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Sovereign Wealth Funds Briefing 09.Nov 2010

Posted on 09 November 2010 by VRS |  Email |Print

From Channelnewsasia.com: The Government of Singapore Investment Corp (GIC) and a Canadian pension fund could reportedly make a bid for Bluewater, a British mall. GIC, the Canada Pension Plan Investment Board and the property arm of Ontario Municipal Employees Retirement System were all expected to table a bid within the next two weeks.
The stake is estimated to be worth 120 million pounds……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From MarketWatch: China’s sovereign wealth fund, China Investment Corp., plans to form a wholly owned unit in Hong Kong to further its overseas investments, according to a statement on the fund’s website dated Sunday.
The new unit will “utilize Hong Kong’s position as an international financial center … [to] expand CIC’s investment activities outside the mainland,” the statement said. CIC said it has appointed Lawrence Lau, previously a member of the fund’s international advisory council, as chairman of the new unit……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From BNA: Bahrain Mumtalakat Holding Company, Bahrain’s sovereign wealth fund, announced that the Final Offering Price in the Initial Public Offering of Aluminium Bahrain is BD0.900 per Ordinary Share and US$11.97 per GDR, with one GDR representing five Ordinary Shares. The final price was determined through a bookbuilding process.
Ten per cent of the Ordinary Shares of Alba, amounting to 142,000,000 Ordinary Shares, in the form of 69,018,875 Ordinary Shares and 14,596,225 GDRs, were offered by Mumtalakat .There will be no over-allotment in connection with the Offering……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From Businessday.co.za: The state as manager and the state as investor are very different things, as is evidenced by the rapid growth in sovereign wealth funds (SWFs) in the past two decades.
Sovereign wealth funds, from Azerbaijan to Kuwait, from South Korea to Norway, are a growing and powerful presence now in international markets and in big real economies. The biggest shareholder in Daimler-Benz is the Kuwait Investment Authority. Norway’s Government Pension Fund is one of the biggest property owners in London……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From Theaustralian.com.au: Vulture funds could make $83 million on their Centro investment if the shopping centre owner gets taken over by a Lend Lease consortium. The property giant Lend Lease had teamed up with Singapore sovereign wealth fund GIC and a US firm and made an informal approach for the Centro Properties Group and its satellite trust Centro Retail Group.
Simon Marais, managing director of opportunistic investor Orbis Australia, yesterday said his company had purchased a 13 per cent stake in Centro Retail for an average of 12c per unit after the company nearly collapsed……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From Arendator.ru: Norway agreed to pay about 448 million pounds ($722 million) for 25 percent of London’s Regent Street, the first real-estate investment by the oil-rich country’s sovereign wealth fund.
The Norwegian Government Pension Fund Global will buy a share of 113 buildings on the West End street from the Crown Estate, the British monarchy’s property manager………………………………………Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From Edmontonjournal.com: The government of Alberta’s revenue volatility turns ordered plans topsy-turvy. Highly variable revenues make it difficult for the government to achieve a sustainable level of spending. Instead, Alberta’s spending tends to follow a boom-and-bust pattern — expenditures rise when oil and gas prices are high and abate when prices fall.
The rapid expansion of programs and capital spending during revenue booms stretches the capacity of the government to provide services and monitor spending, which can lead to waste and inefficiency……………………………………….Full Article: Source

Posted on 09 November 2010 by VRS |  Email |Print

From Ibtimes.com: The official foreign currency reserve assets rose to $267 billion in October, up by $900 million on September, the Hong Kong Monetary Authority (HKMA) said on Monday.
There were no unsettled forward contracts at the end of October and end of September, HKMA said in a statement……………………………………….Full Article: Source

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