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Sovereign Wealth Funds Briefing 13.Aug 2010

Posted on 13 August 2010 by VRS |  Email |Print

From Gulfnews.com: The Qatar Investment Authority and the Saudi Arabian Olayan Group will partner Israel’s IDB Holdings and Swiss bank Credit Suisse in a $1 billion (Dh3.67 billion) credit fund targeted at emerging markets.
Each of the partners will contribute $250 million to seed the fund, people close to the transaction told Gulf News. QIA, Olayan and IDB all have a shareholding in Credit Suisse……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Csmonitor.com: Some African countries say the path to success lies in putting oil revenues into sovereign wealth funds that operate outside public scrutiny.
The continent’s top oil exporters, and even some of its newcomers like Ghana, are taking advice from similarly resource-endowed countries that run state revenues through SWFs, many of them in the Middle East and Asia……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Africa’s nascent sovereign funds are turning to Asia and the Gulf for a steer on how to manage resource revenues, a move that could shield wealth for the future and lure more attention from international investors.
But there is no simple “cut and paste” model as Africa faces a challenge in striking a balance between spending today to build infrastructure and reduce poverty and saving for tomorrow, as well as guarding against corruption and squandering……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Uaeinteract.com: Abu Dhabi Investment Authority (Adia) and two other sovereign wealth funds have expressed interest in investing in the US$15 billion initial public offering planned by American International Group’s (AIG) Asian life insurance unit.
AIG has started talks with potential investors to sell stakes in its Asian life insurance business AIA ahead of its planned IPO, sources with direct knowledge of the matter said……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Reuters: American International Group Inc has started talks with potential investors to sell stakes in its Asian life insurance business AIA ahead of AIA’s planned IPO, sources with direct knowledge of the matter said.
Several financial investors, including Temasek Holdings , China Investment Corp and Abu Dhabi Investment Authority have expressed interest in buying cornerstone stakes in AIA, they added……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Thestar.com.my: Khazanah Nasional Bhd had secured a 64.1% level of acceptances in its voluntary general offer (VGO) for the takeover of Singapore hospital group Parkway Holdings Bhd as at Tuesday.
While the actual closing is at 5pm on Monday, Integrated Healthcare Holdings Ltd (IHHL), which is an indirect wholly-owned subsidiary of Khazanah, has in effect gotten the necessary majority to take over Parkway at $S3.95 (RM9.25) per share……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From China Knowledge: China Central Huijin Investment Ltd, the domestic investment arm of the nation’s sovereign wealth fund, China Investment Corp, plans to issue its first batch of bonds as early as end of August to raise about RMB 54 billion and to raise up to RMB 187.5 billion by the end of 2011 via bond issues, the Wall Street Journal reported, citing a source with the knowledge of the matter as saying.
Central Huijin expects the bond issues to help maintain shareholdings in Chinese major state-owned banks, said the sources……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From WSJ: China Everbright Bank Co., owned by Central Huijin Investment Ltd., the domestic investment arm of China’s sovereign-wealth fund, aims to raise up to 21.7 billion yuan ($3.21 billion) in its initial public offering in Shanghai, after setting a 2.85 yuan-3.10 yuan price range for the share float, said a person familiar with the situation Friday.
The midsize bank is expected to price its IPO at the top end of the range, as most major Chinese stock listings have fetched a higher-than-expected valuation, benefiting from ample liquidity in China’s financial system and an improved stock-market climate, analysts say……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Corporatefinancingweek.com: At a time when many institutional investors are still licking their wounds over loses in real estate investment portfolios in the US, the deep-pocketed China Investment Corporation (CIC) is busy buying its way in.
Significantly, the Chinese state-backed investment vehicle is doing so via the backdoor. In line with CFW ’s key market view that sovereign wealth funds (SWFs) are set to become increasingly active investors, China’s CIC has moved to acquire the Harvard University endowment interest in a collection of real estate funds worth a combined US$500mn……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From AP: A group of Chinese investors said Friday that any offer it makes to buy Liverpool from Tom Hicks and George Gillett Jr. won’t enrich the embattled American co-owners. Marc Ganis, whose Chicago-based company Sportscorp Ltd. has helped form the investment group, said it first contacted Liverpool chairman Martin Broughton on Monday, a day after reports of a possible bid first surfaced.
China Investment Corp. — the country’s sovereign wealth fund — would not have a direct ownership stake in the club. However, Ganis said it may be part of an investment vehicle organized by Yang and his financial team that would have a passive ownership interest……………………………………….Full Article: Source

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Posted on 13 August 2010 by VRS |  Email |Print

From Hindustantimes.com: It didn’t get much notice, but the Indian government stated in Parliament that it had deep-sixed a plan to set up a sovereign wealth fund (SWF). The idea of an Indian SWF makes an appearance every two years or so.
After wasting a few hundred man-hours of the bureaucracy’s time, it is examined and then dropped – only to be brought back in a new form……………………………………….Full Article: Source

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