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Sovereign Wealth Funds Briefing 10.Jun 2011

Posted on 10 June 2011 by VRS |  Email |Print

Lucas van PraagU.S. securities regulators are investigating whether Goldman Sachs Group Inc. and other financial firms violated foreign bribery laws when dealing with the Libyan sovereign-wealth fund, the Wall Street Journal reported, citing sources.
Enforcement lawyers at the Securities and Exchange Commission are reviewing documents that detail the companies’ relationships with the Libyan Investment Authority, which is controlled by Moammar Gadhafi……………………………………….Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

Goldman Sachs’ dealings with Muammar Gaddafi’s regime have come under scrutiny from US regulators investigating whether they broke anti-bribery laws.
The investment banking giant made the offer of a $50m (£31m) payment, which would have gone to the son-in-law of the state oil company boss, according to reports last week. Now it has emerged that the US Securities and Exchange Commission (SEC) is looking over documents related to the plan………………………………………..Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

Under Ho’s leadership, Temasek’s assets climbed 43% to $186 bn in 2010. Ho Ching, chief investment officer of Temasek Holdings , the Singapore state-owned investment company, will likely step down in August, the Financial Times said, citing people familiar with the matter.
Ho’s departure is expected a month after Temasek releases its annual review for the year ended March, when it’s expected to post investment gains, the newspaper said……………………………………….Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

Temasek Holdings has declined to comment on news circulating that its executive director and CEO Ho Ching will likely step down in August.
The Financial Times (FT) newspaper reported on Wednesday Ms Ho Ching might leave the company at a time when the investment firm has turned around from losses from the financial crisis, “during which the value of its portfolio fell from S$185 billion to S$130 billion”………………………………………..Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

GIC has appointed Chia Tai Tee to succeed Sung Cheng Chih as chief risk officer. The move is part of a managed succession. Sung, who warned of the dangers of CDO investments prior to the financial crisis of 2007/2008, will remain as a consultant to the sovereign wealth fund.
The Government of Singapore Investment Corporation (GIC), one of the world’s largest sovereign wealth funds, has appointed Chia Tai Tee as its new chief risk officer………………………………………..Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

Gulf monarchy splashes millions on fuel, food and cash transfers for rebels. What’s behind Qatar’s generosity? It helps that it is so rich. Qatar’s copious gas reserves have made it one of the world’s wealthiest. Its $60-billion plus sovereign wealth fund owns stakes in banks Credit Suisse and Barclays, as well as London’s iconic department store Harrods.
“Qatar will soon — literally — have more money than it knows what to do with,” according to a 2008 U.S. diplomatic cable, obtained by WikiLeaks and reviewed by Reuters………………………………………..Full Article: Source

Posted on 10 June 2011 by VRS |  Email |Print

The Alaska Permanent Fund’s Board of Trustees made allocations to three alternative investment programs, authorized two investment manager searches and approved expenditures for the fiscal year 2011 and 2012 budgets at its regular meeting last month in Anchorage.
The bulk of the fund, which now has a market value of about $40 billion, is invested in domestic and international equities, mostly stocks, corporate and government bonds, real estate and several types of alternative investment instruments………………………………………..Full Article: Source

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