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Sovereign Wealth Funds Briefing 05.Jun 2013

Posted on 05 June 2013 by VRS |  Email |Print

LondonMetric Property Plc (LMP), a real estate investment trust created by a takeover last year, agreed to sell logistics centers in a deal valued at 247.6 million pounds ($379 million) including debt to a company owned by Prologis Inc. (PLD) and Norway’s sovereign-wealth fund.
LondonMetric would receive 68.3 million pounds after repayment of debt and fees for the 11 warehouse properties with 2.4 million square feet (223,000 square meters) of combined space, the London-based company said in a statement today. The deal’s net initial yield is 6.25 percent, it said………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

The world’s largest sovereign wealth fund has snapped up a £250m portfolio of suburban warehouses in the UK in a deal that highlights big investors’ shift away from “trophy” property assets.
Norges Bank Investment Management, Norway’s $720bn oil wealth fund, confirmed on Tuesday that it had agreed to buy the 11 warehouses, which are used as distribution centres for retailers including Tesco, Primark and the Co-op………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Erdebai Dauren Imanzhanuly was appointed to the post of deputy chairman of board of the Kazakh Sovereign Wealth Fund Samruk-Kazyna, the fund said. According to the report, Erdebai has served as Chairman of the Board of “United Chemical Company” since 2009. He served as director general of “Kazakhstan Petrochemical Industries Inc” from 2007 to 2009. Moreover, at various periods Erdebai worked at senior public positions, as well as in the private sector.
Kuandik Bishimbayev previously held this position but he was dismissed in connection with his transfer to another position. According to the report, he led the Baiterek new company………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Azerbaijan`s State Oil Fund, known as SOFAZ, is considering investing in the Chinese yuan as it broadens expansion into new currencies to diversify reserves.
“We are currently exploring the Chinese currency,” SOFAZ Executive Secretary Shahmar Movsumov told reporters in Baku. “There are some institutional problems to resolve. Investors cannot just come and invest in China any time they wish. There are some very strict terms.”……………………………………….Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

As of April 1, 2013, Russia’s Reserve Fund amounted to RUB 2.666 trillion ($84.39 billion), the National Wealth Fund totaled RUB 2.739 trillion ($86.72 billion), Russia’s Ministry of Finance informed.
Aggregate income from the Reserve Fund deposits on foreign currency accounts with the Bank of Russia, denominated in US dollars, over the period from January 15 to May 31, 2013, was estimated at $0.09 billion, which is equal to RUB 2.77 billion. From January 1 to May 31, 2013, the exchange rate difference from revaluation of these balances was negative RUB 66.77 billion………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Buyers are queueing up to get a foot in the door of the first property launch to emerge from the partnership in Iskandar Malaysia between Temasek Holdings and Khazanah Nasional.
All of the 147 units at Afiniti Residences will be launched for sale at a balloting exercise on Saturday morning at the Traders Hotel at Puteri Harbour in Iskandar. About 1,570 people have registered their interest online for the 129-year leasehold condominium, which is next to Legoland in Nusajaya, with more signing up since registration closed last week……………………………………….Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Singapore’s Temasek Holdings has raised its stake in a Philippine gaming business involved in building a US$1 billion casino-resort project in Manila.
Temasek took its investment in Melco Crown (Philippines) Resorts Corporation to more than 5 per cent, the level at which companies are required to disclose shareholdings, a filing to the Philippine Stock Exchange showed on Tuesday. The shares are held by Temasek subsidiaries………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Singapore’s state investment fund, Temasek Holdings (Private) Ltd., has acquired 5 percent of listed gaming firm Melco Crown (Philippines) Resorts Corp. A block of 222 million shares estimated to be worth P2 billion at yesterday’s closing price of P9.11 per share, was bought last May 28 by Temasek’s subsidiary Fullerton Fund Management Co., currently the fund manager of Melco Crown.
“Various funds and client accounts managed by Fullerton Fund Management Co. Ltd. hold shares in Melco Crown. Fullerton Fund Management Co. has voting power and/or investment power over those shares, in its capacity as fund manager,” Melco Crown said in its disclosure………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Khazanah Nasional Bhd, the investment holding arm of the Malaysian government, sold 50 million shares, or a 0.9% stake, in state-run power company Tenaga Nasional Bhd for 412 million ringgit ($133 million) Tuesday through a private placement.
The shares were sold at MYR8.24 apiece, representing a 1.6% discount to Monday’s closing price, according to a joint statement from banks involved in the private placement. CIMB and Deutsche Bank were the joint placement agents for the deal………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Mumtalakat Holding Company, the investment arm of Bahrain, said on Tuesday it has appointed a new chief operating officer. It said Zulfe Ali had moved up from his previous position within the company of vice president Corporate Finance when he managed Mumtalakat’s portfolio of liquid investments.
A company statement said Ali has nearly 20 years of experience in the financial services industry in both asset management and investment banking………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Brazil’s foreign currency reserves in May fell $4.25 billion to $374.42 billion from $378.66 billion in April, the Central Bank of Brazil said on its website late Monday.
According to economists, the decline likely occurred due to an adjustment in the prices of assets held, such as U.S. Treasurys, which make up the larger part of Brazil’s foreign reserves. The central bank doesn’t comment on the performance of foreign reserves. So far this year, foreign reserves have fallen $4.2 billion. They ended 2012 at $378.6 billion………………………………………..Full Article: Source

Posted on 05 June 2013 by VRS |  Email |Print

Singaporeans, South Koreans, Israelis and Norwegians are accelerating purchases of U.S. real estate as a growing economy and rebounding prices lure yield-hungry buyers from overseas. International investors made $7.97 billion in U.S. commercial-property purchases this year through April, a 25 percent jump from the same time in 2012, according to Real Capital Analytics Inc.
Blackstone Group LP, the second-biggest U.S. office landlord, has said it expects strong interest from sovereign-wealth funds for properties it plans to sell starting this year.The interest comes from all parts of Asia, Europe and the Middle East. You’ve got some relatively young, very large sovereign-wealth funds that are just starting to actively invest………………………………………..Full Article: Source

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