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Sovereign Wealth Funds Briefing 22.Jun 2010

Posted on 22 June 2010 by VRS |  Email |Print

From Khaleejtimes.com: Arab sovereign wealth funds boosted their size marginally in the first quarter of 2010 to $1.64 trillion aided by new cash injections and market recovery, data compiled in a recent study show.
“Along with new injections by their parent sovereigns, Arab sovereign wealth funds (SWF) are estimated to hold a total of as much as $1.62 trillion in assets in 2009 — increasing marginally to $1.64 trillion as of March 2010 — compared to holdings of between $0.9 and $1.5 trillion in 2007,” said the study titled “How Have Arab SWFs Been Affected by the
Financial Crisis?”………………………………………Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Arabianbusiness.com: GCC sovereign wealth funds are seeking to invest heavily in the New York property market, a leading Manhattan-based real estate lawyer has told Arabian Business.
“There’s definitely been a renewed interest from Middle Eastern governmental funds coming back into the market, reworking their positions, and pre-negotiating with lenders on major positions that they’re holding,” Rheem Bell & Mermelstein co-founder Edward Mermelstein said in an interview……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Reuters: Qatar’s sovereign wealth plans to invest $2.8 billion in Agricultural Bank of China’s initial public offering, sources confirmed.
Qatar Investment Authority (QIA) was one of the most active sovereign funds in 2009 with 14 publicly reported investments valued at over $32 billion. The fund was established in 2005 and is believed to have assets under management around $70 billion……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Tradearabia.com: The Kuwait Investment Authority has invested $800 million in Agricultural Bank of China, two sources said on Monday, giving Middle East funds a big slice of AgBank’s likely record $23 billion IPO.
The same sources confirmed a weekend report that the Qatar Investment Authority agreed to invest $2.8 billion in AgBank, a bigger-than-expected sum that gets underwriters closer to their goal of raising around $6 billion through cornerstone investors in the planned Hong Kong offering……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Reuters: Bahrain’s sovereign wealth fund Mumtalakat plans to raise at least $500 million from a sale of bonds maturing in a minimum of five years, banking sources said on Monday.
The bond sale could be launched in the next few days to take advantage of a global rally and a boost from China’s vow to allow a more flexible yuan exchange rate. Beijing’s move has boosted global stocks and led to a fall in U. S. debt prices……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Kuwaittimes.net: A fast-growing Abu Dhabi investment fund that is the top shareholder in Mercedes-Benz maker Daimler signaled yesterday it may take itself private, potentially shielding it from transparency requirements.
Aabar Investments announced it is considering the move in a brief regulatory filing on Abu Dhabi Securities Exchange. The firm is unusual among the Gulf’s often secretive investment funds in that it sells some shares to the public……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Bloomberg: Sovereign wealth funds from China, Singapore and South Korea and two private-equity firms agreed to invest $900 million in Chesapeake Energy Corp., the third- largest natural-gas producer in the U.S.
The investors bought the Oklahoma City-based gas company’s 5.75 percent convertible preferred stock on June 18, Chesapeake said yesterday in a statement, without giving details of the individual stakes. South Korea’s $30 billion sovereign wealth fund said yesterday it will spend $200 million……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Reuters: Korea Investment Corp (KIC) said on Monday it would invest $200 million in Chesapeake Energy Co as the U.S. No.2 natural gas company was set to issue $900 million worth of convertible preferred stock.
China Investment Corp (CIC) and Singapore state investor Temasek Holdings [TEM.UL] would also take stakes in Chesapeake, although the exact investment amount was not disclosed, KIC said in a statement……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Bloomberg: Korea Investment Corp. will invest $200 million in Chesapeake Energy Corp., the third-largest U.S. natural-gas producer, as the South Korean sovereign wealth fund seeks to diversify its portfolio.
KIC joined other sovereign wealth funds Temasek Holdings Pte of Singapore and China Investment Corp., as well as private equity firms Hopu Investment Management Co. and Li Ka Shing (Canada) Foundation in the investor group that bought a total of $900 million of 5.75 percent convertible preferred stock on June 18, Chesapeake said today in a statement. The individual stakes weren’t announced……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Pehub.com: Yingru Li has been named co-chief investment officer for China Asean Fund, a $1 billion private equity fund targeting infrastructure, energy and natural resources opportunities in Southeast Asia.
Li previously was a managing director in of private equity investments for China Investment Corp. (one of CAF’s largest LPs) — a role that now will be filled by Jingping Guo (mostly focused on fund commitments and co-investments)……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Thestar.com.my: RiskMetrics, an independent advisory firm, yesterday recommended that Parkway investors approve a proposal allowing a partial takeover bid by Malaysia’s Khazanah Nasional Bhd.
The company said Khazanah’s offer price of S$3.78 a share exceeded Parkway’s share price before the offer, and shareholders would still be free to decide whether or not to accept Khazanah’s offer after the vote……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Reuters: Kazakhstan is ready to cut stakes in key companies to modernize the economy, and is looking to sell banks and energy assets in the next five years, the head of the sovereign wealth fund Samruk-Kazyna said.
“We are in discussions. A political decision is pending. For many large companies linked to Samruk-Kazyna there is talk of IPOs within 3-5 years,” Kairat Kelimbetov, chairman of the fund, whose holdings exceed $70 billion, told Reuters in interview……………………………………….Full Article: Source

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Posted on 22 June 2010 by VRS |  Email |Print

From Bloomberg: International pension and sovereign wealth funds are increasing demand for local Brazilian government bonds, lured by interest rates above 10 percent and a stable economy, Deputy Treasury Secretary Paulo Valle said.
Foreign investors hold 8.7 percent of Brazil’s domestic debt, compared with almost zero in 2006, Valle said in an interview at Bloomberg headquarters in New York. Investors from European and Asian nations such as South Korea and China are showing more interest, he said……………………………………….Full Article: Source

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