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Sovereign Wealth Funds Briefing 08.Dec 2008

Posted on 08 December 2008 by VRS |  Email |Print

From IHT: China Investment Corp., the country’s $200 billion sovereign wealth fund, is unwilling to bail out troubled U.S. financial firms because of unfair restrictions on its investment, a deputy general manager of the fund said.

“On the one hand, the U.S. needs us; on the other hand, they’re suspicious toward us,” the official, Wang Jianxi, said…. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From FT: Six months ago, a ferocious debate raged in Washington and European capitals over whether sovereign wealth funds should be allowed to buy up swathes of the corporate west.

Often this talk boiled down to fears over national security. Oh, to have the luxury of such concerns today. Now the issue is not that these funds might be buying but that they might stop buying – or even sell. Lex chartNeither is unthinkable. Many SWFs have been hit by a double whammy….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Gulf News:The African attention focuses on making the continent a natural choice for sovereign wealth funds (SWFs) from GCC states.

The SWFs of the six-nation GCC amount to $1.5 trillion, of which $875 billion belongs to the UAE alone….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Financial Standard: The $43 billion Alaska Permanent Fund Corporations (APFC) is not letting the bear market slow its private equity investments as the fund hires HarborVest Partners to manage a new PE portfolio.

APFC last week appointed US investment specialist HarborVest Partners to manage its new global equity portfolio….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Bloomberg: The Libyan Energy Fund is interested in buying a stake in Eni SpA, Italy’s biggest oil company, the Italian government said.

“The Libyan government has indicated to the Italian government an interest in acquiring a share in the capital of Eni,” according to a statement on the government’s Web site posted yesterday. Libya said it will not “interfere in the company’s management in any way.” …. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Reuters: Korea Investment Corp (KIC) is seeking to make investments in South Korea together with other sovereign wealth funds under a planned law that will allow the fund to invest on its home turf, a KIC source said on Friday.

The move would help with government efforts to attract foreign capital although the source said the plans were unlikely to come to fruition any time soon….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Asia One: Singapore Prime Minister Lee Hsien Loong on Friday defended the performance of state-owned investment companies after a plunge in the value of their stakes in Citigroup, Merrill Lynch & Co and other global banks.

He said the Government of Singapore Investment Corp (GIC) and Temasek Holdings Pte, which manage more than US$100 billion (S$151 billion) of assets each, should be assessed on their overall portfolio returns instead of the performance of specific assets, Bloomberg news reported….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Moominhouse: The Australian Government has a sovereign wealth fund known as the Future Fund. The Commonwealth Government has run budget surpluses for many years.

Once they had paid down most of the national debt they started to accumulate surpluses which in 2006 were allocated to this fund and dedicated to funding previously unfunded defined benefit retirement payments to public servants….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Howestreet: The intent of this article is to compare the net wealth of selected nations. The net wealth figures for the G-7 nations (US, Japan, Germany, UK, France, Italy and Canada) can be found on the International Monetary Fund website.

It should be noted that all of the G-7 countries have greater government liabilities than assets….. Full Article: Source

Posted on 08 December 2008 by VRS |  Email |Print

From Iii.co.uk: Private equity firm CCMP Capital Asia said on Monday it raised $1.2 billion for its third buyout fund, pulling the money together at a time when lending is tight, volatility high and valuations falling.

Major investors of Asia Opportunity Fund III L.P., the latest buyout fund that CCMP Capital Asia has raised since 1999, include long-time limited partners of CCMP such as the Asian private equity arm of Goldman Sachs and some global public pension plans and sovereign wealth funds, CCMP said in a statement…… Full Article: Source

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