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Sovereign Wealth Funds Briefing 16.Feb 2010

Posted on 16 February 2010 by VRS |  Email |Print

From Temasekreview.com: In a letter to the Straits Times Forum yesterday, Myrna Thomas, the Managing Director (Corporate Affairs) of Temasek Holdings reiterates that it is a commercial entity which is wholly owned by the Ministry of Finance (incorporated) in response to an earlier speech by U.S. political economist Prof Huang Yasheng who criticized the Singapore’s government involvement in the private sector.
Speaking at the Civil Service College, Prof Huang urged Singapore to “rethink” the “Temasek model” and warns that Singapore’s state management model has “milked this system for all it is worth.” … Full article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Thelawyer.com: Linklaters and SJ Berwin have claimed key roles for sovereign wealth fund Chinese Investment Corporation’s (CIC) $956m (£611m) investment in Apax Partners.

SJ Berwin’s head of corporate Steven Davis led the team acting for longstanding client Apax. Corporate partners Michael Halford and Nigel van Zyl also worked on the deal…………………………………..Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Washingtonpost.com: As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway’s government-owned fund went along for the ride — and the fall.

After that fund recorded its worst-ever year in 2008, managers cited investments backed by U.S. mortgages as a key culprit and began to cut back…………………………………..Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Globalpensions.com: The China Investment Corp. (CIC) has partnered with chip maker Intel to invest in technology innovation, Intel said. CIC and Intel’s investment management arm Intel Capital, will invest “in pioneering companies across a wide array of technology sectors including cleantech, software and services, mobility and digital home”, Intel said.

The two investors will target companies outside of China, but Intel did not provide details regarding the amount of capital to be invested…………………………………..Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From WSJ: For Dubai World’s creditors, indignity piles upon indignity. News that the troubled state-controlled conglomerate plans to repay its lenders a meager 60 cents for every U.S. dollar they are owed is yet another blow for lenders who, until four months ago, assumed Dubai World’s debts came with an implicit sovereign guarantee.

Dubai World is seeking to reschedule $22 billion of debt. But while the banks may be furious, they have such a weak negotiating hand that they may have to settle for little more than what is on the table…………………………………..Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Maktoob.com: Saudi Basic Industries Corp, better known as Sabic, has borrowed 10 billion Saudi riyals ($2.7 billion) from the state’s Public Investment Fund, or PIF, which encourages the firm to boost its investment domestically and globally, said its chief executive Mohamed al Mady.
It will purse more investments this year, helped by its strong financial position and adequate liquidity………………………………….Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Thememriblog.org: Amru bin AbdAllah Al-Dabbagh, the governor of the Saudi General Authority for Investment, confirmed that the Authority has identified investment opportunities for the private sector of Qatar worth $300 billion.

Qatari private investors are guaranteed the same privileges and facilities accorded to Saudi investors…………………………………..Full Article: Source

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Posted on 16 February 2010 by VRS |  Email |Print

From Temasekreview.com: Singapore’s sovereign wealth fund Temasek Holdings has set up a global investment company run by its Chief Strategist Charles Ong.

Seatown Holdings Pte Ltd,which will manage billions of dollars will “target absolute returns”, said three people with knowledge of its plan, but asking not to be identified because the information is private…………………………………..Full Article: Source

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