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Sovereign Wealth Funds Briefing 13.Feb 2013

Posted on 13 February 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund, which was already the single largest shareholder in Tiffany & Co, has raised its stake in the US luxury jeweller by one percentage point, according to a regulatory filing. The fund, the Qatar Investment Authority (QIA), increased its holding in Tiffany at the end of December, bringing its stake to 8.7 percent, according to the filing.
QIA first disclosed a stake in Tiffany, of 5.2 percent, last April. The sovereign wealth fund has been looking increasingly to buy minority equity stakes in large companies since last year. It has taken small stakes in companies such as Royal Dutch Shell, luxury conglomerate LVMH and oil company Total………………………………………..Full Article: Source

Posted on 13 February 2013 by VRS |  Email |Print

Qatar boosted holdings in Tiffany & Co., the world’s second-largest luxury jewelry retailer, as the country uses its energy wealth to snap up stakes in companies such as Credit Suisse Group AG, Xstrata Plc and Volkswagen AG.
Qatar Investment Authority, the Persian Gulf nation’s sovereign wealth fund, increased its stake to 8.7 percent at the end of last year, according to a regulatory filing. The fund previously had a 7.8 percent stake, according to a Dec. 17 filing. Tiffany gained 0.3 percent to $63.10 yesterday in New York Stock Exchange Trading, valuing the Persian Gulf nation’s 11 million-share stake at about $700 million………………………………………..Full Article: Source

Posted on 13 February 2013 by VRS |  Email |Print

Arabtec Holding, Dubai’s largest construction company, has moved employees to neighbouring Abu Dhabi after a firm backed by the UAE capital increased its stake and took seats on the board last year.
Aabar Investments, backed by one of Abu Dhabi’s sovereign wealth funds, last year raised its stake in Arabtec to 21.6 per cent. The company has won large projects in Abu Dhabi in the past year, including construction of a branch of the Louvre museum and the Midfield terminal at Abu Dhabi airport. Aabar, which dropped a $1.74 billion takeover offer for Arabtec almost three years ago, was delisted from Abu Dhabi’s stock exchange in 2010………………………………………..Full Article: Source

Posted on 13 February 2013 by VRS |  Email |Print

A Labor backbencher says he would like the Future Fund to make more moral investments, but understands it’s not a perfect world. The Australian Greens have again raised concerns about the Future Fund investing in tobacco companies.
The government-owned fund, run by an independent board, has investments of $221 million in 15 tobacco companies, a Senate Estimates hearing was told on Tuesday. It last purchased tobacco stock in May 2012 in the Czech Republic division of Philip Morris………………………………………..Full Article: Source

Posted on 13 February 2013 by VRS |  Email |Print

Australian private equity firm Ironbridge Capital and Government of Singapore Investment Commission have appointed Credit Suisse to consider exit options including an initial public offering of their co-owned leasing and fleet management business FleetPartners, Ironbridge joint chief executive officer Greg Ruddock told Deal Journal Australia.
“It’s been a great asset for us, and there’s plenty of growth opportunities left so we’re in no hurry to sell it,” Mr. Ruddock said on Wednesday………………………………………..Full Article: Source

Posted on 13 February 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund – currently worth 3.9 trillion kroner ($0.71 billion) – has purchased American property for the first time as it continues to expand its real estate holdings. The Norwegian Government Pension Fund Global announced it had bought a 49.9% stake in five office properties along the east coast of the United States: two each in New York City and Washington, DC, and one in Boston.
The properties, valued at $1.2 billion, will be managed by majority owner Tiaa-Cref, which oversees a host of retirement equity funds. The joint venture is seeking to purchase additional office properties, initially in “key east coast cities”, the announcement said………………………………………..Full Article: Source

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