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Sovereign Wealth Funds Briefing 11.Nov 2013

Posted on 11 November 2013 by VRS |  Email |Print

China Investment Corporation is set to buy Chiswick Park, a west-London office development, from U.S. private equity group Blackstone for about 800 million pounds, the Financial Times reported, citing people familiar with the matter. The talks are at an advanced stage and a deal could be finalised before end of November, the FT said
If successful, the deal would be the second acquisition by CIC in the UK property market after it bought Deutsche Bank’s City of London headquarters last year, the newspaper added………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Asia-Pacific sovereign wealth funds lead the way in hedge fund investments, with 44% having an allocation to the asset class, against the 25% of their counterparts based elsewhere, indicates a new Preqin report. And such exposure is likely to rise in the coming years, according to SWFs in the region.
On average, 31% of these entities have an allocation to hedge funds, while 54% do not, according to the data provider, which surveyed 72 sovereigns globally for its 2014 Sovereign Wealth Fund Review………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Khazanah Nasional Bhd and Singapore’s Temasek Holdings Pte Ltd are jointly developing posh residential and commercial projects in the island state with a gross development value (GDV) of RM10.2 billion.
The integrated real estate venture named DUO, is undertaken by M+S Pte Ltd, a joint venture (JV) between both Khazanah, Malaysia strategic investment fund, and Temasek, Singapore’s state-owned investment arm. Under the JV formed in June 2011, Khazanah owns a 60% stake while Temasek has 40%………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Singapore’s state investor Temasek Holdings and China’s private equity firm Hopu bought a USD213 million stake in Yashili International Holdings Ltd, together with three other investors. Yashili’s parent company China Mengniu Co Ltd sold some its shares to comply with the requirements of Hong Kong listing.
Temasek, Hopu, and the three other investors agreed to purchase 471.13 million of Yashili’s shares from the dairy company for HKD3.5 per share. The total deal was priced at HKD1.65 billion or USD213 million. This was according to a securities filing on Monday, said a report………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Kuwait Investment Authority, the oldest and one of the largest sovereign wealth funds in the world, is likely to set up an India office to promote investments in the wake of reforms in the FDI norms and the government’s ambitious disinvestment programme.
“The Kuwaiti side agreed to consider the Indian side’s suggestion to open an office of Kuwait Investment Authority in India,” a joint statement issued by the two governments said at the end of the bilateral visit of the Kuwait’s prime minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah. Sheikh Jaber’s four-day visit ended on Sunday………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat)’s transparency score has been maintained following the research undertaken by Linaburg-Maduell Transparency Index issued by the Sovereign Wealth Funds Institute (SWFI).
Mumtalakat maintained its score of nine out of a possible 10 in the index, which makes the company well placed in the top tier of its global peers, said a press release………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

A Qatari sovereign wealth fund has been identified as one of a number of backers to buy into former mobile powerhouse BlackBerry. The investment was revealed in an SEC filing made by BlackBerry on Friday November 8.
Qatar Holdings LLC joined a group of other investors led by Fairfax Holdings (the company which earlier wanted to take BlackBerry private before that deal collapsed) to inject $US1 billion into the company………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Parliament would decide how the country uses gas revenues through a Sovereign Wealth Fund, Deputy Minister for Energy and Minerals, Mr George Simbachawene has said. He said in Parliament that the august House would prioritise where the fund should concentrate in terms of development projects.
He also said the government has plans to give Tanzania Petroleum Development Corporation (TPDC) two wells in the Indian Ocean so that it also fully gets involved in exploration for gas and oil………………………………………..Full Article: Source

Posted on 11 November 2013 by VRS |  Email |Print

Norway’s new government presented a revised budget that will raise spending of the nation’s oil wealth to cover tax cuts and boost infrastructure and education. The government will use 2.9 percent, or 139 billion kroner ($23 billion), of its sovereign wealth fund to plug deficits in 2014. That’s 3.9 billion kroner more than the ousted Labor-led coalition proposed last month.
The use of oil money will amount to 5.7 percent of trend mainland gross domestic product, up from an estimated 5.2 percent this year………………………………………..Full Article: Source

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