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Sovereign Wealth Funds Briefing 10.Apr 2014

Posted on 10 April 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC will buy a Tokyo property from US investment fund Lone Star Funds for about 134 billion yen (S$1.6 billion), the highest price since Japan’s real estate market recovery accelerated last year, people with direct knowledge of the sale told Reuters.
Lone Star had put up the property, called Meguro Gajoen, for auction late last year for at least 96 billion yen. The property comprises a complex of office towers, with the Japanese unit of Amazon.com its main tenant. GIC was chosen from three final bidders, which included a consortium of New York-based real estate investment firm Aetos Capital Real Estate and China’s sovereign fund China Investment Corp, two of the people said………………………………………..Full Article: Source

Posted on 10 April 2014 by VRS |  Email |Print

Singapore investment company Temasek has launched a new co-investment vehicle, Astrea II, which has broadly diversified holdings in 36 private equity funds.This is the latest of Temasek’s continuing efforts to develop co-investment platforms where diversified portfolios of assets can be made available to a broader base of investors, including retail investors in the long term.
It is the single largest investor in Astrea II at 38 per cent. Mr Dilhan Pillay Sandrasegara, Head of Enterprise Development Group in Temasek, said, “Temasek continues to be an active investor in high quality private equity or PE funds globally. These investments have created value for us in the form of direct returns, as well as opportunities for us to make further direct investments alongside the PE fund managers.”……………………………………….Full Article: Source

Posted on 10 April 2014 by VRS |  Email |Print

Temasek Holdings is securitising more of its investments into a special-purpose vehicle to reach a broader base of investors, including retail investors, over the longer term. The Singapore investment firm has launched Astrea II, a co-investment vehicle with broadly diversified holdings in 36 private equity funds.
The name refers to Astrea, the first special-purpose vehicle through which it securitised some of its investments in private equity and venture capital funds in 2006………………………………………..Full Article: Source

Posted on 10 April 2014 by VRS |  Email |Print

Beijing-based private medical services provider iKang Guobin Healthcare Group has raised $153 million by offering 10.9 million shares at $14 per share on the NASDAQ. NewQuest Capital Partners and Singapore’s GIC Private Ltd. has partially exited from iKang.
At the same time, Best Investment Corporation, a subsidiary of China’s sovereign wealth fund China Investment Corporation, is to pay $40 million for a stake of about 4.6% of iKang at $13.00 per share, according to a previous filing. Last April, GIC Private and Goldman Sachs jointly committed $100 million to iKang. Goldman Sachs is not selling in the IPO, but its stake will be diluted from 13% to 10.8%………………………………………..Full Article: Source

Posted on 10 April 2014 by VRS |  Email |Print

Angola’s $5 billion sovereign wealth fund, sub-Saharan Africa’s second-biggest, has this year made its first investments by buying fixed income securities but is yet to start financing infrastructure projects, its chairman said.
Africa’s biggest oil producing nation after Nigeria set up the FSDEA fund in 2012 to invest foreign exchange reserves and finance economic diversification and infrastructure but it has been criticized for making a slow start………………………………………..Full Article: Source

Posted on 10 April 2014 by VRS |  Email |Print

Norway will wait to see whether property investments by its $850bn (€616bn) sovereign wealth fund pay off before considering new asset classes including infrastructure and private equity. “Whether we do it next year or the year after, that hasn’t been decided,” Paal Bjoernestad, state secretary in charge of the fund at the Finance Ministry, said. “We will come back to it – it’s not off the table.”
Prime Minister Erna Solberg’s Conservative-led government, in power since October, has backed away from pre-election talk of restructuring the fund and is now signaling any changes to the world’s largest sovereign investor are likely to be slow………………………………………..Full Article: Source

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