Sat, Oct 25, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 12.Mar 2014

Posted on 12 March 2014 by VRS |  Email |Print

Norway’s $840bn oil fund voices concerns over F1 owner Bernie Eccleston’s upcoming corruption trial. Norway’s $840bn oil fund, the world’s largest sovereign wealth fund, has admitted that investing in Bernie Ecclestone’s Formula One Group was a mistake.
In May, the fund paid $1.6bn for a 21.3pc share of the group in a consortium with two other funds, BlackRock and Waddell & Reed Financial. “Yes, we have made a mistake,” fund director Yngve Slyngstad told the business daily Dagens Naeringsliv, suggesting the fund may try to offload its stake………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

The Norwegian sovereign wealth fund could decide to sell on its F1 stake if the sport cannot free itself from accusations of corruption. Norway’s sovereign wealth fund has confirmed that it will look to sell its stake in F1 should both its own problems and those affecting the sport in general not be addressed.
Questions were raised in the national parliament last week asking whether the fund had violated its remit by joining US-based investors BlackRock and Waddell & Reed in acquiring a $1.6bn stake in F1 last May. Although the purchase appeared to be in good faith at the time, F1’s decision to cancel its proposed stock market flotation put the fund’s holding in jeopardy as it is only permitted to acquire a stake in an unlisted company if it plans an initial public offering………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

Movements of Norway’s Oil Fund (GPFG) continues to grab attention from economic, environmental and political side. FT and Epoch Times questions the fund’s critical decision on coal mining investments last month.
The two governing parties of Norway have agreed to set up an expert group to investigate whether the oil fund should ban on investments in fossil fuels last month………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

The Korean sovereign wealth fund has appointed one of the country’s central bankers to take over the role of CIO from Lee Dong-ik, who resigned in January. Choo Heung-Sik has been placed in charge of the Korea Investment Corporation’s (KIC) $74 billion in assets, AsianInvestor reported.
He had been head of reserves management at the Bank of Korea, after moving from holding the bank’s CIO role, before resigning last month to apply for the CIO position at the fund………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

With no strategic pool of funds available for the oil sector, the Ministry of Petroleum and Natural Gas has proposed turning the Oil Industry Development Board (OIDB) into a financial institution for the petroleum sector similar to Power Finance Corporation for power sector. To provide funds for OIDB, it has also asked for a share in the oil cess.
The proposed sovereign fund is meant to provide insurance cover to Indian refineries using Iranian crude oil. OIDB is set to contribute around Rs 1,000 crore of this insurance pool, while the remaining amount would be contributed by public sector insurers. “For the insurance pool, we have already circulated a Cabinet note though a decision would only be taken after the new government comes to power,” said the official………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

Real estate player Unitech plans to raise Rs 1000 crore in the next few months from sale of non-core assets for repayment of its debt. According to people close to the development, the company has already sold 11 acres of non-coreland parcels in Bangalore and Mysore for about Rs 130 crore.
Unitech Corporate Parks, a Unitech group firm listed in London, has been negotiating with private equity firm Blackstone and Singapore’s sovereign wealth fund GI Cover the past few months to sell its IT SEZ in Gurgaon for about Rs 2,700crore………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

Sovereign wealth funds are key participants around the world in cross-border real estate investment. To date, the China Investment Corporation (CIC) has been the mainland’s most active sovereign fund cross-border real estate investor.
In the new phase of outbound real estate investment, China’s State Administration of Foreign Exchange (SAFE) and the National Social Security Fund (NSSF) will likely join the CIC as active players and may bring to the table substantial capital to deploy into global real estate and real estate funds………………………………………..Full Article: Source

Posted on 12 March 2014 by VRS |  Email |Print

IHH Healthcare Bhd, Asia’s biggest hospital operator, is weighing a A$5 billion (RM14.8 billion) bid for Healthscope Ltd, the Australian healthcare provider owned by TPG Capital and Carlyle Group LP, said two people familiar with the matter.
IHH, 44 per cent owned by sovereign wealth fund Khazanah Nasional Bhd, has been expanding through acquisitions to benefit from rising demand for medical services in Asia and Europe……………………………………….Full Article: Source

See more articles in the archive

banner
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031