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Sovereign Wealth Funds Briefing - Archive | October, 2009

Future Fund’s Murray says productivity needed to curb inflation

Posted on 23 October 2009 by VRS  |  Email |Print

From Bloomberg: Australia needs improvements in productivity to avert a quickening of inflation, according to David Murray, chairman of the nation’s A$64.3 billion ($59.5 billion) sovereign wealth fund.

“The only way out for governments is productivity improvement,” he said in a speech today to business leaders in Sydney. “If that’s not done, then we will run a huge risk of inflation.”……………………Full Article: Source

Temasek seeking to invest $1.8 bln in coming months

Posted on 23 October 2009 by VRS  |  Email |Print

From Marketwatch.com: Singapore’s state-owned investment fund Temasek Holdings Pte Ltd. is seeking to invest around $1.8 billion in the next few months in China, India, Mexico and Brazil, according to a media report Thursday.

The fund is currently vetting proposals from investment teams on how it could put the money to work, with the size of the investment to rise if a major opportunity comes along, The Wall Street Journal reported Thursday, citing people familiar with the situation…………………….Full Article: Source

Someone up there looking after Temasek

Posted on 23 October 2009 by VRS  |  Email |Print

From Pressrun.net: Someone up there is looking after Temasek Holdings. How else could the Singapore sovereign wealth fund raise $1.5 billion in global bond sales while investors were once again reminded of its Barclays bungle?

Qatar made a killing on Barclays unlike Temasek Holdings, reminds Reuters. It says:……………………Full Article: Source

RMAFC warns on Excess Crude Account withdrawals

Posted on 23 October 2009 by VRS  |  Email |Print

From Punchng.com: The Chairman, Revenue Mobilisation, Allocation and Fiscal Commission, Mr. Hamman Tukur, has warned against regular withdrawals from the Excess Crude Account.

The RMAFC boss who gave the warning on Wednesday night in Abuja when Governor of Edo State, Mr. Adams Oshiomhole, visited him, noted that the Excess Crude Account, which is the country‘s savings, had been drawn down from $27bn to about $7bn…………………….Full Article: Source

UAE’s Invest AD to launch $400mln fund for acquisitions

Posted on 23 October 2009 by VRS  |  Email |Print

From Reuters: Invest AD invests on behalf of the Abu Dhabi Investment Council, Abu Dhabi’s second sovereign wealth fund after the Abu Dhabi Investment Authority.

The global economic crisis and the lack of liquidity led to a steep drop in private equity activity across emerging markets…………………….Full Article: Source

Sainsbury bid from Qatar ‘unlikely,’ says Bofa Merrill Lynch

Posted on 23 October 2009 by VRS  |  Email |Print

From Bloomberg: Qatar’s sovereign wealth fund is “unlilkely” to bid for J Sainsbury Plc, BofA Merrill Lynch Global Research said.

Qatar “may be more flush with cash having crystallized 1.4 billion pounds of its Barclays” stake, analysts wrote in a report. “But we see speculation that it may bid for the rest of Sainsbury as non-credible.” ……………………Full Article: Source

CIC: Will seize beneficial investment opportunities

Posted on 22 October 2009 by VRS  |  Email |Print

From Dow Jones: China Investment Corp. will seize beneficial investment opportunities within reasonable levels of risk to create wealth for the country, the People’s Daily reported Thursday, citing Lou Jiwei, chairman of China’s sovereign wealth fund.

Lou said CIC has been getting good returns on its overseas investments, according to the newspaper, which is the mouthpiece of China’s Communist Party. The sovereign wealth fund’s investment decisions are driven by research and asset allocation, he said, according to the report……………………Full Article: Source

GDF Suez: China SWFs welcome as shareholders

Posted on 22 October 2009 by VRS  |  Email |Print

From Dow Jones: Chinese sovereign wealth funds would be welcome as minority shareholders of GDF Suez SA, Chief Operating Officer Jean-Francois Cirelli said Wednesday.

GDF Suez isn’t interested in buying the stake currently being offered in Poland’s ENEA , he also told reporters on the sidelines of a gas conference……………………Full Article: Source

Temasek Holdings Pte Ltd: Then and now

Posted on 22 October 2009 by VRS  |  Email |Print

From Temasekreview.com: Temasek Holdings is an Asian investment company owned by the Government of Singapore. It is governed by the Singapore Companies Act. They are also designated a Fifth Schedule Company under the Singapore Constitution in 1991.
Temasek is a member of the International Working Group of Sovereign Wealth Funds……………………Full Article: Source

ADIA invests in two Brazilian towers

Posted on 22 October 2009 by VRS  |  Email |Print

From Maktoob.com: Abu Dhabi’s largest sovereign wealth fund is investing in the construction of two towers in Rio de Janeiro, Brazil, the official Emirates news agency WAM reported late Tuesday.

United Arab Emirates Foreign Minister Sheikh Abdullah Al Nahyan inspected construction progress “on two towers being undertaken by Abu Dhabi Investment Authority (ADIA) in Rio de Janeiro” during a trip to Brazil in which officials from both countries discussed joint areas of economic cooperation, the news agency reported……………………Full Article: Source

Arabian Money: Gulf SWFs dump bank stocks

Posted on 22 October 2009 by VRS  |  Email |Print

From Arabianmoney.net: Qatar is following Abu Dhabi in downsizing its stake in the British bank Barclays, only acquired less than a year ago to help the bank survive the global financial crisis without state aid. It seems the sovereign wealth funds of the Gulf are going cool on banks.

You can hardly blame Qatar for choosing to cash in some of its chips. The gas-rich Gulf state will make a $1 billion profit on the deal and still retain more than seven per cent of Barclays stock as the bank’s largest shareholder……………………Full Article: Source

GE, French SWF likely to be in talks on Areva T&D bid

Posted on 22 October 2009 by VRS  |  Email |Print

From Dow Jones: The French sovereign wealth fund Fonds Strategique d’Investissement, or FSI, is likely to be talking to the consortium comprising U.S.-based General Electric Co. (GE) and private equity firm CVC Capital Partners about joining the group in a potential bid for French nuclear group Areva SA’s transmission and distribution business, people familiar with the situation said.

Joining up with the French sovereign wealth fund would enable General Electric’s bid to have more of a French flavor, since the French government is understood to be keen to see a French champion emerge as the buyer of T&D, one of these people said……………………Full Article: Source

Azerbaijan declined to place State Oil Fund’s assets in local banks

Posted on 22 October 2009 by VRS  |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) does not consider the issue of placement of country’s currency reserves in local banks.

“In compliance with the SOFAZ rules all the finances it runs are placed in overseas banks. The matter of the beginning of placement in domestic banks is not under consideration,” Movsumov stated……………………Full Article: Source

Australia Future Fund: Global banking sector still faces risks

Posted on 22 October 2009 by VRS  |  Email |Print

From Dow Jones: Australia’s Future Fund Chairman David Murray said Thursday the financial system has reached a point of “reasonable” stability but that the global banking sector still faces risks.

Murray, who was chief executive of Commonwealth Bank of Australia (CBA.AU) before taking the helm of Australia’s sovereign wealth fund, said certain banks globally still may have writedowns to report……………………Full Article: Source

Korea National to buy Harvest Energy for $3.9 bln

Posted on 22 October 2009 by VRS  |  Email |Print

From Bloomberg: Korea National Oil Corp. agreed to buy Canadian oil producer and refiner Harvest Energy Trust for C$4.1 billion ($3.9 billion) to secure supplies as South Korea competes with China and India for global energy resources.
South Korean state-run energy developers may team up with private companies including SK Energy Co. and the country’s $30 billion sovereign wealth fund to buy overseas oil and gas fields, the Ministery of Knowledge Economy said on Oct. 6……………………Full Article: Source

BNP Paribas hires Fortis banker for Asia wealth funds

Posted on 22 October 2009 by VRS  |  Email |Print

From Reuters: BNP Paribas has named Peter Foo, currently chief executive for Fortis Bank in Singapore, as a senior banker to oversee sovereign wealth funds, supranationals and central banks in Asia.

Foo will be responsible for business development with this client segment across fixed income, equities, alternative investments and strategic investments, as well as asset management and custody services……………………Full Article: Source

Brazil’s Mantega: Fund needed to regulate sub-salt oil dollars

Posted on 22 October 2009 by VRS  |  Email |Print

From Dow Jones: Brazil’s government should create a special fund to regulate future inflows of dollars from the country’s sub-salt offshore oil reserves, Finance Minister Guido Mantega said Wednesday.

Speaking at a congressional hearing, Mantega said that such a fund would be aimed at slowing the rapid appreciation of the local currency and helping to maintain a healthy foreign trade balance……………………Full Article: Source

Qatar SWF sells half of Barclays stake

Posted on 21 October 2009 by VRS  |  Email |Print

From Domain-b.com: Qatar’s sovereign wealth fund, Barclays Bank’s largest shareholder, is selling half of its stake in the bank worth over £1.3-billion to profit from the bank’s rising share price.

Qatar Holdings, the investment arm of the Qatar sovereign wealth fund today said that it is selling 379.2 million shares of Barclays by paying £750 million to the bank for exercising warrants at 197.775 pence to sell the stock at 382.05 pence to raise approximately £1.4 billion, earning a net gain of £650 million…………………..Full Article: Source

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Barclays pockets GBP750mln windfall in second Qatari shares sell-off

Posted on 21 October 2009 by VRS  |  Email |Print

From Independent: Speculation that Qatar’s sovereign wealth fund is preparing another tilt at Sainsbury’s was rising again yesterday after it sold down its stake in Barclays.

The Qatar Investment Authority was issued with warrants at the height of the financial crisis that allowed it to buy 380 million new Barclays shares at 198p…………………..Full Article: Source

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Mubadala looking at Asia investments

Posted on 21 October 2009 by VRS  |  Email |Print

From Gulfbase.com: Abu Dhabi investment fund Mubadala is looking at investment possibilities in Asia, including China, India and Vietnam, a director of the fund has said.

We have a balanced portfolio, we look at opportunities in the UAE and outside, Nasser Ahmed Alsowaibi told Reuters on the sidelines of an investment forum…………………..Full Article: Source

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Mubadala says Abu Dhabi is easily raising finance

Posted on 21 October 2009 by VRS  |  Email |Print

From Arabianbusiness.com: Abu Dhabi’s annual inflation rate has fallen to below 4 percent, an Abu Dhabi economy official on Monday told an investment forum.

“We’ve seen the inflation rate really dip, we are talking about sub-4 percent, give or take, in Abu Dhabi today,” Waleed Al Mokarrab Al Muhairi, director general of the council for economic development, told an Abu Dhabi investment forum…………………..Full Article: Source

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ADIH starts Sharia-compliant fund

Posted on 21 October 2009 by VRS  |  Email |Print

From Thenational.ae: Abu Dhabi Investment House (ADIH) is launching a US$300 million (Dh1.1 billion) Sharia-compliant hospitality development fund to invest primarily in projects in the MENA and Asia regions.

The three-year fund will focus on airlines, tourism, accommodation, food services and leisure, ADIH said in a statement…………………..Full Article: Source

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Adia enters Rio realty with investments in two towers

Posted on 21 October 2009 by VRS  |  Email |Print

From Business24-7.ae: Abu Dhabi Investment Authority (Adia) is investing in two towers in Rio de Janeiro, Brazil.

Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, who is on a visit to the South American nation, inspected the construction progress of the towers…………………..Full Article: Source

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State Oil Fund of Azerbaijan investment portfolio rose up to $13.2 bln

Posted on 21 October 2009 by VRS  |  Email |Print

From Abc.az: Investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) grew by $1.5 bn for the 3rd quarter of 2009.

SOFAZ executive director Shahmar Movsumov says that by 1st October 2009 investment portfolio totaled $13.2 bn versus $11.748 bn by 1st July, $10.512 bn by 1st April and $11.189 bn by 1st January of 2009…………………..Full Article: Source

Australian fund sees risks to Telstra shares

Posted on 21 October 2009 by VRS  |  Email |Print

From Reuters: The Australian government’s plan to break up phone company Telstra Corp poses significant risk for the shares, the phone company’s largest shareholder said on Tuesday.

Australia’s sovereign fund, the Future Fund, also said it was too early to fully assess the impact of the government’s plan…………………..Full Article: Source

Australian Future Fund up 5.6 pct

Posted on 21 October 2009 by VRS  |  Email |Print

From Globalpensions.com: Australia’s A$64.3bn (US$60bn) Future Fund reported returns of 5.6% in the quarter ending September 30.

Since its inception on July 1, 2007, the scheme has returned 1.2%. The Future Fund was established to shore up assets the government can use at a later date to cover superannuation fund contributions………………….Full Article: Source

Verenex announces extension to MOU with Libyan Investment Authority

Posted on 21 October 2009 by VRS  |  Email |Print

Verenex Energy Inc. announced that negotiations with the Libyan Investment Authority and its legal and other advisors on the definitive agreement for the acquisition of Verenex by the LIA, contemplated in the memorandum of understanding announced on September 18, 2009, are progressing consistent with the terms outlined in the MOU but require additional time to be completed.
Accordingly, an extension to the MOU has been agreed which provides for signing of the definitive agreement on or before November 6, 2009…………………..Full Press Release: Source

CIC turns to Vinson & Elkins for Kazakhstan encounter

Posted on 21 October 2009 by VRS  |  Email |Print

From Legalbusinessonline.com: CIC’s execution teams have had a busy two months. Since September this year, the sovereign wealth fund has invested US$3.7bn in total in three foreign companies - Indonesia’s PTBumi Resources, Hong Kong-based Noble Group, and Kazakhstan-based oil & gas corporation JSC KazMunaiGas, as CIC continues its investment focus on natural resources and commodities sectors.

In its US$939m investment in JSC KazMunaiGa, whose shares are listed on the Kazakhstan Stock Exchange and Global Depositary Receipts are listed on the main market of the London Stock Exchange, CIC sought out Vinson & Elkins for international legal advice for the first time…………………..Full Article: Source

Maldives holds underwater cabinet meeting

Posted on 21 October 2009 by VRS  |  Email |Print

From Takepart.com: To make the plan work, the Maldives would have imposed a green tax on tourists to start a sovereign wealth fund in order to buy a new country, or part of an existing one.
The newer plan is for the Maldives to be the first country to go completely carbon neutral by 2020. Nasheed reckons that if a country as poor as his own can accomplish this challenge, there is no reason wealthy world powers cannot…………………..Full Article: Source

Minzhong IPO by ‘year-end’

Posted on 21 October 2009 by VRS  |  Email |Print

From People.com.cn: Minzhong, whose majority shares are held by Government of Singapore Investment Corporation (GIC) and US private equity firm Olympus Capital, plans to raise between $100 million and $150 million from the initial public offering (IPO), company sources said.

“We planned for the IPO a few years ago, and now all the procedures are underway,” the sources told China Daily…………………..Full Article: Source

Sainsbury’s rises on renewed talk of bid by Qatari Investment Authority

Posted on 21 October 2009 by VRS  |  Email |Print

From Telegraph: Shares in J Sainsbury rose by over 5pc on Tuesday day on speculation that the Qatari Investment Authority (QIA) could mount a bid for the supermarket group following its sale of 379m shares in Barclays.
The sale netted the QIA a war chest of £615m. Traders speculated that this could go towards bumping up the sovereign wealth fund’s existing 26pc stake in the Sainsbury’s…………………..Full Article: Source

Temasek taps bonds for funds

Posted on 21 October 2009 by VRS  |  Email |Print

From Asiaone.com: Temasek Holdings is capitalising on buoyant financial markets to sell bonds that will raise hundreds of millions of dollars for its activities.

The 10-year bond issue - marking only the second time the company has tapped the bond markets for financing - comes after a difficult year in global equity markets for the investment firm…………………..Full Article: Source

Temasek finds sweet spot with US rates accounts

Posted on 21 October 2009 by VRS  |  Email |Print

From Ifrasia.com: Singapore’s sovereign wealth fund Temasek Holdings yesterday (October 19) priced a Reg S/144a US$1.5bn 10-year global that caught a hefty bid from US rates accounts, building on the tailwind created by the reverse inquiries indicated when Temasek met with investors on the road last week.
Some 62% of the paper went into the US, with crossover accounts well represented with large anchor orders…………………..Full Article: Source

GDF Suez approached by Chinese sovereign fund-paper

Posted on 20 October 2009 by VRS  |  Email |Print

From Reuters: GDF Suez has been approached by a Chinese sovereign fund eager to take a minority interest in the French utility, its chief executive said in a newspaper interview on Monday.

Asked by French daily Liberation if he was discussing the entry into GDF Suez’s capital of a Chinese sovereign fund, Gerard Mestrallet said: “I did not ask for anything, I have no shares to sell. They came to see us, keen to consider a long-term minority investment … In these conditions, I say welcome.”………………….Full Article: Source

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The top 12 SWFs - And how they are changing world finance

Posted on 20 October 2009 by VRS  |  Email |Print

From Economywatch.com: Although Sovereign Wealth Funds, or SWFs, still represent a small percentage of total world finance, with the Top 12 alone holding close to $3.2 trillion in assets they are big, and you can rest assured they plan on getting bigger.
With a lack of reform to western financial industries meaning that bubbles and crashes are only likely to get bigger, and with the IMF’s noble idea of being a global lender of last resort still at the ‘I Have a Dream’ stage, exporting nations will continue to build up national reserves as a safeguard against volatility, and will want to put those reserves to work…………………..Full Article: Source

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Temasek’s second issue of 10-year bonds: company

Posted on 20 October 2009 by VRS  |  Email |Print

From AFP: State-linked Singapore investment firm Temasek Holdings said Monday it was planning a new 10-year bond offer as part of a capital-raising programme worth five billion US dollars.

The bonds to be issued by Temasek Financial, a wholly owned subsidiary, are “fully and unconditionally guaranteed” by its parent company, Temasek said in a statement…………………..Full Article: Source

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Temasek taps banks for bond offering

Posted on 20 October 2009 by VRS  |  Email |Print

From Nytimes.com: Temasek Holdings, a Singapore sovereign wealth fund whose bets on Western banks helped drive its profit down 67 percent in the last year, has tapped Deutsche Bank, Goldman Sachs and Morgan Stanley to help it sell 10-year bonds in United States dollars.

The fund announced Monday that the sale will be benchmark, which typically means at least $500 million, without being more specific, Bloomberg News reported…………………..Full Article: Source

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Temasek gets $1.5 bln from first bonds since 2005

Posted on 20 October 2009 by VRS  |  Email |Print

From Bloomberg: Temasek Holdings Pte, Singapore’s government-owned investment company, raised $1.5 billion from its first bond sale in four years.

The company sold 10-year, 4.3 percent notes with help from Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley that were priced to yield 95 basis points more than similar- maturity U.S. Treasuries, according to data compiled by Bloomberg…………………..Full Article: Source

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Just two SWFs looking to renewables despite fossil fuel revenues: report

Posted on 20 October 2009 by VRS  |  Email |Print

From Responsible-investor.com: Just two of the world’s huge sovereign wealth funds (SWFs) – many of which derive their assets from oil and fossil fuel revenues – have taken steps to diversify into renewable energy, according to a report by RiskMetrics Group.
It found that with the exception of the Norwegian Government Pension fund [GPFG ] “none of the SWFs so far has committed to a strategic set of social and environmental investments, though there are a few isolated ‘green shoots’…………………..Full Article: Source

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Australia’s SWF lags in returns

Posted on 20 October 2009 by VRS  |  Email |Print

From Reuters: Australia’s Future Fund reveals that the fund’s mixed asset portfolio (excluding Telstra holding) returned 5.6 percent in the third quarter.
The fund has just over 10 percent in Australian equities, 22.8 percent in global equities. Safer instruments dominate, with debt holdings at 24 percent and cash at 31 percent…………………..Full Article: Source

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Australia Future Fund: Returns 5.6% in 1Q10 ex-Telstra invest

Posted on 20 October 2009 by VRS  |  Email |Print

From Dow Jones: Australia’s Future Fund said Monday that it saw a return of 5.6% for the three months to Sep. 30, excluding its stake in Telstra Corp. (TLS), boosted by improved market conditions.

In a statement, the Future Fund–which was set up by the Australian government to fund government employee pensions–said that it had A$64.25 billion worth of assets at the end of the reporting period, including its A$4.3 billion stake in Telstra…………………..Full Article: Source

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A bid for Sainsbury? If not now, maybe later

Posted on 20 October 2009 by VRS  |  Email |Print

From Reuters: A bid for Sainsbury may not be imminent, but its property assets, growth plans and uncertainty over the intentions of its top investor could keep it a focus of speculation, and its stock in demand.

Shares in Britain’s third-biggest supermarket group leapt as much as 20 percent on Thursday as chatter swirled that its largest investor, Qatar’s sovereign wealth fund, was mounting a new takeover bid after a previous attempt failed in 2007…………………..Full Article: Source

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China foreign reserves continue to surge ever higher: $2.27 trillion

Posted on 20 October 2009 by VRS  |  Email |Print

From Forexhound.com: China’s foreign-exchange reserves, the world’s biggest, surged as an economic recovery attracted speculative capital and a weak dollar boosted valuations of its yen and euro assets.

The holdings climbed about $141 billion in the third quarter to a record $2.273 trillion, the People’s Bank of China said today on its Web site. That was less than the unprecedented $178 billion gain in the second quarter…………………..Full Article: Source

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Gulf SWFs expected to gain $134bln this year

Posted on 19 October 2009 by VRS  |  Email |Print

From Business24-7.ae: Sovereign wealth funds (SWFs) of Gulf oil producers lost about $90 billion (Dh330bn) in 2008, but are expected to gain nearly $134bn this year following an improvement in crude prices, according to a key financial institution.

From nearly $724bn at the end of 2007, the combined assets of the four major SWFs in the GCC shrank to about $634bn at the end of 2008 because of losses suffered from the global financial turmoil, said the Washington-based International Institute of Finance (IIF)…………..Full Article: Source

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Brazil SWF idea more a pipe dream

Posted on 19 October 2009 by VRS  |  Email |Print

From Dow Jones: Despite the enormous influx of capital going into Brazil, a sovereign wealth fund in the near term is little more than a pipe dream. According to recent reports, Brazil’s government is planning to set up a new sovereign wealth fund to invest dollars that the central bank buys on the spot market to limit the sharp appreciation of the local real currency against the dollar.

But Brazil needs all the money it can get to pay for its budget deficit and public debt. Second, much of the capital in flows boosting the real are private and do not go into the government coffers…………..Full Article (Subscription Required): Source

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CIC in Russia venture with Nobel Oil

Posted on 19 October 2009 by VRS  |  Email |Print

From Pople.com.cn: China Investment Corporation (CIC), the nation’s sovereign wealth fund, announced Friday that it had closed the first phase settlement for the purchase of a 45 percent stake in Nobel Oil Group.

The 300-million-dollar investment would be completed in two phases. In the first phase, which was completed by the end of September, CIC had spent 100 million U.S. dollars for holding the Russian oil company’s stakes, and 50 million dollars for operating expense of the oil fields, according to the announcement…………..Full Article: Source

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Yes Bank targets regional investors & SWFs

Posted on 19 October 2009 by VRS  |  Email |Print

From Zawya.com: India’s Yes Bank, a new generation private sector commercial bank, is seeking to raise $200 million (Dh734.6 million) additional capital. The bank plans to raise a significant share of this from Gulf based investors who include some of the leading sovereign wealth funds and institutional investors.

“We are going for a Qualified Institutional Placement (QIP) of 30 million to 50 million shares to raise $150 million to $200 million in additional capital and we are in talks with some of the leading sovereign wealth funds from the region including a few from the UAE,” Rana Kapoor, Yes Bank founder and managing director, told Gulf News…………..Full Article: Source

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Metal miners in Mongolia dig in

Posted on 19 October 2009 by VRS  |  Email |Print

From WSJ: Sovereign wealth funds such as Singapore’s Temasek Holdings Pte. Ltd. and China Investment Corp. have talked with Mongolian conglomerates looking to develop resources and infrastructure.

Temasek and private-equity firm Hopu Investment Management Co. in late 2007 invested a combined $300 million in Hong Kong Lung Ming Investment Holdings Ltd., a firm that owns a majority stake in the operator of Mongolia’s Eruu Gol iron-ore project…………..Full Article: Source

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A timely proposition

Posted on 19 October 2009 by VRS  |  Email |Print

From Arabnews.com: Sovereign wealth funds (SWFs) may have had a limited exposure to the Islamic finance sector to date, but the launch of a new Islamic investment firm, Fajr Capital Ltd. in early October 2009, brings together the investments and ambitions of three such funds in one stroke.

Khazanah Nasional Berhad (the investment arm of the Ministry of Finance in Malaysia), the Brunei Investment Agency (BIA) and the Abu Dhabi Investment Council (ADIC) have been joined by the private Saudi-based firm MASIC (The Mohammad & Abdullah Al-Subeaei Investment Co.), which is a member of the Al-Subeaei Group, as the main shareholders of Fajr Capital, which is based in the Dubai International Financial Centre (DIFC) and has offices in London and Kuala Lumpur…………..Full Article: Source

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Qatar’s SWF mounting new bid for Sainsbury

Posted on 19 October 2009 by VRS  |  Email |Print

From Arabtimesonline.com: A bid for J Sainsbury Plc may not be imminent, but its property assets, growth plans and uncertainty over the intentions of its top investor could keep it a focus of speculation, and its stock in demand.
Shares in Britain’s third-biggest supermarket group leapt as much as 20 percent on Thursday as chatter swirled that its largest investor, Qatar’s sovereign wealth fund, was mounting a new takeover bid after a previous attempt failed in 2007…………..Full Article: Source

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