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Sovereign Wealth Funds Briefing 22.Jan 2010

Posted on 22 January 2010 by VRS |  Email |Print

From Livemint.com: Qatar Investment Authority, or QIA, the sovereign investment fund promoted by the emirate’s ruling family, is in the final stages of negotiations to purchase a 10% stake in Hinduja National Power Corp. Ltd, or Hinduja Power, said two persons familiar with the development.
The fund will pay Rs200 crore($44 million) , at Rs40 a share, for the stake in the company that’s building a 1,040 MW coal-based energy plant at Visakhapatnam in Andhra Pradesh……………………………….Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From Gulf-daily-news.com: Bahrain’s sovereign wealth fund Mumtalakat is focussing on further improving its corporate governance before getting a credit rating and is relaxed about a Parliamentary probe, its chief executive said yesterday.

Talal Al Zain said that the fund was still working on improving the financial reporting structures and corporate governance of its portfolio companies……………………………….Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

China Investment Corporation (CIC) plans to stick to an asset allocation-oriented investment strategy this year, said Lou Jiwei, chairman for the Beijing-based company, at the Asian Financial Forum in Hong Kong on January 20, 2010.

The sovereign wealth fund will fine-tune its investment portfolio and beef up its management in the year, strengthening allocation in projects with a quick return on investment. The company will make the investment in the high return breeding-assets its proprietary operation, according to Mr. Lou……………………………….Full Press Release: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From WSJ: Sovereign wealth funds struck $6.9 billion of deals, in just 10 transactions, defeating the private equity/venture capital category, which scored $4.69 billion across 274 deals. In number of transactions, hedge funds ruled with 734 investments, but their $3.92 billion was only good for fifth place in dollar total.
China Investment Corp. was the top investor by dollars, with $3.08 billion. The PE entrants in the Top 10 were BC Partners, Clayton Dubilier & Rice and Warburg Pincus. By number of investments, Downsview Capital led the way with 31 transactions……………………………….Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

Chief Investment Officers from the Abu Dhabi Investment Authority (ADIA) and the Abu Dhabi Investment Council (ADIC) have just confirmed to join fellow Mid-East investors at the 2nd Latin America Mid-East Investors Forum (LA-MEIF), co-hosted by LatinFinance and the Gulf Latin America Leaders Council (GLLC), on April 26-27 at the Fairmont Bab Al Bahr in Abu Dhabi, UAE.

On the LatAm side, Marcelo Torres, CFO of OGX (one of the largest LatAm companies by market cap), Hugo Sarmiento, CFO of Corporacion Andina de Fomento (CAF), and Alonso Garcia Tames, CEO of the National Bank of Public Works and Services of Mexico (Banobras) confirmed this week as well……………………………….Full Press Release: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From Reuters: Canada-listed coal miner SouthGobi Energy Resources Ltd priced its Hong Kong initial public offering at C$17.00 each, to raise about US$439 million. SouthGobi, which secured Asia’s top sovereign wealth funds, China Investment Corp (CIC) and Temasek as cornerstone investors, will start trading on Jan 29.

The company sold 27 million new shares, or about 16.8 percent of its enlarged share capital, at C$17.00 or HK$126 each……………………………….Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From China Knowledge: China Africa Development Fund has invested nearly US$540 million in 27 projects in Africa as of today, China’s Ministry of Commerce said on Tuesday.

The fund, backed by China Development Bank, was launched in 2007 with an initial capital of US$1 billion. It finances Chinese firms that are already operating in Africa and provide financial advice to potential investors……………………………….Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From Bloomberg: Petroleo Brasileiro SA is weighing a proposal by Qatar to take a stake in Brazil’s state-controlled oil producer as it seeks cash to develop offshore fields including the Americas’ largest discovery in three decades. The Qatar Investment Authority, the country’s sovereign wealth fund, has about $75 billion worth of investments outside the country.

“Petrobras is a big company and it has a lot of activities, so why not?” Qatari Energy Minister Abdullah bin Hamad al-Attiyah said today in an interview in the Qatari capital, Doha. “Now they will discuss it and evaluate it.” ………………………………Full Article: Source

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Posted on 22 January 2010 by VRS |  Email |Print

From Reuters: China will look for new ways to invest the world’s largest foreign exchange reserves this year to generate higher returns, a senior regulatory official said on Thursday.

It would be a challenge for the country not just to preserve but to increase the value of the $2.4 trillion stockpile, said Guan Tao, head of the international balance of payment department at the State Administration of Foreign Exchange (SAFE)……………………………….Full Article: Source

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