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Sovereign Wealth Funds Briefing 07.Jul 2014

Posted on 07 July 2014 by VRS |  Email |Print

Norway’s $890 billion sovereign wealth fund, the world’s biggest, is seeking top executives for a new real estate group that will invest almost $10 billion annually in properties over the next three years.
The fund, based in Oslo, is looking to hire new chief risk, operating and administrative officers for real estate, according to job postings on its website and in newspapers. The new executives will have “key roles in implementing a new organizational structure, and further develop our ability to invest and manage real estate assets,” the fund said………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

Hyde Park Barracks, historic home of the Household Cavalry, is being eyed by an Abu Dhabi sovereign wealth fund, the latest instance of Middle Eastern investors circling trophy assets in London. Property sources indicated the latest name to be associated with the site is Mubadala Development Company, a fund controlled by the government of Abu Dhabi.
The Ministry of Defence was initially approached by a raft of interested parties, including luxury property developer Christian Candy, in October last year, eager to secure the six-acre site………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

Akwa Ibom State remains the highest contributor to Sovereign Wealth Fund in the Country for 2013, it has been revealed. The Managing Director/Chief Executive of the Nigerian Sovereign Wealth Investment Authority (NSIA), Mr. Uche Orji, who stated this Friday when he and his team paid Governor Godswill Akpabio a courtesy visit at Governor’s Office, Uyo, hinted that Akwa Ibom Government contributed the highest to the fund particularly counterpart funding.
Mr. Orji said they were in the state to partner the state government and invest in the state as well as be a part of the uncommon transformation of Governor Akpabio, hinting that the authority invests in real estate, agriculture, power and seaport, among others………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

Temasek Holdings Pte’s assets probably grew at a slower pace in the year to March because of losses on some of its biggest financial assets.
Singapore’s state-owned investment company, which releases its annual review tomorrow, may have increased the value of its holdings by about 4 percent to a record S$224 billion ($180 billion) in the year to March 31, according to CIMB Research Pte and Institutional Investor’s Sovereign Wealth Center. That compares with an 8.6 percent gain in the previous year………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

Coal miner Bumi Resources confirmed the transfer of a 19 per cent stake in Kaltim Prima Coal (KPC) valued at US$950 million (RM3.03 billion) to China Investment Corporation as part of the debt-to-equity deal agreed to in October last year, Bumi said in a statement last Thursday.
The coal miner said it owes US$1.99 billion to the Chinese sovereign wealth fund in the form of a principal loan, deferred interest and make-whole costs. With the share transfer, its debt to CIC has been further reduced to US$1.04 billion………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

The appointment of outgoing CIMB Group chief executive officer Datuk Seri Nazir Razak to Khazanah Nasional Berhad’s board of directors has drawn fire from Pakatan Rakyat. PAS central committee member and Kuala Krai Member of Parliament Dr Hatta Ramli described the appointment, effective Sept 1, as a daring move that smacks of nepotism by Prime Minister Datuk Seri Najib Razak.
“Nazir may have the credentials, but this is a government investment arm that we are talking about. “I’m speechless that the Prime Minister’s brother has been appointed as a board member, as if no one else is capable of the job,” he said………………………………………..Full Article: Source

Posted on 07 July 2014 by VRS |  Email |Print

Luye Pharma Group, a Chinese drugmaker backed by Singapore’s sovereign wealth fund, and the company’s owners are poised to raise US$764 million (S$952 million) from a Hong Kong initial public offering (IPO), sources said.
The company plans to sell shares at HK$5.92 (S$0.952) apiece, the top end of a marketed range that started at HK$5.38, said the sources. Luye Pharma and existing investors, including Singapore’s GIC, offered 999.6 million shares in the sale, the firm’s IPO prospectus showed………………………………………..Full Article: Source

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