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Sovereign Wealth Funds Briefing 28.Jun 2011

Posted on 28 June 2011 by VRS |  Email |Print

China’s sovereign wealth fund, China Investment Corp., will likely receive a cash injection of $50 billion this year, as Beijing moves to diversify its foreign exchange reserves, Capital Week reported Monday, citing unnamed officials at the fund.
CIC has submitted an application for the new funds to the State Council, China’s cabinet, and the injection will be approved as soon as the fund completes a reshuffle of its investment department, an unnamed official at CIC was cited as saying………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

Singaporean investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional yesterday announced they would jointly develop prime land parcels in both countries in projects worth about S$12.2 billion.
The move comes as the two countries sealed the Points of Agreement on Malayan railway land in Singapore. The two investment giants have established two subsidiaries - M+S and Pulau Indah Ventures - for the purpose. M+S, in which Temasek has a 40-per-cent stake and Khazanah the other 60 per cent, will develop sites in Marina South and the Ophir-Rochor area in Singapore………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

Singapore investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional will jointly develop prime land parcels in both countries into projects worth about S$12.2 billion.
The two investment firms have established two subsidiaries - M+S Pte Ltd and Pulau Indah Ventures Sdn Bhd - for the purpose. Temasek has a 40 percent stake in M+S while Khazanah owns the remaining 60 percent stake………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) on Tuesday announced the appointment of Acting Chairmen for GIC Real Estate and GIC Special Investments.The changes come in the wake of Dr Tony Tan Keng Yam’s resignation as GIC Deputy Chairman and Executive Director, and are effective July 1 2011.
Mr Lim Hng Kiang will be Acting Chairman of GIC Real Estate Pte Ltd, and Mr Ang Kong Hua will be Acting Chairman of GIC Special Investments Pte Ltd. Both men are currently directors of the companies………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) on Tuesday announced that Trade and Industry Minister, Lim Hng Kiang, will be acting Chairman of GIC Real Estate.
Mr Lim is currently a director of the company. This follows the resignation of former Deputy Prime Minister Tony Tan as GIC’s Deputy Chairman and Executive Director effective July 1………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

Chinese hypermarket operator Sun Art Retail Group Ltd., which will launch book building for institutional investors Tuesday, has locked in cornerstone investors including a sovereign wealth fund for its around US$1 billion Hong Kong initial public offering, two people familiar with the situation said Monday.
The cornerstone investments account for around 40% of the offer, the people said, adding the company plans to sell 1.14 billion shares. They declined to provide the indicative price range or other details of the deal………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

Kyrgyz and Kazakhstani officials will create a US $100m (4.5 billion KGS or 14.6 billion KZT) investment fund, Kazakhstan Today reported June 27. An accord was signed during a visit by a delegation from Kazakhstan’s Samruk-Kazyna sovereign wealth fund.
The fund will finance Kyrgyz business ventures in energy, telecoms, transport infrastructure, tourism and other fields………………………………………..Full Article: Source

Posted on 28 June 2011 by VRS |  Email |Print

Institutional fund managers have undertaken a dramatic shift to direct hedge fund investing following the global financial crisis, according to a new survey from Citi Prime Finance.
The survey, “Global Pensions and Sovereign Wealth Funds Investment in Hedge Funds: The Growth and Impact of Direct Investing”, is based on in-depth qualitative interviews with nearly 60 major investors representing $1.65 trillion in assets under management as well as hedge fund managers representing $186 billion in assets under management, reveals that pensions and sovereign wealth funds have not only been increasing their hedge fund investment programs but are taking a more active and “direct” approach to allocating these investments, as opposed to using traditional fund of funds. This trend has significant implications for hedge fund managers seeking to attract this capital. (Press Release)

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