Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Fri, 27 May 2016 00:33:10 +0000 http://wordpress.org/?v=2.5.1 en Kazakh sovereign fund seeks over $6 billion from privatisations http://www.opalesque.com/SWF_Briefing/?p=19896 http://www.opalesque.com/SWF_Briefing/?p=19896#comments Fri, 27 May 2016 00:33:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19896 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19896>Article Link</a> Kazakh sovereign wealth fund Samruk-Kazyna plans to raise more than $6 billion (4 billion pounds) from privatisations over the next five years, using the proceeds to help its companies repay debt, the fund’s managing director told Reuters on Thursday. (more…)

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State Oil Fund sells $50M to Azerbaijani banks http://www.opalesque.com/SWF_Briefing/?p=19895 http://www.opalesque.com/SWF_Briefing/?p=19895#comments Fri, 27 May 2016 00:32:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19895 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19895>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $20 million to 11 banks through an auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said May 26. Meanwhile, CBA itself acquired $30 million at the auction. (more…)

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Saudi Wealth Fund Plans Would Make It the World’s Largest: Chart http://www.opalesque.com/SWF_Briefing/?p=19894 http://www.opalesque.com/SWF_Briefing/?p=19894#comments Fri, 27 May 2016 00:32:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19894 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19894>Article Link</a> Saudi Arabia is planning to create the world’s largest sovereign wealth fund by adding ownership of oil giant Saudi Aramco and other key assets to the Public Investment Fund. With a potential value of more than $2 trillion — mostly based on what Aramco is worth — the fund would be more than double the size of the Norwegian fund, the world’s largest. (more…)

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Key questions raised by the $2 trillion Saudi wealth fund plan http://www.opalesque.com/SWF_Briefing/?p=19893 http://www.opalesque.com/SWF_Briefing/?p=19893#comments Fri, 27 May 2016 00:32:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19893 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19893>Article Link</a> Saudi Arabia is planning to expand its sovereign wealth fund into the world’s largest. The Public Investment Fund could eventually control more than $2 trillion, according to Deputy Crown Prince Mohammed bin Salman, making it big enough to buy the world’s four largest publicly traded companies. (more…)

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Saudi wealth fund PIF said to mull $8bn bid for Riyadh hub http://www.opalesque.com/SWF_Briefing/?p=19892 http://www.opalesque.com/SWF_Briefing/?p=19892#comments Fri, 27 May 2016 00:32:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19892 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19892>Article Link</a> Saudi Arabia’s Public Investment Fund, the wealth fund headed by Deputy Crown Prince Mohammed bin Salman, is likely to make an offer next month to buy Riyadh’s unfinished financial hub as the government attempts to rehabilitate a project plagued by delays and cost overruns. (more…)

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Abu Dhabi sovereign fund may invest in Greenko http://www.opalesque.com/SWF_Briefing/?p=19891 http://www.opalesque.com/SWF_Briefing/?p=19891#comments Fri, 27 May 2016 00:32:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19891 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19891>Article Link</a> Abu Dhabi Investment Authority, the sovereign wealth fund of the emirate of Abu Dhabi, is in final talks with the Hyderabad-based Greenko Group to invest $170-$200 million for a minority stake. The transaction is expected to close at a $1 billion post-money valuation, The Economic Times reported citing sources. (more…)

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China’s CIC Invests $700M in Brookfield’s 1 New York Plaza http://www.opalesque.com/SWF_Briefing/?p=19890 http://www.opalesque.com/SWF_Briefing/?p=19890#comments Fri, 27 May 2016 00:31:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19890 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19890>Article Link</a> Mainland sovereign wealth fund China Investment Corporation has made its first significant US real estate investment, acquiring a 49 percent interest in the 1 New York Plaza office tower from Brookfield Property Partners for $700 million, according to reports in the New York press. (more…)

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1MDB Unit Bought by China Nuclear Firm Was Distressed, Auditor Says http://www.opalesque.com/SWF_Briefing/?p=19889 http://www.opalesque.com/SWF_Briefing/?p=19889#comments Fri, 27 May 2016 00:31:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19889 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19889>Article Link</a> An audit of a key energy group sold by troubled state investment fund 1Malaysia Development Bhd. to a Chinese state-owned nuclear-power company flagged deep uncertainty over the company’s viability. (more…)

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FINMA links BSI Singapore, BSI Swiss to 1MDB http://www.opalesque.com/SWF_Briefing/?p=19888 http://www.opalesque.com/SWF_Briefing/?p=19888#comments Fri, 27 May 2016 00:31:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19888 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19888>Article Link</a> In a massive revelation, the Swiss financial market supervisory authority FINMA has conclusively linked troubled bank BSI AG and its Singapore branch, to the global scandal surrounding Malaysian sovereign wealth fund 1MDB. FINMA said through business relationships and transactions linked to the corruption scandals surrounding 1MDB, BSI AG committed serious breaches of money laundering regulations. (more…)

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World’s largest sovereign fund means biz in Sri Lanka http://www.opalesque.com/SWF_Briefing/?p=19887 http://www.opalesque.com/SWF_Briefing/?p=19887#comments Fri, 27 May 2016 00:31:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19887 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19887>Article Link</a> The world’s largest sovereign wealth fund, Norway’s Pension Fund, with assets worth a staggering $ 800 billion, appears to be bullish on investing in Sri Lanka, having built a small yet growing portfolio of listed equities. (more…)

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Norway to regulate $850 billion fund’s tax haven exposure-lawmakers http://www.opalesque.com/SWF_Briefing/?p=19886 http://www.opalesque.com/SWF_Briefing/?p=19886#comments Fri, 27 May 2016 00:30:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19886 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19886>Article Link</a> Norway will take a first step this week towards using its $850 billion sovereign wealth fund, the world’s biggest, as a tool to combat the use of tax havens, two key members of parliament’s finance committee told Reuters on Wednesday. (more…)

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Alaska Permanent plans up to $3 billion for private investments next fiscal year http://www.opalesque.com/SWF_Briefing/?p=19885 http://www.opalesque.com/SWF_Briefing/?p=19885#comments Fri, 27 May 2016 00:30:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19885 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19885>Article Link</a> Alaska Permanent Fund Corp., Juneau, approved a private markets pacing plan for fiscal year 2017 starting July 1, said a news release from the $52.7 billion sovereign wealth fund. Under the pacing plan approved at this week’s board meeting, $900 million total would be committed to traditional private equity funds and co-investments in fiscal year 2017, with co-investments limited to $225 million. (more…)

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Permanent Fund narrows losses in 3Q http://www.opalesque.com/SWF_Briefing/?p=19884 http://www.opalesque.com/SWF_Briefing/?p=19884#comments Fri, 27 May 2016 00:30:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19884 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19884>Article Link</a> The Alaska Permanent Fund’s investment returns rose in the third quarter of fiscal year 2016 ended March 31, though performance is still down year-to-date. Due in part to the U.S. dollar’s strength impacting international investments, the Alaska Permanent Fund came in relatively flat in the third quarter of fiscal year 2016 at 1.2 percent compared to the performance benchmark of 2.3 percent. (more…)

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Key Questions Raised by the $2 Trillion Saudi Wealth Fund Plan http://www.opalesque.com/SWF_Briefing/?p=19883 http://www.opalesque.com/SWF_Briefing/?p=19883#comments Thu, 26 May 2016 01:26:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19883 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19883>Article Link</a> Saudi Arabia is planning to expand its sovereign wealth fund into the world’s largest. The Public Investment Fund could eventually control more than $2 trillion, according to Deputy Crown Prince Mohammed bin Salman, making it big enough to buy the world’s four largest publicly traded companies. (more…)

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Saudi wealth fund said to weigh US$8b bid for financial hub http://www.opalesque.com/SWF_Briefing/?p=19882 http://www.opalesque.com/SWF_Briefing/?p=19882#comments Thu, 26 May 2016 01:26:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19882 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19882>Article Link</a> Saudi Arabia’s Public Investment Fund is likely to make an offer next month to buy Riyadh’s unfinished financial hub as the government attempts to rehabilitate a project plagued by delays and cost overruns. (more…)

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Abu Dhabi Sovereign Fund ADIA eyes $200 million investment in Greenko http://www.opalesque.com/SWF_Briefing/?p=19881 http://www.opalesque.com/SWF_Briefing/?p=19881#comments Thu, 26 May 2016 01:26:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19881 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19881>Article Link</a> Six months after making its first bet on India’s fast growing renewable energy sector, sovereign wealth fund ( SWF) Abu Dhabi Investment Authority ( ADIA) is gearing up for a rerun. (more…)

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Norway to regulate $850 billion fund’s tax haven exposure-lawmakers http://www.opalesque.com/SWF_Briefing/?p=19880 http://www.opalesque.com/SWF_Briefing/?p=19880#comments Thu, 26 May 2016 01:25:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19880 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19880>Article Link</a> Norway will take a first step this week towards using its $850 billion sovereign wealth fund, the world’s biggest, as a tool to combat the use of tax havens, two key members of parliament’s finance committee told Reuters on Wednesday. (more…)

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Norway’s sovereign wealth fund says backed Shell CEO’s pay http://www.opalesque.com/SWF_Briefing/?p=19879 http://www.opalesque.com/SWF_Briefing/?p=19879#comments Thu, 26 May 2016 01:25:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19879 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19879>Article Link</a> Norway’s $850 billion (578.79 billion pounds) sovereign wealth fund, the world’s biggest, voted in favour of the 2015 remuneration package of Royal Dutch Shell Chief Executive Ben van Beurden at Tuesday’s annual meeting of shareholders, the fund said on its web site on Wednesday. (more…)

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SOFAZ revenues amount to $126 billion http://www.opalesque.com/SWF_Briefing/?p=19878 http://www.opalesque.com/SWF_Briefing/?p=19878#comments Thu, 26 May 2016 01:24:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19878 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19878>Article Link</a> Revenues of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $126.2 billion during the entire period of its activity. The remark was made by Ziya Kangarli, chief investment advisor at SOFAZ during the Forum on “Decrease in oil prices and economic reforms: Challenges and Opportunities” which was held at Khazar University on May 24. (more…)

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Global sovereign wealth fund network picks State Street as research partner http://www.opalesque.com/SWF_Briefing/?p=19877 http://www.opalesque.com/SWF_Briefing/?p=19877#comments Thu, 26 May 2016 01:24:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19877 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19877>Article Link</a> The global network of sovereign wealth funds has selected State Street Corp. (STT) to be one of its official research partners, said a news release. As one of International Forum of Sovereign Wealth Funds’ official research partners, State Street will work with the IFSWF on research topics relevant to long-term investors, including asset allocation and investing in private markets. (more…)

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Hong Kong Monetary Authority looks to improve banks’ cyber security http://www.opalesque.com/SWF_Briefing/?p=19876 http://www.opalesque.com/SWF_Briefing/?p=19876#comments Thu, 26 May 2016 01:24:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19876 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19876>Article Link</a> The banking regulator began a three-month consultation into the initiative on Tuesday, designed to ensure banks are ready to face online threats. The banking regulator is considering plans to require banks in the city to assess their resilience to cyber attacks and ways to train more qualified cybersecurity experts. From Tuesday, the Hong Kong Monetary Authority began a three-month consultation into the initiative. (more…)

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Goldman Sachs’ Malaysian deals dry up in 1MDB fallout http://www.opalesque.com/SWF_Briefing/?p=19875 http://www.opalesque.com/SWF_Briefing/?p=19875#comments Thu, 26 May 2016 01:24:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19875 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19875>Article Link</a> When Malaysia’s largest sovereign wealth fund asked bankers to pitch for work arranging a US$750 million (S$1 billion) bond sale in December, one big name was conspicuous by its absence - Goldman Sachs Group. (more…)

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1MDB assets transfer to be completed by mid-June http://www.opalesque.com/SWF_Briefing/?p=19874 http://www.opalesque.com/SWF_Briefing/?p=19874#comments Thu, 26 May 2016 01:23:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19874 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19874>Article Link</a> Malaysia Development Bhd’s (1MDB) assets transfer to Ministry of Finance Incorporated (MoF Inc) will likely be completed by mid-June, says Deputy Finance Minister Datuk Johari Abdul Ghani. The company, he said will then become a shell company to manage liabilities and bonds it has used. (more…)

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No more bailouts for 1MDB http://www.opalesque.com/SWF_Briefing/?p=19873 http://www.opalesque.com/SWF_Briefing/?p=19873#comments Thu, 26 May 2016 01:23:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19873 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19873>Article Link</a> All parties must ensure that 1Malay­­­sia Development Berhad (1MDB) does not borrow from public funds to “rescue” the national investment body. “There is nothing to hide. On questions on using funds from (Govern­ment) institutions to save 1MDB, I think we are all responsible to ensure that 1MDB will no longer borrow from them,” said Deputy Fi­­nance Minister Datuk Johari Abdul Ghani in response to a supplementary question by Datuk Mansor Othman (PKR-Nibong Tebal). (more…)

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Najib: No misappropriation in 1MDB’s accounts http://www.opalesque.com/SWF_Briefing/?p=19872 http://www.opalesque.com/SWF_Briefing/?p=19872#comments Thu, 26 May 2016 01:22:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19872 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19872>Article Link</a> There was no misappropriation in 1MDB’s accounts and administration, only weaknesses in the administration of the company, the Dewan Rakyat was told today. Prime Minister Najib Razak said this in a written reply to Mahfuz Omar (PAS-Pokok Sena) who had asked the finance minister to specify the course of action taken against the 1MDB management after the Public Accounts Committee’s (PAC) report. (more…)

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Brazil shutting down wealth fund http://www.opalesque.com/SWF_Briefing/?p=19871 http://www.opalesque.com/SWF_Briefing/?p=19871#comments Wed, 25 May 2016 02:14:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19871 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19871>Article Link</a> Eight years after it was founded, Brazil’s sovereign wealth fund is poised to finally serve its country — by shutting down. Acting President Michel Temer said Tuesday that the government plans to withdraw about 2 billion reais ($560 million) in assets and use the proceeds to finance a ballooning budget deficit as his economic team tries to end Brazil’s worst recession in a century. (more…)

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Kazakh sovereign wealth fund expects stabilization of tenge rate http://www.opalesque.com/SWF_Briefing/?p=19870 http://www.opalesque.com/SWF_Briefing/?p=19870#comments Wed, 25 May 2016 02:14:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19870 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19870>Article Link</a> The Department of Research and Knowledge Management of Samruk-Kazyna Sovereign Wealth Fund of Kazakhstan forecasted stabilization of the national currency of the country in 2016, according to the department’s report May 24. (more…)

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Kazakh sovereign fund raises forecast for 2016 average tenge rate http://www.opalesque.com/SWF_Briefing/?p=19869 http://www.opalesque.com/SWF_Briefing/?p=19869#comments Wed, 25 May 2016 02:13:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19869 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19869>Article Link</a> Kazakh sovereign wealth fund Samruk Kazyna has raised its forecast for the average tenge exchange rate this year to 355 per dollar, the fund said in a research note on Tuesday. (more…)

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Azerbaijan’s Oil Fund sold $50 million through auction http://www.opalesque.com/SWF_Briefing/?p=19868 http://www.opalesque.com/SWF_Briefing/?p=19868#comments Wed, 25 May 2016 02:13:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19868 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19868>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. SOFAZ reports that today it set for sale an offer for $50 million and sold them. (more…)

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Swiss Bank Is Charged Over 1MDB Dealings http://www.opalesque.com/SWF_Briefing/?p=19867 http://www.opalesque.com/SWF_Briefing/?p=19867#comments Wed, 25 May 2016 02:13:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19867 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19867>Article Link</a> Authorities in Switzerland and Singapore took action against Swiss private bank BSI SA for allegedly failing to prevent suspected money laundering and bribery related to its dealings with a Malaysian development fund. (more…)

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Confidence wanes in Malaysia govt-backed 1MDB bonds http://www.opalesque.com/SWF_Briefing/?p=19866 http://www.opalesque.com/SWF_Briefing/?p=19866#comments Wed, 25 May 2016 02:12:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19866 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19866>Article Link</a> The fortunes of bonds in Malaysia’s troubled investment fund 1MDB are diverging this month: Those guaranteed by Abu Dhabi’s sovereign wealth fund have rallied, while notes with support from Malaysia’s own government have dropped. (more…)

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Korea Investment Corp buys $56.3 Million stake in Time Warner Inc http://www.opalesque.com/SWF_Briefing/?p=19865 http://www.opalesque.com/SWF_Briefing/?p=19865#comments Wed, 25 May 2016 02:12:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19865 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19865>Article Link</a> Time Warner Inc: Korea Investment Corp scooped up 209,000 additional shares in Time Warner Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 769,173 shares of Time Warner Inc which is valued at $56.3 Million.Time Warner Inc makes up approximately 0.42% of Korea Investment Corp’s portfolio. (more…)

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Najib says he didn’t sign transfer of US$3.5b to Aabar BVI http://www.opalesque.com/SWF_Briefing/?p=19864 http://www.opalesque.com/SWF_Briefing/?p=19864#comments Wed, 25 May 2016 02:12:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19864 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19864>Article Link</a> Prime Minister Najib Abdul Razak has implied that he was not involved in the transfer of US$3.5 billion from 1MDB to a British Virgin Island entity it believed was a subsidiary of International Petroleum Investment Company (IPIC). (more…)

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Goldman Sachs sees Malaysian deals evaporate amid 1MDB concerns http://www.opalesque.com/SWF_Briefing/?p=19863 http://www.opalesque.com/SWF_Briefing/?p=19863#comments Wed, 25 May 2016 02:10:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19863 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19863>Article Link</a> When Malaysia’s largest sovereign wealth fund asked bankers to pitch for work arranging a US$750 million bond sale in December, one big name was conspicuous by its absence: Goldman Sachs. (more…)

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Malaysia’s 1MDB Tells Creditors No Plans to Wind Down http://www.opalesque.com/SWF_Briefing/?p=19862 http://www.opalesque.com/SWF_Briefing/?p=19862#comments Wed, 25 May 2016 02:10:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19862 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19862>Article Link</a> Malaysian state investment fund 1Malaysia Development Bhd. said on a call with creditors Monday that there are no plans to wind the troubled fund down. (more…)

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BSI in serious breach of money laundering regulations: FINMA full statement http://www.opalesque.com/SWF_Briefing/?p=19861 http://www.opalesque.com/SWF_Briefing/?p=19861#comments Wed, 25 May 2016 02:10:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19861 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19861>Article Link</a> Through business relationships and transactions linked to the corruption scandals surrounding the Malaysian sovereign wealth fund 1MDB, BSI AG committed serious breaches of money laundering regulations and “fit and proper” requirements. This is the outcome of enforcement proceedings launched by the Swiss Financial Market Supervisory Authority FINMA. (more…)

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Sovereign funds seek out yield in illiquid private debt funds http://www.opalesque.com/SWF_Briefing/?p=19860 http://www.opalesque.com/SWF_Briefing/?p=19860#comments Wed, 25 May 2016 02:09:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19860 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19860>Article Link</a> Demand from sovereign wealth funds seeking higher returns than those on mainstream bonds is helping drive a boom in specialist private debt vehicles that can provide loans for everything from aircraft leasing to lawsuit financing. (more…)

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Bahrain Wealth Fund Plans to Invest Over $400 Million This Year http://www.opalesque.com/SWF_Briefing/?p=19859 http://www.opalesque.com/SWF_Briefing/?p=19859#comments Tue, 24 May 2016 00:51:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19859 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19859>Article Link</a> Bahrain’s sovereign wealth fund plans to invest more than $400 million this year on international deals as it seeks to further diversify away from domestic assets, according to Chief Executive Officer Mahmood Al Kooheji. (more…)

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Bahrain’s Mumtalakat records $487m gross profit http://www.opalesque.com/SWF_Briefing/?p=19858 http://www.opalesque.com/SWF_Briefing/?p=19858#comments Tue, 24 May 2016 00:51:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19858 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19858>Article Link</a> Mumtalakat, the investment arm of Bahrain, announced a gross profit of $487.2m (BHD183.2) for the year ending 31 December, 2015. The figure is 1.1% higher than 2014 profits of $481.6m (BHD181.m). (more…)

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Mumtalakat in US real estate partnership deal http://www.opalesque.com/SWF_Briefing/?p=19857 http://www.opalesque.com/SWF_Briefing/?p=19857#comments Tue, 24 May 2016 00:50:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19857 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19857>Article Link</a> Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the kingdom, has joined hands with Regent Properties, a real estate development and investment firm based in Los Angeles, US, to acquire a major stake in its existing portfolio of commercial real estate assets worth $250 million across the country. (more…)

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Angolan Sovereign Fund invests US$4.7 billion http://www.opalesque.com/SWF_Briefing/?p=19856 http://www.opalesque.com/SWF_Briefing/?p=19856#comments Tue, 24 May 2016 00:50:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19856 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19856>Article Link</a> The net value of the investment portfolio of the Angolan Sovereign Fund on 31 December, 2015 was US$4.7 billion, with venture capital funding accounting for 58 percent of the total, the fund said in a statement. (more…)

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Hong Kong’s Exchange Fund reports investment gains of HK$24.1b in sharp turnaround http://www.opalesque.com/SWF_Briefing/?p=19855 http://www.opalesque.com/SWF_Briefing/?p=19855#comments Tue, 24 May 2016 00:50:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19855 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19855>Article Link</a> The Exchange Fund, Hong Kong’s reserve fund to defend its currency, reported an investment income of HK$24.1 billion for the first quarter of this year as strong gains in bonds and foreign exchange holdings offset losses in its stocks investment, according to the Hong Kong Monetary Authority (HKMA). (more…)

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China Investment Corp. buys $700M stake in 1 NY Plaza http://www.opalesque.com/SWF_Briefing/?p=19854 http://www.opalesque.com/SWF_Briefing/?p=19854#comments Tue, 24 May 2016 00:50:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19854 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19854>Article Link</a> Chinese sovereign wealth fund China Investment Corp. picked up a 49 percent stake in Brookfield Property Partners’ office tower at 1 New York Plaza in the Financial District. In the latest instance of foreign investment driving the city’s commercial real estate market, CIC paid around $700 million for its minority interest in the 50-story, 2.6 million-square-foot tower, valuing it at roughly $1.4 billion. (more…)

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CIC, KKR consortium aborts bid for Yum! Brands unit http://www.opalesque.com/SWF_Briefing/?p=19853 http://www.opalesque.com/SWF_Briefing/?p=19853#comments Tue, 24 May 2016 00:49:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19853 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19853>Article Link</a> A consortium backed by sovereign fund China Investment Corp (CIC) has withdrawn its bid for control of Yum! Brands Inc’s Chinese business after failing to agree on a price with the operator of KFC and Pizza Hut eateries in the nation, a person with knowledge of the matter said. (more…)

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1MDB Bond Fates Diverge as Abu Dhabi Vow Trumps Najib Support http://www.opalesque.com/SWF_Briefing/?p=19852 http://www.opalesque.com/SWF_Briefing/?p=19852#comments Tue, 24 May 2016 00:49:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19852 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19852>Article Link</a> The fortunes of bonds in Malaysia’s troubled investment fund are diverging this month: those guaranteed by Abu Dhabi’s sovereign wealth fund have rallied, while notes with support from Malaysia’s own government have dropped. (more…)

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Confidence wanes in Malaysia govt-backed 1MDB bonds http://www.opalesque.com/SWF_Briefing/?p=19851 http://www.opalesque.com/SWF_Briefing/?p=19851#comments Tue, 24 May 2016 00:49:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19851 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19851>Article Link</a> The fortunes of bonds in Malaysia’s troubled investment fund 1MDB are diverging this month: Those guaranteed by Abu Dhabi’s sovereign wealth fund have rallied, while notes with support from Malaysia’s own government have dropped. (more…)

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1MDB holds update call for US dollar denominated bondholders http://www.opalesque.com/SWF_Briefing/?p=19850 http://www.opalesque.com/SWF_Briefing/?p=19850#comments Tue, 24 May 2016 00:49:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19850 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19850>Article Link</a> 1Malaysia Development Bhd (1MDB) today held an update call for the holders of its US dollar denominated bond following the default on the US$1.75 billion (RM7.15 billion) 1MDB Energy (Langat) Ltd papers (Langat Notes). (more…)

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Oil Fund wielded its clout over bank executives’ pay http://www.opalesque.com/SWF_Briefing/?p=19849 http://www.opalesque.com/SWF_Briefing/?p=19849#comments Tue, 24 May 2016 00:48:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19849 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19849>Article Link</a> Norway’s sovereign wealth fund known as the Oil Fund has followed through on its decision to start using its clout, as a shareholder in major companies around the world, to oppose huge executive pay packages. Newspaper Dagens Næringsliv (DN) reported that it was part of voting down bonus packages last week, for example, for the bosses of Deutsche Bank in Germany. (more…)

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Pressure on Norway fund to divest from coal http://www.opalesque.com/SWF_Briefing/?p=19848 http://www.opalesque.com/SWF_Briefing/?p=19848#comments Tue, 24 May 2016 00:48:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19848 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19848>Article Link</a> Norway’s sovereign wealth fund may be forced to step up divestments of coal companies and could face a wider ban on investments in other fossil fuels. (more…)

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Russia, AIIB May Announce Joint Projects at Eastern Economic Forum http://www.opalesque.com/SWF_Briefing/?p=19847 http://www.opalesque.com/SWF_Briefing/?p=19847#comments Tue, 24 May 2016 00:47:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19847 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19847>Article Link</a> The Russian Direct Investment Fund (RDIF) and the Asian Infrastructure Investment Bank (AIIB) have negotiated a roadmap for cooperation and may announce joint projects at the upcoming Eastern Economic Forum (EEF), RDIF head Kirill Dmitriev said. (more…)

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Russia Interested in Saudi $2 Trillion Sovereign Wealth Fund Assets http://www.opalesque.com/SWF_Briefing/?p=19846 http://www.opalesque.com/SWF_Briefing/?p=19846#comments Mon, 23 May 2016 03:12:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19846 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19846>Article Link</a> Russia will be interested in the use of the announced Saudi Arabian $2-trillion sovereign wealth fund if it is established, Russian Energy Minister Alexander Novak said. “If they do launch such a fund and proceed with investing in projects then we could definitely put a claim on Russian projects’ participation, on the use of these assets,” Novak told reporters. (more…)

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World’s Biggest Wealth Fund Faces Wider Ban on Coal Investments http://www.opalesque.com/SWF_Briefing/?p=19845 http://www.opalesque.com/SWF_Briefing/?p=19845#comments Mon, 23 May 2016 03:12:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19845 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19845>Article Link</a> Norway’s sovereign wealth fund may be forced to step up divestments of coal companies and could face a wider ban on investments in other fossil fuels such as oil sands. (more…)

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FSDEA investment portfolio estimated at USD 4.7 billion http://www.opalesque.com/SWF_Briefing/?p=19844 http://www.opalesque.com/SWF_Briefing/?p=19844#comments Mon, 23 May 2016 03:11:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19844 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19844>Article Link</a> Angola’s Sovereign Wealth Fund (FSDEA) portfolio investment recorded last year is estimated at USD 4.7 billion (one dollar equals 166,708 Kwanzas), says the institution’s press note. Angop learnt Friday in Luanda that the portfolio recorded in 2015 is internationally diversified and holds allocations to venture capital funds, fixed income assets, variable to financial derivatives and currencies. (more…)

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Angola SWF raised private equity investment, trims debt exposure in 2015 http://www.opalesque.com/SWF_Briefing/?p=19843 http://www.opalesque.com/SWF_Briefing/?p=19843#comments Mon, 23 May 2016 03:11:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19843 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19843>Article Link</a> Angola’s sovereign wealth fund increased its investments in private equity focused on sub-Saharan Africa last year and sharply cut exposure to developed market bonds, the fund said in a statement published on Thursday. The fund said it had $4.7 billion under management at the end of last year, while audited results posted on its website showed it had $4.88 billion at the end of 2014. (more…)

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Bahrain sovereign fund Mumtalakat 2015 net profit drops 68.7 pct http://www.opalesque.com/SWF_Briefing/?p=19842 http://www.opalesque.com/SWF_Briefing/?p=19842#comments Mon, 23 May 2016 03:11:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19842 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19842>Article Link</a> Bahraini sovereign fund Mumtalakat posted a 68.7 percent drop in 2015 net profit on Sunday, as the state-owned investor cited impairment losses for the decline. Net profit in 2015 was $76.3 million against $243.6 million in the previous year, Mumtalakat said in a statement. (more…)

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Korea Investment Corp buys $58.1 Million stake in HCA Holdings Inc http://www.opalesque.com/SWF_Briefing/?p=19841 http://www.opalesque.com/SWF_Briefing/?p=19841#comments Mon, 23 May 2016 03:10:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19841 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19841>Article Link</a> Korea Investment Corp scooped up 183,900 additional shares in HCA Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 745,027 shares of HCA Holdings Inc which is valued at $58.1 Million.HCA Holdings Inc makes up approximately 0.43% of Korea Investment Corp’s portfolio. (more…)

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Gov’t not bound to undertake missing US$3.5b 1MDB bond, says Najib http://www.opalesque.com/SWF_Briefing/?p=19840 http://www.opalesque.com/SWF_Briefing/?p=19840#comments Mon, 23 May 2016 03:10:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19840 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19840>Article Link</a> Prime Minister Najib Abdul Razak claims the government is not legally bound to take over US$3.5 billion in 1MDB bonds. “(This is because) the bonds were not guaranteed by the government nor a support letter (issued by government) on the bond,” he said in his capacity as finance minister. (more…)

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SOFAZ’s 2015 budget Approved http://www.opalesque.com/SWF_Briefing/?p=19830 http://www.opalesque.com/SWF_Briefing/?p=19830#comments Fri, 20 May 2016 03:48:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19830 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19830>Article Link</a> Azerbaijan’s President Ilham Aliyev signed a decree May 18 on execution of the 2015 budget of the country’s State Oil Fund (SOFAZ). SOFAZ’s revenues and expenditures were 7,721,084,900 manats and 9,187,826,900 manats, respectively, in 2015, according to the decree. (more…)

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Angola Wealth Fund Says Half of Investments in Private Equity http://www.opalesque.com/SWF_Briefing/?p=19838 http://www.opalesque.com/SWF_Briefing/?p=19838#comments Fri, 20 May 2016 03:46:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19838 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19838>Article Link</a> Angola’s sovereign wealth fund said it put more than half of its investments in private equity funds focused in the country and across sub-Saharan Africa last year, describing its performance as “solid,” particularly in light of the global economic turbulence. (more…)

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Angola SWF raised private equity investment, trims debt exposure in 2015 http://www.opalesque.com/SWF_Briefing/?p=19837 http://www.opalesque.com/SWF_Briefing/?p=19837#comments Fri, 20 May 2016 03:46:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19837 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19837>Article Link</a> Angola’s sovereign wealth fund increased the amount of funds earmarked for private equity investments focused on sub-Saharan Africa last year and sharply cut exposure to developed market bonds, the fund’s chairman said on Thursday. The fund had $4.7 billion under management at the end of last year, chairman Jose Filomeno dos Santos said, while audited results posted on its website showed it had $4.88 billion at the end of 2014. (more…)

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