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Sovereign Wealth Funds Briefing 26.Oct 2009

Posted on 26 October 2009 by VRS |  Email |Print

From Onlineopinion.com.au: With Beijing’s sovereign wealth fund (China Investment Corporation) predicted to invest $US50 billion in the next year, it may well be that China will seek to purchase financial assets and real estate as some of the world’s leading hedge fund managers make further trips to Beijing seeking investment capital.
With assets of about $US300 billion by the end of 2008, the fund during September gave $1 billion to Oaktree Capital Management, a Los Angeles firm that buys distressed debt securities…………………..Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Mineweb.com: China’s sovereign wealth fund CIC has been speeding up its investment programme spending as much each month this year as in the whole of 2008 - and mining and energy are important targets.

China’s People’s Daily reports CIC chairman Lou Jiwei as saying that the fund was circumspect in its investment in 2008 as markets plunged investing only $4.8 billion outside China that year, but this year it has been investing around as much each month overseas as it did in the whole of 2008 with the main targets including mining, energy and real estate……………………Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Washingtonpost.com: Sources say China Investment Corp., China’s sovereign wealth fund, has been considering an investment in AES in return for a substantial equity stake. The deal would give AES more capital and greater access in China.
The sources commented on the condition of anonymity because the talks have been private……………………Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Reuters: Bahrain’s Gulf Air, which is fully owned by Bahrain’s sovereign wealth fund Mumtalakat, is in talks with Airbus and Boeing over its plane orders and expects to make a decision by year-end, the airline’s chief executive said on Sunday.

The struggling airlinehas 35 Airbus and 24 Boeing airplanes on order, but said in August it was reviewing its orders as the loss-making airline restructures……………………Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Vnagency.com.vn: Bao Viet Holdings recognised the State’s sovereign wealth fund, the State Capital Investment Corporation (SCIC), as a strategic partner, replacing former partner the Viet Nam Shipbuilding Industry (Vinashin) Group.

The deal follows SCIC’s acquisition of 20.4 million shares from Vinashin, making it the second leading shareholder in the insurer, after HSBC Insurance……………………Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Bigpondnews.com: Mongolia signed a deal with Rio Tinto and Canada’s Ivanhoe Mines to develop a $US4 billion gold and copper mine, Oyu Tolgoi mine. But the foreign partners would be barred from selling their stakes to sovereign wealth funds or other investors.
That is intended to reassure Mongolians who worry about economic domination by neighbouring China and feared that a Chinese government fund might try to buy into the project……………………Full Article: Source

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Posted on 26 October 2009 by VRS |  Email |Print

From Scotsman.com: Previously regarded as hostile raiders, the elite global club of sovereign wealth funds (SWFs) began to look more like saviours as the financial crisis unfolded in 2008.
They poured billions into American and European financial groups teetering on the brink of collapse and remain a source of both fascination and controversy in the global investment landscape……………………Full Article: Source

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