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Sovereign Wealth Funds Briefing - Category | Alternative Investments more

Singapore Wealth Fund Selling Trophy Miami Golf Property

Posted on 02 June 2014 by VRS  |  Email |Print

GIC, a Singapore-based sovereign wealth fund, is now planning to sell the Great White Course, one of five championship golf courses in Doral, located adjacent to the Trump National Doral Resort and Spa in Miami.
The 130-acre offering known as “Doral White” is being positioned as an unparalleled opportunity for a developer to build a massive, mixed-use community from the ground up at a “Main and Main” location in one of the country’s fastest-growing suburbs…………………………………..Full Article: Source

Norwegian Sovereign Wealth Fund Sets Eye on Asia Real Estate Market

Posted on 29 May 2014 by VRS  |  Email |Print

Since the fund got the permission to enter the property market in 2010, it has performed well with a high return. The fund owns properties in Times Square and the Champs Elysees and is thinking to expand the investment globally.
To “reduce the probability of making really big mistakes,” Kallevig said to Bloomberg that the fund is looking to invest in Washington, San Francisco, New York and Boston. In Europe, it’s targeting London, Paris, Munich and Berlin, he said. No specific cities in Asia were mentioned. But its efforts to enter Asia are about to intensify, said Kallevig. The fund will pick two cities in Asia and the selection will use the same criteria as it has used in Europe and the US………………………………………..Full Article: Source

Norway’s sovereign wealth fund eyes Asia’s property market

Posted on 26 May 2014 by VRS  |  Email |Print

Norway’s USD860bn wealth fund, the world’s biggest sovereign wealth fund, is beefing up efforts to enter Asia as part of its expansion into the property market around the world. Karsten Kallevig, who heads the real estate team for Norges Bank Investment Management, said that as the fund’s push into Asia takes shape, the fund will narrow its focus to two cities.
The entry will be based on the same criteria it has used in Europe and the US, tapping cities with the best growth potential and where there are supply constraints, Kallevig said. The fund’s property portfolio now stands at USD10bn and that could grow to more than USD61bn by 2020, said Kallevig………………………………………..Full Article: Source

Qatar fund may finance Vornado tower

Posted on 23 May 2014 by VRS  |  Email |Print

Vornado Realty Trust is in close talks with a Qatar sovereign-wealth fund to finance its planned condo tower on Central Park South. The Qatar Investment Authority would provide hundreds of millions of dollars to finance the 950-foot tower, according to The Wall Street Journal.
The real estate investment trust has reportedly spent about $510 million on the site so far. It has been looking to construct the tower without having to put more of its own money into the project and this deal will help the company meet that goal. The sovereign Arab emirate has shown great interest in New York City real estate in recent months. Earlier this year, the government of Qatar bought a townhouse at 19 E. 64th St. for $100 million. It plans to set up its New York consulate there………………………………………Full Article: Source

Norway SWF Lobbies for Private Equity and Infrastructure

Posted on 23 May 2014 by VRS  |  Email |Print

The world’s biggest sovereign wealth fund, the Norway Pension Fund—Global, is seeking to diversify into private equity and infrastructure.The fund is lobbying the Norwegian government to allow it to allocate a portion of its $860 billion portfolio into the two asset classes, according to Bloomberg. It currently holds predominantly equities and fixed income, as well as a 5% position in real estate, overseen by Karsten Kallevig, CIO for real estate.
A spokesperson for the Norway Pension Fund could not be reached for comment at the time of going to press………………………………………Full Article: Source

Oil Fund of Azerbaijan can buy gold for at least $561 million more

Posted on 21 May 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) can buy gold for at least $560.995 million more. According to the Fund, as of April 1, its gold assets totaled $1.256 bn that was equivalent to 3.5% of its investment portfolio ($36.343 bn).
Investment rules allow the Fund to invest up to 5% of its portfolio ($1.817 bn as of April 1) into gold. As of reporting date, SOFAZ had gold assets in amount of 30.175 tons (970.146 ounces)…………………………………Full Article: Source

Alaska Permanent Fund Calls for Less Aggressive Private Equity Pacing Plan

Posted on 21 May 2014 by VRS  |  Email |Print

The Alaska Permanent Fund Corp. wants to cut its commitments to private equity in the fiscal year beginning July 1, dialing down the target amount slated for commitments to $800 million from the $1.23 billion a year earlier .
The $48.8 billion state fund’s views on private equity have tempered amid anxieties that a record amount of dry powder awaiting deployment will crowd out returns………………………………..Full Article: Source

Dymon, Temasek In Seeding Deal

Posted on 13 May 2014 by VRS  |  Email |Print

Temasek Holdings has committed an initial US$500 million (S$625 million) to start a hedge fund seeding venture with Singapore-based asset manager Dymon Asia Capital, at a time when the Asian industry is starting to recover after six years of sluggish growth.
Temasek will become a minority stakeholder in Dymon as a result of the arrangement, the hedge fund said in a statement. Dymon president Jay Luo and managing director Ben Freischmidt will lead the new venture. The capital will be used to seed new strategies and fund managers, and manage all non-investment functions to allow managers to focus on their trading activities………………………………………..Full Article: Source

Temasek Invests in Dymon Asia to Start Hedge-Fund Platform

Posted on 12 May 2014 by VRS  |  Email |Print

Temasek Holdings Pte, the Singapore state-owned investment company, will start a venture with Dymon Asia Capital (Singapore) Pte to back new hedge fund managers and strategies as it becomes a minority stakeholder in the firm.
Temasek committed $500 million initially that will be managed by Dymon, a hedge-fund manager based in the island-state, according to Dymon President Jay Luo. Luo and Dymon Managing Director Ben Freischmidt will be leading the new venture for Dymon, according to an e-mailed statement………………………………………..Full Article: Source

Dymon gets $500 mln from Temasek to seed hedge funds

Posted on 12 May 2014 by VRS  |  Email |Print

Singapore-based asset manager Dymon Asia Capital has received commitment worth $500 million from Temasek Holdings to jointly invest in hedge funds, Dymon said in a statement on Monday.
The first investment from the venture will be in Port Meadow Fund to be managed by SAC Capital portfolio manager Carl Vine. The long/short equity hedge fund is expected to be launched in the second quarter. The new seeding venture is led by Dymon President Jay Luo and Managing Director Ben Freischmidt………………………………………..Full Article: Source

Asian banks snap up prime office space in Central

Posted on 12 May 2014 by VRS  |  Email |Print

Singapore’s United Overseas Bank (UOB) recently signed a new lease to occupy more than 30,000 sq ft in Citibank Plaza at 3 Garden Road in Central, one of the biggest office complexes in the city, according to property agents familiar with the deal. The floor to be taken by UOB used to be office space for a major American bank in Hong Kong.
UOB is not alone in the latest wave of financial industry competition for top-end office space in the city. China Securities (International), a mainland brokerage partly owned by China Investment Corp - the mainland’s sovereign wealth fund - recently expanded its Hong Kong office at Two Exchange Square in Central from the existing 6,602 sq ft to the entire floor of about 13,000 sq ft, property agents said………………………………………..Full Article: Source

Sovereign Wealth Funds Are Shaking Up the European Real Estate Market

Posted on 12 May 2014 by VRS  |  Email |Print

Over the past year sovereign funds have been snapping up prime properties in
London and have begun to make inroads into Europe - a wave of activity that’saccelerating. In December, Singaporean sovereign wealth fund GIC purchased a 50 percent stake in Broadgate, a sprawling office complex on the edge of the City of London financial district, for GBP 1.7 billion, in one of 2013’s biggest deals.

And in January of this year, China Investment Corp., a $650 billion sovereign wealth fund, shelled out GBP 800 million for Chiswick Park, a 33-acre (13-hectare)office park in West London………………………………………..Full Article: Source

Khazanah to take stake in Philippine developer

Posted on 02 May 2014 by VRS  |  Email |Print

Malaysian sovereign wealth fund Khazanah Nasional will invest RM215 million (S$82.5 million) in 8990 Holdings, a mass housing developer in the Philippines. This would be the agency’s first foray into the South-east Asian country.
In a statement yesterday, the wealth fund said that its special-purpose vehicle, Pasir Salak Investments, had entered into a cornerstone investment agreement for 8990’s upcoming share offering. Under the agreement, Khazanah would take up an 8 per cent interest in the company, allowing it to gain exposure to the country’s ”growth story”………………………………………..Full Article: Source

Khazanah buys 8pct stake in Philippines’ mass housing developer for RM215mln

Posted on 30 April 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd has agreed to be a cornerstone investor in Philippine-listed mass housing developer 8990 Holdings Inc, paying 2.93bil pesos (RM215mil) for an 8% stake. This is its first investment into a Filipino company.
The sovereign wealth fund said it had signed a cornerstone investment agreement, via special purpose vehicle Pasir Salak Investments Ltd, for 8990’s upcoming follow-on share offering. According to Khazanah, 8990 Holdings caters to the low-income group with homes priced between RM33,000 and RM92,000 in districts such as Cebu, Davao, Iloilo, Cavite and Pampanga………………………………………..Full Article: Source

Malaysia’s Khazanah Nasional agrees to invest in Philippines’ 8990 Holdings

Posted on 29 April 2014 by VRS  |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd said late Monday it will buy an 8% stake in Philippine property developer 8990 Holdings Inc. for 2.93 billion Philippine pesos ($65.87 million). The investment marks Khazanah’s first foray into the Southeast Asian nation.
As part of the deal, Khazanah agreed to be a cornerstone investor for 8990 Holdings’ upcoming share offering, Khazanah said in a statement. 8990 Holdings, which is already listed on the Philippine Stock Exchange, is making a follow-on share offering to raise funds for expansion………………………………………..Full Article: Source

Angola sovereign wealth fund starts hotel, infrastructure pools

Posted on 25 April 2014 by VRS  |  Email |Print

The Fundo Soberano de Angola, the $5 billion sovereign wealth fund of Africa’s second-largest oil producer, is starting investments in hotels and commercial infrastructure in sub-Saharan Africa. The fund, based in Luanda, may invest in 50 sub-Saharan African hotels over three years, including in its home country, Chairman Jose Filomeno dos Santos said in an interview in Hong Kong.
In addition to the hotel fund, it is also setting up an infrastructure fund that will participate in projects including ports, airports and power plants, added the 36-year-old eldest son of the nation’s President Jose Eduardo dos Santos………………………………………..Full Article: Source

Angola to put sovereign funds toward commercial property investment

Posted on 25 April 2014 by VRS  |  Email |Print

Angola’s Sovereign Fund, which was set up with initial capital of U.S. $5 billion, plans to start investing in hotels and commercial facilities in sub-Saharan Africa, its chairman José Filomeno dos Santos said.
Speaking to financial news agency Bloomberg in Hong Kong, dos Santos said that the Fund may invest in 50 hotel units in sub-Saharan African countries, including Angola………………………………………..Full Article: Source

South Korea’s state fund plans to double alternative investments

Posted on 24 April 2014 by VRS  |  Email |Print

Korea Investment Corp., the nation’s $72 billion sovereign wealth fund, plans to double alternative investments over the next 10 years to compensate for declining returns from stocks and bonds.
“We’ll have to embrace the lower return expectation from traditional assets and that will continue for a considerable period,” Choo Heung Sik, 56, the chief investment officer of the state fund, known as KIC, said in an interview in Seoul on April 21. “Considering such an environment, expanding into alternatives is one of the most efficient way to protect yield in the mid-to-longer term.”……………………………………….Full Article: Source

Sovereign wealth funds eyeing alternative investments: Pro (Video)

Posted on 24 April 2014 by VRS  |  Email |Print

Rod Ringrow, senior executive officer at State Street, says sovereign wealth funds are looking at long-term alternative investments.……………………………………….Full Article: Source

Property gains drove 2012-13 profits for Malaysia state investor 1MDB accounts

Posted on 23 April 2014 by VRS  |  Email |Print

Malaysian state investment fund 1Malaysia Development Bhd (1MDB) relied on a sharp revaluation of its property assets to drive profit growth in its last financial year, accounts released today showed. The improvement came despite 1MDB paying more than RM10 billion to buy power businesses in the past two years.
1MDB, whose board of advisers is chaired by Prime Minister Najib Razak and which has been criticised for a lack of transparency, last week reported a net profit of RM778 million for the year through March 2013, up from RM44.7 million the previous year……………………………………….Full Article: Source

RRJ, Temasek’s fund invest $250 mln in Chinese developer

Posted on 11 April 2014 by VRS  |  Email |Print

RRJ Capital Ltd., run by Charles Ong, and a fund owned by his former employer, Temasek Holdings Pte, have invested $250 million in Chinese logistics warehouse developer Shanghai Yupei Group Co.
The investment follows a $200 million stake purchase by the Carlyle Group and Townsend Group in August and completes the company’s equity financing needs for the foreseeable future, Yupei said in a press release yesterday. Temasek is Singapore’s state-owned investment company………………………………………..Full Article: Source

It’s official: Temasek spins off PE holdings into Astrea II

Posted on 11 April 2014 by VRS  |  Email |Print

Temasek Holdings, the investment arm of Singapore government, has launched a new co-investment vehicle, Astrea II. The $215-billion fund will hive off part of its holdings into this new vehicle to enable participation by wider set of investors.
The new vehicle will have holdings in 36 private equity funds across geographies, sectors and vintages. With Temasek as the single largest investor at 38 per cent, Astrea II will be managed by ARDIAN, a global private investment company and leading secondary fund manager………………………………………..Full Article: Source

Alvin Jiang, the princeling of private equity

Posted on 11 April 2014 by VRS  |  Email |Print

The 28-year-old wears black-framed glasses perched on cheeks still round with youth. A discerning eye might notice the resemblance to his grandfather: former Chinese president and Communist Party leader Jiang Zemin.
Alvin Jiang has a knack for landing lucrative deals in China, the world’s biggest emerging market for private equity. He is a founding partner at Hong Kong-based Boyu Capital, now one of the hottest firms in China. Boyu has attracted high-profile investors such as Asia’s richest man, Li Ka-shing, and Singapore’s sovereign wealth fund, Temasek Holdings Private Limited……………………………………….Full Article: Source

GIC to buy Tokyo property for $1.3 bln from Lone Star-sources

Posted on 10 April 2014 by VRS  |  Email |Print

Singapore sovereign wealth fund GIC will buy a Tokyo property from US investment fund Lone Star Funds for about 134 billion yen (S$1.6 billion), the highest price since Japan’s real estate market recovery accelerated last year, people with direct knowledge of the sale told Reuters.
Lone Star had put up the property, called Meguro Gajoen, for auction late last year for at least 96 billion yen. The property comprises a complex of office towers, with the Japanese unit of Amazon.com its main tenant. GIC was chosen from three final bidders, which included a consortium of New York-based real estate investment firm Aetos Capital Real Estate and China’s sovereign fund China Investment Corp, two of the people said………………………………………..Full Article: Source

Temasek sets up private-equity investment vehicle Astrea II

Posted on 10 April 2014 by VRS  |  Email |Print

Singapore investment company Temasek has launched a new co-investment vehicle, Astrea II, which has broadly diversified holdings in 36 private equity funds.This is the latest of Temasek’s continuing efforts to develop co-investment platforms where diversified portfolios of assets can be made available to a broader base of investors, including retail investors in the long term.
It is the single largest investor in Astrea II at 38 per cent. Mr Dilhan Pillay Sandrasegara, Head of Enterprise Development Group in Temasek, said, “Temasek continues to be an active investor in high quality private equity or PE funds globally. These investments have created value for us in the form of direct returns, as well as opportunities for us to make further direct investments alongside the PE fund managers.”……………………………………….Full Article: Source

Temasek spins off selected investments into special-purpose vehicle

Posted on 10 April 2014 by VRS  |  Email |Print

Temasek Holdings is securitising more of its investments into a special-purpose vehicle to reach a broader base of investors, including retail investors, over the longer term. The Singapore investment firm has launched Astrea II, a co-investment vehicle with broadly diversified holdings in 36 private equity funds.
The name refers to Astrea, the first special-purpose vehicle through which it securitised some of its investments in private equity and venture capital funds in 2006………………………………………..Full Article: Source

Temasek private equity arm backs Southeast Asia cab booking app

Posted on 09 April 2014 by VRS  |  Email |Print

A unit of Singapore state investor Temasek Holdings is putting its substantial clout behind an app that eases the pain of booking taxis in Singapore and Malaysia, aiming to expand the service in other busy Southeast Asian cities.
Vertex Venture Holdings, a $1.2 billion venture capital firm that focuses on emerging companies and funds in Asia and the United States, said on Tuesday it was leading a group of mostly Malaysian investors putting an unspecified “eight-figure sum” into smartphone app company GrabTaxi………………………………………..Full Article: Source

Biggest wealth fund put on review for move to new asset classes

Posted on 08 April 2014 by VRS  |  Email |Print

Norway will wait to see whether real estate investments by its $850 billion sovereign wealth fund pay off before considering new asset classes including infrastructure and private equity.
“Whether we do it next year or the year after, that hasn’t been decided,” Paal Bjoernestad, state secretary in charge of the fund at the Finance Ministry, said in an April 4 interview. “We will come back to it — it’s not off the table.”……………………………………….Full Article: Source

SOFAZ to keep searching for real estate in Asia

Posted on 07 April 2014 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ is planning to continue searching for commercially attractive real estate in Asia. “It’s not yet certain whether SOFAZ will manage to complete the investment policy in East and South-East Asia by purchasing Pine Avenue Tower A worth $447 million in Seoul,” SOFAZ said. “It is difficult to reveal and examine the economically attractive real estate in this region, but SOFAZ will continue going ahead in this direction,” the company added.
SOFAZ, an entity that accumulates and manages Azerbaijan’s oil and gas revenues, said earlier that it can spend about $1 billion to purchase real estate in Asia and Australia. Almost a half of the claimed investments have been already made in the purchase of real estate in Seoul………………………………………..Full Article: Source

SOFAZ acquires office block in S.Korea for $447 mln

Posted on 03 April 2014 by VRS  |  Email |Print

Azerbaijan’s state oil fund (SOFAZ) has acquired an office complex in the South Korean capital Seoul for $447 million, the fund said on Tuesday, as it further diversifies a broad portfolio of foreign assets.
Increasingly wealthy Azerbaijan’s $34 billion fund holds the proceeds from oil contracts, oil and gas sales, transit fees and other revenues, and uses the returns on its investments to help pay for social spending and infrastructure projects. The 65,000 square-metre Pine Avenue Tower A, in Seoul is the fund’s first acquisition in the Asia Pacific region…………………………….Full Article: Source

Azerbaijani State Oil Fund purchases real estate in South Korea

Posted on 02 April 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has acquired prime office complex, Pine Avenue Tower A in Seoul, South Korea for USD 447 million, a message from the Fund said on April 1.
The purchase of the property has been realised through a competitive auction process organized by Mirae Asset Management on behalf of the four owners (NongHyup Bank, NongHyup Life insurance, Woori Bank and KDB Life Insurance)……………………………..Full Article: Source

Middle East funds breathe new life into European property market

Posted on 24 March 2014 by VRS  |  Email |Print

Middle East funds are helping to drive European commercial property yields lower as they join a rush of international investors snapping up real estate on the continent. Last year about €165.6 billion (Dh838.99bn) of deals were transacted across the continent – a 30 per cent rise on 2012.
The news comes amid a flurry of property investment deals from Middle Eastern sovereign wealth funds in Europe. They completed seven major direct property deals worth a total of US$5.6bn last year, the largest of which was the Kuwait Investment Authority’s $2.7bn deal to buy the 5.2-hectare More London office and restaurant complex near London Bridge………………………………………..Full Article: Source

Qatari Diar to open American regional office

Posted on 13 March 2014 by VRS  |  Email |Print

Qatari Diar Real Estate Investment Company of Qatar Investment Authority is to open a regional office in Washington D.C. to pursue new strategic investments throughout the western hemisphere.
The office will be located in City Center D.C. complex, Qatari Diar ’s flagship North American development currently nearing completion in conjunction with Hines. Designed by Foster + Partners, City Center D.C. is a 148,000sqm urban redevelopment programme in the heart of downtown Washington D.C………………………………………..Full Article: Source

Unitech to raise Rs 1000 cr in next few months to repay debt

Posted on 12 March 2014 by VRS  |  Email |Print

Real estate player Unitech plans to raise Rs 1000 crore in the next few months from sale of non-core assets for repayment of its debt. According to people close to the development, the company has already sold 11 acres of non-coreland parcels in Bangalore and Mysore for about Rs 130 crore.
Unitech Corporate Parks, a Unitech group firm listed in London, has been negotiating with private equity firm Blackstone and Singapore’s sovereign wealth fund GI Cover the past few months to sell its IT SEZ in Gurgaon for about Rs 2,700crore………………………………………..Full Article: Source

Firms from China to join individuals in new phase of outbound property investment

Posted on 12 March 2014 by VRS  |  Email |Print

Sovereign wealth funds are key participants around the world in cross-border real estate investment. To date, the China Investment Corporation (CIC) has been the mainland’s most active sovereign fund cross-border real estate investor.
In the new phase of outbound real estate investment, China’s State Administration of Foreign Exchange (SAFE) and the National Social Security Fund (NSSF) will likely join the CIC as active players and may bring to the table substantial capital to deploy into global real estate and real estate funds………………………………………..Full Article: Source

SMSFs not over-investing in property

Posted on 11 March 2014 by VRS  |  Email |Print

Assistant Treasurer Arthur Sinodinos has said he does not believe SMSFs are doing “too much” property investing, reports SMSF Adviser. During a speaking engagement at the ANZ Central Bank and Sovereign Wealth Fund Conference in Sydney last month, Senator Sinodinos discussed the ongoing public speculation regarding SMSFs and property investment.
“Our superannuation pool now is about $1.6 trillion,” Sinodinos said. “One third of that is held through self-managed super funds, with one, two, three, or four people acting as trustees for their own superannuation fund.”……………………………………….Full Article: Source

Sovereign wealth fund demand for U.S. properties picks up

Posted on 11 March 2014 by VRS  |  Email |Print

Commercial real estate investment sales topped $355 billion last year, a 19 percent hike over 2012 and the highest dollar volume since the financial crash in 2008, according to New York-based research firm Real Capital Analytics.
The firm expects 2014 volume to approach $400 billion, rivaling the dollar volume levels in 2004 and 2005. And within that, endowment funds and, in particular, sovereign wealth funds, keep ratcheting up their appetites for U.S. assets in a search for yield……………………………………….Full Article: Source

Alaska Permanent Fund Corporation makes European property debut

Posted on 10 March 2014 by VRS  |  Email |Print

Alaska’s Permanent Fund Corporation has mandated LaSalle Investment Management to invest £250m (€304m) in UK property. The fund will seek investments between £50m and £150m, LaSalle said.
All commercial real estate sectors, including mixed-use property, will be considered. The move by Alaska is the first time it has considered European commercial real estate………………………………………..Full Article: Source

GLP agrees to pay $1.36 bln for real estate assets in Brazil

Posted on 06 March 2014 by VRS  |  Email |Print

Global Logistic Properties Ltd. (GLP), the real estate development firm partly owned by Singapore’s sovereign-wealth fund, agreed to pay BR Properties SA (BRPR3) 3.18 billion reais ($1.36 billion) for assets in Brazil.
GLP is buying 34 industrial and logistic sheds, according to a regulatory filing today by Sao Paulo-based BR Properties, which said it will use the proceeds to reduce debt. The deal depends on approval from antitrust regulators………………………………………..Full Article: Source

Norway oil fund sets sights on more real estate

Posted on 04 March 2014 by VRS  |  Email |Print

The Government Pension Fund Global saw 16% return in 2013, driven by equities gaining 26.3% while fixed income didn’t budge; real estate is a growth area. Norway’s state oil fund is looking to follow up its successful shift into equities by “substantially” increasing its real estate investments in the coming years, the head of the Norges Bank Investment Management said at a presentation of the fund’s annual report on Friday.
The comments, which followed those made a couple of days earlier by the fund’s head of equities that it was recruiting actively in a bid to double the size of its 90-strong equity team, comes as a zero return on traditional fixed income assets continued to depress overall profits in 2013………………………………………..Full Article: Source

Investments in real estate return 11.8 pct for Norway’s wealth fund

Posted on 03 March 2014 by VRS  |  Email |Print

Real estate investments returned 11.8 percent for Norway’s $840 billion sovereign wealth fund in 2013, the fund’s manager announced.
In the fund’s second-best year ever, the Government Pension Fund Global returned 15.9 percent, or $115 billion, overall, according to the Norges Bank Investment Management. The fund’s equity investments returned 26.3 percent, while fixed-income investments returned 0.1 percent………………………………………..Full Article: Source

Private equity and SWF investments rising in MENA

Posted on 21 February 2014 by VRS  |  Email |Print

Private equity and sovereign wealth fund (SWF) investments in the MENA region are strongly rebounding aided by the improved confidence in the regional economy, according to a report by Ernst & Young (EY).
Out of 442 deals announced in the MENA region during 2013, SWFs were involved in 19 deals with a deal value of $14.5 billion. This makes SWFs the single largest buyer constituency in MENA, contributing to 29 per cent of overall deal values………………………………………..Full Article: Source

Oil prices push sovereign wealth funds toward alternative investments

Posted on 21 February 2014 by VRS  |  Email |Print

A number of sovereign wealth funds (SWFs) dependent on oil have been facing up to the twin threats of declining traditional asset values and flatlining oil prices, leading many of them to realize that the time to consider alternative investments might be here.
While oil was at its peak in 2009 at $140 per barrel, the flow of funds into oil-based SWFs grew significantly. During the past few years, however, this flow has been halted, as oil prices hover around $100 a barrel, proving irksome to SWFs of countries, states and provinces reliant on the commodity………………………………………..Full Article: Source

1MDB to sell $729mln sukuk

Posted on 19 February 2014 by VRS  |  Email |Print

Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB) plans to sell 2.4bn ringgit ($728.49mn) worth of Islamic bonds to finance the relocation of defence units from land marked for government development project Bandar Malaysia.
Bandar Malaysia Sdn Bhd, a unit of 1MDB Real Estate Sdn Bhd, said in a statement to the central bank yesterday that it will issue one- to 10-year sukuk by private placement to unnamed buyers. AmInvestment Bank Bhd is advising on the sale of the sukuk, which will not be rated by credit-rating firms………………………………………..Full Article: Source

Italian state fund rejects accusations over private equity ‘distortion’

Posted on 18 February 2014 by VRS  |  Email |Print

The head of Italy’s €4bn state-backed investment fund has rejected accusations that backing from Rome is “distorting” the Italian private equity market for investors keen to tap resurgent interest in the eurozone’s third-largest economy.
The comments from Maurizio Tamagnini, chief executive of Fondo Strategico Italiano, come as the former banker prepares to finalise a €500m deal with the Kuwait Investment Authority. The KIA deal to invest in the Italian investment fund follows an agreement by the Qatar Investment Authority to invest up to €1bn in a dedicated FSI-run fund to acquire furniture, fashion and machinery that is “Made in Italy”………………………………………..Full Article: Source

Norwegian central banker urges sovereign wealth fund to embrace ‘real assets’

Posted on 17 February 2014 by VRS  |  Email |Print

Norway’s $800bn sovereign wealth fund should be allowed to increase exposure to “real assets” such as equities and infrastructure, and trim back on bonds to find a better balance between improving returns and hedging against risk, Øystein Olsen, the country’s central bank governor, suggested on Thursday.
In an interview with The Wall Street Journal, the chief of Norges Bank, which manages the giant fund - also known as the oil fund - said that cutting the vehicle’s bond exposure to between 20% and 25% of its holdings from 35% currently could be appropriate as this could enable the fund to “get markedly higher yields in the other asset classes”………………………………………..Full Article: Source

GIC hikes stake in Indian developer

Posted on 12 February 2014 by VRS  |  Email |Print

GIC is continuing with its foreign property investment spree. Last week, it enlarged its stake in Bombay-listed property developer Phoenix Mills from 1.476 per cent to 5.023 per cent in an open market transaction worth 1.06 billion rupees (S$21.6 million).
This is the Singapore sovereign wealth fund’s fifth foreign property investment in as many months, after sealing deals in Jakarta, Australia, London and New York City………………………………………..Full Article: Source

CIC real estate spending spree in UK will create many jobs

Posted on 10 February 2014 by VRS  |  Email |Print

Chinese investment in British real estate has increased remarkably and will continue in the coming years, industry insiders say. Dalian Wanda Group, one of China’s largest and most ambitious conglomerates, plans to invest up to 3 billion pounds ($4.97 billion) in regeneration projects in Britain.
British Prime Minister David Cameron announced the investment on Jan 24 after meeting Dalian Wanda chairman Wang Jianlin at the World Economic Forum in Davos, Switzerland.”When I met Chairman Wang Jianlin during my recent trade visit to China, I encouraged him to make further investment in Britain. So I’m delighted that Wanda has decided to invest 2 to 3 billion pounds in regeneration projects,” Cameron said…………………………………..Full Article: Source

Future Fund to boost real assets, slice alternatives

Posted on 04 February 2014 by VRS  |  Email |Print

The $96.5 billion Australian sovereign wealth fund has outlined its mission to enlarge the “tangible” allocation in its portfolio, cutting exposure to listed equities, cash, and alternatives.
In its portfolio round-up of 2013, the Future Fund’s executive outlined plans to turn its current allocation into a “mature portfolio”. In a bar chart, it showed this transition would mean a reduction to various previously core asset classes and an increase to just real assets………………………………………..Full Article: Source

GIC and Macquarie invest in Australian student dorm developer

Posted on 30 January 2014 by VRS  |  Email |Print

Singapore’s GIC and Australia’s Macquarie Capital said on Wednesday they have formed a joint venture that bought a majority stake in an Australian student accommodation group. The investment into Iglu is the largest transaction of its kind in the Australian student accommodation sector, GIC and Macquarie said in a statement.
The statement, however, did not give the value of the investment. Iglu, a specialist developer of purpose built off-campus student accommodation, currently has three properties in Brisbane and Sydney offering 900 beds………………………………………..Full Article: Source

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