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Sovereign Wealth Funds Briefing 20.Jun 2013

Posted on 20 June 2013 by VRS |  Email |Print

Two years after being born during the 2011 St. Petersburg International Economic Forum, Russia’s state owned fund for attracting foreign investment has hammered out five key partnership agreements with both private and government run global peers.
It has put $620 million of its own funds into key projects and convinced partners to cough up another $2 billion. A brainchild of then-President Dmitry Medvedev, the Russia Direct Investment Fund, or RDIF, operates as a subsidiary of Vneshekonombank and has been allocated $10 billion of government money………………………………………..Full Article: Source

Posted on 20 June 2013 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF), Titan International Inc. and One Equity Partners LLC have reached an agreement with Russian tire producer Cordiant to invest in Voltyre-Prom, a Russian agricultural and industrial tire manufacturer. To shed additional detail on the involved entities, Titan International Inc., is one of the world’s largest manufacturers of agricultural and industrial tires that makes them under the Titan and Goodyear brands.
One Equity Partners is a subsidiary of JP Morgan Chase Co that manages private equity investments. This consortium will own a controlling stake in Voltyre-Prom with Titan International as the managing partner. Titan International is keen on growing their tire business in Russia and the Commonwealth of Independent State countries. The company is bullish on Russia’s burgeoning farming and mining industries……………………………………….Full Article: Source

Posted on 20 June 2013 by VRS |  Email |Print

The Central Bank of Azerbaijan (CBA) increased its foreign exchange reserves held in securities by 13.24 percent in January to May 2013 compared to the same period of last year, the CBA’s statistical report released on Tuesday says.
As of late May, some 2.72 billion manat or 21.8 percent of the total foreign exchange reserves held by the Central Bank were placed in securities. According to the report, 9.11 billion manat are held in deposits in the accounts of other central banks, the Bank for International Settlements and the International Monetary Fund……………………………………….Full Article: Source

Posted on 20 June 2013 by VRS |  Email |Print

EQT V and GIC Special Investments Pte Ltd, the private equity arm of the Government of Singapore Investment Corporation Pte Ltd (GIC), announced that they have agreed to sell Springer Science+Business Media (Springer), a leading global scientific, technical and medical (STM) publisher, to the private equity firm BC Partners Limited (BC Partners) for a total enterprise value of around EUR 3.3 billion including a performance-related component, which allows EQT V to participate further in the promising development of the company.
EQT V and GIC acquired Springer in 2010 and installed a strong industrial board with media and database experts to support the excellent management team around CEO Derk Haank and the company. Since then, the owners have invested EUR 304 million and Springer has improved sales by 6.4% p.a. to EUR 981 million and EBITDA by 12.6% p.a. to EUR 341 million in 2012. (Press Release)

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