Posted on 06 January 2011 by VRS | Email |Print
From Ethz.ch: Although still relatively murky compared to other investment vehicles, Sovereign Wealth Funds, or SWFs (in various complexions) manage around $3,000-4,000 billion of assets. They were instrumental in helping to recapitalize broken western banks in 2007/8, and if nothing else, perceived self-interest made sure that the global financial system was kept afloat.
Citigroup, Merrill Lynch and Morgan Stanley were some of the gleeful recipients of sovereign funds; ironic, given that the US government had long billed sovereign funds as a potential threat to ‘national security’. ‘Poster boy of global capitalism’ was perhaps a more fitting epithet given the losses incurred by the funds at Wall Street’s behest…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Theasset.com: In a landmark transaction that involved complex, innovative and pioneering offer structure, tactics and approach, Malaysia’s sovereign wealth fund Khazanah Nasional acquired Singapore hospital operator Parkway Holdings in a contested takeover rarely seen in Asia.
The transaction pitted Khazanah against Fortis Healthcare, one of the leading chains of hospitals in India, which became Parkway’s largest shareholder in March this year after it acquired TPG’s 23.9% stake in the company. Unhappy over the disproportionate board representation, Khazanah launched a partial offer to acquire additional stake in Parkway, which would result in Khazanah owning 51.1% of Parkway…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Financeasia.com: Global Logistic Properties (GLP) has bought a 53% stake in Airport City Development (ACD), the sole developer of the airside cargo handling and bonded logistics facility at Beijing airport for a net price of around $375 million. GLP was spun off from the Government of Singapore Investment Corp (GIC), one of the city-state’s two sovereign wealth funds, last year.
GLP owns, manages and leases logistics facilities in China and Japan. Its properties are strategically located within key logistics hubs, transportation hubs or industrial zones in metropolitan areas such as Shanghai, Tianjin, Guangzhou, Tokyo and Osaka…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Rejournalonline.com: When a country that has stringent policies against investing in U.S. real estate starts breaking down its own policies, then that spells good news for that country’s investments. As Jeffrey Lenobel, real estate group chairman for New York law firm Schulte Roth & Zabel LLP, said, major Chinese banks are “bullish” when it comes to real estate investments in the U.S. – this is why the China Investment Corporation’s move to help on refinancing a Carlyle Group co-owned Manhattan office tower is seen as a positive thing.
This move only proves that the CIC fund, amounting to $300 billion sovereign wealth, is stepping into the U.S. real estate investments…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Vanguardngr.com: The reduction in the reserves level is attributable to the increased demand for foreign exchange, in line with increased economic activity by the public and private sectors, including the outlays on the power sector by the three tiers of government, and the seed money for the Sovereign Wealth Fund.”
Since the conclusion of the Fitch report, a Bill to establish the Sovereign Wealth Fund has been submitted to the National Assembly and a transaction adviser has been appointed to lead the power privatisation efforts in the first quarter of 2011…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Arabianbusiness.com: Nobody ever thought Qatar would become one of the fastest growing economies in the world. Or that its sovereign wealth fund would hold assets of $85-100bn. Or that it could be home to the Arab world’s most successful independent television station.
And of course, nobody thought that it would be able to cool stadiums to just 27 degrees when outside temperatures are soaring…………………………………….Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Sfgate.com: Qatar, the host the 2022 World Cup, plans to complete the passenger line of a $25 billion nationwide rail and metro network in time for the tournament, the project’s manager said. Qatari Diar Real Estate Investment Co., a unit of the country’s sovereign wealth fund, and German state-owned rail operator Deutsche Bahn AG last year announced that they formed Qatar Railways Development Co. to build the network in three phases by 2026.
Only a 70 kilometer (44 mile) freight line linking Doha to the oil fields in the west of the Persian Gulf country won’t be completed until after the sporting event is over, Sultan Bakhit al Enazi, railway project manager for Qatari Diar Real Estate Investment Co., said……………………………………Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Cnbc.com: An uptick in trophy property sales are among a number of signs indicating a rebound in the commercial real estate market, Tom Fink, sr. vice president at Trepp, and independent provider of CMBS and commercial real estate information, said.
“Foreign money has always looked at New York as a place you have to be,” he said. “Whether it’s the Singapore sovereign wealth fund or the Middle East sovereign wealth funds, they’ve always been active in buying and selling real estate in this country.”……………………………………Full Article: Source
Posted on 06 January 2011 by VRS | Email |Print
From Ogj.com: Worldwide sales of upstream oil and gas properties reached a record $107 billion in 2010, a 160% increase above 2009 transactions. NOCs and sovereign wealth funds (SWF) dramatically increased acquisitions of global upstream properties to feed their rapidly growing economies. Total NOC and SWF transaction value reached $32 billion or 20% of the global total in 2010, up from 13% of worldwide transaction value in 2009. Total global purchases by Chinese NOCs increased from $14 billion in 2009 to $26 billion in 2010.
IHS will present a comprehensive analysis of 2010 transactions and forward-looking insight into 2011 and beyond in its IHS Herold 2011 Global Upstream M&A Review, to be released in early March…………………………………….Full Article: Source
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