Mon, Dec 22, 2014
A A A
Welcome preal121
RSS

Sovereign Wealth Funds Briefing - Category | Investment more

Was a Chinese sovereign wealth fund willing to immediately write a check?

Posted on 27 November 2014 by VRS  |  Email |Print

As the 37-day bench trial regarding the U.S. government’s forced bailout of American International Group Inc wraps up, a big question is: did the government disregard a valid offer from a Chinese sovereign wealth fund that could have bailed out AIG? Maurice R. “Hank” Greenberg, AIG’s legendary CEO and largest shareholder, brought the lawsuit against the government.
The suit essentially makes two claims: The large Wall Street banks essentially received favorable bailout terms while AIG was harshly punished – an argument that is hard to dispute. The second charge, and the one that could play into the trial more significantly, is that AIG had a valid offer from the China Investment Corp. (CIC), sovereign wealth fund, to purchase the firm and the government dismissed that offer out of hand…………………………………….Full Article: Source

Temasek, Capital International eye Avantha’s consumer biz stake

Posted on 27 November 2014 by VRS  |  Email |Print

Leading global private equity (PE) companies such as US-based Capital International Private Equity, Singapore’s sovereign fund Temasek and Bain Capital are keen to acquire a minority stake in Crompton Greaves Consumer Products - the proposed de-merged consumer business division of Avantha Group - sources said.
On Monday, Crompton Greaves, part of Gautam Thapar-promoted Avantha had said Avantha Holdings would sell a part of its 42.7 per cent stake in Crompton Greaves Consumer Products. Avantha Holdings directly owns 40.84 per cent stake with the rest held by other investment entities…………………………………….Full Article: Source

What the Nordic states can teach us about investing mining wealth

Posted on 26 November 2014 by VRS  |  Email |Print

The government formed the Petroleum Fund, into which money began to be deposited in 1996. In 2006 this became the Government Pension Fund – Global (Statens Pensjonsfond). It is commonly referred to by Norwegians as the Oljefondet (oil fund), while it is often referred to in other parts of the world as Norway’s “sovereign wealth fund”.
The fund is fully owned by the Norwegian state through the Ministry of Finance. It is managed by Norway’s central bank (Norges Bank). It has grown to be worth more than 5000 billion Norwegian kroner — some $800 billion. The fund takes in all the considerable revenues which the government receives from Norway’s oil and gas, including taxes, ownership shares and dividends from Statoil………………………………..Full Article: Source

KIC to retain BOA stake for time being: chief

Posted on 26 November 2014 by VRS  |  Email |Print

The head of South Korea’s sovereign wealth fund on Monday apologized for its botched investment in Bank of America (BoA) but stressed it plans to retain the stake for the time being to minimize losses.
“I believe that it was a poor investment and apologize to the people of Korea. I promise that Korea Investment Corp. (KIC) will remember the painful lesson from the Merrill Lynch investment and become a global sovereign wealth fund,” KIC chief executive Ahn Hong-chul told reporters in a news conference. KIC has been facing strong backlash from opposition party lawmakers for its US$2 billion investment in Merrill Lynch in 2008 before the financial firm was merged with BoA………………………………..Full Article: Source

SWF Apologizes to Citizens for Merrill Lynch Investment

Posted on 26 November 2014 by VRS  |  Email |Print

The head of South Korea’s $77 billion sovereign wealth fund has apologized to the country’s citizens for its disastrous $2 billion investment in Merrill Lynch, made shortly before the corporation merged with Bank of America.
“I believe that it was a poor investment and apologize to the people of Korea,” Hongchul Ahn, CEO of the Korea Investment Corporation (KIC), told reporters in a news conference Monday. “I promise that Korea Investment Corporation will remember the painful lesson from the Merrill Lynch investment and become a global sovereign wealth fund.”……………………………….Full Article: Source

NZ Super Fund’s Orr says responsible investing now a groundswell globally

Posted on 26 November 2014 by VRS  |  Email |Print

NZ Superannuation Fund chief executive Adrian Orr said long-term and responsible investing has become a groundswell globally, rather than a ripple. Speaking at today’s Responsible Investment Association of Australasia conference in Auckland, Orr said globally it had reached a tipping point where more asset owners were now having regard for responsible investment drivers such as environmental, social and governance issues.
The latest report from the RIAA showed in 2013 assets managed responsibly in New Zealand increased by 20 percent to just over $27 billion, around 40 percent of total assets under management, much of that due to the Super Fund………………………………..Full Article: Source

Bajaj Corp sells 8% stake to Temasek: Sources

Posted on 26 November 2014 by VRS  |  Email |Print

Bajaj Corp has sold 8 percent stake in the company to Temasek, CNBC-TV18 learns from sources. The stake sale has been done to close equity funding for Bajaj Corp’s 2,000 MW power plant in Uttar Pradesh.
This power plant has been based on BHEL’s technology and is expected to go live in January next year, sources add. It is further learnt that any further stake sale is unlikely………………………………..Full Article: Source

Yonhap: KIC to retain BOA stake for time being: chief

Posted on 25 November 2014 by VRS  |  Email |Print

The head of South Korea’s sovereign wealth fund on Monday apologized for its botched investment in Bank of America (BoA) but stressed it plans to retain the stake for the time being to minimize losses. “I believe that it was a poor investment and apologize to the people of Korea. I promise that Korea Investment Corp. (KIC) will remember the painful lesson from the Merrill Lynch investment and become a global sovereign wealth fund,” KIC chief executive Ahn Hong-chul said.
KIC has been facing strong backlash from opposition party lawmakers for its US$2 billion investment in Merrill Lynch in 2008 before the financial firm was merged with BoA…………………………………Full Article: Source

QIA building top-end hotel portfolio worldwide

Posted on 24 November 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA), is building a global top-end hotel portfolio. QIA displayed strong interests in global hotels and tourism facilities last year, according to a new report.
“QIA confirmed its appetite for trophy-assets and luxury brands by acquiring via its specialised subsidiary Constellations Hotels Holding nothing less than the InterContinental flagship hotels in London and New York; l’Hotel du Louvre in Paris; and the Four Seasons Hotel in Florence. In a separate 100m pounds deal it also acquired the freehold from the Crown Estate, the property company that controls the assets of the Crown in the UK…………………………………..Full Article: Source

Is the Future Fund falling behind the divestment curve?

Posted on 24 November 2014 by VRS  |  Email |Print

When questioned in Parliament on Thursday about why the Future Fund has not divested from fossil fuels, Chairman Peter Costello was quick to respond that the fund’s only mandate is to deliver investment returns.
Costello’s response is typical of a generation of money managers who don’t yet appreciate the enormous risk that climate change poses to financial markets. So far, it has fallen largely upon the shoulders of environmentalists to draw investors’ attention to this risk, however the issue is now rapidly spreading to the senior levels of global money managers like Goldman Sachs and the world’s largest fund manager, BlackRock…………………………………..Full Article: Source

QIA plans to invest up to $20bn in ‘Greater Asia’ over five years

Posted on 21 November 2014 by VRS  |  Email |Print

Qatar’s sovereign wealth fund plans to invest up to $20bn in “Greater Asia” over the next five years as part of portfolio diversification, said Qatar Investment Authority chief executive officer, HE Ahmed al-Sayed.
“In the region we plan to invest (initially) between $15bn and $20bn… it could be more… it could be less. It depends on the time. The timing and market situation will govern our final decision to execute investments. But we have a good appetite. That will give us good diversification of our portfolio as a global fund,” al-Sayed, also the Minister of State told reporters on the sidelines of the 6th annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) at the Ritz-Carlton………………………………….Full Article: Source

Qatar in talks to fund UK high-speed rail plan

Posted on 21 November 2014 by VRS  |  Email |Print

Qatar is interested in investing billions of dollars in infrastructure around the north of England, the Financial Times reported on Tuesday. The report claimed the Qatari royal family has informed British ministers it is interested in investing in infrastructure opportunities around the new HS2 high-speed rail line, which will link London to Birmingham, then Leeds and Manchester.
The opportunity was discussed last month when the Emir, Sheikh Tamim bin Hamad Al Thani, met with British Prime Minister David Cameron. “The Prime Minister … encouraged the Emir to consider more opportunities across the country, particularly the government’s plan to establish a Northern Powerhouse by connecting our great Northern cities and the development of high speed rail,” a statement issued after the Emir’s visit said………………………………….Full Article: Source

SWFs’ Doha meeting adopts three-year strategic plan to enhance investments

Posted on 21 November 2014 by VRS  |  Email |Print

World’s leading sovereign wealth funds (SWFs) yesterday unanimously agreed upon a “Doha Agreement”, adopting a three-year strategic plan to ensure free flow of long-term global capital and strong real returns for the progeny; even as they asked recipient countries to be more transparent.
Moreover, 21 more countries are planning to establish SWFs; these were disclosed by the International Forum of SWFs (IFSWF), which held its sixth annual meeting here, hosted by the Qatar Investment Authority (QIA). The strategic plan, agreed by IFSWF, seeks to leverage those strengths to work towards becoming an important global reference on the governance, investment and operational practices of IFSWF-member SWFs………………………………….Full Article: Source

Temasek, Winklevoss invest in US start-up which predicts outcome of legislation

Posted on 21 November 2014 by VRS  |  Email |Print

Temasek Holdings has invested in a Washington-based start-up which uses artificial intelligence to predict the outcome of legislation. According to The Washington Post, FiscalNote has closed a US$7 million round of funding from a raft of big names, including the Singapore sovereign wealth fund and the Winklevoss twins, famous for their lawsuits against Facebook and its founder, Mark Zuckerberg.
FiscalNote, founded by a Potomac entrepreneur, uses data-mining software and artificial intelligence to predict the fate of Bills proposed by state legislatures and Congress each year. The company claims 94 per cent accuracy………………………………….Full Article: Source

Reverse Logistics may raise $125 million, step into new markets

Posted on 21 November 2014 by VRS  |  Email |Print

Refurbished goods retailer Reverse Logistics Corps, which owns and operates GreenDust.com, is in talks with global hedge funds and wealth funds to raise about $125 million (Rs 772 crore) in another round of funding. Among those the Delhi-based company is talking to for Series B capital are Temasek, the sovereign investment arm of the government of Singapore, and hedge fund Falcon Edge Capital, according to two persons privy to the development.
Separately, two Middle Eastbased sovereign funds and a Far East-based family office are also believed to be in the running to buy a stake in GreenDust, a transaction that could potentially value the company at between $375 million (Rs. 2,300 crore) and $400 million (Rs 2,470 crore). GreenDust founder Hitendra Chaturvedi and Temasek spokesperson Stephen Foreshaw declined to comment on the developments. An email query sent to Falcon Edge Capital remained unanswered till as of press time. …………………………………Full Article: Source

Singapore’s Temasek invests in Tel Aviv University technology

Posted on 19 November 2014 by VRS  |  Email |Print

Singapore-based investment company Temasek agreed to help fund new technologies emerging from research at Tel Aviv University, the university’s technology company Ramot said. Temasek agreed with Ramot to invest $5 million in the $23.5 million Momentum Fund, which selected six technologies earlier in 2014 and is in the process of choosing another four to six.
Temasek, which has a portfolio valued at $177 billion, will be a lead investor in the fund along with India’s Tata Industries. The funds will go to a variety of technologies ranging from environment and clean tech to pharmaceuticals………………………………….Full Article: Source

Italian, Qatari Funds Make First Investment In Italian Food

Posted on 17 November 2014 by VRS  |  Email |Print

State-backed Italian and Qatari investors are to buy a 165 million euro ($205 million) stake in Inalca, expanding the Italian meat producer’s overseas markets in the first such deal by the two investment partners. Under the deal signed on Friday, the IQ Made in Italy joint venture will buy a 28.4 per cent stake in Inalca, currently wholly owned by Italian food producer and caterer Cremonini.
Italian state-backed private equity fund Fondo Strategico Italiano (FSI) and Qatar Holding, a fund created by the Qatar Investment Authority, set up the joint venture in March 2013 to invest in a range of Italian companies in the food, fashion and luxury, tourism and leisure sectors………………………………….Full Article: Source

CIC, Illinois Teachers eye cross-border deals

Posted on 14 November 2014 by VRS  |  Email |Print

China Investment Corporation (CIC) and Illinois Teachers’s Retirement System have been talking up the benefits of private equity investors and managers collaborating on cross-border deals. China’s sovereign wealth fund said it was keen on facilitating European deals, while the $46 billion US state pension spoke about its recently agreed partnership with a PE fund-of-funds manager and the types of tie-ups it was seeing.
CIC’s head of private equity, He Linbo, said the sovereign wealth fund is willing to act as a bridge to connect both Chinese companies with overseas investors, and foreign companies with opportunities in the mainland…………………………………..Full Article: Source

Rocco Forte secures funding from Italian sovereign wealth fund

Posted on 14 November 2014 by VRS  |  Email |Print

Rocco Forte Hotels has announced a strategic partnership with Fondo Strategico Italiano Spa, the Italian State-backed sovereign fund 80 per cent controlled by Cassa Depositi e Prestiti and 20 per cent by Bank of Italy.It has a paid-up share capital of €4.4 billion.
FSI will inject £60 million into Rocco Forte and Family in exchange for an equity stake of 23 per cent, valuing the enlarged equity at £260 million. Rocco Forte Hotels has partnered with FSI because it is a strategic and long-term investor…………………………………..Full Article: Source

Opinion: A fund for human capital

Posted on 13 November 2014 by VRS  |  Email |Print

The proposal from the Department of Energy and Climate Change (DECC) to establish a sovereign wealth fund based on future revenues from the extraction of shale gas, is, in principle a good idea. Many countries now have such a fund, turning current oil and gas revenues into a national asset for the long term. Norway’s fund is most often quoted as an example; another lesser known example is the state of Texas in the US which has such a fund for its universities.
The details of the proposal from DECC are yet to be released so its final shape and impact is unknown. Given the size of the UK economy, and our budget deficit, the idea that we can build a large financial fund of the type enjoyed by Norway is unrealistic………………………………………..Full Article: Source

Kelvin Re 100% backed by Abu Dhabi sovereign wealth fund

Posted on 12 November 2014 by VRS  |  Email |Print

The Abu Dhabi Investment Council (ADIC) is the sole equity backer of Credit Suisse Asset Management (CSAM)’s Guernsey start-up reinsurance vehicle Kelvin Re, a report from rating agency AM Best has revealed.
Kelvin Re is expected to write a globally diversified reinsurance portfolio with gross premium of $100mn in its first year, of which two-thirds will comprise non-proportional catastrophe business. AM Best said this could increase by 8-12 percent in subsequent years, meaning non-proportional catastrophe risks could make up between………………………………………….Full Article: Source

Equities to stay dominant in SWF portfolios: Cerulli

Posted on 11 November 2014 by VRS  |  Email |Print

While Asia’s biggest institutions are increasingly investing in alternative assets, sovereign wealth funds’ allocations continue to be dominated by equities, and that situation is likely to continue, said research house Cerulli Associates.
But a shared penchant for equities has not resulted in uniform performance, the firm found in a new report, in which it focuses on Asia’s four largest SWFs: Singapore’s GIC and Temasek, Korea Investment Corporation (KIC), and CIC International, the unit of China Investment Corporation that invests offshore………………………………………..Full Article: Source

Qatar bid doesn’t hit the right note for Songbird

Posted on 11 November 2014 by VRS  |  Email |Print

Canary Wharf majority stake holder, Songbird, has rejected a £1.6bn joint take over bid from the Qatari Sovereign Wealth fund and American Property Firm, Brookfield Property Partners. News of a potential deal broke at around lunchtime last Thursday with Songbird chairman David Pritchard initially saying:
“The board of Songbird will consider this approach in light of what is in the best interests of the shareholders in the company as a whole and in the meantime Songbird shareholders are advised to take no action.” However Songbird, which owns 69% of Canary Wharf and surrounding buildings, announced on Friday that it had rejected the Qatari bid………………………………………..Full Article: Source

Temasek buys 10.16% stake in Intas Pharma from ChrysCapital

Posted on 11 November 2014 by VRS  |  Email |Print

Singapore’s sovereign fund Temasek has bought 10.16 per cent stake in Intas Pharmaceuticals Ltd from PE firm ChrysCapital, for an undisclosed amount by way of a secondary PE deal, as per a press release. VCCircle had first reported that Temasek has emerged as the front-runner for buying the stake for around Rs 840 crore.
In September this year, Temasek, one of the two sovereign wealth funds of Singapore, received Competition Commission of India’s (CCI) approval to buy part of the stake held by ChrysCapital in the pharma company. It had also received a nod from FIPB, the nodal body monitoring foreign investment in the country, to go ahead with the transaction………………………………………..Full Article: Source

Italian sovereign wealth fund buys 23% of Rocco Forte Hotels

Posted on 10 November 2014 by VRS  |  Email |Print

Sir Rocco Forte is giving up nearly a quarter of his luxury hotels business to Italian investors in return for a £60m investment to double the size of its portfolio in five years. Rocco Forte Hotels will seek to add at least four properties in Italy as a result of the cash injection from sovereign wealth fund Fondo Strategico Italiano.
The fund will get 23 per cent of the company, and projects in Venice, Milan, Naples and Sicily have been identified for expansion. Beyond Italy, the group of 10 hotels will add Jeddah next summer and is also looking at Shanghai, New York, Paris and Madrid………………………………………..Full Article: Source

Goodman Group and Singapore’s sovereign wealth fund, GIC invest in Auckland’s Viaduct Precinct

Posted on 10 November 2014 by VRS  |  Email |Print

Investment in New Zealand’s property market is on an upward trajectory with a number of Australian-based joint ventures, public floats and residential projects be readied for completion in the short to medium term.
While the “cross border” trans tasman cash flow is not new, for the past few years its been more west to east, than the reverse. The trigger has been the improving market conditions in the main centres of Auckland and Wellington and the weight of money in the investment world seeking out higher yields in a low interest rate environment………………………………………..Full Article: Source

Qatar and Brookfield’s bid for Canary Wharf rejected

Posted on 10 November 2014 by VRS  |  Email |Print

Songbird Estates, the owner of London’s Canary Wharf financial district, rejected an approach from Qatar Investment Authority and Brookfield Property because the proposed bid is too low.
The Qatar fund and Brookfield may offer 295 pence a share, Songbird said in a statement. The owner of about 6pc of Canary Wharf Group climbed 22pc to 320 pence in London trading yesterday after announcing the approach………………………………………..Full Article: Source

Asian Sovereign Wealth Fund Portfolios Still Dominated by Equities

Posted on 07 November 2014 by VRS  |  Email |Print

Despite strong attention focused on allocation to alternatives such as private equity and real estate by Asian sovereign wealth funds (SWFs), their allocations to equities continued to dominate through year-end 2013, says a report by research firm Cerulli Associates Asia.
About 70% of Singapore’s Temasek Holdings’ investments are in listed securities, according to the Singapore firm’s latest annual report. Korea Investment Corporation’s exposure to equities has been increasing steadily, from 41.8% in 2010 to 48.5% in 2013. China’s China Investment Corporation has a slightly lower ratio of 40.4% of its portfolio in public equities as of 31 December 2013………………………………………..Full Article: Source

Philippines’ Emperador says Singapore’s GIC to buy initial 9.64 pct stake

Posted on 07 November 2014 by VRS  |  Email |Print

Philippine liquor firm Emperador Inc said on Friday it had agreed to sell a 9.64 percent stake to GIC for 17.6 billion pesos ($391 million), in what it described as an initial investment by the Singaporean sovereign wealth fund.
The deal comprises an equity investment of 12.32 billion pesos for the purchase of 1.12 billion common shares equivalent to a 6.95 percent direct equity stake in Emperador, and equity-linked securities (ELS) worth 5.28 billion pesos………………………………………..Full Article: Source

MAS minority shareholders approve Khazanah plan

Posted on 07 November 2014 by VRS  |  Email |Print

Malaysia Airlines (MAS) minority shareholders have approved Khazanah Nasional Bhd’s privatisation offer of 27 sen a share at its EGM on Thursday. The proposal received 93.3% approval from the minority shareholders who turned up at the EGM, which was held at the MAS academy in Kelana Jaya.
This was the ailing airline’s most important EGM ever in its corporate history, as its fate was decided by the minorities to enable it to start afresh in July next year. Its share price fell to an intra afternoon low of 18.5 sen. At 4.30pm, it was unchanged at 26 sen………………………………………..Full Article: Source

Qatar wealth fund makes joint bid for Canary Wharf-owner Songbird

Posted on 07 November 2014 by VRS  |  Email |Print

Songbird Estates, the majority owner of London’s Canary Wharf estate, said it had received a joint preliminary approach from Qatar Investment Authority and Brookfield Property Partners regarding a possible takeover.
“The board of Songbird will consider this approach in light of what is in the best interests of the shareholders in the company as a whole and in the meantime Songbird shareholders are advised to take no action,” the company said in a statement on Thursday………………………………………..Full Article: Source

KIC to Create $2 Bil. Fund with Qatari Sovereign Wealth Fund

Posted on 06 November 2014 by VRS  |  Email |Print

Korea Investment Corp., the nation’s sovereign wealth fund, will join hands with Qatar’s counterpart to make investment together. The Korean sovereign wealth fund based on foreign currency reserves said on November 5 that is signed a memorandum with the Qatar Investment Authority to form a joint investment fund.
The two sovereign wealth funds will chip in US$1 billion each to create a $2-billion fund while establishing a joint management committee to oversee it. Committee meetings will be held once a year either in Seoul or Doha………………………………………..Full Article: Source

GIC taking 49% stake in NZ project

Posted on 06 November 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC is making its foray into the New Zealand real estate sector with an investment in a major Auckland waterfront precinct. GIC is taking a 49 per cent stake in a joint venture with New Zealand-listed Goodman Property Trust (GMT), which holds the other 51 per cent of the partnership.
The joint venture will invest in Auckland’s Viaduct area with an initial portfolio of assets worth NZ$313 million (S$313 million), said GIC and GMT’s manager Goodman (NZ) in a joint statement………………………………………..Full Article: Source

Qatar’s Sovereign-Wealth Fund to Invest at Least $15 Billion in Asia

Posted on 05 November 2014 by VRS  |  Email |Print

Qatar’s sovereign-wealth fund is gearing up to invest $15 billion or more across Asia, and plans to team up with China’s Citic Group as it pursues infrastructure and other investment.
The chief executive of Qatar Investment Authority, Ahmad Mohamed Al-Sayed, told reporters in Beijing on Tuesday that the sovereign-wealth fund aimed to spend $15 billion to $20 billion across the region in the next five years, in industries including health care, infrastructure and real estate………………………………………..Full Article: Source

Qatar sovereign fund to launch $10 bln investment fund with China’s Citic Group

Posted on 05 November 2014 by VRS  |  Email |Print

The Qatar Investment Authority (QIA), one of the world’s most aggressive investors, has signed an agreement on Tuesday with CITIC Group Corp to launch a $10 billion fund that will invest in the region, the chief executive of the Qatari sovereign wealth fund said.
QIA, which is estimated to have around $170 billion, and state-owned conglomerate CITIC Group signed a memorandum of understanding to launch the 50-50 investment fund, QIA Chief Executive Ahmed Al-Sayed said at an investment conference in Beijing………………………………………..Full Article: Source

GIC Bucks Trend With Bid for IndCor

Posted on 05 November 2014 by VRS  |  Email |Print

Singapore state investment firm GIC Private Ltd.’s move to bid on a Blackstone Group-backed real estate investment trust runs somewhat counter to a shift away from direct real estate investing among sovereign wealth funds.
A new report from Sovereign Wealth Center, part of publishing and events company Euromoney Institutional Investor PLC, found that sovereign funds this year moved away from direct investment in real estate in favor of deals in other industries such as technology………………………………………..Full Article: Source

GIC-led group in talks to buy IndCor in S$10b deal

Posted on 05 November 2014 by VRS  |  Email |Print

GIC, the Republic’s sovereign wealth fund, is leading a consortium in negotiations to buy IndCor Properties from United States private equity giant Blackstone Group in a deal valued at about US$8 billion (S$10.3 billion), sources familiar with the matter said.Chicago-based IndCor, formed in 2010 as a portfolio company of Blackstone, holds warehouses and distribution centres across the US, said the company’s website.
“Talks are still ongoing. We don’t know whether there will be a deal yet,” said one source, who declined to be identified as the discussions remained confidential. A spokeswoman for GIC declined to comment, while Blackstone had not replied to an email seeking comment by press time………………………………………..Full Article: Source

The wealth funds clinching the most deals are …

Posted on 05 November 2014 by VRS  |  Email |Print

Singapore’s Temasek and GIC were the most active sovereign wealth funds last year, chasing investments even as deal-making by their peers, especially China, dropped sharply, according to a new report.
GIC and Temasek made 40 and 38 direct investments respectively, for a combined total of $14.3 billion, accounting for around 34 percent of the total allocations by sovereign funds, the Sovereign Wealth Center (SWC) said in a report………………………………………..Full Article: Source

Norway sovereign wealth fund to increase A-share exposure

Posted on 05 November 2014 by VRS  |  Email |Print

Sovereign wealth fund chief says he plans to increase A-share exposure, reports Bloomberg.Once a year, the man running the world’s biggest sovereign wealth fund travels around China for a week.
Though assets from the country make up only about 1.5 percent of the $860 billion Norwegian wealth fund’s portfolio, Yngve Slyngstad, its chief executive officer, said almost all investment decisions are affected by what happens in China………………………………………..Full Article: Source

Norway sovereign fund chief sets sights on China

Posted on 04 November 2014 by VRS  |  Email |Print

Slyngstad hopes to broaden the sovereign fund’s asset mix to include infrastructure and private equity amid plunging interest rates. Once a year, the man running the world’s biggest sovereign wealth fund travels around China for a week.
Though assets from that country only make up about 1.5 per cent of the US$860 billion Norwegian wealth fund’s portfolio, Yngve Slyngstad, its chief executive, says almost all investment decisions are affected by what happens in China………………………………………..Full Article: Source

The World’s Largest Wealth Fund Set to Increase its Investments in India

Posted on 04 November 2014 by VRS  |  Email |Print

Norway’s $860 billion Sovereign Fund, also the world’s largest wealth fund, is set to increase its holding of Indian Stocks and Bonds to 0.9% of its fixed-income and equities portfolio.
India’s benchmark S&P BSE has surged over 32% this year with the country emerging as the most promising emerging market for the year. With a majority sweep in the recent elections in the world’s largest democracy, newly elected Prime Minister Narendra Modi has made sure to restore India’s economic growth and make the country a lucrative investment option………………………………………..Full Article: Source

Super Fund defends investment policy

Posted on 04 November 2014 by VRS  |  Email |Print

The New Zealand Superannuation Fund is defending its investment decisions, saying it is putting more money than ever into domestic investments. A Singapore government fund has struck a multi-million dollar deal for a stake in buildings on Auckland’s waterfront, prompting the Property Council to suggest the Superannuation Fund’s focus is offshore and IT should invest more in domestic commercial property.
But the Fund says the amount it has invested in New Zealand grew from $2.4 billion in 2009 to $3.8 billion in September. It says it has a highly disciplined approach to selecting the best investment opportunities for its purpose, which is to maximise long-term returns without undue risk………………………………………..Full Article: Source

Chinese Direct and Financial Outbound Investment

Posted on 03 November 2014 by VRS  |  Email |Print

Precedents for outbound financial investment from China are few, but include China’s sovereign wealth funds. The China Investment Corporation (CIC) has been most visible in this area, investing in a number of foreign assets. Controlled by the Ministry of Finance, CIC is registered as an independent non-bank state-owned enterprise, unlike other sovereign wealth funds.
Although a recent audit revealed losses due to investment in firms such as Blackstone and Morgan Stanley, CIC has learned from its experience and continues to obtain returns abroad. An aggressive strategy implemented in the early years of its operation has been modified to a more moderate strategy based on investment in equities and other assets rather than high-yield assets purchased via absolute return vehicles such as hedge funds………………………………………..Full Article: Source

GIC makes first New Zealand investment, venturing into Auckland’s Viaduct Quarter

Posted on 03 November 2014 by VRS  |  Email |Print

GIC, the Republic’s sovereign wealth fund, is making its first real estate investment in New Zealand, with a joint venture in Auckland initially worth NZ$313 million (S$313 million). GIC will partner with Goodman Property Trust (GMT) to co-invest in Auckland’s Viaduct Quarter. The joint venture, which includes GMT’s existing viaduct property interests, has a mandate to grow to NZ$500 million over time, the two entities said in a joint media release on Monday (Nov 3).
The partnership will initially own a portfolio of assets valued at NZ$313 million, with GIC acquiring a 49 per cent interest in these assets and GMT retaining a 51 per cent share. All future investments will be undertaken on the same basis, according to the media release………………………………………..Full Article: Source

Investcorp and Mumtalakat Acquire PRO Unlimited

Posted on 31 October 2014 by VRS  |  Email |Print

Investcorp , a global provider and manager of alternative investment products, and Mumtalakat, today announced that they have acquired PRO Unlimited, a leading provider of software and services that enable large enterprises to more effectively manage their contingent workforce. Terms of the transaction were not disclosed.
Founded in 1991, PRO Unlimited delivers a full range of services to address procurement, management and compliance issues related to contingent workers, including independent contractors, consultants, temps and freelancers. PRO operates in 52 countries and provides services to some of the world’s largest and most prestigious companies through its integrated, vendor-neutral software and services platform………………………………………..Full Article: Source

ETFs to Play the Largest Wealth Fund’s India Bet

Posted on 31 October 2014 by VRS  |  Email |Print

As the world’s largest wealth fund increases its holdings in India, the average retail investors can also access this emerging market through country-specific exchange traded funds. For example, the PowerShares India Portfolio, iShares MSCI India ET and iShares India 50 ETF all provide access to India’s equities markets.
Norway’s sovereign wealth fund, which holds $860 billion in assets under management, increased holdings “significantly” in India as the recently elected Prime Minister Narendra Modi opens the economy to investments and competition, reports Saleha Mohsin for Bloomberg. The sovereign wealth fund raised its Indian bonds and stock position to 0.9% of its fixed-income and equity portfolio in an attempt to increase its emerging market exposure and generate greater returns………………………………………..Full Article: Source

Abu Dhabi cash injection to help Real Madrid rebuild stadium

Posted on 30 October 2014 by VRS  |  Email |Print

Real Madrid signed a big new player yesterday – and players don’t come much bigger than the International Petroleum Investment Company. Ipic, the Abu Dhabi sovereign wealth fund chaired by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, is the Spanish football club’s new long-term strategic partner.
Both the company and the club are sworn to secrecy on the length and value of the deal, but Ipic’s investment will fund the development of the Santiago Bernabeu, one of the world’s iconic football stadiums. Ipic will provide “commercial means to build the world’s greatest sports venue” and in return Real will promote Abu Dhabi globally, said the Abu Dhabi company’s managing director, Khadem Al Qubaisi………………………………………..Full Article: Source

Sovereign Wealth Funds Flex Their Muscle in Direct Investing

Posted on 29 October 2014 by VRS  |  Email |Print

When Blackstone Group was bidding for human resources software vendor Kronos Inc last year, the firm met an unexpected co-investor: GIC Private Ltd., a sovereign wealth fund from Singapore and a limited partner of Blackstone’s, which wanted to invest alongside Kronos’s prospective buyer.
Blackstone didn’t anticipate GIC’s interest but teamed up with the fund nonetheless, dividing a 44% stake in Kronos between the two. Existing investor Hellman & Friedman remained the majority stakeholder in Kronos………………………………………..Full Article: Source

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

banner
banner
December 2014
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031