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Sovereign Wealth Funds Briefing 12.Jul 2013

Posted on 12 July 2013 by VRS |  Email |Print

Government-owned investment funds are becoming bigger and bigger, gobbling up massive stakes in Western corporations. These Sovereign Wealth Funds (SWFs) hold financial assets, such as stocks and bonds, in their portfolios. Foreign exchange assets, with many coming from oil and gas earnings, are used to purchase these financial assets.
Although the first such fund, the Kuwait Investment Authority, was established in 1953, SWFs didn’t rise in prominence until about 2005, when roughly 30 SWFs were created. The exact number of SWFs existing today is not known, given the lack of transparency in some countries. However, the Sovereign Wealth Fund Institute publishes a list of 69 SWFs, detailing each fund’s assets, year of inception, funding source, and the Linaburg-Maduell Transparency Index, which indicates how difficult it is to obtain information about the fund………………………………………..Full Article: Source

Posted on 12 July 2013 by VRS |  Email |Print

Abu Dhabi Investment Authority (ADIA) plans to invest about $200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe.
ADIA, which manages the surpluses the Gulf emirate earns from oil exports, has appointed Kotak Realty Fund, run by Kotak Mahindra Bank Ltd, to invest the money, one of the sources familiar with the matter said. Earlier this month, Oman’s State General Reserve Fund and the Government of Singapore Investment Corp (GIC) and Temasek committed to invest $200 million in a real estate fund run by India’s biggest mortgage lender, Housing Development Finance Corporation………………………………………..Full Article: Source

Posted on 12 July 2013 by VRS |  Email |Print

A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit, the Wall Street Journal reported on Thursday, citing two people familiar with the matter.
RWE in March said it was planning to sell DEA in a move to slash capital spending and cut its debt pile, with sources and analysts valuing the unit at about 5-8 billion euros ($6.52-$10.43 billion). RWE’s DEA unit and the Qatar Investment Authority could not be immediately reached for comment outside regular business hours………………………………………..Full Article: Source

Posted on 12 July 2013 by VRS |  Email |Print

Brazil’s EBX Group successfully has concluded a debt refinancing deal with Abu Dhabi’s sovereign wealth fund in a major step toward shoring up billionaire Eike Batista’s conglomerate, EBX said.
A source with direct knowledge of the EBX-Mubadala accord told Reuters last week that the agreement will cut EBX’s debt with the Abu Dhabi fund, Mubadala Development Co, by more than 25 percent to between $1.6-$1.7bn. The debt was valued at $2.3bn recently, the source said………………………………………..Full Article: Source

Posted on 12 July 2013 by VRS |  Email |Print

GAC acquisition gives flight to EGA’s ambition in becoming a key player in global aluminium production and paves way for significant global and regional expansion. Abu Dhabi’s Mubadala and Dubai Aluminium (Dubal) have secured full ownership of Guinea Alumina Corporation (GAC) after acquiring the stakes of their former joint venture partners Global Alumina Corporation and BHP Billiton.
The takeover will be carried out by Emirates Global Aluminium (EGA), the newly created merger between the UAE’s two state aluminium firms, Dubal and Emirates Aluminium (Emal)………………………………………..Full Article: Source

Posted on 12 July 2013 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF) has appointed three new members to the fund’s International Advisory Board. The three new members of the International Advisory Board represent the world leading investment institutions: Gao Xiqing, President of the China Investment Corporation (CIC); Khaldoon Khalifa al-Mubarak, CEO of Mubadala Development Company;Ahmad Mohamed Al-Sayed, CEO of Qatar Investment Authority.
Immediately prior to his post, he served as Deputy Chairman of the National Council for the Social Security Fund. He also worked as Deputy Chairman at the China Securities Regulatory Commission, and General Counsel and the Director General of the Public Offering Supervision Department. (Press Release)

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