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Sovereign Wealth Funds Briefing 02.Jul 2012

Posted on 02 July 2012 by VRS |  Email |Print

Sovereign-wealth funds have long been viewed as the investment world’s ATMs: ready sources of cash that don’t talk back. But passive has turned aggressive in the case of Qatar Holding’s demand for better terms in Glencore’s takeover bid for Xstrata, in which the fund holds a 10.4% stake.
After the deal was agreed on, some funds that didn’t like it sold out, arguably believing Qatar Holding’s stake building made it more likely to happen………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

AabarAbu Dhabi’s Aabar took a step towards exiting its investment in electric car maker Tesla after partner Daimler confirmed it transferred direct control of a 3.1 percent stake in Tesla back to the sovereign wealth fund. One person familiar with the situation said that Aabar would likely cash in on its stake, bought together with Daimler before Tesla went public.
“Daimler was informed very early and at their request we transferred their part of the jointly held stake in Tesla back to them,” a spokesman for the company said on Wednesday, confirming news reports earlier this week………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

The governors understand the need to take as much as they can get from the centre but we all grew up understanding the lesson to save for the rainy day. That is the whole thing concerning the concept of the Sovereign Wealth Fund. We cannot say that oil price would go up.
It is unrealistic. If it plunges maybe below the budget level we should have something that we can fall back on and your Sovereign Wealth Fund gives you enormous respect and increases your credibility and power in negotiation internationally………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

Commodities trading giant Glencore and Xstrata are digging in for days or even weeks of brinkmanship to try and save Glencore’s $26 billion takeover deal after Qatar’s state investment fund interrupted proceedings this week with a last-minute call for better terms.
Bankers involved in the transaction have already flown out to the oil-rich Gulf state as the companies roll up their sleeves for what one person familiar with the matter described as a “poker game”………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

The Competition Commission of India has approved the combination of Hero Investments Private Limited and Hero Moto Corp Ltd (HMCL).The entire share capital of Hero Investments is held by the promoters who are promoters of Hero Moto Corp, private equity fund BC India Private Ltd and Lathe Investments.
The promoters hold 71.63 per cent of the share capital while Bain, through BC India Pvt Investors and GIC, via Lathe Investment, hold 28.36 per cent in Hero Investment. Hero Investments holds approximately 43.33 per cent of the share capital of HMCL………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

An Indian real estate developer called Brigade Enterprises teamed up with the Government of Singapore Investment Corporation (GIC) to jointly purchase a plot of land in Bangalore’s Whitefield Main Road.
They purchased the property from FMCG major Hindustan Unilever Ltd for Rs 125 crore. The GIC affiliate, Reco Begonia, entered into a partnership with Brigade Enterprises to develop a high-end residential apartment project on Whitefield Main Road in Bangalore………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

India’s foreign exchange reserves fell by $0.76 billion to $288.62 billion for the week ended June 22, official data showed. The RBI is believed to have been selling dollars during the week to curb the slide in the rupee’s value. Incidentally, the rupee gained strength on Friday, a gain of 2 per cent over Thursday’s close of Rs 56.81 to a dollar, at Rs 55.64.
Over the week, the partially convertible rupee slumped to an all-time low of 57.33 against the US dollar………………………………………..Full Article: Source

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Posted on 02 July 2012 by VRS |  Email |Print

Sovereign wealth funds and other long-term public investors can better the odds of generating high returns by analyzing successful peers and their traits.
Many times, sovereign investors can be pulled into bad or lackluster investments by various forces. This is common for U.S. public pension funds as many board members are political appointees………………………………………..Full Article: Source

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