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Sovereign Wealth Funds Briefing 15.Nov 2012

Posted on 15 November 2012 by VRS |  Email |Print

China Investment Corporation (CIC) is in talks to invest in a fund launched by New Zealand’s Fonterra, the world’s largest dairy processor, the Wall Street Journal reported on Wednesday, citing unnamed people with direct knowledge of the plans.
CIC, China’s sovereign wealth fund, is considering an initial investment of less than $100 million, the Journal added. Fonterra, a co-operative owned by about 10,500 farmers, launched the NZ$525 million ($430 million) fund last month, hoping to lure investors with an expected yield of up to 7 percent. Pricing is slated for Nov. 27………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Chinese interest in investing in Fonterra’s shareholder fund was predictable once the scheme was approved and underlines the need for constitutional protections for the Trading Among Farmers scheme, says the main farm lobby group.
China’s sovereign wealth fund, the $US400 billion ($NZ494b) China Investment Corp (CIC), is in talks to buy units in the $525 million fund with an investment smaller than $US100m, the Wall Street Journal has reported, citing people with direct knowledge of the plans………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Global Logistic Properties Ltd. (GLP), the world’s second-biggest owner of industrial properties, plans to raise S$404 million ($330 million) from the sale of new shares to fund its investment in Brazilian warehouses.
The unit of Singapore’s sovereign wealth fund will sell 160 million new shares at S$2.59 each, GLP, as the company is known, said in a statement to the Singapore exchange today. The price is a 4.8 percent discount to its last close of S$2.72 on Nov. 12. GLP will buy the Brazil properties for 2.9 billion real ($1.4 billion) with its Singapore parent, Canada Pension Plan Investment Board and China Investment Corp………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, raised its stake in Rio Tinto Group’s Turquoise Hill Resources Ltd. (TRQ) unit to 3.7 percent in the third quarter, according to a filing.
Temasek holds 36.6 million shares of Vancouver-based Turquoise Hill, an increase of 31.4 million shares from the preceding quarter, according to a filing today with the U.S. Securities and Exchange Commission. The stake has a market value of $297 million………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Sovereign wealth funds should not be the main investors in the privatization of state assets, First Deputy Prime Minister Igor Shuvalov believes. Last week, Deputy Transport Minister Alexei Tsydenov said that a 5% stake in Russian Railways (RZD), the privatization of which in 2013 was recently discussed at a cabinet meeting, could be bought by state-owned Vnesheconombank (VEB) or one of Russia’s wealth funds.
Commenting on this proposal, Shuvalov said that “the issue needs to be decided [depending] on the stake that will be offered.”……………………………………….Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund is poised to back Glencore International PLC’s $31.3 billion offer for Xstrata PLC as well as bonuses for some 70 managers, Bloomberg News reported Wednesday, citing three people with knowledge of the plan.
Qatar Holding LLC is Xstrata’s second-largest shareholder. A spokesman for Qatar Investment Authority was not available for comment, Bloomberg reported………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

The fund manager spun out of Abu Dhabi’s sovereign wealth fund is launching an African equities fund together with Moroccan bank Attijariwafa, seeking to take advantage of Africa’s “economic emergence”. Abu Dhabi-based Invest AD has signed a memorandum of understanding with Attijariwafa that will see the two launch an equity fund and help each other source new business.
The firms will jointly seed the African equities fund, which will be co-managed by Invest AD and Attijariwafa’s fund management unit, Wafa Gestion………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

The Canada Pension Plan Investment Board (CPPIB) has been a major Brazilian institutional real estate investor. Billions of Canadian public pension dollars have flown past the United States and the Caribbean Sea into Brazil’s real estate assets.
The CPPIB is increasing exposure by investing US$ $343 million into joint partnerships to acquire two large portfolios in Brazil. These partnerships are with Asian sovereign wealth funds and other real estate related entities………………………………………..Full Article: Source

Posted on 15 November 2012 by VRS |  Email |Print

Alternative asset managers targeting sovereign wealth fund (SWF) money have to be much more than alpha-generators, a former CIO has revealed. Scott Kalb, who recently completed a term as CIO of the Korean Investment Corporation (KIC), said in a backstage interview with sector specialist Opalesque TV this month that picking any manager involved a long and detailed process, but when dealing with alternatives firms, investors had to be especially careful.
Kalb said: “You’re not in public markets, you’re investing as an LP and so you have an LP-GP relationship. You have to set up a process that’s looking at things like track record, staffing, management………………………………………..Full Article: Source

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