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Sovereign Wealth Funds Briefing 04.Feb 2010

Posted on 04 February 2010 by VRS |  Email |Print

From Canadianbusiness.com: China’s main sovereign wealth fund has agreed to invest $956 million with British private equity fund Apax Partners LLP and might buy a stake in the company, a newspaper reported Thursday.

The China Investment Corp.’s investment in a 11.2 billion euro ($15.5 billion) fund has received British regulatory approval, the China Daily said, citing sources close to the fund. It said the deal also might include CIC buying 2.2 per cent of Apax……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Temasekreview.com: Government of Singapore Investment Corporation (GIC)’s S$14 billion dollar investment in giant Swiss bank UBS appeared to be in serious jeopardy following fresh concerns that UBS may face collapse if it loses its license in the United States after a protracted tax dispute.

GIC made its initial investment of S$14 billion to buy a 9 per cent stake in UBS on the same day that it was hit by a S$14 billion in losses from the sub-prime mortgage crisis in the United States in December 2007……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Alwatan.com.kw: Kuwait government has approved a plan to invest in financial and banking services in markets, which are expected to achieve economic growth by 10 percent in Asia and Latin America. Reliable sources have stated that the government expects that Kuwait Investment Authority (KIA) and Bank of America to achieve profits by 35 percent in exiting from investment.
It is worth mentioning that the KIA has already sold its share in Citigroup achieving profits worth 1.1 billion US dollars, equivalent to 36.7 percent of the revenues of invested capital……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Globalpensions.com: The US private equity owner of Gatwick airport has confirmed that it will sell a 12% stake to South Korea’s state pension fund.
It is believed that the deal will net Global Infrastructure Partners (GIP) a little less than £100m (US$160m)……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From News.az: An international risk management company is to create software to assess risks to the Azerbaijan State Oil Fund’s investment portfolio. RiskMetrics Solutions Inc. won a tender to provide the services, the State Oil Fund (SOFAZ) said in a statement today.

“RiskMetrics Solutions Inc. won the relevant tender of the State Oil Fund of Azerbaijan and a contract was signed with the company on 29 January 2010. The contract is estimated at $160,000,” the statement reads……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Alwatan.com.kw: A unit of Abu Dhabi governmentـowned Mubadala Development Company has launched a new company to provide component and engine financing to the aerospace sector, it said on Wednesday.
The new venture, Sanad Aero Solutions, has already signed a 100 million US dollar deal with Germany’’s Air Berlin for 12 spare engines, and for engine maintenance work for the carrier, Mubadala Aerospace said in a statement……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Khaleejtimes.com: Sanad Aero Solutions, the new company created by Abu Dhabi government’s investment firm Mubadala Development Company, has won two initial contracts worth a combined $130 million. The new venture is set up to provide component and engine financing solutions to the aerospace sector.

Aiming to deliver new capital for airlines and original equipment manufacturers (OEMs), Sanad was unveiled at the bi-annual Singapore Airshow. It will also finance a growing number of services from Mubadala’s maintenance, repair and overhaul (MRO) companies — SR Technics and Abu Dhabi Aircraft Technologies (ADAT)……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From FT Alphaville: Back in December, Thai prime minister Abhisit Vejjajiva told attendees at a conference in Bangkok that the country’s central bank has been considering setting up a sovereign wealth fund.

According to a report in AsianInvestor, PM Vejjajiva believed a sovereign wealth fund would allow the Bank of Thailand to have “more flexible management of surplus reserves”:…………………………………..Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Dow Jones: Thailand’s Government Pension Fund is reconsidering increasing its overseas investment, eying Asia for potential growth, newly appointed Secretary-General Sopawadee Lertmanaschai said Wednesday.

The country’s largest local institutional investor plans to invest in overseas real estate and infrastructure through foreign funds, while investment via private equity is also on the radar, she said in a briefing……………………………………Full Article: Source

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Posted on 04 February 2010 by VRS |  Email |Print

From Reuters: State-owned conglomerate Dubai World, which is restructuring some $22 billion in debt repayments, has yet to arrive at a formal standstill agreement with its creditors.
The company rocked global markets on November 25 with plans to request a delay on repaying $26 billion in debt linked to its main property units Nakheel and Limitless World……………………………………Full Article: Source

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