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Sovereign Wealth Funds Briefing 04.Jan 2012

Posted on 04 January 2012 by VRS |  Email |Print

Austria’s competition watchdog has cleared Abu Dhabi sovereign wealth fund IPIC’s plan to raise its stake in energy group OMV to at least 25 percent, the agency said on Tuesday.
IPIC informed the Austrian Competition Authority last month of its plan. Parties potentially affected by the move had until Jan. 2 to comment. “We did not issue a review application yesterday so it has been cleared,” a spokesman for the agency said………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund may seek a supervisory board seat and strategic partnership with Lagardere, potentially deepening its ties with the French media-to-aerospace conglomerate in which it is the biggest shareholder.
Qatar Holdings said in a letter published on Tuesday by French stock market regulator AMF it may raise its stake, but would not seek to take over the company. Lagardere is effectively insulated from takeover by a governance structure, known as a commandite. This gives broad powers to chief executive Arnaud Lagardere………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

Mubadala Development has sold a commercial property joint venture less than nine months after paying Dh83.6 million (US$22.76m) to take full control of it.
The buyer is Serco, a property management and outsourcing company in the UK. It is taking over the joint venture, called John Buck International (JBI), for an undisclosed price, according to a statement………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

The West Asian gold pot is tilting towards India. The oil rich kingdoms of Saudi Arabia, Qatar and Kuwait — wary of the economic crisis in Europe and the slowing growth rate in America — have conveyed their desire to invest in Indian infrastructure projects.
The Kuwait Investment Authority is planning to invest about $10 billion in the Indian economy and has already invested about $1.5 billion in India in the past two years.Saudi Arabia does not have a sovereign wealth fund — a state-owned investment fund, comprising financial assets and instruments………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

China’s top leadership has approved a plan to organize the central government’s holdings in state-owned financial companies under a single agency managed by the Ministry of Finance, the China Times reported over the weekend, citing an unnamed person familiar with the matter at a large commercial bank.
The report termed the new agency a “financial SASAC,” referring to the State- owned Assets Supervision and Administration Commission, an umbrella agency that manages the state’s holdings in non-financial state-owned enterprises………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

Singapore investment firm Temasek Holdings said yesterday it has set up a subsidiary called Pavilion Capital that will invest primarily in privately-owned firms in North Asia, especially China.
The new investment company will also focus on investment opportunities at small and medium enterprises in China, a Temasek spokeswoman said………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

For years now, sovereign wealth funds were looked at as private equity’s next great piggy banks as some cash-strapped U.S. LPs slowed down their pace of investing. But it seems that many have investment aspirations of their own.
Temasek, the Singapore state investment agency, is setting up its OWN fund centered on small enterprises in North Asia and China, the Financial Times reports. “We want to be more attractive than private equity firms like KKR,” a source tells FT………………………………………..Full Article: Source

Posted on 04 January 2012 by VRS |  Email |Print

The sign-up period for eligible Alaskans to sign up for their 2012 Permanent Fund dividend checks has begun. Applications can be submitted to the state through March 31. The sign-up period began on New Year’s Day Sunday.
Applications can be found online, or people can pick up the forms at distribution centers. Most Alaskans each received checks of $1,174 in the fall when the 2011 dividend was paid………………………………………..Full Article: Source

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