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Sovereign Wealth Funds Briefing 09.May 2012

Posted on 09 May 2012 by VRS |  Email |Print

China State Construction Engineering Corp. said Wednesday it has signed a memorandum of cooperation on the first phase of a real estate project worth $2 billion with Abu Dhabi sovereign-wealth fund Aabar Investments PJS and Industrial and Commercial Bank of China Ltd.
The Shanghai-listed construction company will undertake the construction of hotels, office buildings and high-end residential buildings in Abu Dhabi, while ICBC will provide financial support to Aabar, which would in turn get its revenue from oil trading for repayment, it said in a statement………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority, or ADIA, one of the world’s biggest sovereign wealth funds, Tuesday said it named Christophe Florin, a former executive at French insurance giant Axa, as head of emerging markets fund investments of ADIA’s private equity business.
Florin will be responsible for managing existing investments in emerging market funds and for carrying out future investments. He joins from the French insurer Axa’s private equity arm where he was member of the executive board and chief operating officer………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

Christophe Florin was named head of emerging markets fund investments within Abu Dhabi Investment Authority’s private equities department, spokesman Erik Portanger said.
The position is new. Mr. Florin’s appointment is part of ADIA’s recent expansion of its private equities team, according to sources familiar with the fund………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

South Korea has signed a memorandum of understanding with an Abu Dhabi-based investment company named “Invest AD” on joint investments in other countries. Invest AD is a sovereign wealth fund worth 520 million U.S. dollars that is owned by the Abu Dhabi government and invests in 30 Middle Eastern and African nations.
In line with the memorandum, South Korea’s Ministry of Land, Transport and Maritime Affairs and the company will meet twice a year to discuss joint investment projects in Africa and the Middle East………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

Global diversified mining group Xstrata PlC said Tuesday that on May 4 Qatar Investment Authority, as owner of Qatar Holding LLC, acquired 6.38 million Ordinary shares in the company taking its shareholding to 241.47 million shares, or 8.04%.
Qatar bought 6.18 million shares at GBP11.3295 and 200,000 shares at GBP11.39. Xstrata shares at 0705 GMT down 16 pence, or 1.41%, at 1115.5 pence valuing the company at GBP3.4 billion………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

In November last year, the NTC’s economy and finance committee, which provides oversight over the work of the interim government, submitted an internal report on the activities of the oil and finance ministries, the central bank and the sovereign wealth fund, the Libyan Investment Authority (LIA).
In a different section, the report’s authors addressed the LIA. The document queried $2.456 billion which the LIA said it had handed over to the treasury, but had, it seemed, not shown up on the government’s books. “When have they (the LIA monies) been transferred to the treasury, how have they paid and to whom have they been paid?” the report asked………………………………………..Full Article: Source

Posted on 09 May 2012 by VRS |  Email |Print

It speaks much for the kind of policy confusion in Delhi that we now are talking simultaneously about creating a sovereign fund to invest in assets abroad and a sovereign bond issue to borrow money abroad.
So we want to borrow to invest – which is not a great idea at any time. A PTI report says that a meeting of secretaries is to be held on Wednesday (9 May) to mull over the idea of creating a sovereign fund to buy overseas assets for state-owned companies………………………………………..Full Article: Source

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