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Sovereign Wealth Funds Briefing 10.Jan 2013

Posted on 10 January 2013 by VRS |  Email |Print

China Investment Corp. is among three large funds vying to take a stake in Australian dairy producer Van Diemen’s Land Co., or VDL. Executives from China’s US$482 billion fund are due to visit Tasmania state in February for further discussions over investing in the company, which is seeking to raise 180 million Australian dollars (US$189 million) to expand its milk production, two people familiar with the matter said.
VDL Chief Executive Michael Guerin told Deal Journal Australia the company had signed agreements for three large funds to conduct due diligence, but declined to confirm whether CIC was among them. All three have put in proposals featuring varying amounts of equity and debt, and he expects to finalize the deal by the middle of the year, he added………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

China is said to be planning to buy a stake in German car and truck maker Daimler. Managing the deal financially would be the China Investment Corporation (CIC). But who calls the shots there?
China own the world’s biggest currency reserves, with around three trillion euros ($3.9 trillion) at its disposal. It’s the prime task of the China Investment Corporation (CIC) to manage a significant part of those reserves and to invest them profitably. The CIC, which was founded in 2007, has capital of almost 400 billion euros, making it one of the world’s biggest investment companies………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

China Investment Corporation (CIC), the country’s sovereign wealth fund, announced Thursday it has launched a joint growth fund with the Belgian Federal Holding and Investment Company and private equity firm A CAPITAL to invest into European groups to boost their growth in China.
The new fund is targeting solidly performing European midcaps with revenues over 100 million euros and strong growth potential in China, according to a joint statement released by the three companies………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

Temasek Holdings Pte and its partners sold 20.9 billion baht ($687 million) of Shin Corp. (INTUCH) shares, paring its stake in the company that controls the biggest Thai mobile-phone operator, according to a term sheet.
Singapore’s state-owned investment company and its partners in Cedar Holdings Ltd. offered 330 million Shin shares at 63.25 baht each, according to the term sheet sent to investors………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

A unit of Singapore investment firm Temasek Holdings will raise US$687 million (S$845 million) through the sale of its 10.3 per cent stake in Thai telecommunications firm Shin Corp.
Cedar Holdings will sell 330 million Shin Corp shares at 63.25 baht (S$2.56) each, which would raise 20.87 billion baht, IFR reported. Its term sheet, seen by Reuters, had an indicative price of 62.75 baht to 63.75 baht per share……………………………………….Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

The $80 billion Future Fund has stepped up its investment in the US property market with a $US350 million ($333m) stake in a fund investing in US residential apartments and a $US59m investment in Dallas-based property company The Howard Hughes Corporation.
The investments, made last last year, are part of the Future Fund’s move to expand its exposure to international property. The fund had more than $2 billion invested in the North American property market out of its total $5.1bn property portfolio as of the end of September………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

Australian Infrastructure Fund investors are likely to back a $2 billion bid by the Federal Government’s Future Fund, which will see a change of ownership for the Gold Coast Airport.
AIX, which owns the airport and several other major infrastructure assets in Australia and overseas, has entered into a binding conditional agreement to sell its holding to the Future Fund. Security holders will have a final say on the proposal on Tuesday when the extraordinary general meeting is staged in Melbourne and analysts said they expected investors to get behind it………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

The superannuation fund for health and community services workers has become the latest fund to dump its investments in tobacco. The chief executive of the Health Employees Superannuation Trust Australia (HESTA), Anne-Marie Corboy, confirmed the fund had started removing tobacco investments from its portfolios, following a decision by the fund’s board late last year.
Ms Corboy said she expected the fund, which has more than 750,000 members, to have sold all tobacco investments by April………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

The National Pension Reserve Fund is to invest in small businesses by establishing three new funds to provide equity, credit and restructuring investment to Irish SMEs. The NPRF will invest up to €500 million across the funds, which include an SME equity fund, an SME credit fund and an SME turnaround fund.
The turnaround fund will invest in underperforming businesses that are at or close to the point of insolvency but have the potential for financial and operational restructuring, while the credit fund will lend to larger SMEs and mid-size corporates………………………………………..Full Article: Source

Posted on 10 January 2013 by VRS |  Email |Print

Jon Moulton’s private equity firm has formed a joint venture with the Irish National Pensions Reserve Fund to help turnaround small Irish companies. Under the deal, Better Capital will manage a €100m fund called the SME Turnaround Fund to invest in underperforming Irish businesses that have the potential for restructuring.
Ireland’s €14 billion National Pensions Reserve Fund will commit €50m of the funding, with the remainder provided by Better Capital’s BECAP12 Fund………………………………………..Full Article: Source

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