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Sovereign Wealth Funds Briefing 22.May 2013

Posted on 22 May 2013 by VRS |  Email |Print

Singapore sovereign wealth fund Temasek has again taken up shares in the Industrial and Commercial Bank of China (ICBC) that Goldman Sachs wanted to unload. Temasek’s stake in the bank rose to 7.04 per cent from 6.71 per cent after it paid HK$1.54 billion for 280 million ICBC shares. Hong Kong stock exchange data showed that Temasek paid an average of HK$5.50 per share.
Goldman raised US$2.5 billion from the sale of ICBC H shares in April last year. Temasek bought most of them, some US$2.3 billion worth. The sovereign wealth fund is keen to invest in mainland banks, and it has allocated more than half its portfolio to Asia………………………………….Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

Temasek Holdings Pte (TMSK), Singapore’s state-owned investment company, boosted its stake in Industrial & Commercial Bank of China Ltd. for the third time in a year as Goldman Sachs Group Inc. (GS) ended an investment in the lender.
Temasek bought 280 million shares in the world’s largest bank by market value at an average price of HK$5.50 a share, or a total of HK$1.54 billion ($198 million), according to a Hong Kong stock exchange statement………………………………….Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

Singapore state investment company Temasek Holdings Pte. Ltd. has bought a significant stake in U.K. financial data provider Markit Group Ltd., according to a press release by Markit. Temasek will take an approximately 10% stake in the investment of about $500 million, a person familiar with the matter said.
Markit was initially founded by a group of investment banks as a provider of credit default swap pricing and has since branched out into other financial markets. The original shareholders have since sold down their stakes to a variety of private equity firms and investment funds………………………………….Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

The presumed next leader of China’s sovereign wealth fund may look inward for growth. Although still not officially confirmed, it has been widely reported that Tu will take over as chairman of CIC. Most of the foreign press coverage has focused on CIC’s role in investing a major portion of China’s US$3.2 trillion in foreign exchange reserves overseas.
The US$482 billion fund has made many high profile investments, such as one in London’s Heathrow Airport last year………………………………….Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

Barely seven months after the inauguration of the board of the Nigerian Sovereign Investment Authority (NSIA), the organisation has said it would commence investment of the $1 billion Sovereign Wealth Fund with initial $200 million from next month.
The managing director the NSIA, Dr Uche Orji, stated yesterday in Abuja that the NSIA is now fully operational and that the board has already met three times to approve the Investment Policy Statement as well as make allocation to the three different funds, namely the Stabilisation Fund, the Future Generation Fund and the Nigerian Infrastructure Fund………………………………….Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

The investment arm of the Sovereign Wealth Fund (SWF) – the Nigeria Sovereign Investment Authority (NSIA) – has approved an investment allocation of $850 million for the three investment windows of the SWF.
Managing Director/CEO of NSIA, Mr. Uche Orji, said the Future Generations Fund and the Nigeria Infrastructure Fund will each get $325 million or 32.5 per cent while the Stabilisation Fund will receive $200 million or 20 per cent. He spoke yesterday on the commencement of the operations of the NSIA. The remaining 15 per cent of $150 million, he said “will be kept as unallocated for now, and used to top up each of the ring-fenced funds, as opportunities arise.”…………………………………Full Article: Source

Posted on 22 May 2013 by VRS |  Email |Print

Canary Wharf Group Plc and Qatar’s sovereign-wealth fund won local-government approval to build 877 homes and eight office towers at the site of Royal Dutch Shell Plc (RDSA)’s London headquarters on the banks of the River Thames.
A joint venture between the fund’s Qatari Diar Real Estate Investment unit and Canary Wharf gained Lambeth Borough Council’s permission to construct eight buildings totaling about 76,000 square meters (820,000 square feet) of space and ranging from five to 37 floors at Shell Centre. The tower occupied by Shell since the 1960s will remain part of the development………………………………….Full Article: Source

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