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Sovereign Wealth Funds Briefing 17.May 2011

Posted on 17 May 2011 by VRS |  Email |Print

Sovereign wealth fund Government of Singapore Investment Corp. is buying US$30 million worth of shares in the up to US$300 million initial public offering of Nobao Renewable Energy Holdings Ltd., a person familiar with the deal said Monday.
The Chinese renewable-energy company filed with the U.S. Securities & Exchange Commission for a sale of its American depositary shares earlier this month, in a second attempt to tap the U.S. public market after withdrawing an earlier deal last June due to unfavorable market conditions……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

Tony Tan Keng-YamLast week GIC celebrated its 30th anniversary and enlisted a roster of speakers, including from other sovereign wealth funds, to provide it with ideas. The Government Investment Corporation of Singapore marked its 30th anniversary with a one-day conference and dinner last week.
In addition to remarks from the city-state’s great and good – including Tony Tan Keng-Yam, deputy chairman of GIC; Tharman Shanmugaratnam, finance minister; Lee Hsien-Loong, prime minister; and Lee Kuan-Yew – the GIC organised three panel sessions to look at investment issues……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

China Investment Corp will get annual cash injections from the government instead of just one-off infusion as the country looks for ways to invest its massive foreign exchange reserves, Caixin Century said on its website yesterday.
The central government will pump in “tens of billions” of dollars into the sovereign wealth fund, which is responsible for managing part of China’s nearly US$3 trillion of foreign exchange reserves, the magazine said……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

David Murray, chairman of the AU$64.6bn Future Fund Board of Governors, has stepped down as the chair of the International Forum of Sovereign Wealth Funds (IFSWF) after a two-year term as the group’s inaugural chairman.
Murray will be succeeded by Jin Liqun, Chairman of the Board of Supervisors, China Investment Corporation (CIC). Murray will continue as an honorary chair in a consultative role, supporting Jin and Bader Al Sa’ad, managing director, Kuwait Investment Authority, the deputy chair of the forum……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

Henderson Global Investors and a Canadian sovereign wealth fund have jointly acquired the widely sought after Leadenhall Triangle office complex in the City of London for a figure substantially in excess of £175 mln (EUR 199.8 mln). The asset was last valued at £140 mln.
Henderson advised the Canadian fund which will own a third of the 42,700-m2 asset. The other two thirds is being divided equally between Henderson’s Central London Offices Fund I and Fund II……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

Mumtalakat Holding Company has named Khalid Al-Rumaihi as the new chairman of Bahrain Airport Company (BAC). He replaces Kamal Ahmed who has been appointed the new Minister for Cabinet Affairs.
Al Rumaihi was earlier the managing director at the leading investment firm Investcorp……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

The managers of a fund investing in Qatari companies insist it is safe from a falling oil price, shaky world economy and Middle Eastern political unrest.
David von Simson, chairman of the Qatar Investment Fund, said recent pressure on the Qatari market in response to Arab revolutions made little impact on the robust gains seen through the second half of last year……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

Some of the funds are officially registered to the Libyan central bank, others to the Libyan Foreign Bank, and still others to the Libyan Investment Authority, the country’s official sovereign wealth fund.
A few accounts are registered directly in Moammar Gadhafi’s name, while others are in the name of one of his sons. In most cases, the balances are denominated in US dollars. The scrupulously correct Germans have used the exchange rate from early April to convert the funds into euros……………………………………….Full Article: Source

Posted on 17 May 2011 by VRS |  Email |Print

Provincial Tory leadership contender Gary Mar released a fiscal blueprint Monday that pledges to build the Heritage Fund to $40 billion over a decade, allocate a specific amount of royalty revenue to savings and reduce the number of government ministries.
“Government has become addicted to using oil and gas money to pay for the day-to-day spending of government, while continuing to take billions in interest out of the Heritage Fund every year to help balance the books,” Mar said, as he announced his fiscal platform at Calgary’s Lougheed House……………………………………….Full Article: Source

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