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Sovereign Wealth Funds Briefing 27.Nov 2012

Posted on 27 November 2012 by VRS |  Email |Print

Azerbaijan, the Caspian nation best known for its caviar and petroleum, is buying Australian government bonds, joining a growing list of sovereign investors acquiring debt Down Under in a trend that has seen the Aussie dollar labelled a potential safe-haven currency by the International Monetary Fund.
The former Soviet republic’s $US33 billion ($31.5 billion) sovereign-wealth fund—the State Oil Fund of the Republic of Azerbaijan, or Sofaz—said it quietly started buying Australian bonds in July at a time when market data show the Aussie dollar gained 3.4 per cent in value over the month………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

The Future Fund has wrapped up a $2 billion deal for a range of concrete assets, including a stake in Melbourne airport. The sovereign wealth fund, which was set up in 2006 to fund the retirement benefits of thousands of public servants, has announced a deal to buy Australian Infrastructure Fund’s entire asset portfolio.
The assets include a 12.4 per cent holding in Melbourne airport, increasing the Future Fund’s stake in the Tullamarine assets to more than 29 per cent………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

Straumann Holding AG (STMN)’s vice chairman sold a 10 percent stake in the dental-implant manufacturer to Government of Singapore Investment Corp. to meet other financial commitments, making the fund its second-largest shareholder.
The sale reduces Thomas Straumann’s stake to 17 percent and increases the Singaporean sovereign-wealth fund’s holding to 14 percent, the Basel, Switzerland-based company said in a statement today. Mark Hill, a spokesman for Straumann Holding, declined to comment on the price the stake was sold at or the specific reason the vice chairman needed the money………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

Jin Liqun, the man at the helm of China’s $410 billion sovereign wealth fund China Investment Corporation (CIC), has emerged as a standard bearer for libertarian free-market principles.
In a delicious twist of irony, yesterday he slammed the US government and regulators for imposing useless, destructive and counter-productive regulations on the financial world. These new regulations, he believes, are the biggest threat to global growth………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

Libya’s sovereign wealth fund on Monday denied it wants to invest in the troubled Petroplus oil refinery in northwestern France, the official news agency LANA reported. The Libyan Investment Authority “denies reports on certain media and circulating on the Internet that it plans to buy a refinery in France,” it said, quoting a statement from the LIA.
It said the reports were incorrect and that “the media did not take the trouble to verify them,” adding that the LIA had not even carried out any such feasibility project for such an investment………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, confirmed yesterday that the global head of its infrastructure investments group had left the fund for personal reasons.
Chris Koski joined ADIA in 2007 from the Canadian Pension Plan Investment Board to set up its infrastructure team, and became the go-to person for bankers and funds pitching infrastructure-related investments to the Abu Dhabi fund, sources familiar with the matter said………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

Qatar Holding, the investment arm of the country’s sovereign wealth fund Qatar Investment Authority, yesterday said it had sold its remaining warrants in Barclays Plc valued at about £771 million ($1.24 billion), but continues to remain the the London-based bank’s biggest shareholder.
Doha-based Qatar Holding, which came to the rescue of Barclays during the 2007-2009 global recession, said it had sold its remaining holding of 379 million of Barclays warrants………………………………………..Full Article: Source

Posted on 27 November 2012 by VRS |  Email |Print

Sovereign Wealth Funds (SWFs) are some of the largest investors in both public and private markets, but their inner workings are largely kept out of the public sphere. Sometimes, however, a few moves are publicized – specifically, when foreign personnel become part of the staff. This was the case for Scott Kalb, the first foreign investment professional to become CIO and Deputy CEO of the Korean Sovereign Wealth Fund. He recently spoke about the move and how SWFs approach alternative investments in an interview with Matthias Knab for Opalesque TV.
Kalb explains that when it comes to alternatives, SWFs are investing as a limited partner (LP) in a limited partner/general partner structure (GP) which requires more discipline and due diligence than investing in public markets. “It usually takes three to six months to select a manager, so it is a long process. You have to make sure that you get to see them on the ground and you have to do a thorough evaluation,” he says………………………………………..Full Article: Source

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