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Sovereign Wealth Funds Briefing 23.Jan 2012

Posted on 23 January 2012 by VRS |  Email |Print

Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, has selected five domestic mutual fund houses to manage its India equity portfolio. Birla Sun Life Mutual Fund, DSP Blackrock, ICICI Prudential, Canara Robeco Mutual Fund and Franklin Templeton will manage over $1 billion of KIA’s money in India.
The fund houses have been allocated funds in the range of $200-300 million, according to people familiar with the matter. Almost 90% of the corpus will be invested in equities………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

P. GaneshTemasek Holdings Pte, Singapore’s sovereign-wealth fund, has agreed to buy a 4.9 percent stake in India’s Godrej Consumer Products Ltd. for 6.85 billion rupees ($136 million).
Godrej will issue 16.7 million new preferential shares to Baytree Investments (Mauritius) Pte, a unit of Temasek, P. Ganesh, executive vice president of finance at Godrej Consumer, said in a phone interview today. Godrej will sell the shares at 410 rupees a share, the company said in an exchange filing………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

Government of Singapore Investment Corp. is seeking to sell about $700 million in private equity holdings, according to three people familiar with the matter. The $274.5 billion sovereign wealth fund named UBS to manage the sale, which involves stakes in mostly older buyout and venture capital funds, said the people, who asked not to be identified because the information isn’t public.
Among the stakes GIC is offering are funds from Atlas Venture, Draper Fisher Jurvetson, W.L. Ross & Co. and J.C. Flowers & Co., the people said………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

U.K. Chancellor George Osborne is making headway in a campaign to bring some Asian excitement to his country’s more boring assets.
Mr. Osborne pledged in a speech at the Asian Financial Forum in Hong Kong this week to make Britain the “home of Asian investment in Europe” and said he was actively seeking Asian investment in British infrastructure. Mr. Osborne also met with Lou Jiwei, the chairman of China Investment Corp. on his tour………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

Remember sovereign wealth funds (SWFs), the global investment arms of states which have more oil revenues or foreign exchange earnings than they know what to do with? Back before the credit crunch of 2008, SWFs were big news because they were snapping up western companies using their massive earnings from the commodities boom.
But interest in SWFs faded with the credit crunch when a collapse in the value of their equity portfolios forced the funds to become more cautious. SWFs that invested heavily in bank shares took an especially big hit………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

Abu Dhabi Investment Authority and Rockpoint plan to sell Devonshire Square, an office block in the City of London that houses Aon Corp. (AON) among others, for as much as 400 million pounds ($623 million), the Sunday Times reported without saying where it got the information.
ADIA, Abu Dhabi’s sovereign-wealth fund, and Rockpoint have appointed property broker CBRE Group Inc. (CBG) to find bidders, according to the report………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

Scottish First Minister Alex Salmond tried to persuade the royal family of Qatar to buy SPL football club Hearts. The First Minister’s bid to find new owners for the cash-strapped Edinburgh club failed after Qatar’s rulers said they had “no interest in investing in Scottish football”.
Qatar Investment Authority last May bought 70 percent of the French club Paris St Germain in a deal reportedly worth up to $57m. The Qatar sovereign wealth fund also owns a string of trophy assets including the luxury department store Harrods in London………………………………………..Full Article: Source

Posted on 23 January 2012 by VRS |  Email |Print

Over the past few years, Saudi Arabia has accrued significant budget surpluses resulting from increased oil production and higher oil prices. Some of those surpluses have been used as foreign reserves of the Saudi Arabian Monetary Agency (SAMA).
With new leadership at the helm of SAMA, it may be time to revisit the rather costly policy of maintaining high levels of reserves. We should explore options to manage those surpluses, now that they have grown way beyond the strict needs of monetary policy………………………………………..Full Article: Source

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