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Sovereign Wealth Funds Briefing 18.Oct 2010

Posted on 18 October 2010 by VRS |  Email |Print

From Zawya Dow Jones: Some of the world’s largest sovereign wealth funds and well-to-do families in the oil-rich Gulf states have emerged as fundraising competitors to private equity firms in the Middle East, but they could also help expand the market by replacing dried-up bank capital, industry executives said Sunday.
“I would say some of the sovereign wealth funds do compete with private equity in the region,” Stephen Murphy, managing director of institutional fundraising at Cairo-based Citadel Capital, told the Super Return Middle East LP summit in Abu Dhabi……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Businessweek.com: Bahrain’s sovereign wealth fund is looking to raise more than $500 million by selling off a stake in the Gulf nation’s aluminum smelter.
The Mumtalakat fund said Sunday it is holding an initial public offering for as many as 163.3 million shares in Aluminium Bahrain. That represents an 11.5 percent stake in the company……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Reuters: Bahrain’s sovereign wealth fund Mumtalakat plans to raise as much as 204 million dinars ($540 million) in the initial public offering (IPO) of Aluminium Bahrain (Alba), as it diversifies away from local investments.
Mumtalakat’s Chief Executive Talal Al Zain told a press conference in Manama that the retail portion of the offering would be priced at 1.250 dinars per share, while the price range for institutional investors was 900 fils to 1.250 dinars……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From The Canadian Press: Bahrain’s sovereign wealth fund is looking to raise more than US$500 million by selling off a stake in the Gulf country’s aluminum smelter, one of the kingdom’s industrial engines.
The initial public offering announced Sunday by Bahrain Mumtalakat Holding Co. is the fund’s first major sale since it was set up four years ago to manage the island country’s state-owned businesses……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Qatari Diar, backed by the Qatari Investment Authority, will fund the multibillion-pound development of the former Chelsea Barracks through its own cash.
Qatar has been one of the most active investors in the London market, with state-backed groups acquiring stakes in companies such as Canary Wharf as well as other developments, including the Shard skyscraper at London Bridge……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Hassad Food, the food arm of Qatar Investment Authority (QIA) plans to build a new food market at a cost of QR25m in Doha selling local products at affordable prices.
Works on the new market near the existing central fruit and vegetable market, in an area of 13,000sqm, is to start by the end of this year and will be completed in 12 months……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Reuters: Sovereign wealth fund China Investment Corp (CIC) and Ping An Insurance Co of China are among big Chinese institutional investors eyeing significant stakes in AIA Group, the FT reported, citing people working on the deal.
AIA, the Asian life insurance unit of bailed out insurer American International Group, will be listed in Hong Kong through an initial public offering to raise up to $20.5 billion……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Lse.co.uk: American International Group Inc is set to close the institutional book for the AIA IPO on Tuesday, two days ahead of schedule due to strong demand. Sovereign wealth fund China Investment Corp, China Life and Ping An Insurance are expected to take stakes in the IPO, the same source said on Monday.
The source declined to be named because they were not authorised to speak to the media……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Npr.org: AIA says institutional investors have pledged to buy $1.92 billion in shares. Major investors include the Kuwait Investment Authority ($1 billion), the Malaysian government employee pension fund Kumpulan Wang Persaraan ($200 million) and Malaysia’s Hong Leong Financial Group Berhad, which is investing $370 million and $50 million through two units.
Hong Kong tycoons Cheng Yu-tung and Peter Woo have also signed on. Cheng is buying $388 million in shares through an investment holding company and the same amount through his company NWS Financial Management Services Ltd. Woo pledged $200 million through Lorita Investments Ltd……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Bloomberg: Global Logistic, the overseas logistics unit of Government of Singapore Investment Corp., advanced to S$2.17 at 9:02 a.m. local time from the offer price of S$1.96 a share, after earlier reaching S$2.19. GLP sold stock at the top end of a range marketed to investors.
Asia has taken the lead in IPOs globally this year with seven of the 10 largest sales worldwide, according to data compiled by Bloomberg. India today starts the 151.5 billion rupee ($3.4 billion) sale of stock in Coal India Ltd., the nation’s biggest-ever IPO……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Todayonline.com: The anonymous team behind socio-political website Temasek Review say that they are willing, in principle, to change the name of their website. It is not known where the team is based but they said they would agree to the change if Temasek Holdings contacts them to clarify if it is claiming exclusive rights to the word “Temasek” around the world.
The investment firm had sent a letter last Friday to general practitioner Dr Joseph Ong to change the name of the website, after The New Paper reported he was its founder, a claim Dr Ong disputes……………………………………….Full Article: Source

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Posted on 18 October 2010 by VRS |  Email |Print

From Norwaypost.no: Norway’s Government Pension Fund Global tops a new ranking of 53 sovereign wealth funds (SWFs) in 37 countries by researcher Edwin M. Truman, Aftenposten reports.
The ranking evaluates the management and governance of funds including California’s CalPERS and Dutch ABP, which often are not classified as SWFs. This is the third year in a row that Truman ranks different sovereign wealth funds……………………………………….Full Article: Source

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