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Sovereign Wealth Funds Briefing 27.Mar 2012

Posted on 27 March 2012 by VRS |  Email |Print

Khaldoon Khalifa Al MubarakAbu Dhabi’s sovereign-wealth fund said it would invest $2 billion to buy into the sprawling business empire of Brazil’s richest man, Eike Batista, a move that could lead to further investments by the Gulf state in Brazil and Latin America.
The transaction “marks our first significant direct investment into one of the fastest-growing markets and is an important step in [the] development of strategic opportunities in Brazil and Latin America,” said Khaldoon Khalifa Al Mubarak, chief executive of Mubadala Development Corporation……………………………………….Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Mubadala Development Co., the Abu Dhabi investment firm with stakes in General Electric Co. and the Carlyle Group, agreed Monday to pump $2 billion into Brazil’s EBX Group, looking to tap into the growing South American market.
The funds will buy Mubadala a 5.63 percent stake in the Brazilian conglomerate, including an indirect interest in its various subsidiaries, the companies said in a joint statement announcing the deal. EBX has interests in a range of industries, including mining, energy and power generation………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

The Government has discussed selling some of the taxpayer’s holding in Royal Bank of Scotland to an Abu Dhabi sovereign wealth fund as the authorities continue to look for ways to cut the state’s stake in the lender.
UK Financial Investments, which manages the state’s 82pc stake in RBS, held talks recently with Abu Dhabi wealth funds, though a source said the discussions were not at an advanced stage and no sale was expected in the near future………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Discussions with sovereign wealth funds have taken place as part of attempts to sell off the 83% taxpayer stake in RBS. Selling off shares in Royal Bank of Scotland at a loss will face fierce resistance, the Liberal Democrats and Labour warned on Monday, amid fresh speculation that talks are underway with a sovereign wealth fund in Abu Dhabi to buy a stake in the bailed-out bank.
Discussions with sovereign wealth funds, which invest the money of rich states, have taken place as part of moves to sell off the 83% taxpayer stake in RBS and the 40% stake in Lloyds Banking Group………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

The Norges Bank Investment Management (NBIM), which manages the Norwegian Government Pension Fund Global, today released the results of a survey into potential or current investment companies’ levels of reporting of social and environmental risks in 2011.
World-leading companies such as sports brand Adidas and food company Nestlé were among the 1,078 companies that scored highly. ……………………………………….Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Temasek Holdings, the smaller but more visible of Singapore’s two sovereign funds, is moving into a new phase with its investment strategy, and could look more like Blackstone Group , another $160 billion institution, which has grown from a focused private equity firm to a global asset manager.
The shift follows setbacks since the 2008 financial crisis; the loss of $5 billion invested in Western banks; the abrupt departure of the fund’s first non-local CEO before he’d even taken up the post; and the recent exit of dealmakers hired by CEO Ho Ching, the prime minister’s wife, who has led Temasek for a decade………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Japanese mobile phone giant Softbank said Monday it would pay an affiliate of a Singapore sovereign wealth fund more than US$1.0 billion for its dome stadium in the country’s south.
Softbank, the country’s third-biggest mobile phone operator, said the move was aimed at cutting costs tied to the Fukuoka Yahoo! Japan Dome, home ground for its professional baseball team the Fukuoka SoftBank Hawks. The Japanese firm said it pays 5.0 billion yen a year to an arm of the Singapore Investment Corporation (GIC) for use of the stadium………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Malaysia’s Khazanah Nasional Bhd will offer to buy minority shares in Turkey’s largest hospital chain Acibadem Saglik Hizmetleri & Ticaret AS at a minimum price of US$13.67 per B group share, Turkish market regulator said on its website after the market closed on March 23.
Khazanah’s two units bought a 75 per cent stake in Acibadem’s owner Acibadem Saglik Yatirimlari Holding AS in January, in an acquisition that valued Acibadem at US$1.68 billion for its entire share capital……………………………………….Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

The Australian Greens have consistently called for Australia to set up a new sovereign wealth fund, to help pay for infrastructure projects. But the opposition treasury spokesman Joe Hockey rejected the idea.
“A new sovereign wealth fund for Australia is a ridiculously stupid idea for so long as we have taxes that are higher than many of our competitors, when we have net debt of A$140 billion, and for so long as we have a free and open economy,” he said………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Australia’s shadow treasurer Joe Hockey has a political reputation to uphold as a straight shooter but he may have unsettled some of the world’s biggest sovereign wealth investors by candidly calling for greater transparency in their holdings of the Pacific nation’s bonds.
In an interview with Dow Jones Newswires yesterday, Mr Hockey explained his vision of why Australia needs a new register to reveal the identity of offshore buyers of its debt securities………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

Future Fund has purchased 35 million shares in toll road operator Transurban for $192.7 million, to hold 6.78% as the fund continues its build its exposure in Australian infrastructure.
Purchased through infrastructure fund manager RARE Infrastructure, the Future Fund confirmed to Financial Standard that it had been building its holding in Transurban since December through the activities of its external managers………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

International law firm Eversheds has been appointed to the international panel of the Qatari Diar Real Estate Investment Company (Qatari Diar), an international leader in sustainable development and investment.
The news follows the confirmation of thirteen international law firms to Qatari Diar’s six legal panels. Commenting on the panel appointments, Qatari Diar Group CEO Eng. Mohammed bin Ali Al Hedfa said: “I am delighted that we have appointed these thirteen international firms to support Qatari Diar’s global presence across our six panels. Qatari Diar was impressed by the high quality of the proposals received from the firms which participated. (Press Release)

Posted on 27 March 2012 by VRS |  Email |Print

The Supreme Court has began hearing on the case between the 36 state governors and the Federal Government over the Sovereign Wealth Fund.
The 36 state governors had sued the Federal Government to the apex court over their proposed plan to transfer the sum of $1 billion from the Excess Crude Account to a new account, which would be known as the Sovereign Wealth Fund………………………………………..Full Article: Source

Posted on 27 March 2012 by VRS |  Email |Print

A Sovereign Wealth Fund (SWF) is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds invest globally. Most SWFs are funded by foreign exchange assets.
Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation’s banking system; this type of fund is usually of major economic and fiscal importance. ……………………………………….Full Article: Source

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