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Sovereign Wealth Funds Briefing 08.May 2012

Posted on 08 May 2012 by VRS |  Email |Print

Abu Dhabi’s Sheikh Zayed Grand MosqueTotal assets in sovereign wealth funds exceeded $5 trillion at the end of last month for the first time, fuelled by oil and other commodities. According to research group Sovereign Wealth Fund Institute, the 59 funds it lists had total assets of $5,004bn.
The largest, the Abu Dhabi Investment Authority (Abu Dhabi’s Sheikh Zayed Grand Mosque is pictured above) has $627bn and the smallest, Mongolia’s Fiscal Stability fund, is believed to have less than $10m after being founded last year………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

Nuvest Capital aims to raise $1 billion by the first year of operations as its founder and Government of Singapore Investment Corp (GIC) veteran Aje Saigal looks to build his record outside the world’s eighth-largest sovereign wealth fund.
Singapore-based Nuvest will launch a global multi-asset fund with an emphasis on emerging markets by July with seed money from GIC, Saigal said in an interview, confirming a Reuters report in February about his plans………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

Singapore’s Temasek Holdings Pte. Ltd. and private-equity firm RRJ Capital are teaming up again to invest in the U.S.’s natural gas boom. On Tuesday, Houston-based liquefied natural gas company Cheniere Energy Inc. said Temasek and RRJ will jointly invest US$468 million for the company to develop its Sabine Pass liquefaction project in Louisiana.
Cheniere is seeking billions of dollars in investment as it adds export capability to its import terminal. Cheniere fell deeply into debt after the U.S. natural gas boom made imports into the country redundant………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

To boost Indian investment in Australia, miners and power companies are asking the government to establish a sovereign wealth fund, to be used to buy mines and build infrastructure.
”Because of the rupee’s sliding [value], [and general] economic gloom, getting US-dollar funding for acquisitions at competitive rates is a challenge,” GMR Energy head of coal Ashis Basu said………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

Dubai’s sovereign wealth fund has given up control of luxury retailer Barneys New York, dealing a blow to Istithmar World , the emirate’s investment arm which paid $942m for the high-end retailer in 2007.
In a deal with the retailer’s creditors, Perry Capital, the company’s largest lender, and Yucaipa Companies, the investment firm run by billionaire Ron Burkle, will exchange debt for equity, reducing Barneys’ long term debt from $590m to $50m………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

The Nigerian Stock Exchange (NSE) can benefit from Nigeria’s Sovereign Wealth Fund (SWF) as access to it can help deepen and create stability at the market. This was part of the submission of the CEO of the NSE, Mr Oscar Onyema today at the House of Representatives ad-hoc committee probe of the capital market.
According to him, contrary to widespread belief, the stock market is big enough to absorb the listing of large companies………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has announced a 4-fold drop of yield in its assets placement. SOFAZ executive director Shahmar Movsumov stated in an interview with newspaper Respublika, the official organ of the Cabinet Ministers of Azerbaijan, that in 2005-9 yield in Fund’s assets placement was at 3.69% and in 2010-11 it dropped to 0.91%.
“As a result, after changing the investment strategy, in 2012 the Fund was allowed to invest up to 15% of its assets in equities, gold and real estate. Currently SOFAZ started investing in physical gold, and during this year it will start investing in real estate,” Movsumov said………………………………………..Full Article: Source

Posted on 08 May 2012 by VRS |  Email |Print

The Deal Pipeline’s editor at large Matt Miller chats about the evolution of sovereign wealth funds since 2007, as well as their crucial relationship with PE.………………………………………Full Article: Source

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