Mon, Nov 24, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Archive | January, 2012

Cash is king: Future Fund parks assets

Posted on 31 January 2012 by VRS  |  Email |Print

David MurrayThe Future Fund has transferred assets out of property, debt securities and alternative assets into cash holdings as it prepares to wait out a long period of ‘’subdued economic growth”.
The latest quarterly update also reveals the fund has increased its exposure to companies in emerging markets while decreasing exposure to developed economies, where the slowdown is expected to have the most impact………………………………………..Full Article: Source

Future Fund plays it safe

Posted on 31 January 2012 by VRS  |  Email |Print

The Federal Government may be trying to talk up Australia’s economic prospects, but one of the country’s largest managed funds has just shifted its investments towards cash.
Australia’s Future Fund now has less exposure to Australian shares. The move has highlighted how even the country’s more experienced money managers are no longer game to play the market………………………………………..Full Article: Source

Super Fund claws back some losses

Posted on 31 January 2012 by VRS  |  Email |Print

The New Zealand Superannuation Fund, which was set up to help pre-fund a ballooning pension bill for baby boomers, clawed back some of its losses in December, in a tough first half to its current financial year.
The Cullen fund, named after its architect former Finance Minister Michael Cullen, made an absolute loss after fees and before tax of 5.3% in the six months ended December 31, posting just two monthly gains in that period………………………………………..Full Article: Source

New Mexico SWF updates private equity strategy

Posted on 31 January 2012 by VRS  |  Email |Print

The New Mexico State Investment Council (NM SIC) is updating its long-term strategy for its private equity portfolio. One major change includes committing around $350 to $450 million per year to private equity until 2016.
In addition, like other public investors, the long-term strategy includes larger commitments to a smaller pool of managers, thus limiting relationships to fewer than 50 and less than 100 funds. Another big change is a shift in geographic strategy to increase allocation to emerging markets and Asia which now represents 3% of the private equity portfolio………………………………………..Full Article: Source

Russian Fund buys stake in MICEX-RTS

Posted on 31 January 2012 by VRS  |  Email |Print

Russia’s $10 billion private equity fund is making its first investment, buying a stake in the country’s MICEX-RTS stock market with the aim of boosting the exchange’s IPO hopes and helping develop Moscow’s rudimentary capital markets.
The Russian Direct Investment Fund, a $10-billion state fund set up to attract foreign direct investment into Russia, will buy a 1.25% stake in the exchange, according to a press release………………………………………..Full Article: Source

Norges Bank continues property spree

Posted on 31 January 2012 by VRS  |  Email |Print

The Norwegian Sovereign Wealth Fund has joint-leased London’s Jaeger House with the Crown Estate. GBP 50 million (approximately 460 million kroner) has been spent by the Regent Street Partnership, comprising the Crown Estate and the Norwegian ‘Oil Fund’, for purchasing the 200-2006 Regent Street head lease from IVG Institutional Funds GmbH.
Regent Street is an attractive area in London for retailers and customers. The lease has 73 years left to run. This purchase consists of around 2,700 square metres of shop space as well as about 1,800 square metres of office space………………………………………..Full Article: Source

Call for Norwegian Government Pension Fund disinvestment in Shell

Posted on 31 January 2012 by VRS  |  Email |Print

An eminent group of scientists and professionals have sent a collective communication to the Norwegian Government Pension Fund recommending disinvestment in the oil giant Royal Dutch Shell on ethical grounds.
The pension fund has already dis-invested in several mining and forestry companies “known to cause severe environmental and human rights related harm in their operations.”……………………………………….Full Article: Source

Dubai Investments posts $16.7mln Q4 loss

Posted on 31 January 2012 by VRS  |  Email |Print

Conglomerate Dubai Investments, whose manufacturing business was hit by political unrest in Libya and Syria last year, swung to a quarterly loss on Monday, hurt by lower asset valuations.
The firm, in which sovereign fund Investment Corporation of Dubai (ICD) owns an 11.5 percent stake, had a fourth quarter loss of AED61.4m ($16.72m), according to Reuters calculation. That compared with profit of AED117.4m in the prior-year period in 2010………………………………………..Full Article: Source

Qatar fund to buy Credit Suisse’s U.K. office

Posted on 30 January 2012 by VRS  |  Email |Print

The Qatar Investment Authority, the country’s sovereign wealth fund, has offered to buy Credit Suisse Group AG (CSGN)’s office headquarters in London, the Sunday Telegraph reported, without saying where it got the information.
The fund may have offered to buy the Swiss bank’s property at 1 Cabot Square in Canary Wharf in a sale and leaseback deal valued at about 330 million-pound ($519 million), the newspaper reported, without citing anyone………………………………………..Full Article: Source

Qatar wealth fund snaps up prime Canary Wharf property

Posted on 30 January 2012 by VRS  |  Email |Print

Qatar’s sovereign wealth fund Qatar Investment Authority (QIA), is in the final stages of acquiring Credit Suisse’s headquarters in London and may sign the deal in a few weeks, two sources familiar with the matter said.
“They’re working out the details now. It’s a matter of a few weeks,” one of the sources said, adding that the Qataris would pay 330 million pounds ($517 million) for the property, with a separate leaseback agreement to be put in place with Credit Suisse………………………………………..Full Article: Source

Qatari bank still in talks for Turkey’s DenizBank

Posted on 30 January 2012 by VRS  |  Email |Print

Qatar National Bank says it remains in merger talks with the Turkish division of troubled Franco-Belgian lender Dexia, though no deal has been reached yet. Qatar’s sovereign wealth fund, the Qatar Investment Authority, controls QNB through a 50 per cent stake.
Chairman Yousef Kamal told reporters gathered for a bank meeting Sunday that the state-backed lender would consider taking over DenizBank if the price is right. He didn’t elaborate………………………………………..Full Article: Source

Qatar finmin sees QNB-Denizbank deal ‘if price right’

Posted on 30 January 2012 by VRS  |  Email |Print

Qatar’s finance minister, who is also the chairman of Qatar National Bank, said on Sunday QNB could buy Turkey’s Denizbank by year’s end if the ‘price is right’.
Sovereign wealth fund Qatar Investment Authority (QIA) is in the final stages of acquiring Credit Suisse’s headquarters in London and may sign the deal in a few weeks, two sources familiar with the matter said, in a deal which could be worth 330 million pounds ($517 million)………………………………………..Full Article: Source

Russian state fund to announce three deals

Posted on 30 January 2012 by VRS  |  Email |Print

The $10 billion Russia Direct Investment Fund plans to announce three deals in the next month, the chief executive of the Russian government’s private-equity vehicle told MarketWatch in an interview on the sidelines of the World Economic Forum’s annual meeting.
The deals will be the first for the fund, which was created in June 2011 and will be capitalized with $10 billion from the Russian government over the next five years. It’s mandated to co-invest with international investors in an effort to attract investment to Russia………………………………………..Full Article: Source

China’s rescue plan for the West

Posted on 30 January 2012 by VRS  |  Email |Print

As the holder of the world’s largest foreign-exchange reserves - more than $3 trillion - China is in an enviable position to ride out the current economic downturn. It is also poised to play a major role in the recovery of the global economy, thanks to a wave of new investments, especially in the West.
Whereas China’s focus for the last decade was on securing natural resources, its focus has now shifted to infrastructure. This was signaled late last year by the chairman of the China Investment Corporation (CIC) Lou Jiwei when he announced that China was keen to form partnerships to develop Western infrastructure, beginning with Britain………………………………………..Full Article: Source

Khazanah stengthens focus in healthcare with acquisition

Posted on 30 January 2012 by VRS  |  Email |Print

The acquisition of a 75 per cent stake in Turkish healthcare provider Acibadem Saglik Yatirimlari Holding AS (ASYH) by Khazanah Nasional Bhd (Khazanah) and its subsidiary, Integrated Healthcare Holdings Sdn Bhd (IHH) sees the government’s investment holding arm achieving another major milestone with a strategy that focuses on healthcare.
“Five or six years ago, we have identified healthcare as a very important sector that brings together several values,” managing director Tan Sri Azman Mokhtar said………………………………………..Full Article: Source

Kazakh wealth fund sees injections into BTA as ‘inevitable’

Posted on 30 January 2012 by VRS  |  Email |Print

Kazakhstan’s sovereign-wealth fund, the majority owner of BTA Bank, said the need to inject funds into the lender, which is seeking a second debt restructuring in as many years, is “inevitable.”
This “won’t necessarily be a capital injection, other forms are possible,” Yelena Bakhmutova, deputy CEO of the fund, known as Samruk-Kazyna, told reporters in Astana today. The possibilities include less expensive government funding and higher coupons on Samruk-Kazyna bonds that the bank now holds, she said, without elaborating on the timing………………………………………..Full Article: Source

New Mexico’s sovereign fund lays out long-range PE plan

Posted on 30 January 2012 by VRS  |  Email |Print

The New Mexico State Investment Council, manager of the state’s $14.4 billion sovereign wealth fund, released a new long-range strategy for its private equity portfolio that envisions committing around $400 million per year through 2016, according to a copy of the strategy released at the Council’s Jan. 24 meeting.
The strategy was prepared by the Council’s private equity consultant, LP Capital Advisors………………………………………..Full Article: Source

FG cautioned on Nigeria’s sovereign debt profile

Posted on 27 January 2012 by VRS  |  Email |Print

Victor OgiemwonyiThe Federal Government of Nigeria has been warned to exercise restraint in the floating of Sovereign debt instruments, ensuring that the bonds do not lead to the escalation of the rising debt profile of the country. He further advised the government to ensure that the Sovereign Wealth Fund and the sovereign debt instruments begin their investment activities in equities in the Nigerian capital market.

Victor Ogiemwonyi, Managing Director, Partnership Investment Plc said Nigeria’s rising debt profile poses a serious threat to the economy, especially when viewed against the on-going crisis in Europe and the global financial landscape……………………………………….Full Article: Source

Middle East key to global growth

Posted on 27 January 2012 by VRS  |  Email |Print

Michael AndrewThe Middle East is extremely important for three reasons. First, It is the place where sovereign wealth funds have liquid and available investments. They are cornerstone investors, and are going to be major investors overseas, and major investors in new technologies.
The Middle East is at the heart of where those investment decisions are being made, and that will lead you into a lot of really good quality transaction work……………………………………….Full Article: Source

Debt restructuring at Kazakh bank BTA

Posted on 27 January 2012 by VRS  |  Email |Print

Shareholders in Kazakh bank BTA , majority-owned by the sovereign wealth fund, voted against a debt restructuring plan at a meeting on Thursday, a week after the bank went into official default for the second time.

Aug 2010- BTA completes a multibillion dollar debt restructuring programme, which leads to sovereign wealth fund Samruk-Kazyna becoming an 81.5 percent shareholder in the bank. Samruk-Kazyna pledges, in time, to sell its stake to the private sector………………………………………..Full Article: Source

Italy - a buy for the brave

Posted on 27 January 2012 by VRS  |  Email |Print

Italy could turn out to be the investment bet of the decade if European Union leaders manage to contain the euro zone crisis.
Norway’s mammoth sovereign wealth fund, for instance, reduced its holdings of Italian government debt in the third quarter of 2011 as the euro crisis approached its most acute phase……………………………………….Full Article: Source

Keppel upbeat on record profit

Posted on 27 January 2012 by VRS  |  Email |Print

Keppel Corp reported record annual profit for last year and gave a bullish outlook as high oil prices and strong demand for deepwater rigs is set to fuel growth at the world’s largest rig-builder. The conglomerate, part owned by Temasek Holdings, also had record offshore and marine new orders worth nearly S$10 billion last year.

Net profit for the full year rose 14 per cent to S$1.49 billion, while revenue increased 10 per cent to S$10.08 billion……………………………………….Full Article: Source

UniCredit investors during rights offer reap Europe’s top return

Posted on 27 January 2012 by VRS  |  Email |Print

Investors who bought UniCredit SpA shares and rights during the bank’s 7.5-billion euro ($9.9 billion) offering are reaping the biggest equity return among Europe’s 50 largest companies.
Foreign institutional investors including Aabar Investments PJSC, the Abu Dhabi-based sovereign-wealth fund, and Capital Research & Management Co., a Los Angeles-based investment fund, were among firms which bought the shares……………………………………….Full Article: Source

Five myths about China’s power

Posted on 27 January 2012 by VRS  |  Email |Print

China owns roughly $2 trillion in U.S. Treasury and mortgage-backed debt and $800 billion in European bonds. These massive holdings may cause anxiety in the West and give Beijing a lot of prestige and bragging rights — but they haven’t afforded China a lot of diplomatic sway.

China’s sovereign wealth fund, which invests part of those reserves, has favored low-risk assets (such as a recent minority stake in a British water utility) and has sought to avoid geopolitical controversy. And in the European debt crisis, China has been conspicuously absent……………………………………….Full Article: Source

Kazakh wealth fund orders BTA, oil company to divest assets

Posted on 26 January 2012 by VRS  |  Email |Print

Kazakhstan’s sovereign-wealth fund ordered BTA Bank, which is seeking a second debt restructuring in as many years, to sell construction assets as part of an initiative to make state-controlled companies more efficient.
The state-owned oil and gas producer, KazMunaiGaz National Corp., and railway monopoly Kazakhstan Temir Zholy will also divest investments that fall outside the scope of the companies’ primary activities, Umirzak Shukeyev, head of the Samruk-Kazyna fund, told reporters today in the capital, Astana………………………………………..Full Article: Source

Kazakh National Welfare Fund to get rid of non-specialised assets

Posted on 26 January 2012 by VRS  |  Email |Print

The Kazakh National Welfare Fund Samruk-Kazyna will get rid of the non-specialised assets of its affiliated companies, Fund’s head Umirzak Shukeyev told journalists on Wednesday, Novosti-Kazakhstan reported.
“Some of the National Company’s external assets are dragging them down,” Mr Shukeev said. He went on to say a board has been created which will examine all the Samruk-Kazyna’s companies to determine unnecessary areas………………………………………..Full Article: Source

Kazakh sovereign wealth fund names Yelena Bakhmutova deputy CEO

Posted on 26 January 2012 by VRS  |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna named Yelena Bakhmutova, the former head of the State Agency for Financial Supervision, deputy chief executive officer.
Bakhmutova, 49, will in charge of financial institutions including banks and development companies, Umirzak Shukeyev, the head of Samruk-Kazyna, said in the capital Astana………………………………………..Full Article: Source

Israel seeks to turn gas into wealth fund

Posted on 26 January 2012 by VRS  |  Email |Print

Israel is putting together a plan for a national investment fund that would tap an anticipated natural gas bonanza to fuel both an export-geared economy and provide a nest egg of US$10 billion (S$12.7 billion) in under a decade for future generations.
The proposed Israeli sovereign wealth fund is still in the planning phase but officials have said some of the revenues would be invested in strategically-critical targets such as education and health………………………………………..Full Article: Source

Dubai Holding unit to repay $500 mln in bonds

Posted on 26 January 2012 by VRS  |  Email |Print

A unit of Dubai Holding, a conglomerate owned by Dubai’s ruler, said Wednesday that it will repay $500 million in bonds maturing on February 1, while Fitch agency revised the rating of the group from negative to stable.
Dubai Holding Commercial Operations — a hospitality, media and property group — said in statement to Nasdaq Dubai financial market that it confirmed repayment of the $500 million maturing on February 1………………………………………..Full Article: Source

Gulf Air to downsize, seeks state funds

Posted on 26 January 2012 by VRS  |  Email |Print

A Gulf Air Airbus A330 takes off from Bahrain international airport in Muharraq, Bahrain. The struggling national carrier of Bahrain, hit by falling passenger numbers, will shrink operations and seek cash from government funds, its chief executive said.
The airline could tap Bahrain’s sovereign wealth fund Mumtalakat, which has a stake in the carrier………………………………………..Full Article: Source

Has China passed its peak?

Posted on 26 January 2012 by VRS  |  Email |Print

China over-accumulated foreign exchange reserves and began to switch to building up a sovereign wealth fund to supplant it. China saw the competition for resources heating up and knew it was deficient. Its lack of key natural resources would limit it, so it has tried to use its sovereign wealth fund to accumulate minerals.
China’s recent move to limit exports of rare earth, a scarce ingredient in battery-making that China has in abundance, may signal more rivalry and a sharper-elbowed future with a country that is beginning to be hemmed in by its own past success………………………………………..Full Article: Source

Norway companies ‘readying for Burma’: FM

Posted on 26 January 2012 by VRS  |  Email |Print

Throughout the years in which it supported the pro-democracy movement, Norway came under fire from campaigners who alleged that its state-owned investment body, the Norwegian Pension Fund, held shares in energy companies operating in Burma, including Total and Chevron, and had invested up to $US5 billion in the country’s oil and gas sectors.
Foreign Minister Jonas Gahr Støre said that Norwegian officials would soon hold a roundtable on responsible investment in the country………………………………………..Full Article: Source

$10 bln Israeli sovereign wealth investment fund seeks to turn gas into gold

Posted on 25 January 2012 by VRS  |  Email |Print

Glenn YagoIsrael is putting together a plan for a national investment fund that would put to work an anticipated natural gas bonanza to fuel both an export-geared economy and provide a nest egg of $10 billion in under a decade for future generations.
The proposed Israeli sovereign wealth fund is still in the planning phase, but officials have said some of the revenues would be invested in critical areas such as education and health………………………………………..Full Article: Source

S&P downgrades France’s wealth fund

Posted on 25 January 2012 by VRS  |  Email |Print

Standard & Poor’s Ratings Services late Monday said it stripped France’s sovereign wealth fund of its triple-A rating and lowered its long-term credit ratings on Groupe BPCE, Credit Agricole , and Societe Generale to A from A-plus.
The outlook on each bank rating is stable, the firm said. S&P lowered its long-term credit rating on state-backed Caisse de Depots et Consignations, the country’s sovereign wealth fund, to AA-plus from triple-A, with a negative outlook………………………………………..Full Article: Source

Qatar Holding negotiates buying a stake in Qatar Automotive

Posted on 25 January 2012 by VRS  |  Email |Print

Qatar Holding LLC, an investment unit of the country’s sovereign wealth fund, is in negotiations to purchase a stake in Qatar Automotive Gateway, Qatar Automotive Chairman Ghanim Bin Saad Al Saad told reporters in the Qatari capital Doha.
Qatar Automotive was formed last year and plans to start an automotive parts operation in the Persian Gulf emirate, according to the company’s website………………………………………..Full Article: Source

Khazanah pays RM3.7bln for key stake in Turkish healthcare firm

Posted on 25 January 2012 by VRS  |  Email |Print

Khazanah Nasional’s healthcare unit has acquired 75 per cent stake in Acibadem Saglik Yatirimlari Holding (ASYH) for RM3.66 billion, marking its first foray into Turkey’s private healthcare space.
ASYH owns 92 per cent of Acibadem Saglik Hizmetleri ve Ticaret, a leading private healthcare services provider in the Turkey. The state investment arm acquired 60 per cent of ASYH via its healthcare unit, Integrated Healthcare Holdings (IHH), while another 15 per cent was acquired through its wholly-owned special purpose vehicle (SPV), Bagan Lalang Ventures………………………………………..Full Article: Source

Singapore fund to buy 4.9pct stake in Godrej

Posted on 25 January 2012 by VRS  |  Email |Print

Temasek Holdings, Singapore’s sovereign wealth fund, has agreed to buy a 4.9 per cent stake in India’s Godrej Consumer Products for Rs6.85 billion (Dh489 million).
Godrej will issue 16.7 million new preferential shares to Baytree Investments (Mauritius), a unit of Temasek, P. Ganesh, executive vice-president of finance at Godrej Consumer, said. Godrej will sell the shares at Rs410 a share, the company said in an exchange filing………………………………………..Full Article: Source

New year, new investment: CIC makes a head start

Posted on 24 January 2012 by VRS  |  Email |Print

Chenying ZhangChina’s sovereign wealth fund’s move last week to invest in London water supplier Thames Water puts focus on potential overseas investment in the year of Dragon from China’s central bank PBOC, which plans to create a $300 billion vehicle to invest in Europe and the United States.
After Reuters reported on the plan in December, the PBOC and State Administration of Foreign Exchange (SAFE), which manages reserves, have been mum. A tiny drop in the country’s reserves, still standing at $3.18 trillion, brings only a small comfort to the world’s largest reserve holder as it struggles with low returns on its sovereign debt portfolios in U.S. Treasuries (earning almost nothing) and euro zone sovereign debt (under growing risk of further ratings downgrades)………………………………………..Full Article: Source

India Govt gives nod to Oman Investment Fund to buy stake in UCX

Posted on 24 January 2012 by VRS  |  Email |Print

The government has given nod to the Oman Investment Fund (OIF), the Sultanate of Oman’s sovereign wealth fund, to buy five per cent stake in the UCX, a national level commodity exchange in the country.
“A week back, we received the Foreign Investment Promotion Board’s (FIPB) approval to induct QIF’s arm, Funderburk 2 Mauritius as a foreign investor in the UCX,”the exchange’s promoter Ketan Sheth told PTI. Funderburk 2 Mauritius has bought five per cent stake in the exchange for Rs 13.75 crore, he said………………………………………..Full Article: Source

Kremlin-backed fund seeks European investments, Arab partners

Posted on 24 January 2012 by VRS  |  Email |Print

The Russian Direct Investment Fund is looking at companies in Italy, France, Germany and Netherlands, its head Kirill Dmitriev said by phone today. The $2 billion Moscow-based fund may conclude deals in the third or fourth quarter by acquiring minority stakes.
Prime Minister Vladimir Putin, who announced in September his intention to return to the presidency this year, said Russian capital should be invested abroad to allow for the country’s closer integration with Europe and the rest of the world. The fund can invest as much as 20 percent of its resources outside of Russia. It may also use some of the $1 billion that China Investment Corp., the nation’s sovereign-wealth fund, committed last year……………………………………….Full Article: Source

Angola’s Sonangol, banks interested in Portuguese companies

Posted on 24 January 2012 by VRS  |  Email |Print

Angola’s state-owned oil company Sonangol EP and some of the African country’s banks are interested in stakes in Portuguese companies, Angolan Economy Minister Abraao Gourgel said.
The country still lacks the financial ability to create a sovereign wealth fund to invest Angola’s oil money abroad. The government has decided to create smaller funds to invest in the energy sector and in building new infrastructure following a 27- year civil war that ended in 2002, Gourgel said………………………………………..Full Article: Source

China starts UK buy spree with Thames Water deal

Posted on 24 January 2012 by VRS  |  Email |Print

China has made the first of what is expected to be many forays into British infrastructure, snapping up nearly a tenth of Thames Water, the UK’s largest water and sewerage company.
The acquisition, by China’s $410 billion (£265 billion) CIC sovereign wealth fund, follows talks in Beijing this week with Chancellor George Osborne, who is looking for overseas investors to finance a massive reconstruction of the country’s ailing infrastructure, that would have the additional benefit of boosting the economy………………………………………..Full Article: Source

Wyo General Fund exceeds forecast by 2pct

Posted on 24 January 2012 by VRS  |  Email |Print

Wyoming’s General Fund grew by $80.4 million in December to $481.6 million, according to the January issue of the monthly state revenue report. As a result, year-to-date General Fund revenues exceeded projections by $20.6 million or 2 percent.
“With the exception of investment income, General Fund revenues were on the mark,” said Jim Robinson, senior economist for the state’s Economic Analysis Division. “Clearly, this reflects the slow-growth mode the state’s economy is currently in.”……………………………………….Full Article: Source

Kuwait SWF’s $1-bln India portfolio: Five local fund houses to manage

Posted on 23 January 2012 by VRS  |  Email |Print

Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, has selected five domestic mutual fund houses to manage its India equity portfolio. Birla Sun Life Mutual Fund, DSP Blackrock, ICICI Prudential, Canara Robeco Mutual Fund and Franklin Templeton will manage over $1 billion of KIA’s money in India.
The fund houses have been allocated funds in the range of $200-300 million, according to people familiar with the matter. Almost 90% of the corpus will be invested in equities………………………………………..Full Article: Source

Temasek agrees to buy stake in India’s Godrej Consumer Products

Posted on 23 January 2012 by VRS  |  Email |Print

P. GaneshTemasek Holdings Pte, Singapore’s sovereign-wealth fund, has agreed to buy a 4.9 percent stake in India’s Godrej Consumer Products Ltd. for 6.85 billion rupees ($136 million).
Godrej will issue 16.7 million new preferential shares to Baytree Investments (Mauritius) Pte, a unit of Temasek, P. Ganesh, executive vice president of finance at Godrej Consumer, said in a phone interview today. Godrej will sell the shares at 410 rupees a share, the company said in an exchange filing………………………………………..Full Article: Source

Singapore sovereign wealth fund to unload some PE-fund stakes

Posted on 23 January 2012 by VRS  |  Email |Print

Government of Singapore Investment Corp. is seeking to sell about $700 million in private equity holdings, according to three people familiar with the matter. The $274.5 billion sovereign wealth fund named UBS to manage the sale, which involves stakes in mostly older buyout and venture capital funds, said the people, who asked not to be identified because the information isn’t public.
Among the stakes GIC is offering are funds from Atlas Venture, Draper Fisher Jurvetson, W.L. Ross & Co. and J.C. Flowers & Co., the people said………………………………………..Full Article: Source

China’s sovereign wealth fund dips its toes in U.K. water

Posted on 23 January 2012 by VRS  |  Email |Print

U.K. Chancellor George Osborne is making headway in a campaign to bring some Asian excitement to his country’s more boring assets.
Mr. Osborne pledged in a speech at the Asian Financial Forum in Hong Kong this week to make Britain the “home of Asian investment in Europe” and said he was actively seeking Asian investment in British infrastructure. Mr. Osborne also met with Lou Jiwei, the chairman of China Investment Corp. on his tour………………………………………..Full Article: Source

George Kerevan: Welcome return of the sovereign wealth fund

Posted on 23 January 2012 by VRS  |  Email |Print

Remember sovereign wealth funds (SWFs), the global investment arms of states which have more oil revenues or foreign exchange earnings than they know what to do with? Back before the credit crunch of 2008, SWFs were big news because they were snapping up western companies using their massive earnings from the commodities boom.
But interest in SWFs faded with the credit crunch when a collapse in the value of their equity portfolios forced the funds to become more cautious. SWFs that invested heavily in bank shares took an especially big hit………………………………………..Full Article: Source

ADIA, Rockpoint plan Devonshire Square sale

Posted on 23 January 2012 by VRS  |  Email |Print

Abu Dhabi Investment Authority and Rockpoint plan to sell Devonshire Square, an office block in the City of London that houses Aon Corp. (AON) among others, for as much as 400 million pounds ($623 million), the Sunday Times reported without saying where it got the information.
ADIA, Abu Dhabi’s sovereign-wealth fund, and Rockpoint have appointed property broker CBRE Group Inc. (CBG) to find bidders, according to the report………………………………………..Full Article: Source

Qatar ‘not interested’ in buying SPL club Hearts

Posted on 23 January 2012 by VRS  |  Email |Print

Scottish First Minister Alex Salmond tried to persuade the royal family of Qatar to buy SPL football club Hearts. The First Minister’s bid to find new owners for the cash-strapped Edinburgh club failed after Qatar’s rulers said they had “no interest in investing in Scottish football”.
Qatar Investment Authority last May bought 70 percent of the French club Paris St Germain in a deal reportedly worth up to $57m. The Qatar sovereign wealth fund also owns a string of trophy assets including the luxury department store Harrods in London………………………………………..Full Article: Source

banner
January 2012
M T W T F S S
« Dec   Feb »
 1
2345678
9101112131415
16171819202122
23242526272829
3031