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Sovereign Wealth Funds Briefing 13.Nov 2013

Posted on 13 November 2013 by VRS |  Email |Print

Kuwait is interested in investing in London real estate projects after focusing on completed properties for several years, Boris Johnson, the city’s mayor, said after meeting with members of the Kuwait Investment Authority.
“The KIA wants to move forward with fresh developments that I think they had moved away from over the last few years, and that’s going to be good news for London,” Johnson, 49, said today in Kuwait City………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

The new head of Angola’s $5 billion sovereign wealth fund (FSDEA) said on Tuesday his appointment by his father, President Jose Eduardo dos Santos, was not part of a campaign to groom him for the presidency.
Jose Filomeno dos Santos, who was appointed to head the fund’s board in June, said he had long been in the financial sector, dismissing speculation that his 71-year-old father might try to forge a dynasty in Africa’s second biggest oil producer………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

Mubadala and Tata are injecting an additional €190 million ($253 million) into Italian airframer Piaggio Aero, increasing their combined stakes to 85.5%. The move comes as the Genoa-based company switches its focus increasingly towards the special missions market and away from the flat-lining business aircraft sector.
Earlier this year Piaggio Aero unveiled an unmanned intelligence, surveillance and reconnaissance version of its flagship P180 Avanti II twin-pusher called the P.1HH HammerHead………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

A major sovereign wealth fund and Ross Perot Jr.’s Dallas-based Hillwood Investments announced Tuesday the initial closing of their new fund to invest in $1 billion of industrial real estate. The real estate targeted for investment will primarily be large warehouses in North America. Hillwood will acquire, develop and form joint ventures with other developers.
“The new fund provides the investment flexibility to target the highest risk-adjusted returns available across the industrial warehouse asset class, without being restricted by a narrow investment target,” said Perot, chairman of Hillwood, in a written statement………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

DBS Group Holdings Ltd., Singapore’s largest lender, has sold its remaining stake in Bank of the Philippine Islands (BPI), the Philippines’ third-largest bank by assets. Ayala Corporation and Singapore’s sovereign wealth fund GIC Pte bought DBS’ 9.9% stake in BPI for P29.6 billion, Ayala told the Philippine Stock Exchange on Tuesday, November 12.
DBS is exiting the bank after 14 years to “focus on its core markets,” including Singapore, Hong Kong, China, Taiwan, India and Indonesia………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

Ayala Corp. and a Singapore’s sovereign wealth fund have bought out DBS Bank Ltd.’s remaining stake in Bank of the Philippine Islands (BPI). Ayala, together with GIC Private Ltd., paid P29.6 billion for an Ayala DBS Holdings, Inc. stake equivalent to a 9.9% indirect interest in BPI. Ayala increased its ownership of the bank to 48.3%, while GIC took 5.6%.
“DBS has been a strategic investor in BPI since 1999. This divestment is in line with DBS’ focus on its core markets,” DBS chief executive Piyush Gupta was quoted in the statement as saying………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

It’s no secret resources such as oil, potash and uranium are making significant money for Saskatchewan. Now, it may be time to invest.
“We’re very grateful for the natrual resource strength of our economy, but for the most part, they are non-renewable.” Premier Brad Wall said. “Once we sell them, they’re gone.”……………………………………….Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) is to allocate AZN 1.955bn for implementation of different projects and programs in 2014. According to 1news.az, the statement came from Minister of Finance of the country Samir Sharifov speaking at the plenary session of Milli Majlis of Azerbaijan, 1news.az reports.
He said that of these funds, AZN 1.301bn will be used for implementation of oil projects involving the State Oil Company of Azerbaijan………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

You would call them the smartest guys in the room, had Enron not ruined the term for at least a generation. The big US endowment funds, those of Yale University and Harvard University in particular, are considered the benchmarks for patient, smart, long-term investment, reflecting the brainpower of the institutions they fund.
A look at the world’s sovereign wealth funds shows that they are so far keeping the faith with private equity, but are showing a clearer delineation between different types of alternative assets, with infrastructure very much in favour, and hedge funds very much not………………………………………..Full Article: Source

Posted on 13 November 2013 by VRS |  Email |Print

It is a question that has long been asked in America, particularly after the handling of firms after the 2008 crisis, and most pressingly after 2010’s Citizen’s United Supreme Court ruling: are corporations people? The answer, for innumerable reasons, seems to me to be a resounding no. But that is beside the point, for I believe there is another question that soon must be debated around the world, particularly with the growth of state-owned investment vehicles known as sovereign wealth funds. Corporations are certainly not people – but can states be corporations?
A cash-laden Kuwait created the first national sovereign wealth fund (SWF) in 1953. Kuwait was awash with money from their oil productions, and, seeking to invest rather hold unprofitable bills and bonds, founded the Kuwait Investment Authority. Today, the fund holds assets valued at $386 billion………………………………………..Full Article: Source

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