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Sovereign Wealth Funds Briefing 16.Sep 2013

Posted on 16 September 2013 by VRS |  Email |Print

The Russian Direct Investment Fund, the sovereign wealth fund established in 2011 to make equity investments in the Russian Federation, announced this week that it had teamed up with Abu-Dhabi’s department of finance to create a joint venture to invest in Russian infrastructure.
The $5 billion contribution from the Abu Dhabi department of finance is the largest investment from the Middle East ever made into Russia, according to Kirill Dmitriev, chief executive of the RDIF, who spoke to Private Equity News, sister publication of Financial News, about the joint venture………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Singapore’s sovereign wealth fund Temasek Holdings says it has named Dr. Wu Yibing as its head for China, effect from 1 October 2013. Wu, 46, is currently chairman and CEO of Goldstone Investment Co. Ltd, the direct investment arm of China’s CITIC Securities. He is concurrently the president of CITIC Private Equity Funds Management.
He has a wide range of investment experience in the financial, energy, consumer and technology sectors. Wu will succeed Ding Wei, who will take on the appointment as advisory senior director for China………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Malaysia’s state investment fund 1Malaysia Development Bhd (1MDB) has boosted the target size of its planned initial public offering (IPO) of its energy assets to around $3 billion, Reuters reported on September 13, as the fund looks to repay debt incurred in a shopping spree for power plants. This would make the IPO one of Southeast Asia’s largest public stock offerings so far.
The public listing of 1MDB, which is chaired by Malaysia’s Prime Minister Najib Razak himself, has been delayed several times and originally sought to raise $1 billion to $2 billion. However, 1MDB is now expected to invite banks in October to formally pitch their services, and ready the fund for the $3 billion IPO by the first half of 2014………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

A consortium led by the $60 billion AustralianSuper Fund and the Kuwait Investment Authority has been forced to put on hold a planned takeover of Sydney Airport as the company’s shares strengthen with rising global demand for safe infrastructure assets and a proposal to lift its foreign ownership threshold.
The AustralianSuper board is understood to have begun discussions with the Kuwait Investment Authority and other Middle Eastern sovereign wealth funds and Canadian pension funds last year. While the AustralianSuper consortium was very interested when the airport’s shares were trading at around $3 earlier this year, the stock’s 25 per cent rise since a low of $3.05 in mid-January makes any deal very difficult in the short term. One Sydney Airport investor said shareholders would be looking for more than $4 a share………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Managing Director of the Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji, has said that the authority was looking at investing in Monoline insurance, securities, health and aviation sectors of the economy.
He also explained that each of the components which makes up the Sovereign Wealth Fund (SWF), including Stabilisation, Infrastructure and Future Generation Funds, would have to be operated profitably for five years before returns by way of dividends could be made into the federation account for the three tiers of government to share………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Mr Uche Orji, the Managing Director of the Nigerian Sovereign Investment Authority (NSIA), has said that the governing council for the Sovereign Wealth Fund (SWF) will soon be constituted.
Orji said this in Abuja on Friday when he spoke as the guest speaker at the Learning Series workshop of the Securities and Exchange Commission (SEC). The workshop had as its theme, “Sovereign Wealth Fund and the Nigerian Capital Market… joining up the dots’’………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) has bought 31 Accor-branded hotels across major cities in Australia. ADIA’s acquisition of Sydney-based Tourism Asset Holdings Limited (TAHL), Australia’s largest owner of hotels, for about AUD$800m ($743m) will see the properties continue to be managed by the Paris-based operator.
“We chose to run a discreet, targeted sale process and we were very pleased with the response we received, which is a testament to the strength and performance of the underlying portfolio,” said TAHL CEO Matthew Eady………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

The issue of Nigeria’s $1billion (it actually took off with $850m) Sovereign Wealth Fund (SWF) has suddenly become touchy; so touchy that “good politicians” now keep their comfortable distance. Apart from the $1billion seed money, states are meant to make regular monetary contributions to the scheme, the continuance of which now seems to be threatened by disagreement among governors.
The Nigeria Sovereign Investment Authority (NSIA) is mandated by law to manage the piped-in income from surplus oil proceeds. Set up by the Nigeria Sovereign Investment Authority Act that was signed in May 2011, the wealth fund commenced operations in October 2012 and intends to invest the savings gained on the difference between budgeted and actual market prices for oil to earn returns that would benefit future generations………………………………………..Full Article: Source

Posted on 16 September 2013 by VRS |  Email |Print

Shareholders of Deutsche Wohnen AG, which include BlackRock Inc. and Norway’s sovereign-wealth fund, were advised to approve the acquisition of GSW Immobilien AG, documents obtained by Bloomberg show.
Institutional Shareholder Services Inc., a proxy advisory firm, advised voting in favor of a capital increase to finance the purchase, which would create the second-largest owner of German homes. BlackRock holds about 6.5 percent of Deutsche Wohnen shares, while Norges Bank owns about 4.5 percent, according to data compiled by Bloomberg………………………………………..Full Article: Source

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