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Sovereign Wealth Funds Briefing 23.Oct 2013

Posted on 23 October 2013 by VRS |  Email |Print

Abu Dhabi Investment Authority made public an arbitration ruling against it in its claim against Citigroup Inc.over a $7.5 billion investment in the bank in 2007, after a judge ordered the decision made public.
U.S. District Judge Kevin Castel in Manhattan ordered a redacted version of the 84-page decision made public, over the objections of Abu Dhabi Investment Authority, a sovereign wealth fund also known as ADIA. The fund complied yesterday. Citigroup announced the result of the arbitration in November 2011………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

Mubadala Development Co. hired Verno Capital to advise on its co-investment with the Russian Direct Investment Fund, said Dimitri Kryukov, the fund’s founder. The advisory mandate is related to a $2 billion investment fund, which Mubadala, based in Abu Dhabi, set up earlier this year with the RDIF, Kryukov said in an interview in Moscow.
The Russian government established the RDIF in 2011 to lure foreign investment and wean the world’s largest energy supplier of its dependency on commodity exports………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

The Lord Mayor of London Alderman Roger Gifford, Head of London’s global financial district, said Kuwait Investment Authority (KIA), the country’s leading fund, is the first global sovereign wealth fund of strategic planning and success in selection of investment opportunities.
In an exclusive interview with KUNA, Lord Gifford said his two-day visit to the country was his second, during which he met with a number of Kuwaiti officials to follow up on issues of common interests, adding that it preceded end of his term as mayor………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

Singapore state investor Temasek Holdings has sold its entire direct stake in property firm Keppel Reit (K-REIT) for around S$125 million ($101.04 million), the Business Times reported.
Temasek’s share sale works out to be a stake of 3.74 percent in the property firm which it had received as part of a dividend distribution from Keppel Corp, the paper said citing sources………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

Blackstone Group LP and GIC Pte, Singapore’s sovereign wealth fund, agreed to buy a majority stake in Goldman Sachs Group Inc’s European insurance business.
Blackstone, the world’s biggest private-equity firm, and GIC will each buy 28.5 percent of the shares in Rothesay Life Ltd., a London-based insurer run by Goldman Sachs partner Addy Loudiadis, Goldman Sachs said in a statement today. Massachusetts Mutual Life Insurance Co. will also buy 7 percent, and Goldman will retain 36 percent. The price wasn’t disclosed………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

The Selangor state government is planning to set up a RM1 billion sovereign wealth fund as a way to develop its major urban centres like Petaling Jaya and Klang into “worldclass” cities. The Selangor Urban Development Fund will raise part of the money from private sector businesses in real estate and infrastructure development by leveraging assets like stateowned land.
The fund will be parked under the state’s Mentri Besar Inc. Selangor Mentri Besar Tan Sri Khalid Ibrahim revealed the plan in Johor while presenting a paper at the Future of Urban Living Conference in Iskandar………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

Norway’s new government is mulling over the prospect of investing some of its sovereign wealth fund in renewable energy projects across the world.
The government, to be led by Conservative party leader Erna Solberg, is set to establish an investment programme for the Government Pension Fund of Norway with the purpose of backing sustainable projects and companies………………………………………..Full Article: Source

Posted on 23 October 2013 by VRS |  Email |Print

Alaska’s Permanent Fund continued to swell in the first three months of the fiscal year, gaining $2.2 billion to reach a total of $47 billion, according to the corporation that manages Alaska’s biggest account.
The fund, the piggy bank that puts money into Alaskans’ pockets each fall, is invested conservatively and returned 4.6 percent during the 90-day stretch starting in July, said a statement from the Alaska Permanent Fund Corp. For all of fiscal year 2013, the fund increased in value $4.3 billion………………………………………..Full Article: Source

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