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Sovereign Wealth Funds Briefing 24.Feb 2011

Posted on 24 February 2011 by VRS |  Email |Print

Hamad bin Jassim bin Jaber Al ThaniFrom Independent: Qatar, which owns stakes in Barclays and Sainsbury’s, could invest in Lloyds and Royal Bank of Scotland. Qatari prime minister and head of the country’s Qatar Investment Authority sovereign wealth fund, Sheikh Hamad bin Jassim bin Jabr al-Thani, said he had discussed investment ideas with his British counterpart.
When asked about RBS and Lloyds, he said: “We are very open to any investment in the UK and we have discussed some. We are capable of being engaged and will continue to be engaged in discussions.” ……………………………………….Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Reuters: Libya’s $70 billion sovereign wealth fund was just starting to show some ambition before the country was plunged into crisis. Now investors who sit alongside the Libyan Investment Authority are understandably nervous.
There’s no precedent for what will happen to the fund’s stakes in various Western entities if the regime falls, and there has never been much transparency around the institution’s inner workings………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Allvoices.com: Libyan President Muammar GaddafiMuammar Gaddafi and his family are estimated worth in several billion dollars, according to UK Guardian report. Despite the instant grasp of information that internet may provides, the Gaddafi family are smart enough to hide their weath into secret bank accounts in Dubai and South-East Asia.
Colonel Gaddafi has been the leader of Libya since a coup in 1969 and the longest serving ruler in Libya history. Gaddafi is married to Sofija Farkaš from Mostar, Bosnia and Herzegovina, who is his second wife………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Arabianbusiness.com: Libya’s secretive sovereign wealth fund could hold the key to any post-conflict reconstruction and future economic development with its $70bn in assets including lucrative stakes in Western firms.
Given escalating unrest in Libya, a possible end to Muammar Gaddafi’s 41-year rule is likely to shake the foundations of the politically driven fund, but any new government could put the cash to good use and manage the fund more efficiently………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Reuters: Pirelli & C SpA Chairman Marco Tronchetti Provera has resigned from the advisory board of UniCredit shareholder Libyan Investment Authority because of Libyan turmoil, a Pirelli spokeswoman said on Wednesday.
“The decision has been taken in the face of the tragic events that are hitting the Libyan people,” the spokeswoman at the Italian tyre company said………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Cnbc.com: The mass protests in Bahrain will make the country stronger and not lead to the fall of the ruling royal family, the boss of Bahrain’s sovereign wealth fund has said.
The Bahrain royal family has attempted to draw the sting out of mass protests by opening a dialogue with protesters but thousands of people took to the streets of the Bahrain capital Tuesday night and more are expected Wednesday night………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Tradearabia.com: Unlike other oil exporters in the region, Bahrain is not known to have a significant sovereign wealth fund of offshore financial assets that could potentially be liquidated to support the budget or broader economy in a crisis.
Moreover, Bahrain’s hydrocarbon reserves are relatively limited………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Telegraph: Eurasian Natural Resources Corporation (ENRC) is to receive up to $1.9bn (£1.3bn) in Chinese loans in a deal that underlines Kazakhstan’s growing power over the London-listed miner. The money will come, at least in part, from a $1.7bn loan given to Kazakhstan’s sovereign wealth fund by China Development Bank.
The sovereign wealth fund signed the deal on Tuesday, and is likely to channel the money to ENRC over the coming year………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From WSJ: Jefferies Group Inc. and the Government of Singapore Investment Corp. have formed a joint venture with Mark Finerman’s LoanCore LLC with $600 million in equity to originate commercial real estate debt.
A number of investors have been raising funds to address a shortage of capital in the commercial real-estate sector, as lending standards remain tight and the market for securitized loans–once a significant source of debt for investors in malls and office towers–has only begun to recover after grinding to a halt amid the credit crisis………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Iddmagazine.com: The U.S. commercial real estate market got a boost on Wednesday when Jefferies & Co. announced that it has teamed with Singapore’s sovereign wealth fund and Loan Core Capital Partners to back a business that will specialize in commercial real estate finance.
The sovereign fund, the Government of Singapore Investment Corp., Loan Core and Jefferies are putting up $600 million for the joint venture, which will be called Jefferies Loan Core LLC………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Moneycontrol.com: After deciding to end its 26-year association with Honda late last year, the Munjal family promoted Hero Group is looking to sell part of its stake that it acquired from Honda to Government of Singapore Investment Corporation (GIC) and private equity firm Bain Capital, reports CNBC-TV18’s Kritika Saxena citing sources. GIC and Bain are likely to invest up to Rs 4,500 crore in Hero Investments.
Sources said the deal is valued at a premium to the current market price and is structured via a Singapore-based special purpose vehicle. The Munjal family, sources said, will hold at least 50% in the SPV………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Acorn-online.com: A managing director with the Government of Singapore Investment Corp. in New York City is lending his talent and free time to Ridgefield’s Parking Authority.
Ridgefielder Eugene Boehringer volunteered to fill an open position on the committee responsible for overseeing the town’s village and train station parking. After a brief interview last Wednesday, the Board of Selectmen agreed to appoint Mr. Boehringer………………………………………..Full Article: Source

Posted on 24 February 2011 by VRS |  Email |Print

From Reuters: Shareholders of PLUS Expressways , Malaysia’s biggest highway operator, approved on Wednesday a takeover bid by major shareholders UEM Group and the Employees Provident Fund (EPF).
Malaysia’s largest pension fund EPF, together with UEM, a wholly-owned subsidiary of state investment arm Khazanah Nasional , own more than 60 percent of the toll operator………………………………………..Full Article: Source

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