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Sovereign Wealth Funds Briefing 17.Jan 2014

Posted on 17 January 2014 by VRS |  Email |Print

The National Pensions Reserve Fund (NPRF) is expected to today unveil a significant investment by the China Investment Corporation (CIC) in a new technology fund here. The investment is expected to be about €70 million.
The Minister for Finance, Michael Noonan, and the Minister for Foreign Affairs, Eamonn Gilmore, will attend a launch for the fund in Dublin this morning………………………………………..Full Article: Source

Posted on 17 January 2014 by VRS |  Email |Print

Korea Investment Corp (KIC) will decide whether to sell its around $1 billion stake in Bank of America within a month, after watching its value fall by half since 2008, Korean media reported on Thursday.
The sovereign fund, which manages some $66 billion in assets, held 0.69 percent of the U.S. bank as of September 2013 through its $2 billion investment in Merrill Lynch in 2008, before Merrill Lynch merged with BoA………………………………………..Full Article: Source

Posted on 17 January 2014 by VRS |  Email |Print

Qatari sovereign investment fund QIA is negotiating to buy Moscow residential community Pokrovsky Hills from a subsidiary of Goldman Sachs, a news report said Thursday. Discussions between QIA and Whitehall, Goldman’s real estate investment fund, are currently in the advanced stage, even though no final deal has been concluded, Vedomosti reported.
Two sources close to both sides of the talks have confirmed the information. Spokespeople for Goldman Sachs, real estate consultancy Cushman & Wakefield — which handles rentals at Pokrovsky Hills on behalf of the investment bank — and the property management firm Hines have declined to comment. QIA did not respond to an inquiry concerning the pending deal………………………………………..Full Article: Source

Posted on 17 January 2014 by VRS |  Email |Print

A key mergers and acquisitions executive at Qatar Holding, instrumental in some of the fund’s most high-profile deals in recent years, has left the firm for a government-related role, banking and industry sources said. Qatar Holding is the direct investment arm of Qatar Investment Authority (QIA).
Aziz Aluthman Fakhroo, a Qatari national and a director at the fund’s mergers and acquisitions team, left late last year as part of changes at one of the world’s most active sovereign wealth funds, the sources said, speaking on condition of anonymity………………………………………..Full Article: Source

Posted on 17 January 2014 by VRS |  Email |Print

Time Warner has sold $1.3 billion of commercial real estate to Related Companies – an entity owned by the Abu Dhabi Investment Authority and GIC – in a sell and lease back arrangement. Time Warner will continue to lease 1.1 million square feet of office space in the Time Warner Center until 2019.
The prestigious address in Columbus Circle, Manhattan, New York will no longer play host to the company’s headquarters, which will move to Hudson Yards………………………………………..Full Article: Source

Posted on 17 January 2014 by VRS |  Email |Print

Norges Bank Investment Management and MetLife purchased a 12-storey office at 555 12th Street in north-west Washington, according to a statement. The Norway fund, which oversees about $830bn, also purchased 47.5pc of a San Francisco property at 425 Market Street from the insurer.
The gross value of the two buildings is about $1bn, according to a separate statement from the Norwegian fund. MetLife and Norges Bank began the joint venture last month with a bet on One Financial Centre, a 46-storey Boston office tower………………………………………..Full Article: Source

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