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Singapore’s GIC Buys 19.9% of U.S.’s ITC for $1.23 Billion

Posted on 21 April 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC Pte agreed to buy 19.9 percent of ITC Holdings Corp. from Fortis Inc. for $1.23 billion in cash in one of the biggest investments Asian companies have made in U.S. power lines operators.
The transaction allows Fortis to keep an investment-grade credit rating, according to a statement by the three companies on Wednesday. Fortis, Canada’s largest utility owner, agreed in February to buy ITC for $6.9 billion in cash and stock. With Wednesday’s announcement, Fortis has done most of the “heavy lifting” on the financing of the deal, according to Chief Executive Officer Barry Perry………………………………………..Full Article: Source

ICICI Venture raises $190 mn from Temasek, existing investors

Posted on 21 April 2016 by VRS  |  Email |Print

ICICI Venture has raised $190 million (around Rs 1,250 crore) for its fourth private equity fund from Singaporean sovereign fund Temasek Holdings and existing investors to be invested in companies across sectors.
This is the first close for the India Advantage Fund Series 4, under which the PE subsidiary of the country’s largest private sector lender ICICI Bank is targeting to raise $500 million, company sources said. It is a sector-agnostic fund and ICICI Venture will invest up to $25-50 million in each company, they said………………………………………..Full Article: Source

Chinese sovereign fund consortium eyeing Pizza Hut and KFC restaurants in China

Posted on 21 April 2016 by VRS  |  Email |Print

A group of investors comprising sovereign wealth fund China Investment Corp (CIC), KKR & Co and Baring Private Equity Asia is in talks to buy controlling stake in Yum Brands Inc’s China unit, people familiar with the matter said.
Yum Brands, owner of the Pizza Hut and KFC fast food chains, plans to spin off its 6,900 China restaurants by the end of 2016. The China unit accounts for about half of its parent’s total sales and is valued at about US$10 billion, based on its core earnings, bankers and analysts estimate………………………………………..Full Article: Source

Fortis to sell minority stake in ITC to Singapore’s sovereign wealth fund

Posted on 21 April 2016 by VRS  |  Email |Print

Fortis Inc. has signed a deal to help finance its blockbuster US$11.3 billion acquisition of U.S. electric transmission company ITC. The utility company announced Wednesday it has an agreement that will see Singapore’s sovereign wealth fund take a minority stake in ITC Holdings Corp. for US$1.228 billion in cash.
Under the agreement, GIC Private Ltd. will acquire a 19.9 per cent equity interest in ITC Holdings Corp. The ITC deal announced in February would expand Fortis’s holdings in the U.S. and give it access to more than 25,000 kilometres of transmission lines………………………………………..Full Article: Source

China sovereign fund seeks control of Yum China

Posted on 20 April 2016 by VRS  |  Email |Print

A consortium backed by sovereign fund China Investment Corp has expressed interest in buying a majority stake in Yum Brands Inc’s China business, which runs more than 7,100 KFC and Pizza Hut eateries across the country, Bloomberg reported on Tuesday.
KKR & Co, a firm reported to be in the consortium, said in an e-mail to China Daily that it was “unable to comment on market speculation”. The investor group, which also includes Baring Private Equity Asia, is conducting due diligence on the unit, the report said. A deal could value Yum China at $7 billion to $8 billion, Bloomberg quoted unnamed sources as saying………………………………………..Full Article: Source

China sovereign fund to seek majority control of Yum unit

Posted on 19 April 2016 by VRS  |  Email |Print

China Investment Corp, China’s state-owned sovereign wealth fund, is backing a group of investors who have expressed interest in buying a majority stake in Yum Brands Inc’s China unit, Bloomberg reported, citing people with knowledge of the matter.
A deal could value Yum’s China unit at $7 billion to $8 billion, Bloomberg said, citing sources. The investor group also includes KKR & Co LP and Baring Private Equity Asia, the report said………………………………………..Full Article: Source

GIC, S. Korean retail giant team up to build mall

Posted on 19 April 2016 by VRS  |  Email |Print

Sovereign wealth fund GIC and South Korean retail giant Shinsegae have joined hands to develop a prime retail mall in the Incheon Free Economic Zone. Affiliates of the two firms have entered into a US$197 million (S$267 million) sale and purchase agreement for a nearly 60,000 sq m site, centrally located in the international business district of Songdo, GIC said.
The high-tech Songdo district, dubbed the world’s smartest, has been built from scratch on reclaimed land near the Incheon International Airport and has a population of nearly 70,000 residents, mostly families and young couples………………………………………..Full Article: Source

Singapore’s GIC invests in Indonesia’s logistics market with MMP deal

Posted on 18 April 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC has made its first investment in Indonesia’s logistics sector, via its partnership with PT Mega Manunggal Property Tbk to build warehouses in the country. GIC has not disclosed the financial terms of the investment. PT Mega Manunggal Property Tbk is a publicity listed logistics developer.
Its partnership with GIC will see them firms develop a portfolio of quality logistics warehouses of up to 500,000 square metres of net leasable area (NLA) in Indonesia over the next three years, with a focus in the Greater Jakarta region and Greater Surabaya………………………………………..Full Article: Source

South Korea vs. Foreign Investors

Posted on 15 April 2016 by VRS  |  Email |Print

“We will refrain from investing in activist hedge funds,” declared Korea Investment Corp., the sovereign wealth fund, after the public learned that it had placed $50 million with Elliott in 2010.
Regulators at the Financial Services Commission meanwhile honed in on how Elliott built its 7% stake in Samsung C&T. In particular, did its swap agreements with banks, covering just over 2% of the shares, allow it to “park” shares at the banks and dodge the law requiring public disclosure of ownership starting at 5%?……………………………………….Full Article: Source

Key U.S. stocks rule hurting big investors: Norway wealth fund

Posted on 13 April 2016 by VRS  |  Email |Print

A key rule governing the U.S. stock market that effectively forces stock orders to be sent to the exchange displaying the best quoted price is outdated and should be scrapped, said an executive of the world’s largest sovereign wealth fund.
The “order protection rule” was put in place in 2005 as part of a broader framework known as Regulation National Market System and was aimed largely at ensuring mom-and-pop retail investors obtain the best price………………………………………..Full Article: Source

How the Qatar Investment Authority’s economic strategy affects the Western world?

Posted on 12 April 2016 by VRS  |  Email |Print

As reported in Bloomberg news and other venues, Qatar’s government is looking to get involved in the U.S. in a big way. The country’s sovereign wealth fund, the Qatar Investment Authority, has opened a New York office and is aggressively looking to acquire U.S. assets with $35 billion. At the same time, Qatar and its related investors are also spending money in other places around the world, including China and the European Union.
In the midst of all this, many are asking how these relationships will affect Western nations, which traditionally have pushed for democracy around the world. Will EU nations and the U.S. still be as vocal and up front about human rights problems when they are receiving so much money from Gulf states like Qatar?……………………………………….Full Article: Source

Envoy seeks Abu Dhabi funds for British cities

Posted on 12 April 2016 by VRS  |  Email |Print

Jim O’Neill, the Goldman Sachs economist who became a British Treasury minister, completed a doctoral thesis arguing that Opec oil producers did not put their savings to good use. Gulf sovereigns paid scant attention to rates of return, he wrote – and worse, made investment decisions on an “ad hoc basis”.
But now, 23 years later, Mr O’Neill is visiting the UAE to ask its sovereign wealth funds to invest their savings into Britain’s post-industrial northern cities, as part of an infrastructure initiative the UK government calls the “Northern Powerhouse”. The Abu Dhabi Investment Authority (Adia), for example, holds a significant property portfolio in London as well as stakes in hotels and UK utilities………………………………………..Full Article: Source

Saudi Arabian PIF may invest $40 bn more in S. Korean stocks

Posted on 08 April 2016 by VRS  |  Email |Print

South Korean stocks would benefit once a Saudi Arabian sovereign wealth fund increases its assets and adopts a more aggressive investment strategy, according to a Korean brokerage report that expects additional $40 billion from the fund would flow into the South Korean stock market starting as early as next year.
According to KDB Daewoo Securities Co. on Thursday, as the Middle Eastern country has decided to increase its sovereign wealth fund’s assets and adopt an aggressive investment strategy, tens of trillions of won worth money could flow in the Korean stock market from the country’s sovereign fund………………………………………..Full Article: Source

Khazanah frontrunner for stake in Sutures India

Posted on 08 April 2016 by VRS  |  Email |Print

Domestic private equity fund Kedaara Capital and Malaysian sovereign wealth fund Khazanah Nasional Bhd have emerged as likely buyers for a minority stake in surgical equipment maker Sutures India Pvt. Ltd, said two people familiar with the development.
The deal size is expected to be around Rs.400 crore, they said. US-based private equity fund TPG Growth owns 52% in Sutures and CX Partners holds 20%, while the rest is held by the promoters………………………………………..Full Article: Source

Sovereign Wealth And Pension Funds Eye Bigger Bet On Asia And Alternatives

Posted on 08 April 2016 by VRS  |  Email |Print

Faced with a challenging investment environment, central banks, sovereign wealth funds (SWFs) and government pensions are adapting their investment models to be more agile, according to a new research report by State Street Corporation.
After surveying over 100 central banks, sovereign wealth funds and government pensions globally, State Street says these official institutions are diversifying their portfolios and looking at new asset classes and markets. Despite the weakened outlook for growth in China, Asia remains the most attractive region for investment with 89% of Asia-Pacific institutions and 63% of institutions from other regions planning to increase their investments there………………………………………..Full Article: Source

Norway rejects proposal of investing wealth fund in infrastructure

Posted on 06 April 2016 by VRS  |  Email |Print

Norway’s $850-billion sovereign wealth fund, the world’s largest, should not be allowed to invest in unlisted infrastructure projects, the government said on Tuesday in its annual white paper. The central bank, which manages the fund, had recommended that it should be allowed to invest in infrastructure.
The fund currently invests about 60 percent of its value in stocks, 35 percent in bonds and up to five percent in real estate, all outside Norway. In the future, allocations in real estate could rise to 7 percent, the government said………………………………………..Full Article: Source

Tencent, Temasek Joins $45M Round In Logistics Big Data Firm G7

Posted on 06 April 2016 by VRS  |  Email |Print

Chinese logistics big data firm G7 has completed a US$45 million series C+ round of funding from Tencent Holdings Ltd., Singapore’s sovereign wealth fund Temasek Holdings and Eastern Bell Venture Capital, according to Chinese media reports.
The company operates similarly to global competitors such as Navman wireless, Mix, Omnitracs, Telogis and Fleetmatics. It helps logistics companies better manage their fleet of trucks, enabling them to track key data on each vehicle after installing a device that the company calls “wearables for trucks”. G7 says around 200,000 cargo vehicles in China have installed its devices, and claims S.F. Express and DHL as among its customers………………………………………..Full Article: Source

Saudi Arabia plots major takeovers: GBP1.4TRN fund is big enough to buy Apple and Facebook

Posted on 05 April 2016 by VRS  |  Email |Print

Desperate Saudi Arabia is to create a £1.4TRILLION sovereign wealth fund to raise the cash needed to keep its economy afloat amid plunging profits from lower oil prices. The fund would be the largest in the world and could give the country the mechanism to buy - and control - some of the biggest companies in the globe, including Google, Apple and Facebook.
Cash for the fund is set to be raised by privatising state-owned oil company Saudi Aramco. The aim is to generate income from investments and away from oil, as the Kingdom undertakes the biggest economic reforms the country has ever seen. As part of the changes, Saudi is also set to slap citizens with more taxes and increase subsidy cuts………………………………………..Full Article: Source

Norway to tap oil fund to buy Shetland Islands

Posted on 04 April 2016 by VRS  |  Email |Print

Norway will tap into its sovereign wealth fund to purchase the Shetland Islands from the UK, both countries announced on Friday. Neither side was willing to divulge the financial details of the plan, which will see the archipelago return to its Viking roots.
“In our mind, this deal was a no-brainer. Shetland still has strong ties to Norway and with our fertility rate at an all-time low, we could certainly use the population boost,” Norway’s newly-appointed minister of global expansion, Erik Gundersen, said in a statement………………………………………..Full Article: Source

$1 trillion wasted on unneeded coal while Future Fund considers backing Adani

Posted on 01 April 2016 by VRS  |  Email |Print

There is almost $1 trillion in the pipeline for new coal developments, even as the sector is facing structural decline, a new report from The Sierra Club, Greenpeace and CoalSwarm has revealed. And in Australia, as investors back away from Adani’s controversial Galilee Basin coal mine and superannuation companies haemorrhage members’ money on fossil fuel investments, our $118 billion sovereign wealth fund, The Future Fund, is considering bankrolling the project.
There are too many coal plants in the world, but the fossil fuel industry is intent on building more anyway. That’s the contention of a new report released this week by The Sierra Club, Greenpeace and CoalSwarm, which estimates it would cost $981 billion to construct all the proposed coal developments in the world, even as the industry faces what many analysts say is a terminal decline………………………………………..Full Article: Source

Looking for $7.4 Billion in Startup Funding? France Has It

Posted on 01 April 2016 by VRS  |  Email |Print

There’s a 6.5 billion euros ($7.4 billion) funding pot waiting in France for startups and innovative technology companies, the country’s sovereign wealth fund chief said, citing commitments from public and private investors. Originally set up as a sovereign investment fund in 2009, Bpifrance has inherited a portfolio worth 14.8 billion euros spread over companies including Orange SA, funds of funds, and innovative businesses.
That’s enough to cover financing needs for startups over the next three years in the country, Nicolas Dufourcq, the head of Bpifrance SA, told reporters in Paris on Wednesday. “The years 2016, 2017 and even 2018 are very well covered,” he said………………………………………..Full Article: Source

Jaitley asks Australia’s sovereign wealth, pension funds to invest in India

Posted on 31 March 2016 by VRS  |  Email |Print

Promising better returns, Finance Minister Arun Jaitley today invited Australia’s sovereign wealth funds and pension funds to invest in India. During a bilateral meeting with Australian Treasurer Scott Morrison here today, Jaitley sought investments from the Future Fund, Australia’s sovereign wealth fund, as also from the Super Fund, the country’s multi-industry superannuation fund.
Jaitley also called for higher investments by Australian businesses in India, saying they can get better returns on their investments. He also said that India wants to benefit from the Australian experience in implementing GST, saying India is ready for GST rollout as hoped the new indirect taxation regime will soon become a reality………………………………………..Full Article: Source

Samruk Kazyna Buys Shares of KMG Kashagan B.V.

Posted on 30 March 2016 by VRS  |  Email |Print

A deal worth $5.5 million was struck March 9 between Samruk Kazyna Sovereign Wealth Fund and KMG Kashagan B.V. The action followed a corresponding decision made in December by the wealth fund’s board of directors, according to the fund’s letter published March 11 on the Kazakhstan Stock Exchange (KASE) website.
KMG Kashagan B.V. owns 16.88 percent of Kashagan oil and gas field. The deal notification specifies the property which is the subject of the transaction is valued at $5.5 million, or 0.02 percent of Samruk Kazyna’s total assets. KMG Kashagan B.V.’s shares were purchased by advance payment, according to the document………………………………………..Full Article: Source

India invites SWFs to invest in India

Posted on 30 March 2016 by VRS  |  Email |Print

India needs to further ease its business processes to boost investments, Finance Minister Arun Jaitley said Tuesday while inviting foreign sovereign wealth funds to be part of the country’s infrastructure, pension and insurance funds.
He also assured investors here that the government has resolved various legacy issues with regard to taxation and is gradually working to bring down the corporate tax rates to the global level of 25 percent from 30 percent currently………………………………………..Full Article: Source

Sovereign Wealth Descends On China

Posted on 30 March 2016 by VRS  |  Email |Print

Despite economic headwinds, such as a potential for massive job losses in China, foreign public funds continue to want to access thematic institutional investments in Asia’s largest market. Public institutional investors such as sovereign funds have directly invested over US$ 42.97 billion in China (including Hong Kong) from 2013 to the end of 2015, according to SWFI’s Sovereign Wealth Fund Transaction Database.
Sovereign investors such as Singapore’s GIC Private Limited, China Investment Corporation (CIC), Qatar Investment Authority (QIA) and the Kuwait Investment Authority (KIA) actively pursued large-scale opportunities in Chinese real estate and company investments………………………………………..Full Article: Source

KKR, Chinese sovereign wealth fund reportedly hungry for Yum! China investment

Posted on 29 March 2016 by VRS  |  Email |Print

KKR & Co. and sovereign fund China Investment Corp. are among potential suitors studying investments in Yum! Brands Inc.’s Chinese business, people with knowledge of the matter said. Baring Private Equity Asia is also exploring a potential minority stake purchase, and the three funds might decide to team up for a joint investment, according to the people.
Yum is considering the sale of a 20% holding in its Chinese business, which could value the unit around $10 billion, the people said, asking not to be identified as the information is private. CIC’s Beijing press office didn’t immediately respond to an e-mail seeking comment. The Wall Street Journal reported KKR’s interest in a minority stake in Yum China earlier, citing unidentified people………………………………………..Full Article: Source

CPGI, Singapore’s GIC acquire Shakey’s PH

Posted on 29 March 2016 by VRS  |  Email |Print

Local tuna canner Century Pacific Group Inc. (CPGI) has partnered with Singapore’s sovereign wealth fund GIC Private Ltd. to acquire the Philippine franchise holder of US-based popular pizza chain Shakey’s. In a statement, CPGI said it is acquiring International Family Food Services Inc., operator of Shakey’s pizza chain in the Philippines which, in turn, is owned by the Prieto family.
Under the purchase agreement, a new entity to be owned by CPGI and GIC will acquire the majority interest of the pizza business from the Prieto family. The Prieto family, under the deal, will continue to hold a minority stake in Shakey’s………………………………………..Full Article: Source

Singapore’s GIC sovereign fund expects low US stock returns

Posted on 24 March 2016 by VRS  |  Email |Print

GIC expects below-average returns from U.S. stocks over the next five to 10 years, but the Singapore sovereign wealth fund still sees the U.S. as an important source of investment opportunities.
“The greatest strength of the U.S. is the private sector. If that continues to be the case, we are not concerned,” said Lim Chow Kiat, GIC Private Ltd’s chief investment officer. “We find a lot of investment opportunities in the U.S.,” he said. “A lot of exciting things are coming out of the private sector on a daily basis.”……………………………………….Full Article: Source

Danish bank, Norway’s sovereign fund own stakes in Romania’s oil carrier-Report

Posted on 24 March 2016 by VRS  |  Email |Print

The top 10 shareholders of the Romanian oil carrier Conpet Ploiesti include Norway’s sovereign fund, which owns 0.24% of the company, and the largest Danish lender Danske Bank, with a stake of 0.14%, according to the latest reports recorded on Bloomberg.
The Romanian state controls the company through the Energy Ministry, which has a majority stake of 58.7%, and Romanian investment fund Fondul Proprietatea has a 6% stake, reports local Ziarul Financiar. The NN private pension funds have a combined stake of 3.29% in the company and local investment fund SIF Banat-Crisana bought a stake of 1% in the carrier in the third quarter of last year………………………………………..Full Article: Source

Philippines’ Century Pacific, Singapore’s GIC to buy Shakey’s Philippines

Posted on 23 March 2016 by VRS  |  Email |Print

Philippines’ conglomerate Century Pacific Group said on Wednesday it teamed up with Singapore’s sovereign investor GIC to acquire the domestic operator of the Shakey’s Pizza restaurant chain without disclosing financial terms of the deal.
The move to buy the local operation of U.S.-based Shakey’s, with close to 170 stores in the Philippines at end-2015, is the second deal between Century Pacific’s controlling Po family and GIC. In May 2014, the Singaporean fund converted a 3.38 billion pesos ($73 million) loan into a 10 percent stake in Century Pacific Food Inc, the group’s canned goods maker………………………………………..Full Article: Source

Po family, GIC buy Shakey’s pizza chain

Posted on 23 March 2016 by VRS  |  Email |Print

The Po family has teamed up with GIC Private Ltd., the sovereign wealth fund of Singapore, to acquire a controlling stake in the company that owns and operates the Shakey’s pizza parlor chain. The transaction will also include Bakemasters Inc, a supplier of bakery products to Shakey’s and other food service customers, as well as the Philippine franchise for Project Pie, a US artisan pizza restaurant chain, the Po family’s Century Pacific Group Inc. (CPGI) announced on Wednesday.
Under the deal, a new entity to be owned by CPGI and GIC will acquire majority of the pizza business under the holding firm International Family Food Services Inc. (IFFSI) from the Prieto family, which will continue to hold a minority stake in the company………………………………………..Full Article: Source

GIP raises $2.75b for first Australian infrastructure fund

Posted on 23 March 2016 by VRS  |  Email |Print

Global Infrastructure Partners, one of the proposed new owners of Asciano’s Pacific National rail business, has raised around $2.75 billion for its first Australian infrastructure fund to take advantage of rising demand for infrastructure investments. CPPIB has a 33 per cent share of the consortium, while GIP has 27 per cent, according to the scheme implementation deed.
China’s CIC Capital Corporation has 16 per cent, while Singapore sovereign wealth fund GIC and the British Columbia Investment Management Corporation each have 12 per cent stakes………………………………………..Full Article: Source

Qatar sets 5% limit for shareholders of listed banks

Posted on 23 March 2016 by VRS  |  Email |Print

Investors must limit their holdings in publicly-traded banks and financial firms in Qatar to 5 per cent of a company’s capital, or 10 per cent with a central bank waiver, according to regulations published on Monday.
Qatar Investment Authority, the country’s sovereign wealth fund, owns stakes including 51.9 per cent of Qatar National Bank SAQ and 17.4 per cent of Qatar Islamic Bank SAQ, according to data compiled by Bloomberg. Real estate developer Ezdan Holding Group’s assets include 9.9 per cent of QIB and 21.5 per cent of Qatar International Islamic Bank………………………………………..Full Article: Source

Danish bank, Norway’s sovereign fund own stakes in Romanian oil carrier

Posted on 23 March 2016 by VRS  |  Email |Print

The top 10 shareholders of the Romanian oil carrier Conpet Ploiesti include Norway’s sovereign fund, which owns 0.24% of the company, and the largest Danish lender Danske Bank, with a stake of 0.14%, according to the latest reports recorded on Bloomberg.
The Romanian state controls the company through the Energy Ministry, which has a majority stake of 58.7%, and Romanian investment fund Fondul Proprietatea has a 6% stake, reports local Ziarul Financiar………………………………………..Full Article: Source

Saudi Arabia, Egypt to sign $8bn investment deal Sunday

Posted on 22 March 2016 by VRS  |  Email |Print

Saudi Arabia’s sovereign wealth fund, Public Investment Fund PIF) will sign a preliminary agreement Sunday to invest up to 30 billion Saudi riyals ($8 billion) in Egypt’s energy, tourism, and housing sectors. The agreement will be signed by Egyptian Minister of Investment Ashraf Salman.
The planned investments are part of Saudi King Salman’s announcement made last December about the kingdom’s plans to increase investments in Egypt. Public Investment Fund is a sovereign wealth fund of the Government of Saudi Arabia. It seeks to invest through equity, loans or guarantees, and through allocations of public funds to specific projects………………………………………..Full Article: Source

Qatar Doubles Down on Volkswagen

Posted on 22 March 2016 by VRS  |  Email |Print

Qatar Holdings, a branch of Qatar’s sovereign wealth fund and a major investor in Volkswagen, plans to intervene more heavily in the carmaker’s strategy in the wake of the Dieselgate emissions-rigging scandal, Handelsblatt has learned.
According to sources, Qatar, which is VW’s third-largest investor, fears that the works council and the state of Lower Saxony, the latter of which has a 20 percent vote on the company’s board, will prevent real restructuring in the aftermath of the scandal. Chief executive Matthias Müller plans to present a comprehensive new strategy by the summer: it is expected to propose substantial cuts, including job losses and plant closures………………………………………..Full Article: Source

UOB-Temasek JV invests US$5m in e-commerce startups from Southeast Asia

Posted on 22 March 2016 by VRS  |  Email |Print

A joint venture between United Overseas Bank (UOB) and Temasek, InnoVen Capital, on Monday announced it has signed two venture debt financing agreements valued at US$5 million with e-commerce startups in South-east Asia.
In the first quarter this year, InnoVen signed financing deals with Malaysia-based KFit Holdings, an e-commerce health and fitness company, and Thailand-based Pomelo Fashion, an e-commerce fashion company. Both companies will be using the venture debt loans, totalling US$5 million, to develop their business in the region………………………………………..Full Article: Source

Abu Dhabi fund signals committed to Brazilian investments

Posted on 21 March 2016 by VRS  |  Email |Print

Abu Dhabi state fund Mubadala Development signalled on Friday that it was committed to investments in Brazil despite political protests, economic crisis and a graft probe there. Mubadala has opened an office in Rio de Janeiro to manage and grow its Brazilian assets after restructuring a $2 billion investment in collapsed EBX Group, the fund said in a statement.
The Abu Dhabi fund launched the restructuring in early 2013 as EBX, a group controlled by former Brazilian billionaire Eike Batista, ran into severe financial difficulties. Under the restructuring, the Abu Dhabi fund received $300 million in cash plus equity stakes in former EBX companies and other international assets, Mubadala said on Friday, adding that the total value of those assets exceeded the amount of the original investment………………………………………..Full Article: Source

Olam eyes potential of Africa’s growing demand

Posted on 17 March 2016 by VRS  |  Email |Print

Olam International, one of the world’s largest food traders, is seeking more investments in Africa as it looks to benefit from the continent’s increasing appetite for everything from instant noodles to lollipops.
The agribusiness giant controlled by Temasek Holdings is already established in 24 sub-Saharan countries. It aims to expand its market share across a continent rich in agricultural resources including coffee and cocoa………………………………………..Full Article: Source

Asciano backs US$6.8b takeover

Posted on 16 March 2016 by VRS  |  Email |Print

Astralian logistics giant Asciano said it was recommending a US$6.8 billion takeover deal between two rival local and international suitors, breaking up the company’s ports and rail assets. Yesterday’s announcement ended a bidding war for Asciano between a consortium led by Canada’s Brookfield Infrastructure Group and a group led by Australia’s Qube that includes a Chinese sovereign wealth fund.
Qube will split the ports business with Brookfield, whose consortium members include government wealth fund the Qatar Investment Authority. Another grouping, which includes China’s CIC Capital Corp, Singapore’s state investment fund GIC, the Canada Pension Plan Investment Board, investment group Global Infrastructure Partners, and the British Columbia Investment Management Corp, will acquire the rail operations………………………………………..Full Article: Source

Alibaba Logistics Arm’s Funding from Temasek, GIC to Be Used for Expansion

Posted on 16 March 2016 by VRS  |  Email |Print

Cainiao, logistics arm of Alibaba Group Holding Ltd., has received funding from investors in Malaysia and Singapore, including Temasek Holdings Pte, in its first round of external fundraising. It intends to use the fund to bankroll expansion, China Daily reported.
In a statement issued on Monday, March 14, Zhejiang Cainiao Supply Chain Management Co. said that global investment firm GIC Pte also invested in the company, as well as sovereign wealth fund Khazanah Nasional Bhd, which is expected to subsidize its expansion. ……………………………………….Full Article: Source

Alibaba Affiliate Cainiao Attracts GIC, Temasek as Investors

Posted on 15 March 2016 by VRS  |  Email |Print

Alibaba Group Holding Ltd.’s delivery affiliate attracted investments from Malaysia and Singapore, including Temasek Holdings Pte, in its first round of external fundraising since its creation in 2013.
Zhejiang Cainiao Supply Chain Management Co. also gained funding from GIC Pte. and Khazanah Nasional Bhd to bankroll its expansion, according to an e-mailed statement on Monday. The company didn’t specify the amount raised or its valuation………………………………………..Full Article: Source

Sovereign wealth funds to invest $50 bn in India’s infra

Posted on 15 March 2016 by VRS  |  Email |Print

Global pension funds and sovereign wealth funds may invest up to $50 billion in India’s infrastructure sector over the next five years, a report by investment bank Ambit Corporate Finance and the UK’s City of London said.
The estimate comes at a time when long-term global investors are looking to invest in new geographies and promoters of many infrastructure companies are looking to sell assets. India has attracted the attention of sovereign wealth funds, global pension funds and insurance firms looking for a majority stake in operational infrastructure assets. Such investors could come to the rescue of Indian firms struggling with huge debts and a liquidity crunch………………………………………..Full Article: Source

We’ll Invest MORE if Britain Leaves EU, Says World’s Largest Sovereign Wealth Fund

Posted on 14 March 2016 by VRS  |  Email |Print

The boss of the world’s biggest sovereign wealth fund said it would invest even more in the UK if it votes to leave the European Union (EU). Yngve Slyngstad, chief executive of Norway’s £884bn fund, dismissed claims by the British government that a Brexit would harm investment.
He told Reuters: “We will continue to be a significant investor in the UK at about the same level as we are today and probably even increasing our investments there no matter what happens. All changes entail some risk but we would not categorize it as a significant risk.”……………………………………….Full Article: Source

Norway’s oil fund doubles investment in Lithuanian government bonds in 2015

Posted on 11 March 2016 by VRS  |  Email |Print

Norway’s government pension fund, which is often referred to as the Norwegian oil fund and is one of the biggest global institutional investors, last year doubled its investment in Lithuania’s government securities but reduced its shareholding in Lithuanian-owned aircraft leasing, management and trading company AviaAM Leasing, Norges Bank Investment Management (NBIM), the manager of the fund, said.
The fund’s investment in Lithuania’s government securities amounted to nearly 1.661 billion Norwegian kroner (EUR 176.8 mln) at the end of 2015, up from 711 million kroner (EUR 75.7 mln) a year before………………………………………..Full Article: Source

Norway Wealth Fund Keeps Buying as Struggling Petro-States Sell

Posted on 10 March 2016 by VRS  |  Email |Print

Norway will remain a bulwark against global stock declines as its sovereign wealth fund, the world’s biggest, proves to be an odd-ball among oil-built investment vehicles. “There’s been a lot of writing about oil-based sovereign wealth funds selling assets. Well, as a matter of fact, we have actually been net buying assets this year,” Yngve Slyngstad, CEO of the $830 billion fund, said in an interview in Oslo.
And the buying probably won’t stop soon. Unlike wealth funds in the Middle East and central Asia, Norway doesn’t foresee a need to sell assets, even as the government starts withdrawing money from its massive piggy bank to plug budget holes exacerbated by collapsing crude prices………………………………………..Full Article: Source

Norway’s $830 bn sovereign wealth fund to continue investments in UK

Posted on 10 March 2016 by VRS  |  Email |Print

Norway’s $830 billion sovereign wealth fund, the world’s largest, does not see the prospect of Britain leaving the European Union as a significant risk to its investments, its chief executive has said. Britain is the fund’s second-largest country holding after the US, representing 10.2 percent of its total value at end-2015. It made its first-ever property deal by buying a stake in London’s Regent Street in 2011.
“We will continue to be a significant investor in the UK at about the same level as we are today and probably even increasing our investments there going forward no matter what happens,” Yngve Slyngstad, CEO of Norges Bank Investment Management, told Reuters in an interview………………………………………..Full Article: Source

Norway Wealth Fund Isn’t Joining Global Stock Selloff, CEO Says

Posted on 10 March 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund, the world’s biggest, hasn’t been part of a global selloff in stocks this quarter, according to its chief executive officer, Yngve Slyngstad. “We have not been participating in the selling, and we don’t foresee” that a change of strategy will be necessary, Slyngstad said at a presentation of the fund’s 2015 results on Wednesday in Oslo.
The comments follow evidence that wealth funds across the Middle East and central Asia have sold assets to plug deficits amid plunging oil prices. Speculation that petrodollar-stocked wealth funds were exiting assets has fed into market turmoil as stocks sank this quarter. The MSCI World Index is down more than 4 percent since the end of December………………………………………..Full Article: Source

Rare Glimpse Into Norwegian Fund Shows Shift From Large Stakes

Posted on 10 March 2016 by VRS  |  Email |Print

Disclosures by Norway’s $877 billion oil fund offer an unusually detailed view of its workings. Norway’s $877 billion sovereign-wealth fund, the world’s largest, said on Wednesday that it held fewer large equity stakes at the end of 2015 than a year earlier, due to a gradual shift away from Europe and a transfer of equity assets into its real-estate portfolio.
Norges Bank Investment Management, or NBIM, which manages the fund, said it held stakes exceeding 5% in 29 companies at the end of 2015, down from 57 companies a year earlier. It held stakes exceeding 2% in 1,074 companies, down from 1,205 companies a year earlier………………………………………..Full Article: Source

SOFAZ reveals investment volume for new rig construction

Posted on 10 March 2016 by VRS  |  Email |Print

Roughly $696.1 million has been allocated since the beginning of construction to finance the construction of a new generation drilling rig in Azerbaijan, Azerbaijan’s state oil fund SOFAZ told Trend. “Some $287.6 million has been allocated for this project in 2015,” SOFAZ said.
The cost of the drilling rig construction project is $1.116.7 billion. SOFAZ is the owner of 90 percent of the equity in “Azerbaijan Rigs” LTD, established for the construction of a new platform. The remaining 10 percent of a share in the company are owned by SOCAR………………………………………..Full Article: Source

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