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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market, Trends

Sovereign funds invest in India story; turn top bidders in Coal India, Power Grid issues

Posted on 16 November 2010

From Indiatimes.com: Sovereign wealth funds from Norway to Abu Dhabi are increasing bets on India by buying into Coal India and Power Grid issues as they increase their share of emerging market assets when the West is grappling with shaky sovereign ratings and tepid growth.
Norway’s Norges Bank Investment Management, the world’s second-biggest sovereign wealth fund built on revenues from oil and gas, was among the top bidders for Power Grid shares last week. GIC of Singapore, which owns stake in ICICI Bank , bid for $500 million worth shares in Coal India, said two people familiar with the bids. Mubadala, the world’s wealthiest fund from oil-rich emirate Abu Dhabi, also bid, they said………………………………………Full Article: Source

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