The institutional investor held 2.90 million shares of the industrial machinery and components company at the end of Q3, valued at $354.53M, down from 5.27 million at the end of the previous reported quarter. Temasek Holdings Private Ltd who had been investing in Thermo Fisher Scientific Inc since many months, could be less bullish the $55.95B market cap company. (Press Release)

GIC to purchase additional 12% stake in Brazilian hospital chain for $633m

Posted on 01 December 2015 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has entered an agreement to acquire Grupo BTG Pactual SA’s 12 per cent stake in Rede D’Or São Luiz SA, Brazil’s largest hospital chain. This increases its equity stake in the hospital chain to 28 per cent.
The consideration for this acquisition by GIC Pte Ltd amounts to almost 2.5 billion reais ($633 million), according to Reuters, which cited a source directly involved in the deal, who also claimed that an official announcement would be taking place………………………………………..Full Article: Source

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