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Sovereign Wealth Funds Briefing 30.Nov 2016

Posted on 30 November 2016 by VRS |  Email |Print

Among the largest sovereign wealth funds, oil- and gas-related revenues account for just less than 57% of total assets, including four of the top five funds largest by assets, derive their assets from their energy industry. Norway’s Government Pension Fund Global sits atop the list with $885 billion in assets.
While Norway is not a member of OPEC, the fund will be directly impacted by the meeting results. The fund has been faced with budget shortfalls due to lower revenues and low investment returns; its oil production has approached five-year highs during 2016………………………………………..Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

A unit of Malaysian sovereign wealth fund Khazanah Nasional is selling around USD80 million worth of shares in Indian private lender IDFC Bank, according to a term sheet seen by Reuters on Tuesday.
Sipadan Investments (Mauritius) Ltd, the Khazanah arm, is selling about 80.4 million shares in IDFC Bank in a block trade, with a price range of 68.25 rupees to 71.10 rupees apiece, the term sheet showed. The deal will be priced on Wednesday………………………………………..Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

The New Zealand Super Fund’s reinsurance allocation remained stable at about $200mn in 2016. In its annual report, the sovereign wealth fund disclosed an NZ$75mn ($53mn) allocation to Elementum Advisors and a NZ$213mn investment with Leadenhall Capital Partners as at 30 June, around the same level it had invested with the funds at the same point last year.
The reinsurance and life settlements allocation represented 2.4 percent of its total NZ$30.1bn portfolio as of June………………………………………..Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

Queensland Investment Corporation has signed a memorandum of understanding for strategic co-operation with one of China’s biggest asset managers — Ping An Asset Management Company — to tap the rapid growth in Chinese investment capital.
This is the first time QIC has entered into a MOU with a Chinese asset manager, although it has led a consortium that includes China’s $200bn sovereign wealth fund CIC to win the Port of Melbourne bid in September………………………………………..Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

GPT Group’s acquisitive wholesale office fund is in talks to boost its interest in Brisbane landmark One One One Eagle Street with a play that could leave it with a two-thirds stake in the near $900 million tower in train.
The project won the backing of Middle Eastern sovereign wealth fund the Abu Dhabi Investment Authority, and it, GPT, and its wholesale fund each held one-third stakes. he unlisted trust is now believed to be exercising an option over the ADIA interest, but the manager declined to comment………………………………………..Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

Saudi Arabia’s sovereign-wealth fund said Monday that it will acquire a 50% stake in an investment company led by Emirati businessman Mohamed Alabbar. The deal comes after Adeptio AD Investments SPC Ltd. last month completed the purchase of a majority stake in Kuwait’s Americana, one of the Middle East’s largest operators of fast-food chains including KFC, TGI Friday’s Inc. and Pizza Hut.
The Public Investment Fund said the transaction is part of a plan to “increase investment in non-oil sectors and build a portfolio that has greater geographical and asset class diversification.”……………………………………….Full Article: Source

Posted on 30 November 2016 by VRS |  Email |Print

Saudi Arabia’s top sovereign wealth fund, the Public Investment Fund (PIF), plans to buy a major stake in Adeptio, the Gulf-based investment firm which controls Kuwait Food Co (Americana) , the PIF said on Monday.
The PIF would buy 50 percent of Adeptio from United Arab Emirates-based billionaire Mohamed Alabbar, who would keep the rest of Adeptio. It did not give financial details of the deal. Last month, a subsidiary of Adeptio completed the acquisition of a 67 percent stake in Americana from the Kharafis, a wealthy Kuwaiti merchant family, for about $2.35 billion. Adeptio now plans a mandatory tender offer for remaining shares in Americana held by public shareholders………………………………………..Full Article: Source

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