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Sovereign Wealth Funds Briefing 18.Mar 2011

Posted on 18 March 2011 by VRS |  Email |Print

The people who run sovereign wealth funds are bound to be more than a little interested in what happens to the Libyan Investment Authority. The LIA, Libya’s sovereign wealth fund worth up to $70 billion, has had its assets frozen across the developed world. The U.S., the European Union and other countries have taken various measures to ensure the Gadhafi family doesn’t get its hands on the money.
It was easy paint-by-numbers decision making. Libya is in the midst of a popular revolution against a tyrant. Said tyrant was unusually closely linked to what was in theory a national asset pool……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

Ras Al Khaimah Investment Authority (RAKIA) collaborated with the Arab Business Club to hold a high-profile business forum at the Emirates Towers Dubai, which was attended by more than 125 CEOs from across the region.
The forum discussed the strategic advantages that the Middle East region, and more specifically Ras Al Khaimah, offers investors and also focused on key factors that enabled RAKIA to achieve a 27 per cent increase in licences issued in 2010 compared to 2009……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

The head of Qatar’s sovereign wealth fund, Qatar Holdings, visited several Spanish companies, including Telefonica , during a stay in the Spanish capital, sources close to the meetings said.
Cash-rich Qatar pledged 3 billion euros ($4.2 billion) in investment to Spanish companies during Prime Minister Jose Luis Rodriguez Zapatero’s visit to the Gulf state in February. The sovereign wealth fund bought a 6.2 percent stake in utility Iberdrola for 2.2 billion euros earlier this week……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

Allen & Overy, Freshfields Bruckhaus Deringer, and leading Spanish firm Uría Menéndez are advising on state-backed Qatar Holdings’ acquisition of a 6.2 percent stake in Spanish power company Iberdrola for $2.82 billion, according to U.K. publication Legal Week.
Representing Bilbao-based Iberdrola, one of the largest private electric utilities and renewable energy operators in the world, is A&O corporate partner Richard Browne in London and Madrid office managing partner Iñigo Gómez-Jordana. The firm previously advised Iberdrola on its $22.5 billion acquisition of Scottish Power in 2006……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has announced a tender procedure for purchase of computer facilities and licensed software.
The tender commission informs that the tender invites bids for purchase of computer facilities, dictaphone recorders, microphones for video cameras and licensed software to ensure information security……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

KazMunaiGas will commence the construction of the Northern-Caspian Ecological Oil Spills Response Base (NCEOSRB) in Atyrau. Some 100 percent of the shares of KazMunaiGas belong to the Samruk-Kazyna National Welfare Fund.
“The goal is to guarantee a rapid response to oil spills during commercial development in the northern Kazakh sector of the Caspian Sea, as well as to hold ecological and weather monitoring, and fauna rehabilitation,” KazMunaiGas said………………………………………Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

Stephen Forshaw, the former head of public relations at Singapore Airlines, is taking over as head of corporate affairs at Singapore investment fund Temasek Holdings.
Forshaw, who is currently director of Corporate Communications for Asia Pacific at Microsoft, told marketing-interactive.com, “I have accepted an offer to join Temasek Holdings. This is a very exciting step for me as I am very conscious of the importance of Temasek in Singapore.”………………………………………Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

Australia’s Future Fund is now the 13th largest sovereign wealth fund in the world, moving up from 15th place according to new figures from alternative investment research firm Preqin. The Future Fund grew by US$11.4 billion from US$59.6 billion last year, raising it from 15th place, Preqin said.
The report compares the world’s sovereign wealth funds in US dollar terms and valued the Future Fund at US$71 billion this year, putting it just outside the top 10 funds on the global league table……………………………………….Full Article: Source

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Posted on 18 March 2011 by VRS |  Email |Print

According to an announcement from the Alaska House of Representatives Democratic Caucus, Anchorage Rep. Mike Doogan has submitted a bill (HB 194) that would transfer $10 billion from the state’s Constitutional Budget Reserve Fund to the Alaska Permanent Fund.
The bill was referred to the House Finance Committee, upon which Rep. Doogan serves……………………………………….Full Article: Source

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