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Sovereign Wealth Funds Briefing 17.Sep 2014

Posted on 17 September 2014 by VRS |  Email |Print

Norway’s sovereign-wealth fund, the world’s largest, agreed to buy stakes in three prime U.S. office buildings for about $1.5 billion, extending a real estate shopping spree as it seeks higher-yielding assets.
Affiliates of Norges Bank Investment Management, which manages the Norwegian government’s global pension fund, is acquiring 45 percent interests the buildings from Boston Properties Inc. , the seller said yesterday in a statement. The properties are 601 Lexington Ave. in New York and the Atlantic Wharf Office Building and 100 Federal Street in Boston…………………………………Full Article: Source

Posted on 17 September 2014 by VRS |  Email |Print

The turmoil that is engulfing Ukraine and chilling ties between Russia and the West could have an unexpected silver lining for Singapore as companies caught up in the crossfire look East. A change in direction appears especially enticing for giant lender Sberbank.
Sberbank is no stranger to Singapore, having worked with major local institutions like Temasek Holdings and sovereign wealth fund GIC, which is one of its largest foreign investors…………………………………Full Article: Source

Posted on 17 September 2014 by VRS |  Email |Print

Its corporate tagline “Forging partnerships, advancing growth” is clearly visible on the hoarding boards at the site of the future Tun Razak Exchange. As work goes on unassumingly to lay the groundwork for Malaysia’s international financial district, the world is watching anxiously to see the kind of growth its master developer 1Malaysia Development Bhd (1MDB) will be advancing.
In the two years since the project has been launched, the relocation process has been smooth, the ground work is in progress, the MRT station on its site begins to take shape, and it has recently announced Lend Lease of Australia and Exim Bank of China as investors. 1MDB’s substantial energy assets have also attracted scrutiny, especially with all the talk of imminent listing…………………………………Full Article: Source

Posted on 17 September 2014 by VRS |  Email |Print

Xtron was set-up in 2003 by three church members to run the music career of pastor Kong Hee’s wife, Sun Ho, as well as to own and manage future properties the church could use. Court documents revealed the minutes of an extraordinary general meeting on 10 August 2008, in which church founder Kong described Xtron as being the church’s “own GIC”, Channel NewsAsia reported.
GIC is Singapore’s sovereign wealth fund that preserves and invests the country’s foreign reserves for the future. Kong added that Xtron was the result of church members “doing things for the purpose of wanting to fulfil the vision of [the] church”, and he also mentioned at that meeting that the company needed to be “friendly” towards the church, referring to the priority given to the church to rent buildings that Xtron owned…………………………………Full Article: Source

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