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Sovereign Wealth Funds Briefing 29.Dec 2009

Posted on 29 December 2009 by VRS |  Email |Print

From Domain-b.com: The sovereign wealth fund of Abu Dhabi and Canada’s largest pension fund have teamed up to make a £5 billion joint bid for French energy giant Electricite de France’s (EDF) electricity distribution network in the UK.

“One of the world’s largest sovereign wealth fund, the $627 billion Abu Dhabi Investment Authority (ADIA) is teaming up with Canada’s biggest pension fund, the $106 billion Canada Pension Plan (CPP),” the Telegraph Co UK said yesterday citing sources…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From 7days.ae: Abu Dhabi Investment Authority (ADIA) has reportedly entered into a business partnership with Canadian Pension Plan (CPP) to submit an offer for EDF’s electricity distribution net-work in the UK.

ADIA and CPP are working on an $8 billion bid for the network which distributes power in London and the southeast of England, sources revealed…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From China.org.cn: China Investment Corporation (CIC) may invest up to $300 million in the proposed Hong Kong float of Russian aluminum producer United Co Rusal, a source close to the sovereign wealth fund said yesterday.

The $300 billion fund is, however, yet to take a final decision in this regard, as buying into the highly indebted company is still viewed as a risky investment, the source told China Daily on condition of anonymity…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From China Knowledge: China Investment Corp, the country’s US$300-billion sovereign wealth fund, acquired a 20% stake in China’s leading green energy supplier, GCL-Poly Energy Holdings Ltd, said GCL-Poly Energy in a statement filed with the Hong Kong Stock Exchange.

GCL-Poly Energy said that CIC spent HK$5.56 billion to buy 3.11 billion shares of the firm at HK$1.79 apiece…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From Imarketnews.com: China Investment Corporation, a new-$300 billion sovereign wealth fund established in 2007 with a view to challenging SAFE’s dominance of foreign exchange reserve management, has recently applied to the State Council for another $200 billion in reserves to manage.

The hiring of an investment manager from PIMCO doesn’t indicate a change in strategy by China’s State Administration of Foreign Exchange, an official with the reserve manager said Tuesday…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From Apa.az: Azerbaijan’s President Ilham Aliyev has approved State Oil Fund of Azerbaijan’s main areas of spending in 2010.

According to the spending scheme, funds will be used for the improvement of social conditions and accommodation of refugees and internally displaced persons, transfers to the budget, construction of water supply pipeline to Baku from Oguz-Gabala zone, reconstruction of the Samur-Absheron irrigation system, the Baku-Tbilisi-Kars Railway Project and the State Programme for Study of Youth Abroad in 2007-2015…………………………………….Full Article: Source

Posted on 29 December 2009 by VRS |  Email |Print

From Theaustralian.com.au: The year saw a new buying force emerge in Asia: China’s $US300bn sovereign wealth fund. China Investment Corp, which announced more than $US8.15bn worth of acquisitions throughout the year.

“A lot of investments have been made in the natural resources and commodities sectors,’ said Colin Banfield of Nomura head of M&A for Asia-Pacific…………………………………….Full Article: Source

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