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Sovereign Wealth Funds Briefing 10.Jul 2009

Posted on 10 July 2009 by VRS |  Email |Print

From WSJ: Big oil investors and Asia’s central banks and sovereign wealth funds are poised to grow twice as fast as other institutional investors, underscoring how financial power is continuing to shift away from the West, a report from the McKinsey Global Institute found.
According to MGI, the McKinsey’s economics research arm, petrodollar investors — including central banks, sovereign wealth funds, and individual magnates based mostly in the Middle East and Russia — will see the value of their foreign assets soar to at least $9 trillion by 2013, up from an estimated $5 trillion at the end of 2008………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Thejakartaglobe.com: Qatar Holdings, the direct investment arm of the Qatar Investment Authority, plans to open a wholly owned investment firm in Indonesia by the end of the year, the government’s special envoy to the Middle East said.

“Based on our latest meeting with Mr. Ahmad Al Sayed, the chief executive of Qatar Holdings, it has decided to establish an investment firm in Indonesia this year,” Alwi Shihab told the Jakarta Globe on Thursday………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Reuters: Singapore’s state investor Temasek is in talks with a unit of Bank of China to launch a $1 billion to $2 billion investment fund to focus on fast-growing infrastructure projects across China, sources said on Thursday.

Talks between Singapore’s sovereign wealth fund and BOC International, the investment banking arm of Bank of China, were in the early stages but both had agreed on the general idea of the fund plan, said the sources, who had direct knowledge of the plan………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Rgemonitor.com: With the rise in the price of oil in Q2, some analysts have again been talking again about the global role of sovereign funds. While some, such as the China Investment Corporation (CIC), for one, seem to have become more active investors again, the Gulf funds still seem to be homeward looking.
The latest –and forthcoming - RGE Monitor Global Outlook suggests that growth in the GCC will be flat in real terms, with a slight contraction………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: Speculation intensified yesterday that sovereign wealth fund China Investment Corporation would take a stake in property group Goodman Group before the end of the month.

The rumours lifted the share price 3.5 per cent in early trading before the stock closed 0.5c lower at 42c………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From WSJ: China Investment Corp., the country’s $200 billion sovereign wealth fund, has finally unveiled its long-planned International Advisory Council, which The Journal wrote about Monday (Call us petty, but we can’t help noting – given that that one of council’s stated missions (In Chinese here) is to advise CIC on “increasing transparency” – that it took four days from the group’s first meeting for CIC to disclose its membership).……..Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Africaintelligence.com: Sitting on a USD 135 billion treasure chest, Libya’s sovereign funds seem intent on limiting the amount of cash in its reserves, deeming them vulnerable to currency swings and inflation, and to instead invest increasingly in Europe, Africa, Latin America and Libya.……..Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Semiconductor-today.com: 3S Photonics of Nozay, France, which manufactures laser chips, optical discrete modules and passive components for telecom networks, has raised funds from France’s Strategic Investment Fund (Fonds Stratégique d’Investissement, or FSI), Alto Invest and Midi Capital.

FSI was created on the initiative of President Nicolas Sarkozy in late November amid the financial crisis, endowed with €20bn, to help stabilize small-to-medium enterprise (SME) technology and defense firms that are deemed to be strategic………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Forbes: French media and telecoms giant Vivendi is talking to banks about acquisition financing as it continues to explore buying the African operations of Kuwaiti mobile operator Zain, whose biggest shareholder is Kuwait’s sovereign wealth fund.

Banking sources pointed to Calyon as an adviser to Vivendi and a potential leader of an acquisition bridge loan. UBS is advising Zain………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Zawya.com: A state-affiliated Kuwaiti company is set to join a growing list of entities from the oil-rich Gulf looking at investments in Asian agricultural land.

Ahmad al-Hamad, managing director of the Kuwait China Investment Company (KCIC), 15 per cent owned by the Kuwait Investment Authority (KIA), said it was considering investing in agribusinesses and in farms producing crops such as rice, wheat, corn and sorghum………Full Article: Source

Posted on 10 July 2009 by VRS |  Email |Print

From Bloomberg: China’s foreign-exchange reserves probably topped $2 trillion for the first time, drawing attention to the difficulty the government faces in finding places to invest the world’s largest holdings.

The reserves climbed $67.8 billion to $2.022 trillion as of June 30 from three months earlier, according to the median estimate of six economists surveyed by Bloomberg News………Full Article: Source

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