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Sovereign Wealth Funds Briefing 20.Jul 2012

Posted on 20 July 2012 by VRS |  Email |Print

Four sovereign wealth funds, including Singapore’s Temasek Holdings and China Investment Corp, have agreed to invest in the initial public offering of Reliance Communications Ltd’s undersea cable unit Global Telecommunication Infrastructure Trust.
Four souvereign wealth funds from Singapore, the Middle East and China have confirmed particiation of USD 250 to 300 million in the GTI Trust’s IPO, sources privy to the development said. Besides Temasek and CIC, Investment Corp of Dubai too has confirmed participation in Global Telecommunications Infrastructure Trust’s public offering in Singapore………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

Reliance Communications’ undersea cable unit has extended the bookbuilding period for its Singapore business trust IPO, worth up to $1 billion, until Friday, IFR reported. IFR said a sovereign fund from the Middle East and a Singapore-based institutional investor have shown a significant interest in the deal.
A source familiar with the process told Reuters that the company had received confirmation from four sovereign wealth funds to invest a total of more than $250 million in the IPO. Separately, Bloomberg cited three unnamed people with knowledge of the matter as saying Temasek and China Investment Corp had agreed to invest in the IPO………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

Temasek Holdings Pte and China Investment Corp. agreed to invest in Global Telecommunications Infrastructure Trust’s initial public offering in Singapore, said three people with knowledge of the matter.
GTI Trust (GTI), the undersea cable unit of Reliance Communications Ltd. (RCOM), is selling $250 million to $300 million of stock to four sovereign wealth funds as part of the IPO, said two of the people, who asked not to be identified as the details are private. It wasn’t immediately clear how much Temasek or CIC invested………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

China Investment Corp is pumping billions of dollars into private equity firms in a move meant to boost returns at the sovereign wealth fund, with an eye on taking a more active role on dealmaking.
The shift marks a strategic milestone in CIC’s evolution from a slow paced, low return sovereign investor towards an institution following the so-called Harvard endowment model………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

The People’s Bank of China buys more than $US2 billion of foreign exchange each working day from Chinese businesses and foreign investors to hold back the appreciation of the nation’s currency - the yuan.
This hoarding has resulted in an unprecedented expansion of country’s foreign exchange reserves. It has increased 160-fold from a measly $US20 billion in 1993 to a staggering $US3.2 trillion in 2012………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

The India-Oman Joint Investment Fund, which was created earlier this year with an initial corpus of $100 million, has identified three projects in India for investment. “We have identified three projects which are based in India,” Sheikh Humaid Bin Ali Bin Sultan Al-mani, ambassador of the Sultanate of Oman in New Delhi, said.
“The fund, which was jointly formed by the State General Reserve Fund (SGRF) of Oman and India’s largest bank, State Bank of India (SBI), has a scope for expanding the size of the corpus to as high as $1.5 billion. Last month, a meeting was held in Mumbai to discuss the projects that could be (initiated) under the corpus fund………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

Two of Korea’s big asset owners, Korea Investment Corporation and Korean Teachers Pension Fund, say they intend to boost their investments to emerging-market equities, with a particular focus on China.
Speaking recently at AsianInvestor’s Korea Institutional Investment Forum in Seoul, Kim Sang-joon, head of equity management at KIC, says the $43 billion sovereign wealth fund will double its EM equity exposure over the next few years. Ultimately as these markets grow their share of global GDP, he adds, they should have an allocation commensurate with that to developed markets………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

Superannuation Fund First State Super has wiped from its investment portfolios all companies involved in the manufacture of tobacco products, in a move welcomed by cancer specialists.
Chief executive Michael Dwyer said the decision to exclude the cigarette and tobacco companies from its entire investment portfolio followed strong feedback from the health industry, which represents about 40 per cent of the fund’s 770,000 members………………………………………..Full Article: Source

Posted on 20 July 2012 by VRS |  Email |Print

The Russia Direct Investment Fund, a Kremlin-backed private equity fund, is teaming up with Cartesian Capital Group LLC to boost its stake in the Micex-RTS Exchange ahead of the bourse’s share sale next year.
RDIF bought a 1.45 percent holding from ZAO UniCredit Bank, a unit of Italy’s UniCredit SpA (UCG), while the New York-based firm founded by former AIG Capital Partners Inc. President Peter Yu acquired 1.9 percent, according to RDIF Chief Executive Officer Kirill Dmitriev………………………………………..Full Article: Source

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