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Sovereign Wealth Funds Briefing 15.Oct 2009

Posted on 15 October 2009 by VRS |  Email |Print

From Moneynews.com: Global corporate mergers and acquisitions activity involving sovereign wealth funds increased by six-fold to nearly $22 billion in the third quarter with 37 deals completed, Thomson Reuters data showed on Wednesday.

Global announced M&A volumes involving state investment vehicles stood at $21.8 billion in the third quarter, up from $3.6 billion in the previous three months…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Reuters: They may be placing smaller bets, but sovereign wealth funds were back with a vengeance in the third quarter.

Global corporate mergers and acquisitions activity involving sovereign wealth funds jumped sixfold to nearly $22 billion in the quarter, with 37 deals completed. Global announced M&A volumes involving state investment vehicles stood at $21.8 billion, up from $3.6 billion in the second quarter, according to our data…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Bloomberg: Australia’s sovereign wealth fund has committed $1 billion to a Brookfield Asset Management vulture fund that will target distressed real estate debt, the Australian newspaper reported, without saying where it got the information.

Australia’s Future Fund follows sovereign wealth funds China Investment Corp. and Government of Singapore Investment Corp. in putting money in the vehicle, the newspaper said…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Bloomberg: China Investment Corp., the nation’s sovereign wealth fund, suspended talks with Fortescue until the mining company agrees to make concessions, the Caijing Magazine reported Sept. 30, citing an official at the fund.

“The money issue will be solved,” said Li Xiaowei, chairman of Chinese steelmaker Valin, the second-largest shareholder in Fortescue…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Reuters: Kuwait China Investment Co (KCIC), a firm linked to the Gulf Arab state’s sovereign wealth fund, said it had secured the final approval to list its shares on the Kuwaiti bourse during the fourth quarter.

“The Kuwait Stock Exchange Market Committee and KCIC will agree on the final listing day in two weeks,” KCIC said in a statement on Wednesday…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Globalpensions.com: The Norwegian government plans to spend NOK148.5bn (US$26.7bn) of the Government Pension Fund – Global’s assets to help spur economic growth, the Ministry of Finance said as it unveiled its proposed 2010 budget yesterday.

“The extraordinary escalation in the spending of oil revenues to deal with the financial crisis and the global recession has brought spending of petroleum revenues to a high level,” the Ministry wrote in the national budget……………………Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Reuters: Norway’s sovereign wealth fund rose by 0.95 percent to a preliminary 2.546 trillion Norwegian crowns ($457.9 billion) in September from the end of August, the central bank’s monthly balance sheet showed on Wednesday.

The value stood at 2.522 trillion at the end of August and at 2.273 trillion at the end of 2008…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Business24-7.ae: The world’s 10 top sovereign wealth funds, holding $2.2 trillion (Dh8.07trn) of assets, invest almost half of that in international equity markets, according to a survey.

The Investor Responsibility Research Centre Institute and RiskMetrics Group, both based in New York, estimate that the top 10 funds from Abu Dhabi, Australia, China, Singapore, Kuwait, Libya, Norway, Qatar and Russia, hold just under $1tn in international equities…………………….Full Article: Source

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Posted on 15 October 2009 by VRS |  Email |Print

From Bloomberg: Dubai World, the emirate-controlled holding company with about $60 billion of debt and other liabilities, may offer equity stakes in units such as developer Nakheel PJSC to creditors or neighboring Abu Dhabi to avert potential defaults, people briefed on the matter said.

Dubai World’s options also include selling assets and seeking cash from the Dubai government, which could borrow from the United Arab Emirate’s central bank in Abu Dhabi, the people said, speaking anonymously because the talks are private…………………….Full Article: Source

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