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Sovereign Wealth Funds Briefing 18.Jan 2012

Posted on 18 January 2012 by VRS |  Email |Print

Sri Lanka has signed co-operation deals with Qatar Holdings LLC, a sovereign wealth fund and its wholly owned real property unit following a visit to the island by the Emirate’s ruler, the foreign ministry said.
Qatar Diar Real Estate Investment Company has signed a deal with Sri Lanka’s Board of Investment. Sri Lanka has also signed other agreements on air services, tourism, legal, cultural and technical co-operation………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

After a rocky start, UniCredit SpA’s €7.5 billion ($9.5 billion) share sale has gained some positive momentum as more investors wade in, highlighted by a big investment in the Italian bank by an Abu Dhabi-based fund.
The share sale, known as a rights issue, is being watched as a barometer of investors’ willingness to recapitalize Europe’s troubled banking sector………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

Aabar Investments, an investment vehicle for Abu Dhabi’s sovereign wealth fund, said on Tuesday that it would increase its stake in the Italian bank UniCredit to 6.5 percent from 5 percent after the Milan-based firm completes a so-called rights offering at the end of the month. The deal would make Aabar the largest individual investor in UniCredit.
The announcement comes as UniCredit is expected to gain investor backing to raise 7.5 billion euros, or $9.6 billion, in a rights issue, which allows shareholders to buy new stock in a company at a discount, according to people with knowledge of the matter………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

Abu Dhabi Investment Authority (ADIA) has expressed a keen interest in investing in Urban infrastructure sector in India. A delegation led by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA met the Urban Development Minister Mr. Kamal Nath to discuss investment opportunities in the urban sector.
Mr. Kamal Nath informed the delegation about the over whelming contribution of the urban sector in India’s growth story – accounting for around 60% of GDP which is likely to further increase to around 70% in the next decade. Over 70% of the new jobs shall be created in the urban centres. (Press Release)

Posted on 18 January 2012 by VRS |  Email |Print

A team of 20 businessmen from Qatar were in the Philippines earlier this week to explore making investments to the tune of $1bn in different fields in the South East Asian country, according to a report in the Philippines Star newspaper.
The paper quoted the country’s Trade and Industry Undersecretary Cristino L Panlilio as saying that a Qatar delegation led by Director for Asia and Africa Affairs of Qatar Investment Authority Zayid Rashid Al and head of legal counsel Tarik Muslib held talks with the local officials in Manila………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

Birla Sun Life Asset Management Co., the Indian venture of Canada’s third-largest insurer, has hired Mihir Vora to manage its offshore equity funds. Vora, who has worked at the Abu Dhabi Investment Authority since March 2009, will manage 35 billion rupees ($686 million) at the Indian asset manager.
Saman Khan, a spokeswoman for Birla Sun Life, a venture between Indian billionaire Kumar Mangalam Birla’s Aditya Birla Group and Sun Life Financial Inc. (SLF), confirmed the hiring……………………………………….Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

Temasek Holdings, an investment arm of the Government of Singapore, is looking to offload nearly 3.5% of its stake in ICICI Bank, worth about Rs 3,000 crore, or about $600 million at current market prices.
The Singapore government arm has been looking for buyers for about three months, but two foreign broking houses which were mandated by the firm are yet to find a suitable institution willing to acquire this chunk at a price that is acceptable to both the buyer and the seller, market sources said………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

Governors are asking the Federal Government to remit the $3.5 billion from the Excess Crude Account (ECA) agreed upon in their previous meeting to the Federation Account for sharing among the three tiers of government.
In the minute of Monday’s Federation Account Allocation Committee (FAAC) meeting made available to reporters in Abuja, the Chairman, Commissioners Forum and member from Anambra State, Eze Echesi, “complained that there was delay in releasing the additional $2 billion and the second tranche of $500 million from the ECA to the states after the last meeting.”……………………………………….Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

An ad hoc group of creditors holding Eurobonds issued by Kazakhstan’s BTA Bank said on Tuesday they would appoint a formal committee after the bank missed a 10-day grace period to pay $160 million in bond coupons and fell into official default.
The default on the bank’s $2 billion 2018 Eurobond comes just 18 months after a first round of restructuring cut the bank’s debt by two-thirds. Investors are enraged as they contend that BTA, owned by Kazakhstan’s $78 billion sovereign wealth fund, has enough money to pay debt………………………………………..Full Article: Source

Posted on 18 January 2012 by VRS |  Email |Print

BTA Bank may skip a $166 million coupon payment due tomorrow because it has an “acute need to restore capital” and faces the risk of a run on deposits, acting Chief Executive Officer Askhat Beisenbayev said.
A group of unidentified creditors has demanded that BTA make the payment before discussing the proposed restructuring. The coupon payment would reduce the exposure of BTA and Kazakh sovereign-wealth fund Samruk-Kazyna to the risk of claims of securities-law violations……………………………………….Full Article: Source

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