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Sovereign Wealth Funds Briefing 29.Oct 2010

Posted on 29 October 2010 by VRS |  Email |Print

From Reuters: France’s sovereign wealth fund is considering an investment in indebted French shipping company CMA CGM alongside Turkish conglomerate Yildirim, a spokesman for the fund said on Thursday.
Marseille-based container shipping line CMA CGM, which began talks with lenders a year ago on over $5 billion of debt after being hit by an industry wide slump, has already agreed a $500 million investment from Yildirim, according to three sources close to the deal……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Efinancialnews.com: Private equity firms will rely heavily on the support of sovereign wealth funds and pension funds when for their next round of fundraising, according to the co-head of one of Europe’s biggest private equity firms, with question marks hanging over banks and insurers as future sources of capital.
Mark Corbidge, co-head of private equity at UK firm Doughty Hanson, said that “pension funds and sovereign wealth funds will constitute the main source of funding” for firms raising new funds. Corbidge said that the ability of firms to raise new funds of a not too dissimilar size to their previous funds “will depend on whether they have stuck to their business model or gone off-piste, away from (what they outlined) in their [fund marketing documents]“……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Temasekreview.com: Tony Hayward, the recently-departed chief executive of BP, is being courted to take a role at Temasek Holdings, the Singaporean state investment fund. Hayward, who stepped down as BP’s boss at the beginning of the month, has been holding talks with Temasek that are believed to be about a possible appointment to its international advisory panel.
Last month, the former BP chief executive spoke at a conference in Singapore organised by Temasek and discussions about a role have apparently taken place since then……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Bi-me.com: Mubadala Development, an Abu Dhabi government investment unit, wants to expand in emerging markets over the coming years as the company diversifies its investments.
A “gaping hole is going to be addressed in the next two or three or four years and it’s about emerging market exposure,” Chief Operating Officer Waleed Al Mokarrab Al Muhairi told Bloomberg Wednesday at the World Economic Forum in Marrakesh, Morocco……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Tradearabia.com: Fitch Ratings says it is unlikely that there will be a rating impact on Bahrain Mumtalakat Holding Company from the Bahrain government’s plan to inject more than $1 billion into its 100 per cent subsidiary Gulf Air.
Fitch continues to expect that the capital injection and any additional material financial support to Gulf Air will be assumed directly by the government via Mumtalakat……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Thenational.ae: Mumtalakat, Bahrain’s government investment arm, plans to sell part of Gulf Air to private investors once the beleaguered airline returns to profitability, expected in about three years, says the fund’s chief executive.
The sale of Gulf Air, Bahrain’s national carrier, is part of a broader new strategy to generate cash and diversify Mumtalakat’s portfolio of investments, Talal al Zain said on the sidelines of the World Economic Forum in Morocco……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Telegraph: Money wasn’t a problem, of course. Qatar has been pretty comfortable for some time, ever since oil was discovered in the 1940s. But the thing that made all the difference to its cash pile – now estimated at well over £50 billion, including the Emir’s personal wealth and the Qatari sovereign wealth fund – was something called the Main Cryogenic Heat Exchanger (MCHE).
Over the past four decades, the ever-improving technology of the MCHE has revolutionised life in Qatar and made Sheikh Hamad a force to be reckoned with……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Arabtimesonline.com: The emirate has its own sovereign wealth fund, the Ras Al Khaimah Investment Authority (RAKIA), which has a portfolio of around $2 billion.
In official recognition of Sheikh Saud’s succession to the post of emir, the UAE’s Federal Supreme Council “expressed its full support for Sheikh Saud as ruler of Ras al-Khaimah,” in a statement carried by the news agency……………………………………….Full Article: Source

Posted on 29 October 2010 by VRS |  Email |Print

From Businessweek.com: Khazanah Nasional, the sovereign wealth fund, has been selling stakes in listed companies. Its 32.2 percent stake in Pos Malaysia, the postal service, may soon be sold.
A planned offering of Petronas Chemicals, a division of state-owned Petronas, may raise as much as $4.2 billion and be Southeast Asia’s biggest IPO this year……………………………………….Full Article: Source

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