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Sovereign Wealth Funds Briefing - Archive | February, 2010

Kuwait SWF invested over $30 bln in 18 months

Posted on 26 February 2010 by VRS  |  Email |Print

From Maktoob.com: Kuwait Investment Authority, the country’s sovereign wealth fund, invested over $30 billion for the past year and a half in international markets, including the U.S., Kuwait’s Al Anbaa newspaper reports Thursday.

Returns from these investments could exceed proceeds from other ventures, the paper reports, citing sources…………………………………….Full Article: Source

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From sovereign wealth to sovereign debt

Posted on 26 February 2010 by VRS  |  Email |Print

From Thetrumpet.com: How fast the world changes these days! Two years ago when the annual summit of those who move and shake the world economy convened in Davos, Switzerland, all the talk was about how the rich nations should employ their sovereign wealth funds.
One of the gurus on a Davos panel that predicted at that time those funds would rocket from 2.5 trillion to 15 trillion by the year 2015 was the ceo of Lehman Brothers…………………………………….Full Article: Source

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Permanent fund looks back on profitable year

Posted on 26 February 2010 by VRS  |  Email |Print

From Juneauempire.com: The Alaska Permanent Fund had a stellar 2009, earning 18.76 percent for the year, its managers were told Wednesday. The Alaska Permanent Fund Corp.’s Board of Trustees heard a report on the fund’s yearly performance Wednesday while meeting in the corporation’s Juneau headquarters.

The board also approved a new investment type known as “mezzanine debt,” which fund managers said might prove lucrative despite the risks…………………………………….Full Article: Source

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Alaska eyes putting small-cap firms out in cold

Posted on 26 February 2010 by VRS  |  Email |Print

From Pionline.com: Alaska Permanent Fund Corp., Juneau, could terminate at least 12 of its 17 external small-cap equity managers under a plan to eliminate its $695 million small-cap equity pool, and consolidate other equity managers by significantly increasing passive management of its stock portfolio, confirmed Laura Achee, spokeswoman for the $34.3 billion fund.

The move was made at the fund’s quarterly board meeting Feb. 23-24…………………………………….Full Article: Source

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Temasek returns with a dual-tranche S$1 bln deal

Posted on 26 February 2010 by VRS  |  Email |Print

From Financeasia.com: Temasek executes its second local currency bond deal for the year with a dual-tranche S$1 billion issue off its global medium-term note programme.
Only two weeks after Temasek Holdings (Private) Limited issued a S$1 billion 10-year benchmark deal, the Singapore investment house returned to the local bond market with a dual-tranche Reg-S S$1 billion ($708 million) transaction on Wednesday night…………………………………….Full Article: Source

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Temasek’s sixth bonds since October rise in first day of trade

Posted on 26 February 2010 by VRS  |  Email |Print

From Businessweek.com: Temasek Holdings Pte’s S$1 billion ($708 million) in 15- and 25-year bonds rose in their first day of trading after the state-owned Singapore investment company completed its sixth bond sale since October.

Temasek’s S$500 million in 15-year, 3.785 percent bonds rose to 100.285 cents on the dollar to yield 3.76 percent as of 2:50 p.m. in Singapore, according to Standard Chartered Plc prices. The company’s S$500 million in 25-year, 4.0475 percent bonds rose to 100.505 cents to yield 4.0155 percent…………………………………….Full Article: Source

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3i Group and GIC to sell stake in Ambea to Triton and management

Posted on 26 February 2010 by VRS  |  Email |Print

3i Group plc and the Government of Singapore Investment Corporation Pte., Ltd. (GIC) have agreed to sell their 75% and 15.9% stakes in Ambea AB, a Sweden-based provider of healthcare services, to Triton Administration (Jersey) Limited and the management of Ambea. Based in the UK, both 3i Group and Triton are private equity firms. GIC is a Singapore-based investment management company.

Triton and the management of Ambea have agreed to pay approximately EUR850 million to the shareholders of Ambea…………………………………….Full Press Release: Source

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Alaska Permanent Fund simplifies its investments

Posted on 25 February 2010 by VRS  |  Email |Print

From Juneauempire.com: The Alaska Permanent Fund will contain fewer individual investment portfolios and more index funds, after its stock portfolio was restructured Tuesday to begin implementing a cutting-edge new investment strategy that was first adopted last summer.

Among the changes will be firing a dozen or more money management firms, so the fund can focus on its top prospects, managers told the Alaska Permanent Fund Corporation’s Board of Trustees while meeting at its Juneau headquarters…………………………………..Full Article: Source

Temasek sells S$500 mln 15-year, S$500 mln 25 year notes

Posted on 25 February 2010 by VRS  |  Email |Print

From Asiaone.com: Singapore state investor Temasek Holdings said on Wednesday it had sold S$500 million worth of 15-year notes and S$500 milion worth of 25-year notes to fund its business activity.

The 15-year notes were priced at a spread of 50 basis points over 15-year Singapore dollar swap offer rates, with a yield of 3.785 percent, and the 25-year notes were priced at a spread of 65 basis points over interpolated 20- and 30-year Singapore dollar swap offer rates…………………………………..Full Article: Source

Bonds sale split up

Posted on 25 February 2010 by VRS  |  Email |Print

From Todayonline.com: Temasek Holdings will be selling bonds in two tranches and has priced $1 billion in bonds, equally split between 15- and 25-year tenors.

In a statement yesterday, Temasek said it has priced its $500 million 15-year bonds with a 3.785-per-cent coupon that were priced to yield 50 basis points over 15-year Singapore dollar swap offer rates (SOR)…………………………………..Full Article: Source

China sets out on a new shopping spree

Posted on 25 February 2010 by VRS  |  Email |Print

From WSJ: China has a $2.4 trillion headache: its foreign reserves. That surplus capital is now beginning to manifest itself in a new wave of investment outside China. In addition to high-profile investments by China’s giant sovereign wealth fund, state-owned and private Chinese companies are finding it easier to obtain capital for foreign forays, investing both in new projects and in existing businesses.
Much of the focus has been on securing access to natural resources, but technology and market access are increasingly becoming priorities…………………………………..Full Article: Source

Goodman Group on the way back

Posted on 25 February 2010 by VRS  |  Email |Print

From Theaustralian.com.au: Goodman Group is banking on a turnaround in profit from development and funds management to drive it to a forecast operating profit of $310 million this financial year. The group added sovereign wealth fund China Investment Corporation, and Canadian Pension Plan Investment Board, as strategic partners last year.
In the six months to December 31, Goodman suffered more heavy falls in asset values, with $1.5 billion of cuts to its property portfolio and adverse foreign exchange movements pushing the group to a $500.3m loss…………………………………..Full Article: Source

New Zealand reserve assets increase in January

Posted on 25 February 2010 by VRS  |  Email |Print

From RTTNews: New Zealand’s total reserve assets climbed to NZ$24.91 billion in January from NZ$21.59 billion in the previous month, the Reserve Bank of New Zealand reported on Thursday.

Foreign currency reserves increased to NZ$18.19 billion in January from NZ$14.79 billion in the preceding month…………………………………..Full Article: Source

GIC’s UBS losses could amount to 3.9pct of GDP

Posted on 24 February 2010 by VRS  |  Email |Print

From Pressrun.net: Finance Minister Tharman Shanmugaratnam said in his Budget speech yesterday that Singapore’s “large” estimated basic deficit of 8.5 billion Singapore dollars (about $6 billion) for financial year 2009 amounted to 3.3 per cent of the gross domestic product.

The Government of Singapore Investment Corporation’s paper losses on the Swiss bank, UBS, could amount to more than that………………………………….Full Article: Source

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Temasek unit buys 10pct of Tianjin Eco-City Investment

Posted on 24 February 2010 by VRS  |  Email |Print

From Channelnewsasia.com: Conglomerate Keppel Corp on Tuesday said that a unit of Temasek Holdings has bought a stake in its Tianjin eco-city investment.

Singbridge International Singapore, a wholly-owned subsidiary of Temasek, bought 1 million shares in Singapore-Tianjin Eco-City Investment Holdings (STEC)………………………………….Full Article: Source

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Temasek invests in SecondMarket

Posted on 24 February 2010 by VRS  |  Email |Print

From WSJ: Singapore state-owned investment firm Temasek Holdings PLC and a charitable foundation established by Hong Kong tycoon Li Ka-shing have invested $15 million in SecondMarket Inc., a marketplace specializing in illiquid assets, that will help fund the company’s Asian expansion plans.

Temasek and the Li Ka Shing Foundation each agreed to invest $7.5 million in the New York-based company, which provides a venue for buying and selling assets such as private-equity limited partnership stakes, hedge-fund stakes, private-company stock, bankruptcy claims and auction-rate securities………………………………….Full Article: Source

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Kuwait’s Gulf Bank narrows 2009 loss

Posted on 24 February 2010 by VRS  |  Email |Print

From Thepeninsulaqatar.com: Kuwait’s Gulf Bank, in which sovereign wealth fund Kuwait Investment Authority (KIA) owns a 16 percent stake, expects to make an operating profit in 2010 which will help absorb additional provisions, after it narrowed its losses in 2009.
Gulf Bank said yesterday it made a net loss of 28.07m dinars ($97.36m) in 2009, after booking 111m dinars against its credit portfolio………………………………….Full Article: Source

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The Masdar Initiative – re-energizing the world

Posted on 24 February 2010 by VRS  |  Email |Print

From Environmental-expert.com: The Masdar Initiative driven by the Abu Dhabi Future Energy Company (Masdar), is a wholly owned subsidiary of the Mubadala Development Company (Mubadala), a global cooperative platform to enable Abu Dhabi to lever its substantial resources and experience in global energy markets into the technologies of the future.

One key objective of Masdar is to position Abu Dhabi as a world-class research and development hub for new energy technologies, effectively balancing its strong position in an evolving world energy market………………………………….Full Article: Source

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Pension funds diversify portfolios

Posted on 24 February 2010 by VRS  |  Email |Print

From Arabnews.com: In Saudi Arabia, the establishment of a new sovereign wealth fund (SWF), Hassana Investment Company, which will invest in real estate and commercial projects, and stock markets in the Middle East and overseas, may be a potentially significant development for the Islamic finance sector.
Hassana’s mandate is to be the fund manager of the assets of the General Organization for Social Insurance (GOSI), the social security and pension agency of the Kingdom………………………………….Full Article: Source

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Dubai World’s fund report in Al-Ittihad is ‘not new’

Posted on 24 February 2010 by VRS  |  Email |Print

From Businessweek.com: A report that Dubai government allocated 18.3 billion dirhams ($5 billion) to Dubai World on a commercial basis didn’t reflect a new development, a spokeswoman of the emirate’s Department of Finance said.

“This is not new,” the spokeswoman said, who declined to be identified in line with government policy, when asked to comment on the report in Al-Ittihad newspaper today………………………………….Full Article: Source

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It’s just hot air

Posted on 24 February 2010 by VRS  |  Email |Print

From Mmail.com.my: Khazanah Nasional Bhd has dismissed rumours that its healthcare arm, Pantai Holdings Bhd, is selling its two government concessions to focus solely on its private hospital business.

Khazanah spokesman Mohd Asuki Abas said: “As far as we are concerned, this is just speculation. However, as Pantai has its own management, they will be the right party to deny the rumour.”…………………………………Full Article: Source

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Super Fund loses $319mln in currency fluctuations

Posted on 24 February 2010 by VRS  |  Email |Print

From Nzherald.co.nz: The New Zealand Superannuation Fund went backwards last month when it was hit hard by fluctuations in the New Zealand dollar.

The fund, set up by the previous Labour Government to help pay for the future costs of retiring New Zealanders, lost $319 million, or 1.97 per cent, in January, dropping down to $15.65 billion………………………………….Full Article: Source

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Brazil forms sovereign wealth fund advisory board

Posted on 23 February 2010 by VRS  |  Email |Print

From Dow Jones: Moving forward with the administration of its recently created sovereign wealth fund, Brazil’s government on Monday established a special advisory board to supervise the fund’s investment decisions, according to a presidential decree published in the country’s federal register.

Under the decree, the board will be headed by the country’s Finance Minister, Guido Mantega, and will also include Planning Minister Paulo Bernardo and the president of the country’s central bank, Henrique Meirelles……………………….Full Article: Source

Libya SWF plans $8 bln investment in U.K, after release of Lockerbie bomber

Posted on 23 February 2010 by VRS  |  Email |Print

From Dailymail.co.uk: Ministers were facing further questions over the decision to free the Lockerbie bomber last night as it emerged Libya is due to invest £5billion in the UK following the release. Rajab Layas, of the state-controlled Libyan Investment Authority, said that Colonel Gadaffi’s regime was planning a major investment in Britain in the coming months.

The Tripoli regime currently spends about £400million a year on British goods……………………….Full Article: Source

Mumtalakat adopts Microsoft solutions

Posted on 23 February 2010 by VRS  |  Email |Print

From Gulf-daily-news.com: Microsoft Bahrain has announced that Bahrain Mumtalakat Holding Company has implemented Windows 7 to enhance internal user productivity and streamline and simplify daily operations.

The implementation of Microsoft’s new operating system also allows the organisation to have a secure and reliable operating system while giving them the advantage of Windows 7 enhanced functionality and user interface……………………….Full Article: Source

Asian M&A makes a comeback

Posted on 23 February 2010 by VRS  |  Email |Print

From WSJ: China’s US$300 billion sovereign-wealth fund, China Investment Corp., announced more than US$8.15 billion of acquisitions last year, including a 15.8% stake in AES of the U.S. for US$1.58 billion, 17.2% of Canada’s Teck Resources for US$1.5 billion and the US$856 million purchase of a 15% stake in Singapore-listed Noble Group.
“We’ll see further China-into-Australia deals” centered on metals, mining, oil and natural gas, said Matt Hanning, UBS joint head of Asia M&A. “This will probably play into Canada as well.”………………………Full Article: Source

KKR, TPG Capital close to deal to buy CICC stake

Posted on 23 February 2010 by VRS  |  Email |Print

From WSJ: China Investment Corp., the country’s $300 billion sovereign-wealth fund, owns the biggest chunk of CICC, and also owns nearly 10% of Morgan Stanley after investing a total of $6.8 billion in the Wall Street firm in 2007 and 2009.

As the private-equity industry in the U.S. and Europe has matured, large firms like KKR and TPG have redoubled their focus on China and other fast-growing markets. Several years ago each firm made splashy hires to help oversee their operations there……………………….Full Article: Source

Morgan Stanley nears selling stake in Chinese bank

Posted on 23 February 2010 by VRS  |  Email |Print

From AFP: US bank Morgan Stanley is close to selling its 34.3 percent stake in China International Capital Corp., a key investment bank, to US private equity firms in a deal worth one billion dollars.

The two firms are Kohlberg Kravis Roberts & Co, and TPG Capital, the source familiar with the deal told AFP……………………….Full Article: Source

Glencore talking to possible partners for Prodeco

Posted on 23 February 2010 by VRS  |  Email |Print

From Reuters: Commodity trader Glencore is holding talks with four possible partners to help buy back its key Prodeco coal operations in Colombia from mining group Xstrata. Negotiations are being held with Brazil’s Vale, U.S. coal miner Alpha Natural Resources, Singapore’s sovereign wealth fund GIC and U.S. private equity fund First Reserve Corp.

Swiss-based Glencore, which declined to comment, was forced to give up the prized Prodeco operations last year when it was short of cash, but it has an option to repurchase them which expires next week……………………….Full Article: Source

Dubai World to present debt recast plan by March-end

Posted on 23 February 2010 by VRS  |  Email |Print

From Business-standard.com: Crisis-hit conglomerate Dubai World will present its plan to restructure debts worth $22 billion by the end of March. “Dubai World will present its banks with a restructuring proposal for its $22 billion debts by the end of next month,” British daily ‘The Times’ reported.

The state-owned conglomerate had rattled the global markets in November last year, after announcing that it would seek more time to repay its debt obligations……………………….Full Article: Source

NZ Super Fund loses money in Jan, up for year

Posted on 23 February 2010 by VRS  |  Email |Print

From Nzherald.co.nz: The New Zealand Superannuation Fund recorded a 1.97 per cent loss in January, bringing its performance in the first seven months of its financial year to 15 per cent. The fund’s investment income has added $2.12 billion to the $13.53 billion of taxpayer payments since 2003/2004, an equivalent annual return of 5.8 per cent.
These figures represent an estimated 13.5 per cent better return from the fund’s managed investments compared to what would have been a passive investment in Treasury Bills……………………….Full Article: Source

Factor indexes may put hurt on active managers

Posted on 23 February 2010 by VRS  |  Email |Print

From Pionline.com: Experts say that a report in December commissioned by the 2.59 trillion Norwegian kroner ($458 billion) Government Pension Fund-Global, Oslo, will raise awareness of systematic factor-based strategies and the issue of overpaying for alpha.
That report called for the fund to impose factor tilts onto customized benchmark portfolios to improve returns and to raise the bar for active managers………………………Full Article: Source

Angola FX reserves fall to $12.3 bln in December

Posted on 23 February 2010 by VRS  |  Email |Print

From Reuters: Angola’s foreign exchange reserves dropped to $12.3 billion in December 2009 from $12.9 billion in November, a central bank internal document showed on Monday.

In 2009, the central bank lost 30 percent of its foreign exchange resrves, according to the document obtained by Reuters……………………….Full Article: Source

Nigeria: Foreign reserves drops to $41 bln

Posted on 23 February 2010 by VRS  |  Email |Print

From Allafrica.com: Nigeria lost about $238 million from its foreign reserves in a day.From $42.2 billion on February 17, the reserves went down to $41.9 billion on February 18.

No official comment as to the reduction on the reserves which was pasted on the website of the Central Bank of Nigeria (CBN) yesterday……………………….Full Article: Source

Call for PNG Wealth Fund to be carefully designed and managed

Posted on 22 February 2010 by VRS  |  Email |Print

From Rnzi.com: Papua New Guinea’s Institute of National Affairs says it’s essential that a well-designed sovereign wealth fund be set up to manage projected revenue from PNG’s Liquified Natural Gas project.

This follows a comment from the head of the United Nations Development Programme that the organisation wants to help PNG establish the best sovereign fund it can so that the money is tied up for future generations…………………..Full Article: Source

Glencore seeks to buy back $2.5bln Prodeco mine

Posted on 22 February 2010 by VRS  |  Email |Print

From Timesonline.co.uk: Glencore, the Swiss commodities trader, is sounding out potential partners as it prepares to buy back the $2.5 billion Prodeco coalmine owned by Xstrata. The Swiss trading group is understood to be discussing a possible deal with Vale, the Brazilian miner, and GIC, the Singaporean sovereign wealth fund.

It is also believed to have held talks with First Reserve, a US-based investment fund, and Alpha Natural Resources, an American coal producer…………………..Full Article: Source

CIC to invest in PE secondary market

Posted on 22 February 2010 by VRS  |  Email |Print

From China Knowledge: China Investment Corp, the country’s US$300 billion sovereign wealth fund, will keep expanding in the overseas markets by agreeing to invest a combined US$1.5 billion in the private equity secondary market, sources reported.

Reportedly, CIC will open custom accounts with Lexington Partners, Goldman Sachs and Pantheon Ventures, which each gained mandates to manage US$500 million for the sovereign fund in special accounts…………………..Full Article: Source

Resilience package worked though only a fraction of GIC, Temasek losses

Posted on 22 February 2010 by VRS  |  Email |Print

From Pressrun.net: The Economic Survey of 2009, released today by the Ministry of Trade and Industry, Singapore, notes how the government fought the recession. The centrepiece of Budget 2009 was the 20.5 billion Singapore dollar (SGD20.5 billion) Resilience Package, it says.

The stimulus worked. Singapore is out of the recession with overall unemployment down to 2.1 per cent…………………..Full Article: Source

Dubai World on verge of presenting debt proposal

Posted on 22 February 2010 by VRS  |  Email |Print

From Timesonline.co.uk: Dubai World will present its banks with a restructuring proposal for its $22 billion (£13.5 billion) debts by the end of next month.

An insider close to the Dubai Government said that the struggling state-owned conglomerate will finalise a complete valuation of the group’s assets by the end of February and will have a restructuring offer on the table within the following four weeks…………………..Full Article: Source

Oil royalty fight puts BN in a fix over Terengganu payments

Posted on 22 February 2010 by VRS  |  Email |Print

From Themalaysianinsider.com: The Barisan Nasional federal government yesterday argued why states in the Malay peninsula are not entitled to oil royalty, but was silent about its decision to resume paying the 5 per cent cash payment direct to oil-rich Terengganu.

The Information, Communication and Culture Ministry took out full page advertisements in Malay weeklies listing eight questions and answers to rebut Tengku Razaleigh Hamzah’s argument that Kelantan and all other states are entitled to the 5 per cent oil royalty under the Petroleum Development Act 1974…………………..Full Article: Source

Pension funds diversify portfolios

Posted on 22 February 2010 by VRS  |  Email |Print

From Arabnews.com: In Saudi Arabia, the establishment of a new sovereign wealth fund (SWF), Hassana Investment Company, which will invest in real estate and commercial projects, and stock markets in the Middle East and overseas, may be a potentially significant development for the Islamic finance sector.
Hassana’s mandate is to be the fund manager of the assets of the General Organization for Social Insurance (GOSI), the social security and pension agency of the Kingdom…………………..Full Article: Source

As Iceland resists paying our billions, let’s not forget just who is to blame

Posted on 22 February 2010 by VRS  |  Email |Print

From Guardian: Back in 2007, Norway’s $455bn sovereign wealth fund had made a decision to bet on the misfortune of Iceland’s banking sector. Iceland was furious, and the Norwegians retreated. Yet a small band of Scandinavian economists and bankers remained utterly unconvinced by the stability of Iceland’s banks.
Concerns centred on overinvestment in retail, leisure and property in northern Europe and the UK at the peak of a consumer boom. The Iceland bank sceptics pinged around emails depicting a spider’s web of overlapping ownership. Funding dried up, and credit markets indicated Icelandic banks were the riskiest in Europe…………………..Full Article: Source

Head of Dutch pension fund resigns over probe-ANP

Posted on 22 February 2010 by VRS  |  Email |Print

From Reuters: The head of Dutch ABP, the world’s third-largest sovereign pension fund, has resigned over an investigation into a failed savings bank where he once sat on the board, ANP-Reuters said.

Ed Nijpels sent a letter to ABP’s board late Friday saying he could not continue given the investigation into the collapse of DSB and the likely months of public debate after its release, the agency said…………………..Full Article: Source

Blackstone and other funds said to weigh bid with simon for malls

Posted on 22 February 2010 by VRS  |  Email |Print

From Nytimes.com : The Simon Property Group is in preliminary talks with the Blackstone Group and sovereign wealth funds about making a potential joint bid for General Growth Properties, the bankrupt mall operator, people briefed on the matter said.
The talks, which come after General Growth rejected Simon’s unsolicited $10 billion bid for the company, are in early stages and might not lead to a joint bid, these people said…………………..Full Article: Source

Yemen reserves of foreign currency record $7 bln in 2009

Posted on 22 February 2010 by VRS  |  Email |Print

From Saba: Yemen reserves of the foreign currency have recorded in 2009 nearly $7 billion, backing by $1.15 billion more than in the 2008 reserves which amounted to about $8.15 billion.

A report issued by the Central Bank of Yemen (CBY) obtained by Saba, showed that the bank’s total balance sheet reached nearly YR1.8 trillion, with a slight increase hit YR 8 billion more than in 2008…………………..Full Article: Source

Kazakh sovereign fund to borrow up to $1 bln in 2010

Posted on 19 February 2010 by VRS  |  Email |Print

From Reuters: Kazakh sovereign welfare fund Samruk-Kazyna plans to borrow up to $1 billion from abroad this year to finance large industrial projects, Chief Executive Kairat Kelimbetov said on Thursday.

“We will watch the markets and we plan to raise up to $1 billion,” Kelimbetov told reporters……………………………………Full Article: Source

CIC in big overseas push

Posted on 19 February 2010 by VRS  |  Email |Print

From Thestandard.com.hk: As global economies are starting to recover, China Investment Corp - the mainland’s sovereign wealth fund - is continuing its expansion overseas by agreeing to invest a combined US$1.5 billion (HK$11.7 billion) in the private equity secondary market.

CIC will open custom accounts with Lexington Partners, Goldman Sachs and Pantheon Ventures, which each gained mandates to manage US$500 million for the sovereign fund in special accounts…………………………………..Full Article: Source

CIC eyes private equity’s secondary market

Posted on 19 February 2010 by VRS  |  Email |Print

From WSJ: China’s $300 billion sovereign-wealth fund, China Investment Corp., has mandated three managers, including Goldman Sachs Group Inc., to invest $1.5 billion in the private-equity secondary market, a person familiar with the situation said.

The mandate by CIC to invest in secondary private equity—the sale by a private-equity fund of a holding to another private-equity fund—was given to the three managers late last year, and is part of CIC’s efforts to diversify its investment portfolio, the person said……………………………………Full Article: Source

C.I.C. said to ready $1.5 bln for buyouts

Posted on 19 February 2010 by VRS  |  Email |Print

From Nytimes.com: After a year of buying stakes in many of the most well-known listed companies in the United States, China Investment Corp. is turning its attention to private equity deals.
The sovereign wealth fund is said to have set aside $1.5 billion for the secondary market, taking accounts with three buyout shops, the newspaper reports……………………………………Full Article: Source

Temasek Holdings – Transparency a perception ?

Posted on 19 February 2010 by VRS  |  Email |Print

From Temasekreview.com: Transparency International (TI) publishes an annual Corruption Perceptions Index (CPI) according to “the degree to which corruption is perceived to exist among public officials and politicians”.

Corruption is best described as “the abuse of entrusted power for private gain”. The maximum score or index is 10 and a country with a high score is “perceived” as being least corrupt. In 2009, Singapore was placed No. 3 after New Zealand and Demark with an index of 9.2……………………………………Full Article: Source

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