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Sovereign Wealth Funds Briefing 20.Aug 2010

Posted on 20 August 2010 by VRS |  Email |Print

From Nytimes.com: China’s $300 billion sovereign wealth fund may pick the China Asset Management Company, the country’s largest fund manager, to oversee part of its international investments, a person with direct knowledge of the matter said.
The China Investment Corporation, which is responsible for managing part of the nation’s foreign-exchange reserves, would invest through China Asset’s Hong Kong unit, the person said, requesting anonymity as no announcement has been made……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Bloomberg: Central Huijin Investment Co., the state company that controls China’s biggest banks, plans to sell 187.5 billion yuan ($28 billion) of bonds to bolster its stakes in the lenders.
The domestic arm of the nation’s sovereign wealth fund, China Investment Corp., will sell 40 billion yuan in the first portion Aug. 24 on the interbank market, it said in a statement today on the website of Chinabond, the official clearinghouse……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte said Gregory Curl, once a candidate for chief executive officer of Bank of America Corp., will join the Singapore state-owned investment company as president.
Simon Israel, Temasek’s executive director, will also assume the role of president, the company said in an e-mailed statement today……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Straitstimes.com: Temasek Holdings has appointed Bank of America veteran Gregory Curl as a new president in the latest move to provide support for its senior leaders.
Mr Curl, 62, will oversee its investments in financial services and support its strategic engagement in the Americas. His appointment follows that of former Singapore Exchange chief executive Hsieh Fu Hua as executive director and president on Aug 1……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Businessghana.com: While Pacifica, a joint venture between the Government of Singapore Investment Corporation and Host Hotels and Resorts, has 36 per cent stake in the fund, Accor and Interglobe holds the remaining stake.
“We are in great expansion mode in India. We are going to invest on building hotels in the midscale and economy segment,” Accor Chief Executive Officer Gilles Pelisson said……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From FT Alphaville: We already know there’s a two-tiered market out there in Europe, so may as well put it to work chasing yield. Norway’s sovereign wealth fund is already loading up on peripheral government debt, after all.
And there’s plenty of positions here — government-backed banks, say. But the position overall ain’t going to last, thanks to its key underpinning by the EFSF, which we presume isn’t going to last forever……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Marketwatch.com: Sovereign wealth funds, Chinese banks and other national financial institutions could fund a global consortium to make a counter-offer to keep Potash out of BHP’s hands, The Wall Street Journal reported, citing people familiar with the matter.
“We are not opposed to a sale, we are opposed to a steal of the company,” said Potash Chief Executive Bill Doyle, according to the Journal report……………………………………….Full Article: Source

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Posted on 20 August 2010 by VRS |  Email |Print

From Ctv.ca: Sovereign wealth fund China Investment Corp., which has taken minority stakes in other Canadian resource assets and companies, could also get involved. CIC could take a minority stake in Potash while helping bankroll a bid from another mining firm.
For a guaranteed supply, China could also make a direct minority investment in Potash to help it fend off BHP……………………………………….Full Article: Source

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