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Sovereign Wealth Funds Briefing 14.Dec 2009

Posted on 14 December 2009 by VRS |  Email |Print

From Business24-7.ae: Cash-rich sovereign wealth funds – particularly those based in Abu Dhabi and Saudi Arabia – are seeking a larger role in private equity deals and want to cultivate special relationships with buyout houses as they become influential cornerstone investors in their funds.

Singapore’s GIC unveiled its investment in German publisher Springer alongside Swedish buyout firm EQT, a sign sovereign funds are ready to help buyout firms pursue larger deals as M&A markets begin to thaw……………………………….Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

From Privateequityblogger.com: Sovereign wealth funds, large state-owned investment vehicles, are looking to invest in buyout firms. Sovereign wealth funds are typically a pool of wealth derived from economic surpluses or profits from a country’s natural resources, then a manager will invest those profits in various areas including alternative assets.

These pools of capital are a potential fundraising resource for private equity firms, which could make up for the lower interest from other institutional investors following the crisis……………………………….Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

From Chinadaily.com.cn: China Guandong Nuclear Power Co (CGNPC) from China’s major economic engine Guangdong Province, signed the program with Kazakstan’s sovereign wealth fund Samruk Kazyna.

The program will be followed by a series of cooperative projects jointly launched by the two countries in the field of renewable energy……………………………….Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

From Reuters: Kuwait’s sale of its stake in Citigroup earlier this month was not due to a dispute with the U.S. bank, the Gulf Arab state’s finance minister said in published remarks on Sunday.

Mustapha al-Shamali told al-Rai newspaper that there is no dispute between the country’s sovereign wealth fund the Kuwait Investment Authority (KIA) and Citigroup……………………………….Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

From Chinapost.com.tw: Dubai World’s possible default on US$26 billion of debt would be best settled through “commercial negotiations” rather than in court as insolvency laws in the United Arab Emirates are not as developed as in the west, a partner at law firm DLA Piper Middle East LLP said.
Creditors and borrowers in the U.A.E. “do not have access to insolvency mechanisms or tools, such as receivership, administration or Chapter 11 protection to address potential default situations,” Tony Holland, a partner and regional head of finance at DLP Piper, said in a phone interview from Dubai today. “Commercial negotiation is seen as the preferred approach, rather than recourse to the courts.”………………………………Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

From WSJ: The Government of Singapore Investment Corp. has made its first European co-investment after teaming up with a Nordic private equity firm to carry out the largest buyout in the region for 18 months.

State fund GIC and EQT Partners have bought German media group Springer Science+Business Media for around EUR2.3 billion ($3.4 billion) from buyout firm Cinven and troubled private equity firm Candover Partners, according to sources close to the situation. GIC has taken an 18% stake in the company while EQT has taken 82%………………………………Full Article: Source

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Posted on 14 December 2009 by VRS |  Email |Print

The Board of Directors of Springer Science+Business Media (Springer Group), composed of Springer executives and representatives of Cinven and Candover, have agreed to accept an offer from and have signed a sales agreement with a partnership of EQT, a private equity investor based in Sweden, and GIC, a Singapore-based co-investor, for all shares of the Springer Group.
The Springer Group is the world’s second largest scientific, technical and medical (STM) publisher and a leader in the digitalization of scientific information……………………………….Full Press Release: Source

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