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Australian sovereign fund joins Investa scrum

Posted on 23 April 2015 by VRS  |  Email |Print

The more than $109 billion Future Fund has waded into the contest for the Investa Property Group platform. It is highly likely Australia’s sovereign fund will partner with the ASX-listed DEXUS Property Group, sources said. However, the large sovereign funds and institutions have been advised not to enter exclusivity with managers such as DEXUS until the second round.
DEXUS has enlisted more than one capital partner. Sovereign wealth fund Abu Dhabi Investment Authority’s (ADIA) is also part of the consortium, it is understood. A shortlist for the $9 billion Investa Property Group will be drawn up by the end of next week with Morgan Stanley Real Estate Investing – which is exiting its Investa investment – keen to keep up the sale’s momentum……………………………………..Full Article: Source

Temasek to buy Crompton’s consumer electric business

Posted on 23 April 2015 by VRS  |  Email |Print

Advent and Temasek are close to announcing the deal to buy Crompton Consumer Electricals business for a total enterprise value of Rs 6,600 cr, sources with direct knowledge share. In the first leg of the transaction, Advent will lead the acquisition to buy 34.37 per cent stake from the Crompton Greaves promoters.
Temasek and Advent together will make an open offer to buy 26 per cent stake in the demerged consumer business. Deal is expected to value per share of Crompton Consumer Electricals business at Rs 94/share. Eventually, Advent may hold 40 per cent and Temasek over 20 per cent in the company, sources said……………………………………..Full Article: Source

Norway SWF is primed to become Africa’s biggest investor

Posted on 22 April 2015 by VRS  |  Email |Print

World’s biggest Sovereign Wealth Fund (SWF), Norway’s Government Pension Fund Global (GPFG), last year added five African states to the number of countries it approves as marketplaces for trading in equities. It is keen to take advantage of the pace of economic growth across Africa to garner profitable returns on equity investments.
The Norwegian fund’s investment in Africa has now been extended to Kenya, Tunisia, Ghana, Mauritius and Nigeria. Its investments in Nigeria, as at the end of 2014 was 497 million kroner ($63 million), which included stocks in companies listed on the Nigerian Stock Exchange (NSE). The fund’s investment is highest in Zenith Bank, Nigeria’s largest bank, at 23.5 percent. This is followed by another lender, Guaranty Trust Bank at 21 percent. Access Bank has so far received the least investment from the wealth fund (3.2 percent)…………………………………..Full Article: Source

Sulekha.com raises Rs 175 crore from Singapore’s sovereign fund GIC

Posted on 22 April 2015 by VRS  |  Email |Print

Local listings services provider Sulekha.com has raised Rs 175 crore funding from Singapore’s sovereign wealth fund GIC and venture capital Norwest Venture Partners (NVP). The company will use the series C funding to expand its presence in tier II cities to mainly focus on technology and branding.
“We have architected a lucrative business model because of the immediacy, specificity and location-oriented nature of the user local service needs. This investment is an endorsement of the potential of the local services opportunity in India,” Sulekha.com founder and CEO Satya Prabhakar told PTI today. The company has previously raised about Rs 100 crore through two rounds of funding from Indigo Monsoon, Mitsui and NVP…………………………………..Full Article: Source

China expands stake in Russian potash miner Uralkali

Posted on 22 April 2015 by VRS  |  Email |Print

China is expanding its influence over the potash industry with Industrial Commercial Bank of China (ICBC) and China Construction Bank acting as lenders of a $530 million loan deal Russian potash miner Uralkali, the world’s biggest producer of the commodity, signed Monday.
This is not the first time Chinese institutions approach Uralkali. In 2013, China’s sovereign-wealth fund (CIC) grabbed a 12.5% stake in Russian potash producer Uralkali, the world’s biggest producer of the commodity, by exercising an option on a convertible bond it acquired earlier. Since last year CIC has been shifting its focus to invest in agriculture and global food supplies, which reflects the priorities of the country’s current leadership…………………………………..Full Article: Source

Temasek Holdings to invest Rs. 945 crores in Glenmark Pharma

Posted on 22 April 2015 by VRS  |  Email |Print

Glenmark Pharmaceuticals Ltd. today informed the stock exchanges that Temasek Holdings (Private) Limited, the investment arm of the Singapore government, is considering investing in the Company through its wholly owned subsidiary Aranda Investments (Mauritius) Pte Ltd, (Aranda) in equity shared to be issued by the Company on a preferential basis.
At the board meeting held today, Glenmark decided to raise funds by way of issue of upto 108,00,000 equity shares of Re. 1/- each on preferential basis for cash to Aranda, a foreign Portfolio investor at a price of Rs.875 per equity share aggregating to Rs. 945 Crores , subject to the requisite approvals of the shareholders and any regulatory authorities, as may be required…………………………………..Full Article: Source

Abu Dhabi pours GBP 150m into GIB’s offshore wind fund

Posted on 22 April 2015 by VRS  |  Email |Print

The Abu Dhabi Investment Authority (ADIA) is investing some GBP 150 million (USD 223/EUR 208.9m) in the Green Investment Bank’s (GIB) UK offshore wind fund, the Daily Business said on Tuesday. At the very start of April, GIB announced it had raised GBP 463 million in capital for its offshore wind fund from UK-based pension funds and a major sovereign wealth fund, without disclosing their names.
The Daily Business today cited an unnamed source as saying that ADIA is the said sovereign wealth fund. The informed person has also mentioned that ADIA is participating in the offshore wind fund because it will provide a good yield and not due to its green credentials…………………………………..Full Article: Source

Norway Angers Investors in Pipeline Network

Posted on 21 April 2015 by VRS  |  Email |Print

One risk the Canada Pension Plan Investment Board didn’t see coming was that the government of Norway, which prides itself on being one of the world’s safest corners for investors, would slash the rates the pipeline can charge for carrying natural gas.
The fund, along with another Canadian pension plan and some of the world’s largest institutional investors, is now suing the Norwegian government, whose action will cut the amount of revenue they are paid. The investors say they may only get half of the return they had expected, leading to multibillion-dollar losses. The plaintiffs haven’t said what damages they are seeking…………………………………..Full Article: Source

KIC breaks rules in bid to invest in LA Dodgers: lawmaker

Posted on 21 April 2015 by VRS  |  Email |Print

South Korea’s sovereign wealth fund has violated its own rules in its move to buy into the Los Angeles Dodgers, a lawmaker said Tuesday. The Korea Investment Corporation (KIC), which manages assets entrusted by South Korea’s central bank, has reportedly been in talks to buy a 19 percent stake in the baseball club from U.S.-based investment firm Guggenheim Partners, a deal estimated at 400 billion won (US$369 million).
Rep. Park Won-suk said KIC chief Ahn Hong-chul’s meeting with executives of Guggenheim Partners, an investment firm that owns the team, on Jan. 12 violated internal guidelines limiting the chairman’s role. The KIC rules stipulate that the chairman can only take part in the investment process at the very last moment when a committee is formed to make a final decision…………………………………..Full Article: Source

Oman Fund picks up stake in Italian auto firm

Posted on 21 April 2015 by VRS  |  Email |Print

The state-owned Oman Investment Fund (OIF) has acquired a 40 per cent stake in prominent Italian auto parts maker Sigit SpA in what experts say is a precursor to the potential establishment of an auto manufacturing industry in the Sultanate. Sigit has built a reputation in the automotive industry as a supplier of customised thermoplastic and rubber components to well-known car makers and original equipment manufacturers around the world. Customers include General Motors, Volkswagen Group, Fiat Chrysler Automobiles and Renault.
Established in 1966, the privately owned firm currently operates a network of nine plants, five of which are based in Italy, with one each in Morocco, Serbia, Poland and Russia. Sales topped 72.5 million euros in 2014. As a shareholder in this reputed Italian auto parts supplier, Oman Investment Fund — a sovereign wealth fund — has effectively positioned itself as a prime mover in the development of an auto industry in the Sultanate, say experts…………………………………..Full Article: Source

Prologis Agrees to Acquire KTR Portfolio for $5.9 Billion

Posted on 20 April 2015 by VRS  |  Email |Print

Prologis Inc., the world’s largest owner of industrial real estate, agreed to acquire KTR Capital Partners for $5.9 billion to expand its presence in key U.S. markets. The purchase will be made by Prologis U.S. Logistics Venture, a joint venture with Norges Bank Investment Management, the San Francisco-based company said on Sunday in a statement.
Norges Bank Investment Management, Norway’s sovereign-wealth fund, made its first industrial property purchase in 2012 with the acquisition of a 50 percent stake in a European property portfolio from Prologis. The sovereign wealth fund became among the top foreign buyers of real estate in the U.S. last year, buying stakes in properties including three towers from Boston Properties Inc……………………………………..Full Article: Source

ADIA sells 6.6% Deutsche Annington stake after stock climbs

Posted on 20 April 2015 by VRS  |  Email |Print

Abu Dhabi Investment Authority (ADIA) sold its 6.6 per cent stake in Deutsche Annington Immobilien SE, according to an emailed statement. ADIA, the world’s second-biggest sovereign wealth fund, sold 23.5 million shares there were offered at €30.80 (Dh121.01, $32.91) to market price each, according to a term sheet obtained by Bloomberg.
Deutsche Annington is Germany’s biggest residential landlord, with 350,000 apartments in cities including Berlin and Dortmund. Bank of America Corp was the sole bookrunner on the share sale, the terms showed. Sovereign wealth funds are among the biggest investors in Germany’s housing sector. They have sought to take advantage of rising home prices and rents……………………………………..Full Article: Source

Temasek Allocates $150 Million in Indian Pharma Company

Posted on 20 April 2015 by VRS  |  Email |Print

Temasek Holdings is investing 9.4 billion crore (US$ 151.4 million) in Mumbai-based Glenmark Pharmaceuticals Ltd. through its sovereign wealth enterprise Aranda Investments (Mauritius) Pte Ltd. Temasek is subscribing up to 10.8 million shares on a preferential basis for cash in the Indian drug manufacturer. Among sovereign wealth funds, Temasek is known for backing earlier stage biotech companies and making investments in India.
Other major institutional investor shareholders are HSBC Global Asset Management, Oppenheimer, Stichting Pensioenfonds ABP, Life Insurance Corporation of India, General Insurance Corporation of India and T. Rowe Price. Glenmark Pharmaceuticals has more than 20 subsidiaries and over 11,000 employees. In addition, the company has 14 manufacturing facilities in four countries……………………………………..Full Article: Source

Norway’s Sovereign Fund retains 2.6 % investment in Italy

Posted on 16 April 2015 by VRS  |  Email |Print

Norway’s Sovereign Wealth Fund manager and Central Bank governor, Oystein Olsen, said he intended to keep investments in Italy unchanged. “At the moment we’re not planning to increase our investments in Europe, which will remain at 40 percent of our global investments”, Mr Olsen told reporters in Rome.
He spoke after he was asked if he intended to increase investments in Italy. He was in Italy to attend the workshop promoted by the FeBAF, the Italian Banking, Insurance and Finance Federation, at the headquarters of ABI, the Italian Banking Association………………………………………..Full Article: Source

Temasek is single-largest foreign investor in Chinese banks: report

Posted on 16 April 2015 by VRS  |  Email |Print

Singapore’s Temasek Holdings is the single-largest foreign investor in Chinese banks, data from SNL Financial showed on Tuesday. And this comes as Chinese banks have outdone their peers in the region, according to indices from SNL. Its SNL China Bank index gained 34.71 per cent in the one year through March 31, far outperforming the SNL Asia-Pacific Bank index, which rose 7.56 per cent. These regional banks would include those from Japan and Australia.
The data on foreign investments in Chinese banks includes all classes of publicly traded common shares, but excludes investments reported before Jan 1, 2014. The market value of each investor’s stake in a company was calculated based on the March 31, 2015 closing price………………………………………..Full Article: Source

Singapore’s GIC to acquire Shriram SEZ

Posted on 16 April 2015 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC is in advanced talks to acquire Shriram Group’s nearly 2 million sqft IT SEZ in Chennai for Rs 860 crore ($136 million), marking its third big-ticket commercial office purchase in the last five months in India.
With this deal, GIC would have cumulatively invested about Rs 2,000 crore in buying office spaces in Mumbai, Bengaluru and Chennai since December last year. These investments exclude GIC’s commitments in the country’s residential real estate market. Big global peers Blackstone and Brookfield Asset Management bought commercial assets collectively worth over $ 2 billion in the country last year………………………………………..Full Article: Source

Singapore’s Temasek buys debt finance company SVB India

Posted on 15 April 2015 by VRS  |  Email |Print

The Singapore government-controlled Temasek Holdings has acquired debt financing company SVB India Finance for about Rs 300 crore. This marks Temasek’s entry into the venture-debt lending market. After the acquisition, SVB India Finance has been renamed InnoVen Capital India.
Till date, SVB India Finance has provided more than 75 loans to over 50 companies in India, totalling $110 million of venture debt. They include Prizm Payments, Snapdeal, Myntra, Freecharge, Manthan Software, Firstcry, Faasos, Practo, and Capillary Technologies………………………………………..Full Article: Source

Angola’s sovereign fund allocates further $1.4 billion to Africa projects

Posted on 14 April 2015 by VRS  |  Email |Print

Angola’s sovereign wealth fund said on Monday it was allocating $1.4 billion to five new vehicles that will invest in sectors such as mining, timber, agriculture and healthcare within the country and elsewhere in Africa.
The Fundo Soberano de Angola (FSDEA) said vehicles focused on mining, timber and agriculture will each have $250 million to invest, while a healthcare fund will have $400 million. A fifth Mezzanine Investment fund is being set up to provide financing to entrepreneurs who do not have access to traditional debt funding, with a further $250 million, the FSDEA said………………………………………..Full Article: Source

Abu Dhabi sovereign wealth fund said to invest in Spotify

Posted on 14 April 2015 by VRS  |  Email |Print

An Abu Dhabi-based fund has reportedly invested in Spotify during the seventh funding round held by the music-streaming service. Spotify is close to completing its latest funding round, raising $400 million and valuing the company at $8.4 billion, sources told the Wall Street Journal.
Goldman Sachs Group and an unnamed Abu Dhabi sovereign wealth fund have agreed to invest in the round, after Spotify held talks with a range of asset managers and venture capital firms around the globe, the report said………………………………………..Full Article: Source

Temasek is single-largest foreign investor in Chinese banks: report

Posted on 14 April 2015 by VRS  |  Email |Print

Singapore’s Temasek Holdings is the single-largest foreign investor in Chinese banks, data from SNL Financial on Tuesday showed. The data includes all classes of publicly traded common shares, but excludes investments reported before Jan 1, 2014. The market value of each investor’s stake in a company was calculated based on the March 31 closing price.
Temasek emerged top with a combined stake valued at US$18 billion, driven by holdings in three Chinese banks. It has a 6 per cent stake in China Construction Bank Corp, worth US$12 billion as at March 31. It is also invested in Industrial & Commercial Bank of China, holding US$5.76 billion of shares………………………………………..Full Article: Source

Spotify to be worth $8.4bn after fundraising

Posted on 13 April 2015 by VRS  |  Email |Print

Goldman Sachs and Abu Dhabi’s sovereign wealth fund have agreed to invest in Spotify, according to reports. Spotify is nearing a deal to raise $400m (£273m), valuing the music streaming service provider at $8.4bn, according to reports.
The terms of the funding, Spotify’s seventh, have been set and the deal is expected to close in the coming weeks. Goldman Sachs and Abu Dhabi’s sovereign wealth fund have agreed to invest in the round and Spotify has also held talks with asset managers and venture-capital firms, the Wall Street Journal reported. Spotify and Goldman Sachs could not immediately be reached for comment………………………………………..Full Article: Source

Why Sovereign Wealth Funds Should Not Invest at Home

Posted on 10 April 2015 by VRS  |  Email |Print

A SWF is a type of extra-budgetary fund that operates outside the annual government budget process. SWFs have traditionally been created for a macroeconomic objective (e.g., fiscal stabilization), or to save for future generations. All invest at least partly in foreign assets.
While the idea of using a SWF to invest in domestic assets may resonate with government officials and politicians, there are strong arguments against using SWFs for this purpose. A fund with multiple objectives can undermine public financial management systems, and lead to poor investment decisions, patronage and even corruption………………………………………..Full Article: Source

Temasek among investors in Dianping’s $850m funding round

Posted on 10 April 2015 by VRS  |  Email |Print

Singapore state investment fund Temasek Holdings Pte Ltd is among several investor that participated Chinese restaurant-review and group-buying services app Dianping Holdings Ltd’s latest $800 million funding round, a report said. The Wall Street Journal in a recent report said Shanghai-based startup Dianping had raised $850 million from a group of investors including smartphone maker Xiaomi Corp.
The other investors participating in the fundraising round include Internet company Tencent Holdings Ltd, Temasek Holdings, private-equity firm FountainVest Partners and Chinese conglomerates Wanda Group and Fosun Group, the report added quoting an unnamed executive familiar with the development………………………………………..Full Article: Source

Investment Corporation of Dubai takes stake in luxury US and South African hotels

Posted on 10 April 2015 by VRS  |  Email |Print

Investment Corporation of Dubai, the emirate’s main investment vehicle, has strengthened its presence in the global hospitality business with the acquisition of stakes in three luxury hotels. ICD has purchased the W Hotel in Washington DC, a majority holding in the Mandarin Oriental in New York, and a minority in the One & Only resort in Cape Town, South Africa.
The purchase price was not announced. “Building on our strong domestic growth in the hospitality and tourism sectors, this strategic move reinforces ICD as a serious contender in the global luxury hospitality space,” said Mohammed Al Shaibani, the executive director and chief executive of ICD………………………………………..Full Article: Source

Abu Dhabi and Kuwait in consortium mix for NSW power assets bid

Posted on 09 April 2015 by VRS  |  Email |Print

The Abu Dhabi Investment Authority is understood to have joined a group, including Hastings Funds Management and Spark Infrastructure Group, that plans to bid for NSW electricity assets. Canada’s Caisse de Depot et Placement du Quebec and an arm of the Kuwait Investment Authority were also part of the consortium, people with knowledge of the matter said.
IFM Investors is believed to be planning a bid with QIC for the NSW assets, while Macquarie Group’s Macquarie Infrastructure and Real Assets arm is also understood to be weighing an offer. Australia’s most populous state plans to raise about $20 billion leasing almost half of its electricity network to fund new railways, roads, schools and hospitals………………………………………..Full Article: Source

Advent teams up with Temasek to scoop up Crompton’s consumer business

Posted on 09 April 2015 by VRS  |  Email |Print

A group of investors led by bulge-bracket private equity firm Advent International along with Temasek, the investment company of the government of Singapore, are set to buy the consumer business of Crompton Greaves, said multiple sources who are directly involved in the deal.
They will be acquiring the business from billionaire Gautam Thapar and his family, the promoters of the diversified Avantha Group, ending months of negotiations that saw several large global investors and PE funds as well as domestic competitors jostle for the asset. ET reported March 5 that Advent had emerged as frontrunner. A formal announcement is expected as early as next week………………………………………..Full Article: Source

KIC’s possible investment in LA Dodgers called into question

Posted on 07 April 2015 by VRS  |  Email |Print

A possible deal by South Korea’s sovereign wealth fund to buy some 19 percent of the Los Angeles Dodgers baseball team could entail much risk and end in failure, market observers said Monday. The Korea Investment Corporation (KIC), which manages assets entrusted by South Korea’s central bank, has been in talks to buy the stake from U.S.-based investment firm Guggenheim Partners, according to sources familiar with the matter.
The KIC will make a final decision on the Dodgers investment in the near future as it recently completed due diligence, said the sources. According to the sources, the deal includes sharing profits from admissions and broadcasting rights with Guggenheim Partners and a guarantee for an annual return rate of more than 3 percent, they noted………………………………………..Full Article: Source

Canada Pension may buy Chennai IT park for Rs 1,500 crore: Sources

Posted on 07 April 2015 by VRS  |  Email |Print

Canada Pension Plan Investment Board is close to buying an IT park in Chennai jointly owned by Shapoorji Pallonji and New Vernon Capital for Rs 1,500 crore, two people familiar with the matter said. If it goes through, this will be the biggest real estate private equity transaction so far this year. “Both parties are in final stage of discussions and the deal is expected to close soon.
Singapore’s sovereign wealth fund GIC, along with Bengaluru-based builder Brigade Enterprises, announced that it will jointly invest Rs 1,500 crore in housing projects across southern India………………………………………..Full Article: Source

NSIA to invest N7.8bn in infrastructure

Posted on 07 April 2015 by VRS  |  Email |Print

The Nigerian Sovereign Investment Authority plans a $40m (N7.88bn) investment to improve the infrastructural facilities in critical sectors such as education, healthcare and environment. This was confirmed to our correspondent by the Managing Director, NSIA, Mr. Uche Orji, on Friday.
The NSIA is the agency of government currently managing the $1bn Sovereign Wealth Fund which was set up in 2012 by the Federal Government. It is made up of three funds – the Future Generation Fund, the Nigeria Infrastructure Fund and the Stabilisation Fund. Orji said “We all know healthcare is a very important focus for Nigeria; and some of the Memorandums of Understanding we have signed with hospitals, we will activate a few of them in 2015………………………………………..Full Article: Source

Kuwait eyes Italy and invests in strategic fund

Posted on 07 April 2015 by VRS  |  Email |Print

A billion euros in trade annually, close political relations and a shared commitment against Islamic State (ISIS) terrorism, with Italian military planes in Kuwaiti territory, form the basis of Italy’s relations with Kuwait. This year’s 500-million-euro investment by the Kuwait Investments Authority (KIA) in Italy’s Strategic Fund (FDI) is especially noteworthy as well, said Italy’s ambassador to Kuwait Fabrizio Nicoletti in meeting with journalists on Friday.
KIA is a sovereign wealth fund that has 400 billion euros in its coffers, and its entrance as ‘partner’ into the FSI, the Italian institution for foreign investment, marks a turning point in the partnership between the two nations, he said, adding that the agreement had set an example for many other countries………………………………………..Full Article: Source

GIC among investors bidding for German group Tank & Rast in $4.11b deal

Posted on 01 April 2015 by VRS  |  Email |Print

German motorway service station group Taoutnk & Rast (Tank & Rast), which has been up for grabs for three months now, has attracted several investor groups including Singapore’s GIC to bid in a deal worth up to 3.5 billion euros ($4.11 billion).
Reuters found out through sources that the investors were preparing to bid for the group, which British buyout group Terra Firma Capital Partners put up for sale in January this year. Tank & Rast could appeal to pension funds and insurers who are focusing on infrastructure investments to generate better returns than from government bonds, the sources said………………………………………..Full Article: Source

GIC, Temasek to invest S$642m each in airport retailer Dufry

Posted on 31 March 2015 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and investment firm Temasek Holdings will invest 450 million Swiss francs (S$642 million) each in the airport retailer Dufry. They plan to purchase shares from a rights issue by Dufry, which is trying to raise funds for its billion-dollar deal to acquire Italy’s World Duty Free (WDF) Group.
The Swiss-based retailer is paying €1.3 billion (S$1.94 billion) to buy a 50.1 per cent stake in WDF from Italy’s Benetton family through its holding company Edizione. The deal will trigger a mandatory offer for the balance of World Duty Free’s outstanding shares at the same terms. Under the terms, Dufry will pay €10.25 per share in cash for each WDF share, valuing the Italian firm at about €3.6 billion after taking into account debt, which stood at €970 million at the end of last year………………………………………..Full Article: Source

GIC among investors bidding for German group Tank & Rast in $4.11b deal

Posted on 31 March 2015 by VRS  |  Email |Print

German motorway service station group Taoutnk & Rast (Tank & Rast), which has been up for grabs for three months now, has attracted several investor groups including Singapore’s GIC to bid in a deal worth up to 3.5 billion euros ($4.11 billion).
Reuters found out through sources that the investors were preparing to bid for the group, which British buyout group Terra Firma Capital Partners put up for sale in January this year. Tank & Rast could appeal to pension funds and insurers who are focusing on infrastructure investments to generate better returns than from government bonds, the sources said………………………………………..Full Article: Source

Amcorp steps up UK venture with Temasek

Posted on 31 March 2015 by VRS  |  Email |Print

Amcorp Properties Bhd has partnered with Temasek Holdings Pte Ltd in a redevelopment project in London valued at more than £1bil (RM5.46bil). It told Bursa Malaysia its indirect unit SNL Ltd (30% equity holding) had signed a subscription and shareholders’ agreement with Temasek’s indirect unit Hubbard Investments (30%), Singapore-based hotel operator Hotel Properties Ltd (30%) and a special-purpose vehicle controlled by the shareholders of London-based property developer Native Land (10%).
Their joint-venture (JV) firm, Bankside Quarter (Jersey) Ltd, on Friday bought the companies that own Sampson House and Ludgate House for £308mil (RM1.68bil), freehold office buildings next to the River Thames………………………………………..Full Article: Source

S.Korea sovereign wealth fund KIC may buy 19 pct of LA Dodgers -Yonhap

Posted on 31 March 2015 by VRS  |  Email |Print

Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, is considering buying about 19 percent of the Los Angeles Dodgers baseball team for more than 400 billion won ($361.65 million), Yonhap reported on Monday.
KIC is conducting due diligence with a view to possibly buying the stake from global investment and advisory firm Guggenheim Partners, the newswire service reported citing an unnamed investment banking source or sources. A KIC spokesman declined comment. A media official representing Guggenheim could not be reached for comment………………………………………..Full Article: Source

China, Russia eyeing 32 projects with $75b investment: RDIF

Posted on 31 March 2015 by VRS  |  Email |Print

China and Russia are mulling 32 projects with total investment of up to $75 billion, Kirill Dmitriev, CEO of Russian Direct Investment Fund (RDIF), the country’s sovereign wealth fund, said. The projects include a petrochemical project between Chinese oil giant Sinopec and Russian petrochemical company Sibur, a project between Russian aircraft company Sukhoi Superjet and a number of Chinese investors to help the former expand its business in China, and a big metal project called Udocan deposit close to China, according to Dmitriev.
The projects, covering metals, agriculture, infrastructure and industries, were discussed at a meeting held Monday in Beijing by a consultative committee of entrepreneurs under the intergovernmental Russia-China Commission for Investment Cooperation. The $2 billion Russia-China Investment Fund (RCIF), launched jointly by RDIF and its Chinese counterpart China Investment Corporation in June 2012, has already approved 10 investment projects in metals, tourism and infrastructure sectors………………………………………..Full Article: Source

Bahrain’s Mumtalakat, Investcorp Acquire Private School Network In US

Posted on 31 March 2015 by VRS  |  Email |Print

Bahraini sovereign wealth fund Mumtalakat and investment firm Investcorp announced that they have jointly acquired Nobel Learning, a private school network in the US, from Leeds Equity Partners. The value of the transaction was not disclosed.
One of the largest private operators in the US, Nobel Learning operates a network of 176 schools across 18 states. The company also has an accredited online private school that offers college preparatory programmes to students from 55 countries worldwide. Founded in 1984, it now has approximately 5,000 teachers and staff and 25,000 students………………………………………..Full Article: Source

Qatar Companies to Invest $5 Billion in China for LNG Projects

Posted on 31 March 2015 by VRS  |  Email |Print

Two Qatari companies agreed to pay about $5 billion for a 49 percent stake in Shandong Dongming Petrochemical Group to help the Chinese business build an LNG receiving terminal and expand into retail gasoline sales.
The investment by Hamad bin Suhaim Enterprises and Qatra for Investment and Development will pay for the construction of a receiving terminal for liquefied natural gas, with a capacity of 3 million metric tons a year, and an LNG storage facility, Ibrahim El-Tinay, Qatra’s chief executive officer, told reporters Monday in the Qatari capital Doha. Shandong Dongming will also use the money to built 1,000 gasoline filling stations in six provinces south of Beijing, he said………………………………………..Full Article: Source

Spain’s Gas Natural says Kuwait’s KIA to invest in its overseas unit

Posted on 31 March 2015 by VRS  |  Email |Print

Spanish energy group Gas Natural said on Monday it was teaming up with sovereign wealth fund Kuwait Investment Authority (KIA) to develop its international business through its Global Power Generation (GPG) subsidiary.
Gas Natural said the Kuwaiti group would subscribe to a $550 million capital hike at GPG and take a 25 percent stake in the unit, which it created last October as part of its plans to grow overseas. These include, in the medium term, building an additional 5 Gigawatts in generation capacity, mainly in markets such as Latin America and Asia, Gas Natural added in a statement………………………………………..Full Article: Source

China’s CIC to boost foreign direct investment

Posted on 30 March 2015 by VRS  |  Email |Print

China’s giant sovereign wealth fund is stepping up direct investments in long-term global assets, focusing particularly on the US in a vote of confidence in the recovery in the world’s largest economy. Ding Xuedong, chairman of China Investment Corporation, which has about $US220 billion ($284bn) in overseas assets, said he saw diverging economic growth in coming years, with a resurgent US leading the way.
“The US is recovering faster than many have expected, which would make it the No. 1 engine of growth for the global economy,” Mr Ding said on the sidelines of the Boao Forum, an annual gathering of world political and business leaders in the southern Chinese island of Hainan………………………………………..Full Article: Source

Qatar’s QIA to partly fund Dufry’s purchase of WDF: sources

Posted on 30 March 2015 by VRS  |  Email |Print

Qatar Investment Authority is partly financing Swiss travel retailer Dufry’s 1.3 billion-euro purchase of a majority stake in smaller Italian rival World Duty Free, according to three sources close to the matter.
Edizione, the holding company owned by the Benetton family that controls World Duty Free (WDF), said on Saturday it was selling its 50.1 percent stake in the group to Dufry for 10.25 euros per share. The deal values the Italian firm at 3.6 billion euros ($3.8 billion) and will make the combined group the world’s biggest travel retailer by far………………………………………..Full Article: Source

Investor groups ready bids for German motorway station group

Posted on 30 March 2015 by VRS  |  Email |Print

Several investor groups are readying bids for German motorway service station group Tank & Rast, in a deal worth up to 3.5 billion euros ($3.8 billion), sources familiar with the transaction said. A consortium of Allianz, Munich Re (MEAG), sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and Borealis, part of pension fund OMERS, aims to hand in an offer by a mid- to end-April deadline, the people said.
Canadian pension funds PSP and Ontario Teachers (OTPP) as well as Singapore sovereign wealth fund GIC are working on a joint offer, they added. The infrastructure arm of Australia’s bank Macquarie is also expected to express interest………………………………………..Full Article: Source

S.Korea’s KIC mulls taking up to $1.36 bln stake in 3 luxury hotels-Chosun Ilbo

Posted on 27 March 2015 by VRS  |  Email |Print

Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, is considering investing around 1-1.5 trillion won ($906 million-$1.36 billion) in three five-star hotels owned by Saudi Arabia-based Kingdom Holding Co, a South Korean newspaper reported on Friday.
The hotels include The Savoy in London, and KIC is considering taking about a 50 percent stake, the Chosun Ilbo reported, citing unnamed KIC and investment banking sources. A KIC spokesman declined comment………………………………………..Full Article: Source

In Africa, SWFs Seek to Bridge Infrastructure Gap — And Make Money Too

Posted on 26 March 2015 by VRS  |  Email |Print

Across sub-Saharan Africa, sovereign wealth funds are stepping in to provide capital for big infrastructure projects. There are major risks — but the profits could be huge. The town of Bagamoyo, on Tanzania’s sun-drenched Indian Ocean coast, is a quiet seaport with a history of maritime trade. But it could be about to get a lot busier.
The Tanzanian government has signed an $11 billion deal to transform this historic harbor into Africa’s biggest port. Bagamoyo will become a “special economic zone,” shipping oil, gas and food products from East Africa to emerging economies in the Middle East, Asia and beyond. To secure funding for the project, the Tanzanian government brought in a pair of big foreign investors: Hong Kong-based infrastructure conglomerate China Merchants Holdings International Co. and a sovereign wealth fund, the $34.4 billion State General Reserve Fund of the Sultanate of Oman(SGRF)………………………………………..Full Article: Source

Paladin Energy raises additional $50m from CIC

Posted on 26 March 2015 by VRS  |  Email |Print

Paladin Energy has raised an additional $US50 million by issuing convertible bonds to a unit of sovereign wealth fund China Investment Corporation (CIC). The proceeds will provide the company with additional funding flexibility.
The uranium miner (PDN) previously agreed to issue convertible bonds worth $US100m to CIC, with the funds to be used for the repurchase of existing convertible bonds due in November. The CIC investment will bolster Paladin’s cash position and reduce the need for any additional funding in the medium term, chief executive John Borshoff said in a statement………………………………………..Full Article: Source

Hutch agrees to buy O2, talks to SWFs

Posted on 26 March 2015 by VRS  |  Email |Print

Li Ka-shing-controlled Hutchison Whampoa has agreed to pay up to £10.25 billion ($15.2 billion) for UK mobile phone firm O2. The deal announced on Wednesday with Spanish parent Telefonica will create the UK’s biggest mobile operator, once O2 is merged with Hutchison 3G UK, and marks Hutchison Whampoa’s largest acquisition ever, as Hong Kong’s richest man Li doubles down on investments in Europe.
Hutchison Whampoa has not revealed any details of who the potential investors might be but, according to a source familiar with the matter, the company is in discussions with investors including sovereign wealth funds and private equity firms. There are a series of discussions going on with investors and a preference for sovereign wealth and pension funds. According to reports, Singapore’s GIC, Canadian pension funds, and Qatar’s sovereign wealth fund are among those that are in talks with Hutchison Whampoa………………………………………..Full Article: Source

Hutchison to buy UK mobile network O2 for £10.25 billion, “in talks with GIC on investing in enlarged business”

Posted on 25 March 2015 by VRS  |  Email |Print

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. agreed to acquire Telefonica’s O2 unit in the U.K. for more than £10.25 billion (S$20.80 billion) to create the country’s biggest wireless provider by customers. The price includes an initial sum of £9.25 billion in cash, with the remainder to be paid when certain financial targets are met, Telefonica said Tuesday.
Hutchison is selling 30 per cent of the enlarged business, a stake it values at as much as £3 billion, people familiar with the matter said. Hutchison is in talks with investors including Singapore’s sovereign wealth fund GIC and Canada Pension Plan Investment Board, and has also held discussions with potential partners including Qatar’s sovereign-wealth fund, they said………………………………………..Full Article: Source

CIC Makes Strategic Investment in Uranium Mining Company

Posted on 25 March 2015 by VRS  |  Email |Print

Currently, China has 27 nuclear reactors under construction. The Asian giant’s nuclear programme possessed 18 GW of nuclear energy capacity in 2014, determined to hit 58 GW by 2020. The demand from China, India and the Middle East are elevating uranium prices, catching up to pre-Fukushima levels.
Perth-based Paladin Energy Ltd, a Uranium explorer and mining company, has agreed to issue US$ 50 million in senior, unsecured convertible bonds to Leader Investment Corporation, a sovereign wealth enterprise (SWE) of the China Investment Corporation (CIC). These convertible bonds issued to the sovereign wealth fund are on the same terms and conditions from the last US$ 100 million convertible bonds that were issued to clients of JP Morgan………………………………………..Full Article: Source

Qatar has big investment plans for India

Posted on 25 March 2015 by VRS  |  Email |Print

The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, told TOI on the eve of his summit with Narendra Modi - the Prime Minister’s first with a leader of the Arab world - that his energy-rich country wanted to invest big in India. “I know that the new government is taking a number of initiatives, especially in business and investment, which is very interesting and encouraging from our point of view. We trust the Indian economy. So we will invest in India.”
Through the Qatar Investment Authority, he holds significant stakes in such blue-chip corporations as Harrods, Barclays and Sainsbury; he also owns the famed Paris Saint-Germaine Football Club, and controversially won the right to host the 2022 football World Cup………………………………………..Full Article: Source

Qatar’s QIA to join Swiss travel retailer Dufry in bid for WDF

Posted on 25 March 2015 by VRS  |  Email |Print

Qatar Investment Authority and Swiss travel retailer Dufry are teaming up to bid for Italian travel retailer World Duty Free (WDF), which belongs to the Benetton family, two sources familiar with the matter told Reuters on Monday. “QIA and Dufry have a joint bid for WDF,” said a senior banker in Doha familiar with the matter.
He declined to give details but said the tie-up was a sign of a more conservative investment style adopted by the Qatari sovereign wealth fund recently; in the past, it might well have bid by itself. A second source confirmed the joint bid and said the deadline was now expected to be March 31, after a delay due to rival bidders - South Korea’s Lotte Group and China’s Sunrise Duty Free - asking for more time………………………………………..Full Article: Source

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