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Sovereign Wealth Funds Briefing 31.Oct 2008

Posted on 31 October 2008 by VRS |  Email |Print

From Guardian: Libyan sovereign funds are talking to Telecom Italia and other Italian companies about possible stake purchases, Saif al Islam Gaddafi, the son of Libyan leader Muammar Gaddafi, said on Thursday.

Libyan funds have recently raised their stake in Italian bank UniCredit to 4.9 percent, becoming the second biggest shareholder in the bank….. Full Article: Source

Posted on 31 October 2008 by VRS |  Email |Print

From UK Press: Barclays is on the verge of securing a £6 billion capital injection from Middle Eastern investors in a move that will enable the bank to avoid using the Government for financial support.

Bosses are understood to be finalising deals with the Qatar Investment Authority (QIA) and an Abu Dhabi-based sovereign wealth fund. A formal announcement could be made later on Friday. If completed, the fund raising will help Barclays’ chief executive John Varley recapitalise the bank without Government help…… Full Article: Source

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From Reuters: France’s strategic fund aimed at protecting domestic industries through the financial markets crisis will be set up in three weeks’ time, President Nicolas Sarkozy said Thursday.

Sarkozy has long championed the need to nurture French industry and a slump in market values has raised concerns in government that some companies might become takeover targets for far-away multinationals….. Full Article: Source

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From Juneauempire.com: Future dividends from the Alaska Permanent Fund will get a boost, as high oil prices this year have enabled the state to stop diverting oil royalty payments from the fund to state government operations.

In 2003 the Alaska Legislature reduced from 50 to 25 percent the amount of money from mineral royalties and lease sales that went to the permanent fund. The Alaska Constitution calls for at least 25 percent to go to the permanent fund, but in 1980 the Legislature boosted that to 50 percent….. Full Article: Source

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From Reuters: South Korea’s National Pension Service on Thursday said it had signed a preliminary agreement with private equity firm Blackstone Group to invest $2 billion each in the north Asian country.

“Blackstone plans to invest in alternative asset categories such as infrastructure and real estate as well as domestic stocks and bonds,” a statement from the NPS said….. Full Article: Source

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From Gulfnews.com: Dubai World on Thursday said it faced no resource-crunch in its expansion plans as its chairman discounted the likelihood of a huge impact of the global financial crisis on the Gulf region.

The group, which owns companies such as real estate developer Nakheel, private equity firm Istithmar and the world’s fourth-largest port operator DP World, said it continues to pursue acquisitions in many countries….. Full Article: Source

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From FT: Gulf sovereign wealth funds are seeking investments in the US economy, Robert Kimmitt, deputy US treasury secretary, said yesterday.

The funds had seemed reluctant to divert much of their estimated £1,300bn ($2,000bn, €1,600bn) portfolio into the US economy, worrying that the economic crisis has further to go. Gulf money has been instrumental in attempts to shore up big Wall Street names….. Full Article: Source

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From Reuters: A U.S. judge ordered the freezing of Argentine pension fund investments in the United States to satisfy a prior $554 million judgment against the South American country on behalf of holders of its defaulted sovereign debt.

Judge Thomas Griesa of U.S. District Court in Manhattan on Wednesday granted a request by bondholders to freeze the assets. Griesa asked representatives of Argentina to respond in court on Nov 6….. Full Article: Source

Posted on 31 October 2008 by VRS |  Email |Print

From Theglobeandmail.com: The Canada Pension Plan Investment Board has set aside at least $1.4-billion to hunt for bargains in the top-quality office and retail property sectors in the United States and Britain.

In addition to this capital, which will be invested in opportunistic real estate funds run by managers including Blackstone Group and Morgan Stanley, the CPPIB is also searching for direct investments, said Graeme Eadie, senior vice-president of real estate investments at the CPPIB….. Full Article: Source

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From Business Week: Russia’s hard currency reserves dropped a record $31 billion last week as the country spent money on keeping the ruble from plummeting and the banking sector from melting down, the central bank said Thursday.

The central bank said in a statement its international foreign exchange reserves fell to $484.7 billion as of Friday, down from $515.7 billion a week before….. Full Article: Source

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From Nestor.minsk.by: Qatari Diar, a wholly-owned subsidiary of the Qatar Investment Authority (QIA), completed its acquisition of Cegelec, an international group providing technological services to companies and public authorities.

Cegelec is an international integrated group providing technological services to companies and public authorities. The group generates an annual turnover of around 3 billion euro and employs 25,000 people….. Full Article: Source

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From Americanchronicle.com: The radical change that has brought the possibility that the U.S. remove 10,400,000,000 barrels of oil that has under his basement, plus 86,000 -10 times the oil that Americans consume in a year- the service says Mineral Exploitation that is beneath its shores, it marked a turning point this summer in crude prices.

Whenever Obama or McCain met his electoral promise, the summer of 2008 may have opened the door to that for the first time, a stable Western democracy to control one of the largest reserves of the planet. And the consequences should rejoice….. Full Article: Source

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