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Sovereign Wealth Funds Briefing 24.Jan 2013

Posted on 24 January 2013 by VRS |  Email |Print

An Omani sovereign wealth fund is in advanced talks to buy a near 42 percent stake in Oman National Investment Corp Holding (ONIC) from a unit of Dubai’s ruler’s personal investment firm, two sources aware of the matter said.
Oman Investment Fund, which has a regional and global investment portfolio, is in discussions to buy the stake, currently worth about US$59m, the sources said, speaking on condition of anonymity as the matter has not been made public………………………………………..Full Article: Source

Posted on 24 January 2013 by VRS |  Email |Print

Qatar expects to save about $50bn each year until 2017 to take its international reserves — including sovereign wealth assets — to $485bn from the present estimated $215bn, according to International Monetary Fund estimates.
The Qatari have authorities indicated that they would continue to formulate budgets based on conservative oil prices, which, given the baseline assumptions for oil prices in the medium-term, would in IMF staff’s estimation enable continued large savings of about $50bn each year until 2017 through the Qatar Investment Authority, the Breton Woods institution said in its Article IV consultation report………………………………………..Full Article: Source

Posted on 24 January 2013 by VRS |  Email |Print

Despite claims from investors that the Future Fund may have breached shareholder agreements regarding its $2 billion takeover of the airport assets of Australian Infrastructure Fund Ltd, the sovereign pension fund has said it is confident in its legal position. Several co-investors are seeking legal advice and potentially an injunction against the sale of airport holdings in Perth, Melbourne and the Gold Coast to the Future Fund.
They claim that the individual valuations placed on the AIF airport holdings by the Future Fund were distorted to avoid pre-emption over the most popular assets, which could represent a breach of the terms of the separate shareholder agreements government relations between the investors in the assets………………………………………..Full Article: Source

Posted on 24 January 2013 by VRS |  Email |Print

Mega U.S. buyout deals involving public investors in consortiums are a rare occurrence. Several large sovereign funds and public investors are keen on these types of consortium deals; however, they are stapled with unwanted public attention. In addition, if the investment sours, then public funds won’t hear the end of it in the media and board meetings.
Dell Inc. is contemplating going private and has formulated a special committee to assess the best possible outcomes. Silver Lake Partners, a private equity firm, is trying to assemble partners for a consortium to take Dell private. The leveraged buyout price according to news sources was speculated to be at US$ 13 to 14 per share. This would make Dell a mega buyout………………………………………..Full Article: Source

Posted on 24 January 2013 by VRS |  Email |Print

Kazakhstan earmarked $ 10 billion out of the National Oil Fund [accumulating windfall oil revenues] to combat the financial crisis. However, the money has gone nowhere, a Tengrinews.kz journalist reports, citing President Nazarbayev as saying at a sitting in his Akorda Residence held to tally 2012 results.
“It’s easy to ask for money out of the National Oil Fund. The $ 10 billion allocated to combat the financial crisis is gone. There is no pay-off”, President said. According to President, “country’s banks are begging for the National Oil Fund’s money rather than working properly to earn money”………………………………………..Full Article: Source

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