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Sovereign Wealth Funds Briefing 26.Jun 2009

Posted on 26 June 2009 by VRS |  Email |Print

From Reuters: Porsche is advancing toward a deal with Qatar to give the Gulf state a shareholding in Volkswagen, a compromise that will clear the way for the carmakers to merge, according to people involved in the talks.

Porsche racked up 9 billion euros ($12.7 billion) of net debt trying to swallow its much bigger rival Volkswagen before the financial crisis turned the tables and threatened to unravel the deal……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Emii.com: The Alaska Permanent Fund has awarded Oaktree Capital Management a $250 million mandate.

As part of its 1% allocation to distressed debt, the fund will invest in OCM’s Opportunities Fund VIII……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Bloomberg: Rio Tinto Group, Vale SA and Cameco Corp. are among companies that expressed interest in setting up joint ventures in Kazakhstan, according to an official at the mining unit of the country’s sovereign wealth fund.

“Every company seeks a unique mine and our task is to find one to bring global miners to Kazakhstan,” Nurlan Zhakupov, a managing director at the Tau-Ken Samruk mining unit, said in an interview by phone from Almaty yesterday……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Seekingalpha.com: The Blackstone Group, LP received an important endorsement on Friday which could go a long way towards building confidence with investors and partners.
According to Reuters, the China sovereign wealth fund China Investment Corp (CIC) plans to invest $500 million in one of Blackstone’s hedge fund units……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Businessweek.com: Many Western policymakers worry that sovereign investment funds in the Middle East, Russia, China, and elsewhere might use their huge wealth for political purposes. Those fears are likely to intensify as Gulf funds become more active investors.

Gulf investors are a diverse group, including not just the sovereign wealth funds that have attracted the world’s attention, but also wealthy private individuals and companies……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Forbes: ‘We will develop the Qatar market into a multi-asset class exchange,’ said a spokesman for Qatar Holding, owner of the remaining 80 percent stake in the Qatar Exchange and part of the Qatar Investment Authority (QIA).

‘That will be shares, ETFs (exchange-traded funds), ETCs (exchange-traded commodities), bonds, sukuks and index products,’ the spokesman said, declining to be identified due to company policy……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Ameinfo.com: In a statement released today, Dubai World has said that it has consolidated the real estate functions of a number of entities.
‘The real estate development and property management activities of Dubai Maritime City, Leisurecorp, and Dubai Multi-Commodities Centre will be managed by Nakheel going forward,’ said the group……..Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

Indophil Resources Ltd.said the sale process of its 34.23% stake in the copper-gold Tampakan project in the Philippines was ongoing, with a number of interested parties signing confidentiality agreements to enter its data room.
“The interested parties are the tier-one corporates and the tier-one sovereign wealth funds. You’re looking at the big end of town,” a spokesman for Indophil told Dow Jones Newswires………Full Article: Source

Posted on 26 June 2009 by VRS |  Email |Print

From Eluniversal.com: Venezuela’s international reserves stood at USD 29.99 billion, by Monday this week, for an increase of 2.56 percent, (USD 750 million) compared to May 22, when it reached USD 29.24 billion, the Central Bank of Venezuela (BCV) reported.

The total amount includes USD 29.16 billion deposited in the BCV and USD 829 million in the Macroeconomic Stabilization Fund (FEM), set up in 1998 and aimed at maintaining the necessary fiscal, monetary and exchange rate balance despite major fluctuations of the Venezuelan oil revenues……..Full Article: Source

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