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Sovereign Wealth Funds Briefing 14.Nov 2012

Posted on 14 November 2012 by VRS |  Email |Print

Blackstone Group LP (BX) expects to increase sales of its property holdings in the next year, with potential buyers including real estate investment trusts and sovereign wealth funds, said Jonathan Gray, the firm’s global head of real estate.
Blackstone this year finished raising $13.3 billion for the largest-ever private-equity real estate fund. The company, based in New York, is moving to sell investments from prior funds as it invests its new pool………………………………………..Full Article: Source

Posted on 14 November 2012 by VRS |  Email |Print

With more than $500 billion at their disposal, Chinese sovereign wealth funds can flex financial muscle with ease. But their strength is usually cloaked in cloying words of warmth and friendship. That’s what made the hostile bid last month for an Australian-owned, African copper mining concern so jarring.
“For a Chinese sovereign to partner with a strategic interest and go hostile, it’s a first,” says Jinshu Zhang, a Los Angeles-based partner with Reed Smith LLP, and the senior director of the firm’s Asia-Pacific practice………………………………………..Full Article: Source

Posted on 14 November 2012 by VRS |  Email |Print

China’s loan to potash billionaire Suleiman Kerimov should give the world’s biggest buyer of the crop nutrient its first access to the global suppliers who dominate fertilizer makers.
The China Investment Corp. sovereign wealth fund last week agreed to buy bonds from the investor and his partners that they can repay in 2014 with a 12.5 percent stake in OAO Uralkali, the world’s largest potash producer. The deal underscored a contest for potash assets two weeks after Israeli Prime Minister Benjamin Netanyahu said Potash Corp. of Saskatchewan Inc. (POT) had proposed buying Israel Chemicals Ltd. (ICL) to usurp Uralkali………………………………………..Full Article: Source

Posted on 14 November 2012 by VRS |  Email |Print

Hong Kong-based private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion for its second fund focused on Greater China, sources familiar with the matter said, defying increasingly tight fundraising conditions.
Founded in 2007 by four former Temasek executives from the Singapore state investor’s China team, Fountainvest raised a debut fund of $950 million in 2008………………………………………..Full Article: Source

Posted on 14 November 2012 by VRS |  Email |Print

Our investment bank is being rightsized, says UBS Chairman Axel Weber during our conversation in late September. “That’s the word I would use.” Just over a month later, UBS - in which Singapore’s sovereign wealth fund GIC is the single largest shareholder - announced the biggest shake up of any investment bank since the global financial crisis.
Having already cut more than 3,500 jobs over the last three years, the bank axed another 10,000 on Oct 30, 16 per cent of its total workforce of 64,000 - most of them from its investment banking operations………………………………………..Full Article: Source

Posted on 14 November 2012 by VRS |  Email |Print

France’s industry minister is leaning toward a deal with Libyan state oil company Tamoil to rescue France’s oldest refinery after the collapse of its previous owner Petroplus, French daily Le Monde reported on Tuesday.
Arnaud Montebourg said earlier this month he had received a non-binding letter of interest from Libya’s sovereign wealth fund to save the Petit-Couronne refinery of insolvent Swiss refiner Petroplus from liquidation………………………………………..Full Article: Source

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