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Sovereign Wealth Funds Briefing 25.Nov 2013

Posted on 25 November 2013 by VRS |  Email |Print

A group of 10 investors, including Norway’s sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday.
Cinda, one of China’s four bad debt managers, is seeking to raise $2.5 billion and the offer has attracted interest from distressed debt investors, hedge funds to China’s insurance giants. Together, the so-called cornerstone investors would buy about 45 percent of the initial public offering (IPO), which is set to be Hong Kong’s biggest this year………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

The manager of Norway’s sovereign-wealth fund, the world’s largest, and a unit of Axa Real Estate Investment Managers plan to buy Munich’s SZ Tower. A Norges Bank Investment Management unit and Axa Real Estate will “indirectly acquire joint control” of the 28-story building, according to a filing to the European Union’s executive arm yesterday. The property includes three lower levels, an underground garage and a six-floor campus.
Prime Office REIT-AG agreed to sell the building for 164.1 million euros ($220 million), the Munich-based company said today in a statement. Prime Office didn’t identify the buyers of the building, which is currently the headquarters of publishing company Sueddeutscher Verlag………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

The world’s largest sovereign wealth fund’s investment manager has explored the issues with investing in infrastructure. Norges Bank Investment Management (NBIM) has described the biggest challenges it faces when tackling the opportunity of infrastructure investing.
In a discussion paper, the investment manager for Norway’s Government Pension Fund-Global said the diverse nature of infrastructure assets caused problems with benchmarking performance and deciding where to put it in the portfolio………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

Zimbabwe’s planned sovereign wealth fund may get as much as a quarter of mining royalties and the same share of “special dividends” on state mineral and metal sales. Parliament will also be able to appropriate money to benefit the fund.
A 16-member board will decide on the fund’s activities, allowing it to make withdrawals, primarily to pay for infrastructure developments, according to a draft of the Sovereign Wealth Fund of Zimbabwe Act obtained by Bloomberg News………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

Qatar National Bank, part owned by the Gulf state’s sovereign wealth fund, has given Tunisia a $500 million deposit to support its foreign currency reserves, a senior official in Tunisia’s central bank told Reuters on Saturday.
The deposit was made as Tunisia’s Islamist-led government faces pressure from lenders such as the World Bank and the International Monetary Fund to make reforms to trim its budget deficit and end a political crisis………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC and business space solutions provider Ascendas Pte Ltd will jointly invest around Rs 3,000 crore towards developing commercial real estate in India.
The money would be invested through Ascendas India Growth Programme (AIGP), in which GIC is a principal investor. The extent of GIC’s investments in AIGP has not been disclosed though………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

Australian real estate trust Commonwealth Property Office Fund (CPA) has terminated a deal with Dexus Property Group and a Canadian pension fund, after receiving a higher takeover offer from property investor The GPT Group.
The A$2.99 billion ($2.81 billion) takeover bid from GPT, whose biggest shareholder is Singaporean sovereign wealth fund GIC Private Limited, has gate-crashed the deal with Dexus and Canada Pension Plan Investment, as foreign investors bet on the upward trend in Australia’s office property sector………………………………………..Full Article: Source

Posted on 25 November 2013 by VRS |  Email |Print

A major sovereign wealth fund and Hillwood, a real estate investment and development company owned by Ross Perot , Jr., announced the initial closing of a new fund to make direct and indirect investments in industrial real estate, principally large warehouses, across North America.
According to a release, Hillwood will have responsibilities for acquisitions, developments, and joint ventures with other developers. With an expected total equity amount of $400 million - over half of which has been identified and committed - the partnership is expected to deploy more than $1 billion over the next three to four years. The partnership represents the second such venture between Hillwood and the sovereign wealth fund………………………………………..Full Article: Source

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