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Sovereign Wealth Funds Briefing 07.Oct 2010

Posted on 07 October 2010 by VRS |  Email |Print

From Dow Jones: Japan’s ruling party unveiled an economic stimulus plan Wednesday that calls for Japan to consider making use of its $1.07 trillion in foreign reserves to create a sovereign wealth fund. In doing so, Japan would join other large foreign currency reserve countries such as the UAE, Russia and China, but would be the first G-7 economy to take such a step. A Japanese sovereign wealth fund has been contemplated in the past, but has always been rejected.
In explaining the reasons for such a move, the plan’s chief architect, former trade minister Masayuki Naoshima pointed to the need to get a greater return on Japan’s overseas investments……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Theaustralian.com.au: Japan may become the first Group of Seven nation to launch a sovereign wealth fund out of $US1 trillion in foreign reserves. The country’s ruling Democratic Party of Japan overnight unveiled an economic stimulus plan worth more than $US57.6 billion ($59bn).
That plan also calls for Japan to consider making use of its $US1.07 trillion in foreign reserves to create a sovereign wealth fund. If approved, Japan would join other nations with large foreign-currency reserves, such as China, the United Arab Emirates and Russia, which have sovereign wealth funds that have taken greater roles in global deal-making……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Todayonline.com: Temasek Holdings is said to be one of the potential investors targeted by US automaker General Motors (GM) in a planned stock sale.
Bankers for GM reportedly met officials from sovereign wealth funds and private investors in the Middle East and Asia to gauge interest in GM. Its bankers are apparently approaching Temasek and others like Saudi Arabia-based Kingdom Holding and Abu Dhabi-based Mubadala Development……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Moneynews.com: Investment bankers for General Motors Co. have met with sovereign wealth funds and private investors in the Middle East and Asia to gauge interest in the automaker’s planned stock sale, said two people familiar with the meetings.
GM’s bankers had planned to approach Riyadh, Saudi Arabia- based Kingdom Holding Co., Abu Dhabi-based Mubadala Development Co., Qatar Holdings LLC and Singapore-based Temasek Holdings Pte. about GM’s initial public offering, said one of the people, who asked not to be named because the discussions are private……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From WSJ: Global Logistic Properties Ltd., a unit of sovereign wealth fund Government of Singapore Investment Corp., is looking to bring its Singapore listing forward by up to seven days to the week starting Oct. 11 due to strong demand for the offer, people familiar with the transaction said Wednesday.
GLP is looking to raise as much as $2.7 billion in an initial public offering. In a prospectus filing with the Monetary Authority of Singapore last week, GLP said the listing for the stock was scheduled for Oct. 18……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Dow Jones: South Korea’s National Pension Service, the world’s fifth- largest pension fund, said Thursday that it will strengthen strategic ties with United Arab Emirates sovereign wealth funds Abu Dhabi Investment Authority and the Mubadala Development Company as it seeks to increase overseas investments.
The fund, in a statement, said Chairman Jun Kwang-woo met with ADIA Managing Director Sheikh Hamed bin Zayed Al Nehayan and Mubadala Chief Executive Khaldoon Khalifa al Mubarak during a recent overseas trip……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Telegraph: The Kazakh sovereign wealth fund yesterday raised its stake in Kazakhmys to 26pc, netting the miner’s chairman, Vladimir Kim, £850m for an 11pc stake.
The government will be Kazakhmys’s largest shareholder if Mr Kim goes through with a plan to list a further 4pc of the £7.64bn copper miner in Hong Kong……………………………………….Full Article: Source

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Posted on 07 October 2010 by VRS |  Email |Print

From Guardian: Kuwaiti sovereign wealth fund Investment Dar has sold off some of the Warwickshire-based car maker’s land and buildings, the distribution rights to sell cars in the Middle East and North Africa and the right to use the name in merchandise such as clothing.
Investment Dar bought a majority stake in company from Ford for about £500m in 2007, using a £200m loan from WestLB bank which is repayable in 2015……………………………………….Full Article: Source

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