Opalesque Sovereign Wealth Funds Briefing

Real estate overtakes commodities as top sovereign fund asset

VRS — Fri, 17 May 2013 01:22:47 +0000

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Norwegian sovereign wealth fund investing $4bln in India

VRS — Fri, 17 May 2013 01:22:24 +0000

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What Norway did with its oil and we didn’t

VRS — Fri, 17 May 2013 01:22:05 +0000

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Qatar buys 40pct stake in Milan’s Porta Nuova business district

VRS — Fri, 17 May 2013 01:21:52 +0000

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ADIA appoints new infrastructure division head

VRS — Fri, 17 May 2013 01:21:36 +0000

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Nigeria: Three tiers of govt share N722bln in April, as excess crude account rises to N5.27bln

VRS — Fri, 17 May 2013 01:21:09 +0000

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Trinidad & Tobago among top 10 in resource governance

VRS — Fri, 17 May 2013 01:20:54 +0000

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Australia’s Future Fund investment wizardry

VRS — Thu, 16 May 2013 01:25:02 +0000

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Watchdog raises fears over wealth funds

VRS — Thu, 16 May 2013 01:24:38 +0000

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Adia continues hiring spree with ex-Deutsche infrastructure chief

VRS — Thu, 16 May 2013 01:24:19 +0000

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The Nigerian governors’ chess game

VRS — Thu, 16 May 2013 01:24:04 +0000

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Severn Trent rejects takeover approach by Kuwait-led group

VRS — Thu, 16 May 2013 01:23:48 +0000

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Severn Trent bid leads utilities higher

VRS — Thu, 16 May 2013 01:23:32 +0000

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State could tap Alabama Trust Fund again in bond issue for National Guard armories

VRS — Thu, 16 May 2013 01:23:16 +0000

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30 biggest sovereign wealth funds in the world

VRS — Thu, 16 May 2013 01:23:01 +0000

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Wealth funds join charge into property assets

VRS — Wed, 15 May 2013 03:48:32 +0000

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Severn Trent rejects takeover approach from KIA and Canada’s Borealis

VRS — Wed, 15 May 2013 03:47:05 +0000

Severn Trent has rejected an approach from a consortium of Canadian and Kuwaiti investors, saying the £5.3bn proposal is too low. The FTSE 100 company, which supplies water to more than 4.2m households, met with Canada’s Borealis, the Kuwait Investment Office and the Universities Superannuation Scheme yesterday, causing Severn Trent’s shares to jump 14pc. (more…)

Kuwait-led group in takeover approach for U.K. water utility

VRS — Wed, 15 May 2013 03:46:55 +0000

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Here is a portfolio model that works

VRS — Wed, 15 May 2013 03:45:05 +0000

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Palestinian Investment Fund needs reform

VRS — Wed, 15 May 2013 03:45:04 +0000

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Serbian April foreign-exchange reserves fall on debt repayment

VRS — Wed, 15 May 2013 03:43:58 +0000

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Green sovereign wealth

admin — Wed, 15 May 2013 03:43:36 +0000

At the end of 2011, sovereign-wealth funds’ assets under management amounted to $3 trillion, following 237 direct investments worth $81 billion that year. Some experts even estimate SWFs’ assets to be worth $6 trillion. This means that SWFs, the avatars of state capitalism, are now twice as rich as the world’s hedge funds, the totems of liberal capitalism’s excesses. (more…)

East Timor’s oil fund totals US$13 bln in 1st quarter

VRS — Wed, 15 May 2013 03:33:28 +0000

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Superannuation Fund blacklists mining firms

VRS — Tue, 14 May 2013 04:47:37 +0000

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China Investment Corp picks new leader

VRS — Tue, 14 May 2013 04:47:25 +0000

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Changes tipped as CIC names new chairman

VRS — Tue, 14 May 2013 04:47:11 +0000

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Citic Capital, Temasek to buy Chinese software firm Asiainfo for $900 mln

VRS — Tue, 14 May 2013 04:46:59 +0000

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Qatar postpones float of GBP7.8bln investment firm

VRS — Tue, 14 May 2013 04:46:44 +0000

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Canary Wharf, Qatar win backing for London Shell Centre Project

VRS — Tue, 14 May 2013 04:46:35 +0000

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SWFs building up to go it alone

VRS — Tue, 14 May 2013 04:46:06 +0000

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Sovereign wealth funds in commodity-rich fragile states

VRS — Tue, 14 May 2013 04:45:20 +0000

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Shanghai vice-mayor set for China Investment Corp

VRS — Mon, 13 May 2013 00:56:46 +0000

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Sovereign wealth funds in GCC focus more on local investments

VRS — Mon, 13 May 2013 00:56:31 +0000

While they continue to reduce dependence on energy resources, GCC countries are increasingly spending locally and redirecting a greater portion of foreign investments back into the region. According to a report by KPMG specialists released on Thursday, the shift is due to the debt problems afflicting the European Union and the Arab Spring, among other factors. (more…)

Saudi Kingdom can gain more from strong sovereign wealth fund

VRS — Mon, 13 May 2013 00:56:16 +0000

The Kingdom can reduce its dependence on oil revenues by creating a strong sovereign wealth fund (SWF), according to some experts. Although economic conditions in Saudi Arabia like money supply, foreign exchange reserves, external debt and domestic economic development are positive factors to create a sovereign wealth fund (SWF), Saudi Arabia still lags behind in this area, one of them said. (more…)

Mumtalakat in new push to bolster transparency

VRS — Mon, 13 May 2013 00:55:57 +0000

Bahrain Mumtalakat Holding Company, the investment arm of the kingdom, hosted a dinner for former heads of states and governments attending the 31st annual plenary meeting of the InterAction Council in the kingdom. “This initiative is a continuity of the legal and regulatory reforms to create a free, open and transparent environment that will enable business in Bahrain to grow,” said Mumtalakat chief executive Mahmood Al Kooheji. (more…)

Qatar postpones listing of $12bln investment company

VRS — Mon, 13 May 2013 00:55:18 +0000

A planned stock market listing for Doha Global Investment Co, a $12 billion Qatari investment company backed by assets from the Gulf state’s sovereign wealth fund, has been postponed, a senior bourse official said on Sunday. Qatar unveiled plans to create the investment company in February and said that sovereign fund Qatar Holding will transfer $3 billion of assets into the Doha Global, with a similar amount raised in an initial public offering (IPO) on the Qatar Exchange. (more…)

Dubai eyes $500mln distressed property fund

VRS — Mon, 13 May 2013 00:55:04 +0000

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Nigeria: Crashing oil prices might wipe out Nigeria’s Excess Crude Account balances, IMF warns

VRS — Mon, 13 May 2013 00:54:51 +0000

Despite a projection that Nigeria’s external reserves might rise to an average of between $80 and $85 billion in the next four years, the International Monetary Fund (IMF) has warned against the negative impact of the declining oil price in recent times, saying the country’s Excess Crude Account could be depleted under a year. The IMF’s Senior Resident Representative in Nigeria, Scott Rogers, gave the warning while presenting highlights of the Staff Report on the 2012 Article IV Consultation, to be published soon by the Fund. (more…)

Malaysia sovereign wealth fund backs $1.37bln China Galaxy IPO

VRS — Mon, 13 May 2013 00:54:33 +0000

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Neiman Marcus to pursue sovereign-fund buyer

VRS — Mon, 13 May 2013 00:54:19 +0000

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Local governments get windfall from Alabama Trust Fund

VRS — Mon, 13 May 2013 00:54:05 +0000

A recalculation of payments from the Alabama Trust Fund has left local governments with extra money to spend. The trust is fueled by royalties paid on sales of offshore oil and natural gas from state lands. A portion of those payments each year goes into the County and Municipal Government Capital Improvement Fund. Local governments receive payments from the fund each April based on population. (more…)

Temasek fails to back Standard Chartered executive directors

VRS — Fri, 10 May 2013 03:41:22 +0000

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Nigeria’s sovereign wealth fund: No deal yet between FG, states

VRS — Fri, 10 May 2013 03:41:03 +0000

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Supreme Court insists on political end to sovereign wealth’s dispute

VRS — Fri, 10 May 2013 03:40:49 +0000

Conceding to the Federal Government the last chance to resolve the case on the Sovereign Wealth Fund Account amicably, the Supreme Court in Abuja Thursday held that the dispute was political and would better be resolved out-of-court. The apex court expressed this view while speaking to the Federal Government’s legal team led by Chief Wole Olanipekun (SAN) when the matter came up. (more…)

Qatar’s sovereign wealth eyeing more trophy assets

VRS — Fri, 10 May 2013 03:40:13 +0000

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Qatar’s Katara in talks to buy ‘iconic’ hotels in London to Rome

VRS — Fri, 10 May 2013 03:40:01 +0000

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Dubai eyes $500mln distressed property fund by end-2013

VRS — Fri, 10 May 2013 03:39:41 +0000

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KPMG issues report on sovereign wealth funds

VRS — Fri, 10 May 2013 03:39:29 +0000

KPMG announced the publication of a report on the Sovereign Wealth Funds in the Middle East. The report represents a collection of articles prepared by KPMG specialists throughout the Middle East and provides insight into the recent trends and developments in SWF investment strategies specifically in the UAE, Qatar and Kuwait. The report also looks at the evolution of SWFs in the Middle East as the region looks to reduce its dependence on energy resources. (more…)

CIC returns to debt markets for Winchester House

VRS — Fri, 10 May 2013 03:39:12 +0000

China Investment Corporation (CIC), the country’s biggest sovereign wealth fund, has returned to the debt markets to seek to leverage last year’s acquisition of Winchester House in the City seeking around £160m in senior debt. CIC acquired the 310,000 sq ft Winchester House from KanAm, the German open-ended property fund manager, for £245m last November with agreed financing term sheets from Wells Fargo and Deutsche Pfandbriefbank (PBB). (more…)

Norway excludes Schweitzer-Maudit and Huabao from wealth fund

VRS — Thu, 09 May 2013 03:47:08 +0000

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Norway’s fund excludes RTL firms

VRS — Thu, 09 May 2013 03:45:22 +0000

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Pula Fund recovery inches forward

VRS — Thu, 09 May 2013 03:45:20 +0000

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Abu Dhabi financial zone to challenge Dubai

VRS — Thu, 09 May 2013 03:45:19 +0000

For a decade, Dubai has prospered as the Middle East’s top financial centre, handling tens of billions of dollars of oil wealth. That dominance may now be threatened as neighbouring Abu Dhabi demands a piece of the pie. Last week, Abu Dhabi outlined plans for a full-service financial zone on an island near its downtown area that will have its own administration, court system and tax incentives to lure banks and other firms from around the world. (more…)

Global Marketplace Abu Dhabi an attraction for asset managers

VRS — Thu, 09 May 2013 03:43:24 +0000

International financial firms mulling a move to Global Marketplace Abu Dhabi need little reminding of the large concentration of institutional wealth based in the emirate. Some of the world’s largest sovereign wealth funds and several state pension funds are located in the capital, not least of which is the Abu Dhabi Investment Authority (Adia). (more…)

Qatar Petroleum plans $50bln IPOs for units

VRS — Thu, 09 May 2013 03:42:35 +0000

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Four state-linked Qatar companies mull IPOs amid investment push

VRS — Thu, 09 May 2013 03:42:31 +0000

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Chairman wanted for wealth fund

VRS — Thu, 09 May 2013 03:41:57 +0000

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Angola to name new head of $5 bln wealth fund after cabinet reshuffle

VRS — Thu, 09 May 2013 03:41:38 +0000

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Future Fund misses big gains with Telstra sale

VRS — Thu, 09 May 2013 03:41:18 +0000

The Future Fund has released its portfolio update for March and overall it is an impressive result, with the fund gaining 3.4% for the quarter and increasing 10.6% for the nine months to 31 March 2013. Since being created by the Howard government in May 2006, the Future Fund has returned a respectable 5.7% per annum. (more…)

Angola to name new head of $5 bln wealth fund after cabinet reshuffle

VRS — Wed, 08 May 2013 02:40:25 +0000

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