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Sovereign Wealth Funds Briefing 13.Jul 2009

Posted on 13 July 2009 by VRS |  Email |Print

From Pionline.com: Equity money managers and some in alternative investments are among the likeliest to benefit as sovereign wealth funds globally seek to diversify from government bonds — particularly U.S. Treasuries — a new survey shows.

About 56% of 146 money management executives who routinely work with the funds said the equity allocation is likely to rise over the next five years, according to “Analyzing SWFs Through Proxy: The Oxford Survey of SWF Asset Managers,” a survey conducted by the Oxford University Center for Employment, Work and Finance, Oxford, England………Full Article (Subscription Required) : Source

Posted on 13 July 2009 by VRS |  Email |Print

From Pionline.com: The Abu Dhabi Investment Authority, which with an estimated $627 billion in assets is believed to be the largest sovereign wealth fund in the world, reportedly is reviewing its long-term investment strategy.

An ADIA spokesman declined to comment for this article and said officials were not available for an interview………Full Article (Subscription Required) : Source

Posted on 13 July 2009 by VRS |  Email |Print

From Themotorreport.com.au: The Qatar Investment Authority (QIA) has now formally made an offer to purchase a 25 percent stake in German manufacturer Porsche, offering €7 billion (AU$12.5 million) for a share of Porsche Automobil Holding and options on Volkswagen shares held by Porsche.

Last week, Porsche’s capital-raising efforts hit a snag when the German state-owned KfW bank rejected its request for a €1.75 billion ($AU3.05b) loan to assist it through its current difficulties………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Business24-7.ae: Qatar’s sovereign wealth fund’s offer of $10 billion (Dh36.7bn) to acquire a 25 per cent stake in Porsche Automobil Holding and options on Volkswagen shares currently held by Porsche provides a much needed solution to the German car manufacturer.
The investment by Qatar Investment Authority will allow the sports car producer to reduce its problematic level of debt significantly………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Gulf-times.com: A Qatar Investment Authority (QIA) subsidiary is planning to open an investment firm in Indonesia by the end of this year, according to a senior government official of the Southeast Asian country.
The QIA, through its Qatar Holdings, is opening the firm whose investment is expected to be in the range of $1bn. It will focus on energy and infrastructure sectors………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Bloomberg: China Investment Corp., the nation’s $200 billion sovereign wealth fund, will invest in cement maker BBMG Corp.’s initial public offering in Hong Kong, said four people with knowledge of the matter.

BBMG, the largest cement supplier in Beijing, marks CIC’s second investment in a Hong Kong IPO, one of the people said, declining to be identified as the size of the purchase has yet to be determined………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Reuters: China’s purchase of a C$1.74 billion ($1.5 billion) stake in Teck Resources may be just the opening move from the world’s top resource consumer in a strategy to use its unique wealth advantage to become a key source of mining capital for Canadian firms.

Teck said last week it sold a 17.2 percent equity stake to state-owned China Investment Corp in a deal that allows the Canadian miner to pay down its massive debt while expanding China’s portfolio of commodity investments………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Pionline.com: The New Zealand government is leaning on the NZ$13.1 billion (US$8.2 billion) New Zealand Superannuation Fund, Auckland, to increase its domestic investments, thereby aiding the local economy and capital markets.

“The anticipated benefits of this policy (to invest more domestically) would be an increase in investments in our productive sector, promoting infrastructure investment and contributing to the further development of our capital markets,” Minister of Finance Bill English said in a May 14 letter to fund officials………Full Article (Subscription Required) : Source

Posted on 13 July 2009 by VRS |  Email |Print

From Pionline.com: Australia’s Future Fund, which began investing just two years ago, started increasing exposure in late 2008 to debt, infrastructure and private equity to take advantage of market conditions, according to the A$58.1 billion (US$46.3 billion) fund’s website.

The asset classes constituted 21.9%, 2.5% and 2.1%, respectively, of total assets as of March 31………Full Article (Subscription Required) : Source

Posted on 13 July 2009 by VRS |  Email |Print

From Efinancialnews.com: Sovereign wealth funds based in Saudi Arabia, Russia, China and South Korea increased their assets under management during the financial crisis, as a spike in the oil price helped the investors become more potent in global markets.……..Full Article (Subscription Required) : Source

Posted on 13 July 2009 by VRS |  Email |Print

From Pionline.com: The $25 billion Korea Investment Corp., Seoul, is preparing to invest approximately $2.25 billion in private equity, real estate and hedge funds, the KIC’s first move into alternative investments, said Scott E. Kalb, chief investment officer.
Private equity strategies will include LBO, mezzanine, distressed, growth capital and venture capital, according to the fund’s 2008 annual report………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Startribune.com: US Treasury Secretary, Timothy Geithner’ told Middle East officials: your investments in the United States are safe. In the United Arab Emirates, Geithner will meet with officials of government-run investment funds, known as sovereign wealth funds, which have poured billions of dollars into U.S. banks and other companies.
The Saudis also recycle significant petro-dollars into U.S. investments………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Cnplus.co.uk: Abu Dhabi-based Mubadala Development Company says it is not developing a stadium at its Mina Zayed Waterfront project.

“Mubadala Development Company is not developing a stadium as part of our Mina Zayed Waterfront project,” says a Mubadala spokesman………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Newsyemen.net: Eight Gulf investment projects were registered during the first quarter of 2009 in Yemen.
A report issued by the General Investment AuthorityGeneral Investment AuthorityGeneral Investment Authority (GIAGIA) showed that the projects worth about YR 7.7 billion were distributed between four Saudi projects and three Kuwaiti projects and one project for United Arab Emirates………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

From Businessneweurope.eu: A few days earlier, the Oman State General Reserve Fund, one of the key investment institutions of the government of the Sultan of Oman, paid $129m for a 30% stake in Bulgaria’s Corporate Commercial Bank.

Gulf money is also starting to increasingly find its way into Central Europe. On July 1, Polish Prime Minister Donald Tusk announced he wanted his country to become a hub in the EU for Middle Eastern investors, not a traditional source of direct investment in Poland, after his government revealed it had sold the struggling Szczecin and Gdynia shipyards to the Qatari investment bank QInvest and sealed a 20-year liquefied natural gas deal with QatarGas………Full Article: Source

Posted on 13 July 2009 by VRS |  Email |Print

Mubadala Development Company (Mubadala) and Al Hilal Bank (Al Hilal) today announced that Al Hilal has purchased a commercial plot on Sowwah Island, the core of Abu Dhabi’s new Central Business District (CBD).

Recently classified as one of the Emirate’s newest investment zones, the Island is being master planned and developed by Mubadala Real Estate & Hospitality as part of the Urban Planning Council’s Plan Abu Dhabi 2030………Full Press Release: Source

Posted on 13 July 2009 by VRS |  Email |Print

On July 13th, 2009, the Sovereign Wealth Fund Institute announced the launch of lmbourse, Private Institutional Buyer Centric Marketplace.
The anonymous asset & fund listing platform, which also offers capital introduction services, is located at www.lmbourse.com. Utilizing connectivity, diligence, privacy and technology, the business segment aims to bring liquidity back to the global marketplace………Full Press Release: Source

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