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Sovereign Wealth Funds Briefing 18.Feb 2013

Posted on 18 February 2013 by VRS |  Email |Print

It is not unfair to assert that sovereign wealth funds (SWFs) of the six-nation Gulf Cooperation Council (GCC) states serve as a blessing for the well-being of global economy at large. This declaration reflects some hard facts, namely SWF’s amount on the one hand and willingness of GCC authorities to relocate the wealth in the form of investments in different sectors across the continents. This amounts to sharing wealth of GCC countries with others, clearly an internationally-responsible conduct.
The combined SWFs of the six-nation grouping amounted to a staggering $1.7 trillion by-end 2012. This represents a comfortable 35 per cent of all SWFs in the world, collectively valued at $5.2 trillion. Effectively, GCC countries account for almost all contributions of the Middle East region………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

India is wooing some of the world’s largest sovereign wealth funds, including the Abu Dhabi Investment Authority (ADIA), as the private equity funds explore investment opportunities in India. Abu Dhabi Investment Authority (ADIA) is one of the largest sovereign wealth funds in the world with assets reported to be $ 627 billion.
India’s minister of commerce, industry and textiles Anand Sharma today left for a two-day visit to United Arab Emirates (UAE) where he will co-chair the first meeting of a high-level task force on investment with UAE on Monday, apart from substantive bilateral meetings………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

Government of India bonds to be issued specifically for funding big ticket infrastructure projects have attracted the interest of the world’s largest sovereign wealth fund, the Abu Dhabi Investment Authority, which has a corpus of over $600 billion.
“The Abu Dhabi Investment Authority has shown interest to invest in the government of India (infra) bonds,” a senior commerce ministry official, who is part of the high-level task force on investment with UAE, said………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

The Abu Dhabi Investment Authority is close to buying 42 hotels managed by Marriott International (MAR) Inc. and controlled by the Royal Bank of Scotland, according to a person familiar with the situation.
The sovereign wealth fund, also known as ADIA, has been a preferred bidder since last summer and the sale includes hotels in London and Edinburgh, the person said, asking not to be identified because the deal hasn’t been made public………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

Singaporean sovereign fund Temasek is in talks to buy a stake in Markit, the UK-based financial data firm. Singapore’s main sovereign wealth fund is in talks to buy a stake in Markit Group, the fast-growing financial data provider that has become one of Britain’s most successful private companies.
I have learnt that Temasek Holdings, which manages hundreds of billions of dollars of Singaporean state funds, has been approached about taking a minority shareholding in Markit, which provides information across financial asset classes such as credit default swaps………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

It’s no surprise, really. That sums up the reaction of analysts to Temasek Holdings becoming the largest shareholder of Olam International. The sovereign investment firm last Friday added a further 0.01 per cent, or 150,000 shares, to its stake in the agricultural commodities trader, bringing its total stake in the firm to 21 per cent.
According to filings on the Singapore Exchange, the purchase was made through market transactions. Temasek paid $247,500, or $1.65 apiece.Olam’s founding firm Kewalram Singapore has now been pushed to second spot in the list of shareholders, with a 20.23 per cent stake, according to Bloomberg data………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF) announces that it has invested in the initial public offering (IPO) of the Moscow Exchange and secured leading international investment funds to co-invest in the IPO.
The investment is part of a long-term strategy to promote the development of Russian capital markets and broaden the international appeal of the Moscow Exchange. Prior to the IPO, through its co-investment model, RDIF also attracted other investors to the Exchange; the European Bank of Reconstruction and Development (EBRD), Cartesian Capital, BlackRock and China Investment Corporation (CIC)………………………………………..Full Article: Source

Posted on 18 February 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund is in advanced talks with Russia’s second-largest bank VTB about injecting between U.S.$3bn and U.S.$3.5bn into the banking giant, the Telegraph reported. VTB will likely issue the Qataris with U.S.$1.5bn of new equity and US$1.5bn of mandatory convertible bonds under the structure of the deal, the daily said citing sources.
The deal may be announced by next week, the paper said. VTB shares jumped as much as 3.76 percent on the report, while the overall Russian market was 0.08 percent down by 0717 GMT. VTB declined to comment on the report. Representatives for Qatar’s sovereign wealth fund were not immediately available for comment………………………………………..Full Article: Source

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