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Sovereign Wealth Funds Briefing 16.Nov 2010

Posted on 16 November 2010 by VRS |  Email |Print

From Indiatimes.com: Sovereign wealth funds from Norway to Abu Dhabi are increasing bets on India by buying into Coal India and Power Grid issues as they increase their share of emerging market assets when the West is grappling with shaky sovereign ratings and tepid growth.
Norway’s Norges Bank Investment Management, the world’s second-biggest sovereign wealth fund built on revenues from oil and gas, was among the top bidders for Power Grid shares last week. GIC of Singapore, which owns stake in ICICI Bank , bid for $500 million worth shares in Coal India, said two people familiar with the bids. Mubadala, the world’s wealthiest fund from oil-rich emirate Abu Dhabi, also bid, they said………………………………………Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Brisbanetimes.com.au: Abu Dhabi state investment firm Mubadala Development Co said on Sunday it’s selling back its five per cent stake in Ferrari but hopes to continue working with the high-powered Italian automaker.
The investment fund is a sponsor of Ferrari’s Formula 1 team and has helped boost the high-end racing brand’s profile in the wealthy Emirati capital. It confirmed the plans following a local media report as the season-ending Abu Dhabi Grand Prix was getting under way in the Emirati capital……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Gulfnews.com: Abu Dhabi-based government investment companies Aabar Investments and Mubadala Development Company are thought to have made a smart move in selling their stakes in two Europe-listed companies at a profit at a time when the market conditions are growing volatile, market analysts told Gulf News yesterday.
“Selling stakes at a profit when the market conditions are still good is a wise move. There are still a lot of uncertainties in the global economy,” said Chahir Hosni, sales manager with EFG-Hermes……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Arabianbusiness.com: Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, is in talks to increase its London portfolio with a $1.6bn bid to buy the hotel group behind The Connaught, The Berkeley and Claridge’s, it has been reported.
Qatar Holding, which in May paid $2.5bn for London department store Harrods, is understood to be in early negotiations with the Maybourne Hotel Group……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Channelnewsasia.com: Singapore’s Temasek Holdings reportedly invested about US$106 million in Brazil’s Petrobras during the last quarter. That is according to a report by Reuters, citing a filing with the U.S. Securities and Exchange Commission (SEC).
It said that Temasek bought 3.2 million American Depository Receipts (ADRs), of Petrobras……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From WSJ: China’s sovereign-wealth fund bought 20% of GCL-Poly for $710 million. Today, China makes about a quarter of the world’s polysilicon and controls roughly half the global market for finished solar-power equipment.
Western anger with China has focused on Beijing’s cheap-currency policy; President Obama blasted the practice at the G-20 summit in Seoul last weekend. Mr. Zhu’s sprint to the top points to a deeper issue: China’s national economic strategy is detailed and multifaceted, and it is challenging the U.S. and other powers on a number of fronts……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Bloomberg: SouthGobi Resources Ltd., a coal producer backed by China’s sovereign wealth fund, may post a profit next year as increased output boosts sales by two-thirds, Chief Executive Officer Alexander Molyneux said.
The Toronto and Hong Kong-listed coal producer may expand sales to 4.5 million metric tons in 2011 from about 2.7 million tons this year, Molyneux said………………………………………Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Telegraph: The State Bank of China and Eximbank lent $10bn to Kazakh sovereign wealth fund Samruk Kazyna during the depths of the financial crisis in 2008, allowing it to continue funding key projects.
Grigori Marchenko, the head of Kazakhstan’s National Bank, said Kazakhstan was considering further major infrastructure projects, which could also be funded by the Chinese. “If there are projects, there is definitely money in China which could be invested in Kazakhstan,” he said……………………………………….Full Article: Source

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Posted on 16 November 2010 by VRS |  Email |Print

From Pionline.com: Norway Government Pension Fund-Global, Oslo, made its first real estate investment, paying £448 million ($720 million) for a 25% stake in the U.K. Crown Estate’s Regent Street properties in London.
The 2.9 trillion Norwegian kroner ($498 billion) fund was given the green light on March 1 by the Norway Finance Ministry, which must approve the fund’s investment allocations, to make property investments. Until now, the fund could invest only in stocks and bonds……………………………………….Full Article: Source

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