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Sovereign Wealth Funds Briefing 08.Jul 2009

Posted on 08 July 2009 by VRS |  Email |Print

From Reuters: Sitting on about £700m worth of profits from its eight month-long investment in UK bank Barclays, the Qatari foray into European M&A is looking a lot more successful today than it was this time last year.

The Qatari investment in Barclays was jointly made by the Qatar Investment Authority, Qatar’s sovereign wealth fund, and Challenger, a vehicle owned by the Emirate’s royal family………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Dofonline.co.uk: QIA is the sovereign wealth fund, and Challenger, a vehicle backed by the Qatari Royal Family, bought £800 million of convertible notes that could be changed into Barclays shares at 153p last October.

Qatar Investment Authority (QIA) has made reportedly made a £700m profit on its investment in Barclays made in last Autumn’s financial crisis. The Qatari rescue investment in Barclays saw the Arab emirate sitting on paper profits of more than £700m………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Dow Jones: Barclays PLC (BCS) Monday said that Qatar Investment Authority, or QIA, had converted its mandatorily convertible notes in the bank into ordinary shares. The sovereign wealth fund’s stake remains unchanged at 12.53%.

QIA was one of two Middle Eastern investors that Barclays turned to last October as part of a GBP7.3 billion capital raising through an institutional placement, which helped Barclays avoid having to take capital from the U.K. government. The other investor was Abu Dhabi’s International Petroleum Investment Co………Full Article (Subscription Required) : Source

Posted on 08 July 2009 by VRS |  Email |Print

From IPE: The Norwegian ministry of finance is seeking a consultant to prepare a report which will then feed into the government’s evaluation of the active investment management of the NOK 2.3trn (€254.9bn) Norwegian Government Pension Fund – Global.

The Ministry of Finance said in a report to the Storting (the Norwegian Parliament) in April on the management of the pension fund in 2008 that proposals for evolution of the scheme’s investment strategy will include a review of whether active management should continue………Full Article (Subscription Required) : Source

Posted on 08 July 2009 by VRS |  Email |Print

From Zawya.com: Finance Minister Mustafa Al-Shimali denied on Monday local reports of him giving guidance to Kuwait Investment Authority (KIA) regarding the halt of all studies and plans presented by investment companies which included proposed plans to save those companies.

The minister said that he did not give any such orders to KIA, particularly since their strategic plan calls for utilizing and analyzing investment opportunities which would benefit public funds………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Reuters: India wants foreign investors to fund as much as half of the $20 billion a year it has earmarked for road building, Transport Minister Kamal Nath said. “We are looking at all funds. We are looking at sovereign wealth funds. We are looking at private equity. We are looking at pension funds,” he said.
India’s ambitious highway programme has hit a speed bump as wary investors shy away from funding, but critics say the problem lies deeper and that the process of offering and bidding for highway upgrades needs review………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Reuters: The Libyan government had invested $500 million of its cash reserves with accused swindler Allen Stanford’s firm as of late 2008, a court filing showed on Tuesday.

And Stanford and Andrea Stoelker, his girlfriend, flew to Tripoli on Jan. 25, 2009 because Libya was considering increasing the amount it had invested with him, according to a court document………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Sgblogs.com: Singapore state investor Temasek Holdings has clinched its first ever exploration rights deal after winning an Indonesian concession in West Belida onshore Sumatra.
Temasek oil and gas exploration unit, Orchard Energy, signed the production sharing contract with Indonesia in May, as part of the latest round of oil and gas exploration rights in eastern Indonesia………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Reuters: Veolia Environnement is likely to receive non-binding expressions of interest by the end of July for a 49 percent stake in its UK water arm. Interest has come from British and continental European infrastructure funds, and Middle Eastern sovereign wealth funds (SWFs).

Veolia was not immediately available to comment………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Abc.net.au: South Australia’s Commissioner for Aboriginal Engagement wants the State Government to set up a fund for Aboriginal communities, based on mining royalties and land tax revenue.

Klynton Wanganeen says a future fund would allow Aboriginal communities to support themselves, instead of relying on welfare………Full Article: Source

Posted on 08 July 2009 by VRS |  Email |Print

From Xinhua: Hong Kong’s official foreign currency reserve assets rose to 207 billion U.S. dollars in June, up 1.9 billion on May, the Monetary Authority of Hong Kong said Tuesday.
Including unsettled forward contracts, foreign currency reserve assets stood at 208.2 billion U.S. dollars, up 3.1 billion on May, said the authority………Full Article: Source

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