Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 02 Oct 2014 01:48:30 +0000 http://wordpress.org/?v=2.5.1 en Brazil official rules out fire sale of Banco do Brasil stock http://www.opalesque.com/SWF_Briefing/?p=16052 http://www.opalesque.com/SWF_Briefing/?p=16052#comments Thu, 02 Oct 2014 01:48:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16052 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16052>Article Link</a> Brazil’s government has no plans to sell the shares of state-run Banco do Brasil SA owned by the nation’s sovereign wealth fund, to help close a shortfall in the federal budget, a top finance ministry official said on Wednesday. (more…)

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Russia’s Sovereign Fund Invests Lobbying $$$ in Capitol Counsel http://www.opalesque.com/SWF_Briefing/?p=16051 http://www.opalesque.com/SWF_Briefing/?p=16051#comments Thu, 02 Oct 2014 01:48:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16051 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16051>Article Link</a> The Russian Direct Investment Fund, which has more than $10B in assets, has invested $90K in a two-month effort by Capitol Counsel LLC to educate US Treasury staffers and policymakers about its operation. The Financial Times reported Sept. 21 that RDIV is battling to preserve its goals as relations between Moscow and West plummet. (more…)

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Singapore’s GIC to invest over 200 mln euros in Spanish property firm http://www.opalesque.com/SWF_Briefing/?p=16050 http://www.opalesque.com/SWF_Briefing/?p=16050#comments Thu, 02 Oct 2014 01:47:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16050 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16050>Article Link</a> Singaporean sovereign wealth fund GIC has agreed to pay more than 200 million euros ($252 million) for a 30 percent stake in unlisted Spanish real estate firm Gmp, the two companies said in a statement on Wednesday. (more…)

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China’s CIC, AVIC end talks to acquire Avolon http://www.opalesque.com/SWF_Briefing/?p=16049 http://www.opalesque.com/SWF_Briefing/?p=16049#comments Thu, 02 Oct 2014 01:47:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16049 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16049>Article Link</a> China Investment Corp (CIC) and AVIC Capital Co Ltd have ended talks to acquire Avolon Holdings Ltd, making it likely that the aircraft leasing company will pursue an initial public offering, according to people familiar with the matter. (more…)

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Africa’s Richest Man Aliko Dangote Explores New Opportunities With Dubai Sovereign Fund ICD http://www.opalesque.com/SWF_Briefing/?p=16048 http://www.opalesque.com/SWF_Briefing/?p=16048#comments Thu, 02 Oct 2014 01:46:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16048 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16048>Article Link</a> The Investment Corporation of Dubai (ICD), the sovereign fund owned by the government of Dubai, United Arab Emirates, is exploring further investment opportunities in Africa in collaboration with Dangote Group, the Nigerian conglomerate owned by Africa’s richest man, Aliko Dangote. (more…)

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Dubai’s Sovereign Fund Keen On More Deals With Dangote http://www.opalesque.com/SWF_Briefing/?p=16047 http://www.opalesque.com/SWF_Briefing/?p=16047#comments Thu, 02 Oct 2014 01:45:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16047 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16047>Article Link</a> Barely a month after it made its first investment in Africa’s largest economy following the purchase of a $300 million minority (1.4 percent) stake in Dangote Cement, Dubai’s sovereign wealth fund – Investment Corporation of Dubai (ICD) said it is planning to invest more in other sectors of Dangote Group. (more…)

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Daimler : KIA looks to build on $18bn German spend http://www.opalesque.com/SWF_Briefing/?p=16046 http://www.opalesque.com/SWF_Briefing/?p=16046#comments Thu, 02 Oct 2014 01:45:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16046 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16046>Article Link</a> The Kuwait Investment Authority (KIA), one of the world’s largest sovereign wealth funds and a long-term investor in German auto maker Daimler AG, wants to ramp up investments in Europe’s largest economy. (more…)

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Samruk Kazyna Privatisation Drive Offers New Investment Opportunities http://www.opalesque.com/SWF_Briefing/?p=16045 http://www.opalesque.com/SWF_Briefing/?p=16045#comments Thu, 02 Oct 2014 01:44:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16045 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16045>Article Link</a> Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund is moving forward with its plans to sell a sizable part of the enterprises it controls to the private sector. Both Kazakhstan-based and foreign investors will be able to buy shares in 106 companies the state-owned fund manages under the so-called second wave of privatisation. The estimated value of assets to be offered up for sale is $9 billion. (more…)

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Norway’s Central Bank to Buy Kroner for Oil Fund in October http://www.opalesque.com/SWF_Briefing/?p=16044 http://www.opalesque.com/SWF_Briefing/?p=16044#comments Wed, 01 Oct 2014 03:36:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16044 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16044>Article Link</a> In an unusual move, Norway’s central bank said on Tuesday it would buy Norwegian kroner and sell foreign exchange in the market in October on behalf of the country’s sovereign-wealth fund, sending the krone higher against the euro. (more…)

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Nigeria’s Opposition Wants to Scrap Sovereign, Oil Funds http://www.opalesque.com/SWF_Briefing/?p=16043 http://www.opalesque.com/SWF_Briefing/?p=16043#comments Wed, 01 Oct 2014 03:35:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16043 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16043>Article Link</a> Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February. “We’re going to put a stop to them,” Lai Mohammed, a spokesman for the All Progressives Congress, or APC, said in an interview in London yesterday. “The sovereign wealth fund and the excess crude account are illegal.” (more…)

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SWF: Between constitutional and development imperatives http://www.opalesque.com/SWF_Briefing/?p=16042 http://www.opalesque.com/SWF_Briefing/?p=16042#comments Wed, 01 Oct 2014 03:34:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16042 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16042>Article Link</a> The legality and desirability of the institution of a Sovereign Wealth Fund (SWF) in Nigeria are not one and the same thing. While determination of the former is an exclusive preserve of the law court and at the moment sub judice, the latter which is not a subject of dispute before any adjudicating body is, however, the focus of this piece. (more…)

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CIC cuts stake in Noble Group http://www.opalesque.com/SWF_Briefing/?p=16041 http://www.opalesque.com/SWF_Briefing/?p=16041#comments Wed, 01 Oct 2014 03:34:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16041 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16041>Article Link</a> China Investment Corp sold part of its stake in Noble Group, sending shares in the commodity trader tumbling and sparking fears the mainland sovereign wealth fund will eventually move to offload most of its holding. CIC, the second-biggest shareholder, sold shares equivalent to 4.5 per cent of the commodity trader. (more…)

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CIC selling part of Noble Group stake, fans fear of more sales http://www.opalesque.com/SWF_Briefing/?p=16040 http://www.opalesque.com/SWF_Briefing/?p=16040#comments Wed, 01 Oct 2014 03:34:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16040 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16040>Article Link</a> China Investment Corp will sell part of its stake in Noble Group Ltd at a 5 percent discount, sending shares in the commodity trader tumbling and sparking fears that CIC would eventually move to offload most of its holding. (more…)

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South Korea’s Sovereign Fund to Expand Alternative Asset Allocation http://www.opalesque.com/SWF_Briefing/?p=16039 http://www.opalesque.com/SWF_Briefing/?p=16039#comments Wed, 01 Oct 2014 03:33:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16039 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16039>Article Link</a> Korea Investment Corp ., South Korea’s $72 billion sovereign-wealth fund, plans to increase allocation to alternative assets to up to 40% from a current 10% in the next few years, according to Chairman and Chief Executive Hongchul Ahn. (more…)

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RAC’s owners strike deal with Malaysian investment fund http://www.opalesque.com/SWF_Briefing/?p=16038 http://www.opalesque.com/SWF_Briefing/?p=16038#comments Wed, 01 Oct 2014 03:33:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16038 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16038>Article Link</a> Global asset manager, The Carlyle Group, has announced it has entered into an agreement with GIC, Singapore’s sovereign wealth fund, to become a co-shareholder in RAC. Following the transaction, Carlyle and GIC will jointly own a majority stake in the business with RAC management holding the remaining shares. (more…)

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Probe into 1MDB financial misconduct now, says anti-graft group http://www.opalesque.com/SWF_Briefing/?p=16037 http://www.opalesque.com/SWF_Briefing/?p=16037#comments Wed, 01 Oct 2014 03:33:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16037 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16037>Article Link</a> Parliament’s Public Accounts Committee (PAC) must begin an immediate inquiry into the troubled sovereign fund 1Malaysia Development Bhd (1MDB), an anti-corruption watch group said. (more…)

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Khazanah confirms listing of its theme park operator http://www.opalesque.com/SWF_Briefing/?p=16036 http://www.opalesque.com/SWF_Briefing/?p=16036#comments Wed, 01 Oct 2014 03:33:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16036 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16036>Article Link</a> Khazanah Nasional Bhd has confirmed its intention to list its entertainment park operator Themed Attractions and Resorts Sdn Bhd on the Main Market of Bursa Malaysia. Khazanah MD Tan Sri Azman Mokhtar however said the listing will not take place this year, as more works has to be carried out prior to the listing, thus the remaining three months in 2014 is insufficient. (more…)

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Private equity managers face growing competition for deals http://www.opalesque.com/SWF_Briefing/?p=16035 http://www.opalesque.com/SWF_Briefing/?p=16035#comments Wed, 01 Oct 2014 03:32:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16035 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16035>Article Link</a> Last week, Singaporean sovereign wealth fund GIC, one of the world’s biggest and oldest backers of private equity funds, agreed to buy nearly half of RAC from its owner, Carlyle, in a deal valuing the company at more than £2bn including debt. The bid, which derailed plans to list the UK roadside recovery specialist, followed approaches from Apax, CVC, Cinven, Blackstone and Charterhouse, people with knowledge of the situation said. (more…)

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CIC to Cut Stake in Singapore Commodity Trader Noble Group http://www.opalesque.com/SWF_Briefing/?p=16034 http://www.opalesque.com/SWF_Briefing/?p=16034#comments Tue, 30 Sep 2014 03:56:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16034 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16034>Article Link</a> Sovereign-wealth fund China Investment Corp. is seeking to raise up to 405 million Singapore dollars (US$318 million) by selling a portion of its stake in Singapore-listed commodity trader Noble Group, people with knowledge of the deal said Monday. (more…)

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Temasek Holdings units take stake in homegrown shoe firm Star 360 http://www.opalesque.com/SWF_Briefing/?p=16033 http://www.opalesque.com/SWF_Briefing/?p=16033#comments Tue, 30 Sep 2014 03:55:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16033 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16033>Article Link</a> Heliconia Capital and Pavilion Capital, both units of Temasek Holdings, have made an investment in local firm Star 360, a distributor and retailer of sports and fashion footwear, apparel and accessories. None of the parties have disclosed the amount of the investment. (more…)

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Khazanah will not list Themed Attractions this year http://www.opalesque.com/SWF_Briefing/?p=16032 http://www.opalesque.com/SWF_Briefing/?p=16032#comments Tue, 30 Sep 2014 03:55:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16032 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16032>Article Link</a> Khazanah Nasional Bhd will not be listing its wholly-owned subsidiary Themed Attractions and Resorts Sdn Bhd (TAR) this year but would like its leisure and tourism arm to be listed eventually, said Khazanah managing director Tan Sri Azman Mokhtar. (more…)

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Khazanah hopes govt enacts MAS Act early next year http://www.opalesque.com/SWF_Briefing/?p=16031 http://www.opalesque.com/SWF_Briefing/?p=16031#comments Tue, 30 Sep 2014 03:53:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16031 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16031>Article Link</a> Khazanah Nasional Bhd hopes the government will enact the “MAS Act” early next year, before MAS NewCo is set up in the middle of next year. According to the RM6 billion recovery plan for MAS, its shares will be delisted from Bursa Malaysia by year-end and a new company (Newco) will be created to carry on the airline’s business. (more…)

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Indonesia’s Bumi Resources cuts rights issue size, in talks with creditors http://www.opalesque.com/SWF_Briefing/?p=16030 http://www.opalesque.com/SWF_Briefing/?p=16030#comments Tue, 30 Sep 2014 03:53:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16030 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16030>Article Link</a> PT Bumi Resources Tbk , Indonesia’s biggest coal miner, has cut its planned rights issue, saying it sees an opportunity to negotiate with some creditors on its debt. In June, Bumi said it will issue up to 32.2 billion shares to raise 8.05 trillion rupiah ($664 million), mainly to pay off its debt to creditors, including Chinese sovereign wealth fund China Investment Corp. (more…)

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Angola in the fast lane http://www.opalesque.com/SWF_Briefing/?p=16029 http://www.opalesque.com/SWF_Briefing/?p=16029#comments Tue, 30 Sep 2014 03:53:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16029 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16029>Article Link</a> Oil wealth has propelled Angola’s fast-growing economy, but it could be heading for a crash without Government and banking sector reforms. (more…)

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Fitch expects further moderate growth of Azerbaijan’s sovereign assets http://www.opalesque.com/SWF_Briefing/?p=16028 http://www.opalesque.com/SWF_Briefing/?p=16028#comments Tue, 30 Sep 2014 03:52:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16028 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16028>Article Link</a> Azerbaijan’s sovereign balance sheet is one of the strongest of any rated sovereign and underpins the rating, the statement says. The State Oil Fund of Azerbaijan (SOFAZ) reached USD37.6bn in 1H14. Adding USD15bn in foreign-exchange reserves at the Central Bank of Azerbaijan (CBAR), the sovereign’s gross external assets are equivalent to 69% of GDP. (more…)

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Reformed Irish SWF could still be used to pre-fund pension liabilities http://www.opalesque.com/SWF_Briefing/?p=16027 http://www.opalesque.com/SWF_Briefing/?p=16027#comments Tue, 30 Sep 2014 03:52:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16027 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16027>Article Link</a> Using the Ireland Strategic Investment Fund’s (ISIF) assets to pre-fund the country’s pension liabilities should not be ruled out, the head of the Irish debt management office has said. (more…)

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Alberta Heritage Savings Trust Fund up for debate http://www.opalesque.com/SWF_Briefing/?p=16026 http://www.opalesque.com/SWF_Briefing/?p=16026#comments Tue, 30 Sep 2014 03:51:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16026 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16026>Article Link</a> The endowment funds created by former premier Alison Redford will be up for debate next week when Albertans voice their opinion on the province’s savings. The Legislative Assembly of Alberta’s Standing Committee on the Alberta Heritage Savings Trust Fund will hold a public meeting to “discuss changes” to the $17.5 billion fund and it’s endowments on Oct. 9 at 4:30 p.m. inside the University of Alberta’s Lister Centre. (more…)

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Suffering Wealth and Sovereign Wealth http://www.opalesque.com/SWF_Briefing/?p=16025 http://www.opalesque.com/SWF_Briefing/?p=16025#comments Mon, 29 Sep 2014 03:30:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16025 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16025>Article Link</a> The Excess Crude Account (ECA), which was set up by former President Olusegun Obasanjo under the inspiration of Dr. Ngozi Okonjo-Iweala in 2004, was the saving grace. Nigeria would have lapsed into a catastrophic economic downturn. Yet, when Obasanjo set up ECA, governors kicked against it, describing it as unconstitutional. All money must be shared, they said. (more…)

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Angola: Sovereign Fund President Checks Projects in Bungo http://www.opalesque.com/SWF_Briefing/?p=16024 http://www.opalesque.com/SWF_Briefing/?p=16024#comments Mon, 29 Sep 2014 03:30:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16024 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16024>Article Link</a> The CEO of the Angola Sovereign Fund (FSDEA), José Filomeno dos Santos, assessed the implementation of agricultural projects funded by his institution in the municipality of Bungo, northern Uige province. (more…)

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Aabar wealth fund to work with Goldman Sachs on options for RHB stake http://www.opalesque.com/SWF_Briefing/?p=16023 http://www.opalesque.com/SWF_Briefing/?p=16023#comments Mon, 29 Sep 2014 03:30:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16023 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16023>Article Link</a> Aabar Investments PJSC, owned by Abu Dhabi’s sovereign wealth fund, is working with Goldman Sachs Group Inc. as it explores options for its stake in RHB Capital Bhd., according to people with knowledge of the matter. (more…)

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Ai to boost African pension, sovereign wealth fund by $1 trn http://www.opalesque.com/SWF_Briefing/?p=16022 http://www.opalesque.com/SWF_Briefing/?p=16022#comments Mon, 29 Sep 2014 03:30:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16022 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16022>Article Link</a> Africa Investor, Ai has announced its $1billion Africa investor Sovereign Infrastructure Investment Platform, for African pension and sovereign wealth funds – continually developed in close partnership with African pension and sovereign wealth funds.According to a statement after the summit, Ai , a leading international investment and communications group and US institutional investors, including sovereign wealth and pension funds, have agreed to invest in Africa’s fastest growing sectors and capital markets. (more…)

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With $100 billion in foreign reserves: is Libya’s central bank monopolizing the country’s economic potential? http://www.opalesque.com/SWF_Briefing/?p=16021 http://www.opalesque.com/SWF_Briefing/?p=16021#comments Mon, 29 Sep 2014 03:29:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16021 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16021>Article Link</a> Oil accounts for 95 percent of state revenue in Libya and 65 percent of the country’s Gross Domestic Product (GDP). The country has the largest oil reserves in Africa and the fifth largest in the world, with oil terminals scattered across the country but mainly concentrated in the northeast. With the Tripoli-based bank’s full control of these vital oil revenues, it has become a key, if not the supreme player in the ongoing civil war, according to well-placed sources and analysts. (more…)

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After 23 years in office, why was the UAE’s central bank governor replaced? http://www.opalesque.com/SWF_Briefing/?p=16020 http://www.opalesque.com/SWF_Briefing/?p=16020#comments Mon, 29 Sep 2014 03:29:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16020 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16020>Article Link</a> It was quite a shock to hear that the UAE has replaced the governor of its central bank, Sultan bin Nasser Al Suwaidi, who has been in the job for 23 years. His replacement is the CEO of the Emirates Investment Authority, a sovereign wealth fund, Mubarak Al Mansouri. (more…)

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Linklaters and Freshfields advise as GIC takes co-ownership of RAC with Carlyle http://www.opalesque.com/SWF_Briefing/?p=16019 http://www.opalesque.com/SWF_Briefing/?p=16019#comments Mon, 29 Sep 2014 03:29:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16019 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16019>Article Link</a> Linklaters and Freshfields Bruckhaus Deringer have taken on key roles as Singapore’s sovereign wealth fund GIC prepares to become co-owner of RAC, the UK’s second largest roadside assistance provider. (more…)

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1MDB land issue in Penang: Guan Eng demands answers http://www.opalesque.com/SWF_Briefing/?p=16018 http://www.opalesque.com/SWF_Briefing/?p=16018#comments Mon, 29 Sep 2014 03:28:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16018 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16018>Article Link</a> As more questions surface about the 1Malaysia Development Board (1MDB) and its lack of transparency, the Penang government is pushing for answers to the sovereign fund’s purchase of land in the state. With debts reportedly amounting to around RM38 billion after operating for five years, Chief Minister Lim Guan Eng said the people have the right to know how IMDB, which is the federal government investment arm, used its funds. (more…)

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Alaska Permanent Fund Corp. says it will stick with hedge funds http://www.opalesque.com/SWF_Briefing/?p=16017 http://www.opalesque.com/SWF_Briefing/?p=16017#comments Mon, 29 Sep 2014 03:28:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16017 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16017>Article Link</a> The Alaska Permanent Fund won’t be following the lead of California’s huge CalPERS public pension fund, which just made the startling decision to stop investing in hedge funds. But Mike Burns, executive director of the Alaska Permanent Fund Corp., which manages the Permanent Fund, says he understands why CalPERS managers did what they did. (more…)

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Main work completes on Georgian section of Baku-Tbilisi-Kars railway http://www.opalesque.com/SWF_Briefing/?p=16016 http://www.opalesque.com/SWF_Briefing/?p=16016#comments Mon, 29 Sep 2014 03:28:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16016 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16016>Article Link</a> A section between Marabda and Kartsakhi stations was constructed in Georgia as part of the Baku-Tbilisi-Kars (BTK) railway project, Azeryolservis JSC under the Azerbaijani Transport Ministry said. Its subdivision is the contractor of three of the four stages of the railway line construction on the territory of Georgia. (more…)

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Temasek in talks to buy stake in Indian firm http://www.opalesque.com/SWF_Briefing/?p=16015 http://www.opalesque.com/SWF_Briefing/?p=16015#comments Fri, 26 Sep 2014 02:50:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16015 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16015>Article Link</a> Three investment firms, including Singapore’s Temasek Holdings, are in advanced talks to buy a 30 per cent stake in the retail arm of India’s Aditya Birla Group for US$400 million (S$508 million) to US$500 million, two sources with direct knowledge of the matter told Reuters. (more…)

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Carlyle to Sell Stake in U.K.’s RAC to Singapore’s Sovereign-Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=16014 http://www.opalesque.com/SWF_Briefing/?p=16014#comments Fri, 26 Sep 2014 02:50:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16014 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16014>Article Link</a> Carlyle Group has agreed to sell a stake in U.K. roadside-assistant provider RAC to Singapore’s sovereign-wealth fund instead of selling shares in the company to the public as it previously intended. The deal values RAC at more than £2 billion ($3.3 billion), a person familiar with the transaction said. (more…)

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GIC Agrees to Become a Shareholder in RAC With Carlyle http://www.opalesque.com/SWF_Briefing/?p=16013 http://www.opalesque.com/SWF_Briefing/?p=16013#comments Fri, 26 Sep 2014 02:50:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16013 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16013>Article Link</a> Carlyle Group LP agreed to sell a stake in U.K. roadside assistance company RAC Ltd. to Singaporean sovereign wealth fund GIC Pte. The world’s second-largest manager of investment alternatives to stocks and bonds will become a joint shareholder with GIC, and RAC management will retain a minority stake, the two companies said in a statement today. The value of the transaction wasn’t disclosed. (more…)

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Are sovereign wealth funds changing strategy? (Video) http://www.opalesque.com/SWF_Briefing/?p=16012 http://www.opalesque.com/SWF_Briefing/?p=16012#comments Fri, 26 Sep 2014 02:49:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16012 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16012>Article Link</a> Alasdair Warren, head of financial sponsors group for EMEA at Goldman Sachs, says that sovereign wealth funds are changing their investment strategies, after GIC acquired 50 percent of RAC. (more…)

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KIC to double its research staff http://www.opalesque.com/SWF_Briefing/?p=16011 http://www.opalesque.com/SWF_Briefing/?p=16011#comments Fri, 26 Sep 2014 02:49:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16011 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16011>Article Link</a> Korea Investment Corp., the country’s $76 billion sovereign wealth fund, plans to almost double its research staff to pick stocks for two new funds that may eventually comprise 30 percent of its equity holdings. (more…)

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Kazakh envoy meets with Director of Abu Dhabi Fund for Development http://www.opalesque.com/SWF_Briefing/?p=16010 http://www.opalesque.com/SWF_Briefing/?p=16010#comments Fri, 26 Sep 2014 02:49:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16010 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16010>Article Link</a> On September 24, 2014 Ambassador of Kazakhstan to the UAE Kairat Lama Sharif met with Mr. Mohammed Saif Al Suwaidi, the Director General of the Abu Dhabi Fund for Development (ADFD. During the meeting Kairat Lama Sharif briefed on the process of reform of the “Samruk-Kazyna” Fund in several key areas, in accordance with the best international practices and advanced international experiences of sovereign wealth funds. (more…)

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Zimbabwe: Senate rejects Mugabe as trustee of Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=16009 http://www.opalesque.com/SWF_Briefing/?p=16009#comments Fri, 26 Sep 2014 02:49:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16009 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16009>Article Link</a> Senate passed the Sovereign Wealth Fund (SWF) of Zimbabwe Bill with some Senators demanding the removal of a clause which said President Robert Mugabe should be a trustee of the fund. The Bill, which creates a fund to be set aside for use during crises, was brought before Senate by Finance deputy minister Samuel Undenge. (more…)

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Nigeria: Suit On Sovereign Fund Adjourned Till Jan 26 http://www.opalesque.com/SWF_Briefing/?p=16008 http://www.opalesque.com/SWF_Briefing/?p=16008#comments Fri, 26 Sep 2014 02:48:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16008 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16008>Article Link</a> The Supreme Court on Tuesday said the legal tussle over the creation of the Sovereign Wealth Fund (SWF) was not ready for hearing. The case has been fixed for January 26, 2015. Presiding judge, Justice Mahmud Mohammed, said the case was not ripe for hearing because vital documents were not in the case file. (more…)

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2014 Permanent Fund check set at $1,884 http://www.opalesque.com/SWF_Briefing/?p=16007 http://www.opalesque.com/SWF_Briefing/?p=16007#comments Fri, 26 Sep 2014 02:48:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16007 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16007>Article Link</a> Gov. Sean Parnell today announced that the 2014 Permanent Fund Dividend will be $1,884. The first dividends will be paid on Oct. 2, when approximately 510,731 applicants will receive a direct deposit into their bank account, and 88,186 will be mailed a check. Paper checks will enter the U.S. mail system on Oct. 2 from Juneau. (more…)

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Korea’s Wealth Fund Doubling Staff to Pick Buffett-Style Stocks http://www.opalesque.com/SWF_Briefing/?p=16006 http://www.opalesque.com/SWF_Briefing/?p=16006#comments Thu, 25 Sep 2014 03:10:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16006 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16006>Article Link</a> Korea Investment Corp., the country’s $76 billion sovereign wealth fund, plans to almost double its research staff to pick stocks for two new funds that may eventually comprise 30 percent of its equity holdings. (more…)

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Temasek ‘a company like no other’ http://www.opalesque.com/SWF_Briefing/?p=16005 http://www.opalesque.com/SWF_Briefing/?p=16005#comments Thu, 25 Sep 2014 03:10:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16005 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16005>Article Link</a> Its beginnings were modest and fraught with risk but when Temasek Holdings held its 40th anniversary dinner last night, it had become, in the words of President Tony Tan Keng Yam, “a company like no other”. (more…)

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Temasek arm signs 2nd LNG purchase contract http://www.opalesque.com/SWF_Briefing/?p=16004 http://www.opalesque.com/SWF_Briefing/?p=16004#comments Thu, 25 Sep 2014 03:09:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16004 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16004>Article Link</a> Singapore state investor Temasek-owned Pavilion Energy has signed a second long-term contract to buy liquefied natural gas (LNG) for trading and supply to Asia, taking another step towards its goal of becoming a global company in the fuel. (more…)

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Singapore wealth fund nears deal to buy 50% of RAC from Carlyle http://www.opalesque.com/SWF_Briefing/?p=16003 http://www.opalesque.com/SWF_Briefing/?p=16003#comments Thu, 25 Sep 2014 03:09:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16003 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16003>Article Link</a> GIC, the Singapore-based sovereign wealth fund, is close to an agreement to buy 50 per cent of RAC from its owner, buyout fund manager Carlyle, in a move that is expected to derail plans to list the British roadside recovery company. (more…)

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GIC in talks to buy Carlyle’s RAC for over S$4 bln: Report http://www.opalesque.com/SWF_Briefing/?p=16002 http://www.opalesque.com/SWF_Briefing/?p=16002#comments Thu, 25 Sep 2014 03:09:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16002 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16002>Article Link</a> Singapore’s sovereign wealth fund, GIC , is in talks to buy the British roadside rescue business RAC from US private equity firm Carlyle Group for more than 2 billion pounds (S$4.1 billion), Sky News reported, citing a person familiar with the talks. (more…)

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Ireland’s new SWF will take ‘years’ to deploy capital fully, says NTMA head http://www.opalesque.com/SWF_Briefing/?p=16001 http://www.opalesque.com/SWF_Briefing/?p=16001#comments Thu, 25 Sep 2014 03:09:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16001 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16001>Article Link</a> The Ireland Strategic Investment Fund (ISIF) will take up to four years to re-deploy its €7bn in assets, according to the head of the National Treasury Management Agency (NTMA). (more…)

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Biggest Wealth Fund CEO Sticks to Norway in Own Investments http://www.opalesque.com/SWF_Briefing/?p=16000 http://www.opalesque.com/SWF_Briefing/?p=16000#comments Thu, 25 Sep 2014 03:08:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16000 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16000>Article Link</a> As head of the world’s biggest sovereign wealth fund Yngve Slyngstad has invested in more than 80 countries. Yet when placing his own money, he sticks to his home country Norway. (more…)

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Norway now second-largest buyer of US commercial real estate http://www.opalesque.com/SWF_Briefing/?p=15999 http://www.opalesque.com/SWF_Briefing/?p=15999#comments Thu, 25 Sep 2014 03:08:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15999 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15999>Article Link</a> Norway, surprisingly, now ranks second among foreign U.S. commercial real estate buyers, topped only by Canada. The sovereign fund that manages the country’s substantial oil wealth made a play for Blackstone Group’s 1095 Sixth Avenue just last week, in a deal that is expected to fetch up to $2.25 billion. (more…)

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Norwegian oil fund plans gradual shift to reference portfolio http://www.opalesque.com/SWF_Briefing/?p=15998 http://www.opalesque.com/SWF_Briefing/?p=15998#comments Thu, 25 Sep 2014 03:08:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15998 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15998>Article Link</a> Norway’s Government Pension Fund Global (GPFG) is to replace its current strategic index with a new benchmark meant to offer greater flexibility. The new approach, which Yngve Slyngstad, chief executive of Norges Bank Investment Management (NBIM), said stemmed from a recent review of the fund’s approach to active management, would also encourage “gradual” growth of private investments while allowing for a consistent benchmark approach across all holdings. (more…)

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NMSIC Onboard: Sovereign Wealth Funds Adopting Smart Beta http://www.opalesque.com/SWF_Briefing/?p=15997 http://www.opalesque.com/SWF_Briefing/?p=15997#comments Thu, 25 Sep 2014 03:08:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15997 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15997>Article Link</a> The New Mexico State Investment Council (NMSIC) has embarked on a search for one or more smart beta managers to manage US$ 1 billion. The search is for two different types of smart beta managers: smart beta managers focusing on low volatility, and smart beta managers focusing on fundamental value strategies. (more…)

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Norway’s opposition wants wealth fund to invest in infrastructure http://www.opalesque.com/SWF_Briefing/?p=15996 http://www.opalesque.com/SWF_Briefing/?p=15996#comments Wed, 24 Sep 2014 01:29:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15996 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15996>Article Link</a> Norway’s $870-billion sovereign wealth fund should be allowed to directly invest in infrastructure such as wind farms and solar plants, the country’s opposition Labour party will propose, a plan gaining the support of the majority of parties. (more…)

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Norway Jumps to No. 2 Foreign Buyer of U.S. Real Estate http://www.opalesque.com/SWF_Briefing/?p=15995 http://www.opalesque.com/SWF_Briefing/?p=15995#comments Wed, 24 Sep 2014 01:29:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15995 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15995>Article Link</a> Norway has vaulted to the top ranks of foreign U.S. commercial real estate buyers as its $870 billion sovereign-wealth fund, the world’s largest, acquires buildings from New York to San Francisco. (more…)

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SOFAZ to gain $200 bln in coming years http://www.opalesque.com/SWF_Briefing/?p=15994 http://www.opalesque.com/SWF_Briefing/?p=15994#comments Wed, 24 Sep 2014 01:29:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15994 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15994>Article Link</a> Azerbaijan’s state oil fund SOFAZ, an entity that accumulates and manages the country’s oil and gas revenues, is expected to gain $200 billion in the coming years.The news was announced by Executive Director of SOFAZ Shahmar Movsumov on September 20. (more…)

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RAC owners in sales talks with Singaporean fund http://www.opalesque.com/SWF_Briefing/?p=15993 http://www.opalesque.com/SWF_Briefing/?p=15993#comments Wed, 24 Sep 2014 01:29:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15993 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15993>Article Link</a> The private equity owner of RAC has decided to ditch a stock market float in favour of a £2bn-plus sale to Singapore’s sovereign wealth fund. Carlyle, which bought the breakdown business for £1bn from insurer Aviva three years ago, is locked in talks with Government Investment Corporation (GIC) of Singapore. (more…)

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