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Sovereign Wealth Funds Briefing 22.Dec 2014

Posted on 22 December 2014 by VRS |  Email |Print

As of December 1, 2014, the revenues of the State Oil Fund of Azerbaijan from the implementation of the Shah Deniz oil and gas condensate field project in the Azerbaijani sector of the Caspian Sea amounted to about $2.088 billion since 2007, the SOFAZ told Trend.
Shah Deniz’s reserves are estimated at 1.2 trillion cubic meters of gas. A contract was signed on June 4, 1996 to develop the Shah Deniz offshore field. SOFAZ received $491 million within the Shah Deniz project from January 1 to December 1, 2014, SOFAZ reported………………………………………..Full Article: Source

Posted on 22 December 2014 by VRS |  Email |Print

The Norwegian finance ministry has finalised new guidelines for responsible investment at the Government Pension Fund Global (GPFG), which include setting up a new advisory Council of Ethics.
In April this year, the Ministry of Finance said in its proposals on the matter that it was disbanding the existing Council of Ethics, which had been in place for 10 years, and that current ethical exclusion criteria would be integrated into the management mandate given to Norges Bank………………………………………..Full Article: Source

Posted on 22 December 2014 by VRS |  Email |Print

Bahrain’s sovereign wealth fund Mumtalakat has appetite and funds available for investment, its top official has said. Chief executive Mahmood Al Kooheji said he expects next year to be positive for the GCC region, Bahrain and the company which will build on continuing good performance of its portfolio companies.
‘We continue to take a prudent approach to new investments and constantly monitor our assets and will consider new investments to expand the portfolio and monetisation initiatives if and when appropriate,’ Mr Al Kooheji said. He said ‘the independent holding company mandated with growing the wealth of Bahrain’ would continue to look into ‘local, regional and international investment opportunities that play to our points of strength……………………………………….Full Article: Source

Posted on 22 December 2014 by VRS |  Email |Print

Oman’s State General Reserve Fund (SGRF) has boosted its buying of shares in the local stock market as prices have slid to attractive levels, the fund’s executive president said.
The Muscat Securities Market’s (MSM) main index is down 20 percent from its November peak, hit by concern that the plunge in global oil prices will crimp government spending and therefore corporate profit growth………………………………………..Full Article: Source

Posted on 22 December 2014 by VRS |  Email |Print

HKBN Ltd, the second-largest broadband Internet provider in Hong Kong, filed late on Friday for an initial public offering, with shareholders including private equity firm CVC Capital Partners Ltd set to cut their stakes as part of the deal.
Singapore’s sovereign wealth fund GIC Pte Ltd, AlpInvest Partners, a unit of Carlyle Group LP, HKBN Chief Executive William Yeung and a company holding the stakes of several HKBN employees will also sell part of their stakes, the filing showed without giving a detailed breakdown………………………………………..Full Article: Source

Posted on 22 December 2014 by VRS |  Email |Print

China’s top smartphone seller Xiaomi Corp. is raising more than USD 1 billion in a fresh round of funding, a move which would raise its valuation above $45 billion. It was being led by tech investment fund All—Stars Investment and also involved were current shareholders Russian investment firm DST Global and Singapore sovereign—wealth fund GIC, the report said.
Private—equity firm Yunfeng Capital which is affiliated with Alibaba Group Holding Ltd. chair Jack Ma, was also taking part………………………………………..Full Article: Source

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