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Ireland’s National Pension Reserve Fund to seek buyer for private equity holdings

Posted on 13 December 2013 by VRS  |  Email |Print

A report on The Irish Times said Ireland’s National Pension Reserve Fund, or NPRF, was believed to be looking for a buyer for its private equity investments. As of the end of September, the pension fund’s holdings were valued at €716 million.
According to information gleaned from its website, the NPRF was set up in April 2001 to meet the costs of Ireland’s social welfare and public service pensions as much as possible from 2025 onwards, when these costs are projected to increase dramatically due to the ageing of itspopulation………………………………………..Full Article: Source

Abu Dhabi Investment Authority to invest $250 mln in Hines India Real Estate

Posted on 11 December 2013 by VRS  |  Email |Print

Abu Dhabi Investment Authority is investing $250 million ( Rs 1,500 crore) in Hines India Real Estate, the Indian arm of American property development and management firm Hines, amid a rise in overseas interest in the sector.
“The sovereign wealth fund has formed a strategic alliance with Hines to invest across the residential segment in metros across India. This is the first direct real estate venture with a developer in India for the fund,” said one of the people with direct knowledge of the investment. It’s not known how much equity it will have in the venture………………………………………..Full Article: Source

Irish NPRF seeks to sell private equity assets

Posted on 06 December 2013 by VRS  |  Email |Print

Embracing an inward stance on investing, the once major allocator of private equity is looking to sell those very investments. In 2005, the NPRF embarked on a private equity investing binge – partnering with a number of the most-recognized funds in the industry.
Ireland’s sovereign fund is transforming their discretionary portfolio into an economic stimulator to create domestic jobs – essentially modifying the fund into a strategic development sovereign wealth fund (SDSWF)………………………………………..Full Article: Source

Norway’s $815 bln oil fund buys into London property

Posted on 04 December 2013 by VRS  |  Email |Print

Norway’s $815 billion sovereign wealth fund purchased a 25 percent stake in Regent Street’s 270,000 square feet Quadrant 3 building in London’s West End from The Crown Estate for 97.5 million pounds, it said on Tuesday.
The Crown Estate retained a 75 percent interest in the property and will continue to manage the asset on behalf of the partnership, it added. The fund, commonly known as the oil fund, aims to hold 5 percent of its portfolio in real estate over time but the level is currently around 1 percent, indicating more purchases in the near term………………………………………..Full Article: Source

Norway SWF expands UK Crown Estate partnership

Posted on 04 December 2013 by VRS  |  Email |Print

The Fund’s London property acquisition continues with a 25 per cent interest in Regent Street’s Quadrant 3 building in London’s West End, Norges Bank reports. The buy-in for GBP 97.5 million values the entire building at GBP 390 million, total, according to the statement.
The Crown Estate retains its 75 per cent stake in the property. It will continue to manage the asset on behalf of the joint partnership with the Norwegian Sovereign Wealth Fund (Government Pension Fund Global/GPFG). The statement also says the Quadrant 3 building gives 270,000 square feet of office, retail and restaurant space on nine floors. This is located over basement, ground and seven upper floors………………………………………..Full Article: Source

Norway, Denmark swoop for more UK real assets

Posted on 04 December 2013 by VRS  |  Email |Print

Norway’s sovereign wealth fund (SWF) has taken a further chunk of London’s premier shopping area, while PensionDanmark has announced the purchase of wind farms in the UK. Norges Bank Investment Management, which oversees the assets of the world’s largest SWF, today said it had bought a 25% stake in a building named Quadrant 3 from the Crown Estate, the organisation that looks after property owned by the UK sovereign.
The deal marks a further acquisition in the London’s Regent Street area for the SWF, which made its first purchase in 2011, and more generally a deeper move into prime commercial real estate. The fund has a stake in Sheffield shopping centre Meadowhall and took a substantial holding in central Paris earlier this year………………………………………..Full Article: Source

Qatari Diar to restart USD600mln Yemen project

Posted on 02 December 2013 by VRS  |  Email |Print

Qatari Diar, the Qatari developer, is planning to resume work on a USD 600 million real estate project in Yemen, a newspaper in the Gulf kingdom reported on Monday. Nearly 44 villas were constructed in Al-Rayyan Hills (Sanaa) before the company was forced by war to freeze work, a senior official told the Qatari Arabic language daily Sharq.
The project is being developed by Al-Yemania Al Qatariah Real Estate Investment and Development Company - a joint-venture between Qatari Diar and Shibam Holding, which is owned by the Yemeni government………………………………Full Article: Source

Qatar said to pull out of Greek airport race

Posted on 02 December 2013 by VRS  |  Email |Print

Qatar’s state-owned real estate firm has reportedly pulled out of the race to redevelop the former Athens airport, known as the Hellinikon International Airport.
According to the Greek Reporter, Qatari Diar, a subsidiary of Qatar Investment Authority,has informed the administration of the Hellenic Republic Asset Development Fund (TAIPED) that it will not participate in the next phase of the process………………………………Full Article: Source

SWFs as investors in hedge funds

Posted on 29 November 2013 by VRS  |  Email |Print

As Sovereign Wealth Funds (SWFs) have grown in number and AUM they have become more significant to the hedge fund industry. According to data from Preqin, assets managed by SWFs are up 76% in the last 5 years as existing funds have grown, and new funds have been formed. Total assets across all SWFs is estimated to be $5.3 tn, up a cool $750bn in this year alone.
As with any institutional investors, the appetite for alternative assets is partly a function of seasoning – the length of time the operation has been established. Like a pension plan, SWFs typically look to add alternatives after having established and implemented investment policies (and so asset allocations) across traditional assets………………………………………..Full Article: Source

Norway wealth fund joins Axa unit to purchase Munich’s SZ Tower

Posted on 25 November 2013 by VRS  |  Email |Print

The manager of Norway’s sovereign-wealth fund, the world’s largest, and a unit of Axa Real Estate Investment Managers plan to buy Munich’s SZ Tower. A Norges Bank Investment Management unit and Axa Real Estate will “indirectly acquire joint control” of the 28-story building, according to a filing to the European Union’s executive arm yesterday. The property includes three lower levels, an underground garage and a six-floor campus.
Prime Office REIT-AG agreed to sell the building for 164.1 million euros ($220 million), the Munich-based company said today in a statement. Prime Office didn’t identify the buyers of the building, which is currently the headquarters of publishing company Sueddeutscher Verlag………………………………………..Full Article: Source

GIC, Ascendas to pump in Rs 3,000 cr in realty projects

Posted on 25 November 2013 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and business space solutions provider Ascendas Pte Ltd will jointly invest around Rs 3,000 crore towards developing commercial real estate in India.
The money would be invested through Ascendas India Growth Programme (AIGP), in which GIC is a principal investor. The extent of GIC’s investments in AIGP has not been disclosed though………………………………………..Full Article: Source

Australian property trust CPA ditches Dexus deal, open for better offer

Posted on 25 November 2013 by VRS  |  Email |Print

Australian real estate trust Commonwealth Property Office Fund (CPA) has terminated a deal with Dexus Property Group and a Canadian pension fund, after receiving a higher takeover offer from property investor The GPT Group.
The A$2.99 billion ($2.81 billion) takeover bid from GPT, whose biggest shareholder is Singaporean sovereign wealth fund GIC Private Limited, has gate-crashed the deal with Dexus and Canada Pension Plan Investment, as foreign investors bet on the upward trend in Australia’s office property sector………………………………………..Full Article: Source

Hillwood and SWF debut broad spectrum industrial real estate venture

Posted on 25 November 2013 by VRS  |  Email |Print

A major sovereign wealth fund and Hillwood, a real estate investment and development company owned by Ross Perot , Jr., announced the initial closing of a new fund to make direct and indirect investments in industrial real estate, principally large warehouses, across North America.
According to a release, Hillwood will have responsibilities for acquisitions, developments, and joint ventures with other developers. With an expected total equity amount of $400 million - over half of which has been identified and committed - the partnership is expected to deploy more than $1 billion over the next three to four years. The partnership represents the second such venture between Hillwood and the sovereign wealth fund………………………………………..Full Article: Source

GIC, Ascendas to pump in Rs 3,000 cr in realty projects

Posted on 21 November 2013 by VRS  |  Email |Print

Singapore’s sovereign wealth fund GIC and business space solutions provider Ascendas Pte Ltd will jointly invest around Rs 3,000 crore towards developing commercial real estate in India.
The money would be invested through Ascendas India Growth Programme (AIGP), in which GIC is a principal investor. The extent of GIC’s investments in AIGP has not been disclosed though……………………………….Full Article: Source

Hillwood and sovereign wealth dund debut broad spectrum industrial real estate venture

Posted on 21 November 2013 by VRS  |  Email |Print

A major sovereign wealth fund and Hillwood, a real estate investment and development company owned by Ross Perot, Jr., announced the initial closing of a new fund to make direct and indirect investments in industrial real estate, principally large warehouses, across North America.
According to a release, Hillwood will have responsibilities for acquisitions, developments, and joint ventures with other developers. With an expected total equity amount of $400 million - over half of which has been identified and committed - the partnership is expected to deploy more than $1 billion over the next three to four years……………………………….Full Article: Source

GIC, Ascendas to invest up to S$600 mln in Indian property

Posted on 20 November 2013 by VRS  |  Email |Print

GIC Pte, Singapore’s sovereign wealth fund, and Ascendas Pte plan to invest as much as S$600 million ($483 million) in Indian real estate to meet rising demand for commercial property.
The companies set up the Ascendas India Growth Programme with a target size of S$600 million with GIC being the principal investor, they said in a joint e-mailed statement today. The fund will invest in business space in Bangalore, Chennai, New Delhi and surrounding areas, Hyderabad, Mumbai and Pune, according to the statement………………………………….Full Article: Source

Angola’s sovereign wealth fund denies R3bln spend on ‘trophy’ office

Posted on 20 November 2013 by VRS  |  Email |Print

Angola’s sovereign wealth fund has strongly denied spending R3-billion on a “trophy” office block in London’s exclusive Mayfair district, saying the property was purchased under a separate Central Bank of Angola mandate at open auction in August last year.
Mail & Guardian investigative wing AmaBhungane last week reported on allegations appearing in the journal Africa Confidential that the $5-billion fund, chaired by Filomeno dos Santos, the son of Angola’s President José Eduardo dos Santos, had bought a 9 750 square metre office block at 23 Savile Row in London, United Kingdom………………………………….Full Article: Source

China wealth fund to splash $300mln on three-tower complex

Posted on 18 November 2013 by VRS  |  Email |Print

China’s sovereign wealth fund, the $US500 billion ($535bn) Chinese Investment Corporation, is poised to enter Australia’s direct property market by buying into Sydney’s three-tower Centennial Plaza complex in Elizabeth Street in a near $300 million play.
The deal is one of about $900m worth of moves for Sydney towers by international groups that are expected to close shortly………………………………………..Full Article: Source

Singapore-based GIC said to invest in Time Warner Center

Posted on 15 November 2013 by VRS  |  Email |Print

GIC Pte, Singapore’s sovereign wealth fund, is part of a group that is buying the headquarters of Time Warner Inc. in New York City, according to one person with direct knowledge of the transaction.
Located at Columbus Circle in Manhattan, the property is a 2.8 million-square-foot twin-tower development that includes offices, restaurants, and the Mandarin Oriental hotel, according to the Time Warner Center website. The building adjacent to Central Park was opened in 2004 and attracts more than 16 million visitors a year. GIC declined to comment on the transaction in an emailed statement………………………………………..Full Article: Source

GIC said to invest in NYC’s Time Warner headquarters

Posted on 14 November 2013 by VRS  |  Email |Print

GIC Pte, Singapore’s sovereign wealth fund, is part of a group that’s buying the headquarters of Time Warner Inc. in New York City, according to a person with direct knowledge of the transaction.
The person asked not to be named because the deal is private. Located at Columbus Circle in Manhattan, the property is a 2.8 million-square-foot (260,000-square-meter) twin-tower development that includes offices, restaurants and the Mandarin Oriental hotel, according to the Time Warner Center website. The building adjacent to Central Park was opened in 2004 and attracts more than 16 million visitors a year………………………………………..Full Article: Source

CIC may spend $1bln for London Office Park

Posted on 14 November 2013 by VRS  |  Email |Print

China Investment Corporation is laying the groundwork for acquisition of 32-acre Chiswick Park, one of London’s largest office developments.
The Financial Times says it would be the highest value real estate purchase made by Beijing’s investment arm in Europe. CIC is reportedly in exclusive negotiations with Blackstone to purchase the property in west London. The Times say the deal could close toward the end of November………………………………………..Full Article: Source

London’s mayor sees more Kuwait investment in developments

Posted on 13 November 2013 by VRS  |  Email |Print

Kuwait is interested in investing in London real estate projects after focusing on completed properties for several years, Boris Johnson, the city’s mayor, said after meeting with members of the Kuwait Investment Authority.
“The KIA wants to move forward with fresh developments that I think they had moved away from over the last few years, and that’s going to be good news for London,” Johnson, 49, said today in Kuwait City………………………………………..Full Article: Source

Why SWFs are changing their views on alternative assets

Posted on 13 November 2013 by VRS  |  Email |Print

You would call them the smartest guys in the room, had Enron not ruined the term for at least a generation. The big US endowment funds, those of Yale University and Harvard University in particular, are considered the benchmarks for patient, smart, long-term investment, reflecting the brainpower of the institutions they fund.
A look at the world’s sovereign wealth funds shows that they are so far keeping the faith with private equity, but are showing a clearer delineation between different types of alternative assets, with infrastructure very much in favour, and hedge funds very much not………………………………………..Full Article: Source

CIC in second London property deal

Posted on 12 November 2013 by VRS  |  Email |Print

China Investment Corporation is closing a deal to buy Chiswick Park, a West London office development, from US private equity group Blackstone for about 800 million (HK$9.9 billion).
The acquisition of the 13.3-hectare business park may be finalized within the month, according to the Financial Times.Tenants include Pepsi, Swarovski and TV broadcaster QVC. If successful, the deal would become the most expensive investment in Europe by China’s sovereign wealth fund………………………………………..Full Article: Source

London property not best investment for Hong Kong Monetary Authority

Posted on 12 November 2013 by VRS  |  Email |Print

And so saying, the HKMA announced that it has jumped into the London property market by paying HK$2.5 billion for a joint venture with Great Portland Estates to build a Mayfair office and shop complex.
You may have noticed the abundance of London property ads in this newspaper recently. They all look much the same - an arrow pointing to a dot somewhere on an aerial photo and a banner above saying, “There, that’s us, only 20 seconds from Buckingham Palace, 15 from Regent Street and 10 seconds at most to get to Harvey Nichols. Get one now, cheap at £10 billion (HK$124.6 billion) per shoebox.”……………………………………….Full Article: Source

CIC set to buy London business park from Blackstone

Posted on 11 November 2013 by VRS  |  Email |Print

China Investment Corporation is set to buy Chiswick Park, a west-London office development, from U.S. private equity group Blackstone for about 800 million pounds, the Financial Times reported, citing people familiar with the matter. The talks are at an advanced stage and a deal could be finalised before end of November, the FT said
If successful, the deal would be the second acquisition by CIC in the UK property market after it bought Deutsche Bank’s City of London headquarters last year, the newspaper added………………………………………..Full Article: Source

Khazanah-Temasek in JV for Singapore posh projects

Posted on 11 November 2013 by VRS  |  Email |Print

Khazanah Nasional Bhd and Singapore’s Temasek Holdings Pte Ltd are jointly developing posh residential and commercial projects in the island state with a gross development value (GDV) of RM10.2 billion.
The integrated real estate venture named DUO, is undertaken by M+S Pte Ltd, a joint venture (JV) between both Khazanah, Malaysia strategic investment fund, and Temasek, Singapore’s state-owned investment arm. Under the JV formed in June 2011, Khazanah owns a 60% stake while Temasek has 40%………………………………………..Full Article: Source

Norway Oil Fund to now buy prime foreign land?

Posted on 08 November 2013 by VRS  |  Email |Print

The Norwegian government has had a sovereign wealth fund, which collects income from their oil, for many years now and it was worth $810 billion at the last official valuation.
While the managers of the Norway sovereign wealth fund have already been looking at the European property market, a revelation today shows that there could be a significant investment in worldwide property by the fund in the short to medium term. As the price of UK property continues to move higher and higher there are now serious concerns that first-time buyers may become a thing of the past………………………………………..Full Article: Source

Expanding SWFs look for alternatives

Posted on 07 November 2013 by VRS  |  Email |Print

Norges Bank ties up with Axa for real estate loans; AUM at global sovereign wealth funds top $5 trillion. This year, sovereign wealth funds have grown at their fastest rate since 2007, adding $750 billion to assets under management in the year to October.
A recent study by alternative assets research firm Preqin shows that total assets under management in sovereign wealth funds globally now exceed $5 trillion, having increased from $4.62 trillion to $5.38 trillion over the past year………………………………………..Full Article: Source

SOFAZ gold assets estimated at $1.1 bln

Posted on 06 November 2013 by VRS  |  Email |Print

Physical gold amounts already 3.2% of currency assets of the State Oil Fund of Azerbaijan (SOFAZ). The Fund informs that as of 1 October its investment portfolio was $35.5 bn or 99.3% of currency assets ($35.809 bn).
At that, the basis of portfolio consists of investments in American currency - $17.05 bn or 48%. Investments in single European currency were a little behind – 40.1% of assets or €10.55 bn. Investments in British pounds were formed by 5.1% of assets or £1.146 bn………………………………………..Full Article: Source

Abu Dhabi Investment Authority set for big French property deal

Posted on 01 November 2013 by VRS  |  Email |Print

Abu Dhabi Investment Authority (Adia) is in advanced negotiations to buy a €750 million (Dh3.75 billion) property portfolio from the Swiss bank UBS. According to filings made with the French competition commission, the Abu Dhabi sovereign wealth fund, through its subsidiary Tamweelview European Holdings, is in talks with the UBS-owned Docks Lyonnais to sign what could be the biggest deal in French commercial real estate this year.
The portfolio includes the 24,000 square metre 19th century 6-8 Boulevard Haussmann office block in the 9th arrondissement of Paris currently let to the French bank BPI as its headquarters…………………………….Full Article: Source

Singapore’s GIC invests in Rajawali Group’s Indonesia office tower project

Posted on 31 October 2013 by VRS  |  Email |Print

GIC Pte. Ltd., Singapore’s sovereign wealth fund, said Wednesday it is buying an office tower under development in Jakarta by Indonesian conglomerate Rajawali Group.
GIC didn’t disclose the cost of the acquisition. The 47-floor tower would be located in the Indonesian capital’s central business district, and comprise international grade-A office space, the sovereign wealth fund said in a joint statement with Rajawali……………………………..Full Article: Source

GIC invests in Jakarta’s booming real estate market

Posted on 31 October 2013 by VRS  |  Email |Print

The Republic’s sovereign wealth fund GIC is buying a Grade A office tower under development in Jakarta’s central business district, adding to its portfolio of assets in South-east Asia’s largest economy.
The 47-storey building is part of a mixed-use development being built by Indonesian conglomerate Rajawali Group and due for completion at the end of 2015. The property includes an arm of The St Regis Hotel and retail podium for food-and-beverage outlets……………………………..Full Article: Source

World’s top sovereign wealth fund ‘to boost property investment’

Posted on 30 October 2013 by VRS  |  Email |Print

Norway’s oil fund is looking at increasing its property investment, especially in the United States, says its Chief Executive. The head of Norway’s oil fund, the largest Sovereign Wealth Fund its kind in the world, says it is looking to increase its investment in property.
Yngve Slyngstad, Chief Executive of Norges Bank Investment Management, says property investments currently account for up to 5% of the fund. But after increasing the size of its team it was now in a position to further build its property portfolio…………………………………….Full Article: Source

RM10.2bln DUO venture set to boost Bugis district

Posted on 29 October 2013 by VRS  |  Email |Print

The RM10.2 billion DUO project, to be developed by Malaysia’s and Singapore’s sovereign wealth funds, Khazanah Nasional Bhd and Temasek Holdings Pte Ltd is set to boost the Bugis district in Singapore.
The project, which is currently being undertaken by M+S Pte Ltd, a 60-40 joint venture between Khazanah and Temasek, is situated strategically along the Beach Road-Ophir Rochor corridor and is the centrepiece of the Urban Redevelopment Authority’s (URA) initiative to rejuvenate the area………………………………………..Full Article: Source

British Land rumored as potential target for Kuwaiti sovereign wealth fund

Posted on 28 October 2013 by VRS  |  Email |Print

The Kuwait Investment Authority is rumored to have approached British Land Co. Plc with a £8.99 billion, or £9-per-share, cash bid, The (U.K.) Daily Mail reported Oct. 24. The deal would value the company at £6.2 billion, according to the report.
J.P. Morgan Cazenove analysts Harm Meijer, Tim Leckie, Neil Green and Annelies Vermeulen said in their daily Property Ticker briefing that a deal is “unlikely.”……………………………………….Full Article: Source

Super-rich Arabs aiming to land a portfolio

Posted on 25 October 2013 by VRS  |  Email |Print

British Land’s shares were suddenly hot property as rumours of a £8.99billion or £9 a share cash bid from a sovereign wealth fund swept dealing rooms just before lunch. They were chased up to 629p before closing 10p higher at 623p, currently valuing London’s biggest landlord at £6.2billion.
GIC, one of the world’s largest sovereign wealth funds, has been a long-term holder of a 3.95 per cent stake, but the Kuwait Investment Authority was the name in the frame. It is the country’s sovereign wealth fund and has doubled its investment in the UK over the past ten years to more than £15billion………………………………………..Full Article: Source

Oman sovereign fund rejects hedge funds as too opaque, expensive

Posted on 25 October 2013 by VRS  |  Email |Print

Sovereign wealth funds have flocked to hedge funds in recent years—but not that of Oman. The oil-rich Arabian country’s US$6 billion Oman Investment Fund plans to invest in emerging market stocks and real-estate in stable countries, but won’t be hiring any hedge funds.
In his first interview in at least seven years, OIF CEO Hassan Al Nabhani told Bloomberg News, “hedge funds are not transparent enough in their strategies and the risk they take do not compensate for the returns and the fees they charge.”……………………………………….Full Article: Source

South Korea sovereign fund ups alts. investments

Posted on 17 October 2013 by VRS  |  Email |Print

South Korea’s sovereign wealth fund has poured some US$3 billion into alternative investments this year. The investments bring the Korea Investment Corp.’s alternatives holdings to roughly 10% of its $65 billion portfolio, chief investment officer Dong-Ik Lee told Pensions & Investments. KIC has set a 20% alternatives target, which Lee said it expected to reach over the next few years.
Hedge funds have won the biggest share of KIC’s alternatives allocation, with 39%. Private equity accounts for 31% and real-estate for 26%. Lee said eventually the numbers would skew more towards p.e………………………………………..Full Article: Source

Norway wealth fund joins Axa for European property lending

Posted on 16 October 2013 by VRS  |  Email |Print

The manager of Norway’s sovereign-wealth fund, the world’s largest, formed a venture with Axa Real Estate Investment Managers to provide European commercial real estate debt as borrowers rush to refinance maturing loans.
Norges Bank Investment Management and Axa Real Estate, a unit of Europe’s second-largest insurer, will supply individual senior loans as large as 600 million euros ($814 million) mainly in the U.K., France and Germany, Axa Real Estate said……………………………………….Full Article: Source

China said to study investing more reserves in European property

Posted on 16 October 2013 by VRS  |  Email |Print

China’s agency that manages the nation’s $3.66 trillion of foreign-exchange reserves is looking to make more investments in European property, two people familiar with the situation said.
The State Administration of Foreign Exchange, seeking to diversify the nation’s investments, is looking at real estate and infrastructure projects with a focus on the U.K., France, Germany, Poland and the Czech Republic, said the people, who asked not to be identified as they weren’t authorized to speak publicly about the matter. Valuations for such projects are currently at an attractive level, they said………………………………………..Full Article: Source

Norway takes Manhattan

Posted on 09 October 2013 by VRS  |  Email |Print

Early last month, Norway’s sovereign wealth fund announced it would invest $684 million in a 45 percent stake of Boston Properties’s Times Square Tower. No small achievement, the investment is the Norwegian Government Pension Fund’s second real estate play in the United States in a span of just eight months as it seeks to rev up its portfolio to as much as 5 percent of total assets under management.
The uptick in activity, prompted in part by the fund’s desire to reduce its exposure to the bond market, is a welcome development for real estate’s largest institutional players now seeking to realize gains on investments made during the past decade and to deploy capital in other sectors of the market………………………………………..Full Article: Source

Shifting focus for Middle East sovereign funds, report says

Posted on 02 October 2013 by VRS  |  Email |Print

Sovereign investors in the Middle East are piling increasingly into alternative investments like private equity and hedge funds as they bring more of their asset management expertise in-house, according to a new study.
The report, conducted by NMG Consulting on behalf of the U.S. asset manager Invesco, brought together data from 37 sovereign investors globally, including sovereign wealth funds, pension funds and vehicles that focus on domestic economic development. It found that the Middle East’s sovereign funds had 91% of their money in traditional asset classes………………………………………..Full Article: Source

China wealth fund eyes European hedge fund investment

Posted on 02 October 2013 by VRS  |  Email |Print

China Investment Corp., which has a 12.7% allocation to absolute return investments, is close to making a hedge fund investment in Europe.
Roslyn Zhang, MD of Fixed Income and Absolute Return Investments, says the Chinese sovereign wealth fund has been spending more time looking at Europe. “From the intelligence we gathered from managers, we had been lacking in confidence to pull the trigger, but now we feel we are getting closer to the point of taking action.”……………………………………….Full Article: Source

Sovereign funds boosting alternative investments, Invesco says

Posted on 01 October 2013 by VRS  |  Email |Print

Sovereign wealth funds, which control about $6 trillion of wealth globally, are boosting investments in alternative assets like real estate and private equity to increase returns, a survey by Invesco Ltd. (IVZ) found.
The wide swings in equity prices and the “market-wide dissatisfaction with risk-return profile of equity investing,” together with low interest rates on fixed-income products, has pushed government-controlled funds to consider alternative assets to enhance growth, Invesco said in a report released in Dubai today. Alternative investments include international and local private equity, real-estate, hedge funds, infrastructure and commodities, according to the report………………………………………..Full Article: Source

Azeri State Oil Fund to boost gold holdings by third next year

Posted on 27 September 2013 by VRS  |  Email |Print

Azerbaijan’s State Oil Fund plans to increase its gold holdings by a third next year as the largest crude producer in the former Soviet Union after Russia and Kazakhstan seeks to diversify its reserves.
The fund, known as Sofaz, will buy 10 metric tons of bullion in 2014 after reaching its previous target of 30 tons by the end of this year, Executive Director Shahmar Movsumov told reporters today in Baku, the Azeri capital………………………………………..Full Article: Source

Azerbaijan’s Oil Fund to buy up to 40 tons of gold until 2015

Posted on 27 September 2013 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has unveiled its plans on investment in tangible assets - physical gold and real estate. SOFAZ executive director Shahmar Movsumov says that since the beginning of 2013 the Fund has bought 26 tons of gold and more than half of this amount has already been delivered to the country.
“This year we are going to buy 30 tons of gold and another 10 tons at current prices next year,” Movsumov said. As a result, for 2013-14 the Fund will purchase 40 tons of gold………………………………………..Full Article: Source

SWFs see new alternative investment opportunities in Europe

Posted on 27 September 2013 by VRS  |  Email |Print

Jeffrey Jaensubhakij, managing director and president of GIC Asset Management, an arm of Singapore’s more than $100 billion sovereign wealth fund, said Europe will offer “considerable opportunities” as banks there deleverage. Evidence over the past year that eurozone policymakers will do whatever is necessary to maintain the trade bloc should give investors more confidence to pursue those opportunities, he said.
Roslyn Zhang, managing director, fixed-income and absolute-return investments with the $575.2 billion China Investment Corp., Beijing, pointed to hedge funds focused on Europe as a segment that looks especially attractive over the next few years. Explaining the CIC’s approach to its hedge fund portfolio, Ms. Zhang said while the CIC is a long-term investor, that doesn’t mean its allocations are “frozen money.”……………………………………….Full Article: Source

Mubadala, Gulf Related in Dh248mln refinancing of The Galleria debt

Posted on 25 September 2013 by VRS  |  Email |Print

Mubadala Real Estate & Infrastructure, a business unit of Mubadala Development Company, and Gulf Related, a regional real estate development company focused on high-end retail, residential and mixed-use real estate developments in the Middle East, announce Dh248 million refinancing of The Galleria debt with the National Bank of Abu Dhabi, following the successful opening and 100 per cent leasing of the retail mall in August.
The Dh248 m refinancing facility will help The Galleria to further strengthen its capital structure, reduce its borrowing cost and generate over 50 per cent in annual interest expense savings………………………………………..Full Article: Source

Macquarie sees record global fund flows into Australian property

Posted on 23 September 2013 by VRS  |  Email |Print

Macquarie Group Ltd. (MQG), Australia’s biggest investment bank, is seeing record global investor purchases of Australian commercial property, which is offering relatively high yields and secure cash flows.
“Large pension and sovereign wealth funds have very large, growing amounts of money and they’re looking to allocate a significant portion to real estate,” Chris Green, global head of real estate at Macquarie, said………………………………….Full Article: Source

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