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Sovereign Wealth Funds Briefing 19.Aug 2013

Posted on 19 August 2013 by VRS |  Email |Print

Oil, gas, minerals…it is the story of many emerging African economies. Foreign investors flock to these countries with new ideas, new technologies, and more money. Presidents and prime ministers announce new discoveries and rightfully hype the potential of the country. But how do you keep the momentum going in the long run? Start a sovereign wealth fund (SWF).
Or so that is what many investors and advisors keeps telling us, says a Mozambican government official, but we are still internally working out the concept. The path to prosperity, he continues, is not that clear………………………………………..Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

Malaysia’s sovereign wealth fund, Khazanah Nasional, is setting up its first two offices outside Asia - in Turkey’s Istanbul and San Francisco in the US- as it moves to expand its foreign portfolio.
The $40 billion fund, which has branches in Beijing and Mumbai as well as Kuala Lumpur, has been building its exposure in emerging markets. It already has interests in Turkey, a country widely viewed as offering strong investment potential despite recent political turmoil……………………………………….Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

Slapped with a Rs 50-lakh fine for late filing of an application with fair trade regulator CCI, Singapore government’s investment arm Temasek says it is “disappointed” and will take steps after studying the order. “Given the circumstances, Temasek is naturally disappointed with the decision, but respects the Commission’s decision under Indian law. Temasek will study the decision, and will take the necessary actions to follow up as needed,” the Singaporean sovereign investor said.
The fine of Rs 50 lakh was imposed on Temasek Holdings and its two subsidiaries for delayed submission of a mandatory application to the Competition Commission of India (CCI) with regard to a proposed acquisition of shares from DBS Group………………………………………..Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

Investors responsible for more than $2 trillion recently gathered at a resort in the Canadian Rockies, far from the news media and, more important, far from Wall Street. Those in attendance, including leaders of Abu Dhabi’s sovereign wealth fund and France’s pension system, were there to consider ways to put their money to work together without paying fees to private equity firms and hedge funds.
Over that weekend, three of the attendees completed the details of a $300 million investment in a clean-energy company………………………………………..Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. It often buys partial interest ownerships with leading real estate managers. Gulf sovereign wealth investors are keen to hotels, especially in gateway cities.
By interpreting data through the Sovereign Wealth Fund Institute’s transaction database, ADIA has been a direct investor in hotels for quite some time. For example, ADIA through a subsidiary was the majority owner of the 1,190-room Hilton San Diego Bayfront which they sold for $475 million to Sunstone Hotel Investors in mid-April 2011………………………………………..Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

A unit of Libya’s sovereign wealth fund is in talks to buy a 35-percent stake in state-owned Tunisie Telecom from a conglomerate owned by Dubai’s ruler, Reuters reported on Thursday.
Dubai Holding’s arm, Emirates International Telecommunications LLC (EIT), is trying to reduce debt and is set to take a huge hit on the stake it bought for $2.25bn in 2006. JP Morgan Chase valued it at $650m in July. The company has been hit by political and economic turmoil since the popular uprisings in the region that started in 2011………………………………………..Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

Libya’s sovereign wealth fund LAP GreenN is in talks to buy the Dubai ruler’s 35-per cent stake in Tunisia’s state-owned Tunisie Telecom. JP Morgan Chase valued it at $650 million in July 2013.
Thirteen other companies, including Abu Dhabi-based Etisalat and Turkey’s Turkcell, have expressed interest in buying Dubai Holding’s 35 per cent stake in Tunisie Telecom, a government official said……………………………………….Full Article: Source

Posted on 19 August 2013 by VRS |  Email |Print

This comes amid a string of liquidity events for Singapore’s sovereign wealth fund, which has struck a couple of profitable investments in India but made a bunch of part or full exits with haircuts.
Singapore’s sovereign wealth fund Temasek is part-exiting its six-year-old investment in Bharti Airtel, its single biggest investment in India, at a loss. It is selling around one-third of its holding to the Asian telco Singapore Telecommunications………………………………………..Full Article: Source

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