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Sovereign Wealth Funds Briefing 10.Jul 2014

Posted on 10 July 2014 by VRS |  Email |Print

The Qatar Investment Authority is to sell down a third of its stake in the London Stock Exchange Group ahead of the bourse’s $1.6bn rights issue to help purchase Frank Russell, the US index compiler.
The sovereign wealth fund has instructed Bank of America Merrill Lynch and Citigroup to sell a near 5 per cent stake in an accelerated bookbuild, said two people familiar with the situation. The QIA is expected to retain a 10 per cent stake in the LSE, with the deal announced on Thursday morning………………………………………..Full Article: Source

Posted on 10 July 2014 by VRS |  Email |Print

Abu Dhabi Investment Authority, one of the world’s largest sovereign-wealth funds, is said to be considering selling as much as $2 billion in private-equity fund stakes.
ADIA, which invests on behalf of the government of Abu Dhabi, hired Cogent Partners to advise on the sale, two people with knowledge of the deal said. The portfolio consists mostly of positions in buyout funds, said the people, who asked not to be identified because the information is private………………………………………..Full Article: Source

Posted on 10 July 2014 by VRS |  Email |Print

The chief executive of Bahrain’s sovereign wealth fund, Mumtalakat Holding Company, has confirmed that while there were no talks with Honda about buying its stake in U.K. automaker McLaren, a sale of the luxury sports car group was still an option.
“Our stake in McLaren, you know, we are happy to have it there. If there is a business opportunity for somebody to buy from us we look at it commercially, but there is no talk at the moment directly with them (Honda) no,” Mahmood Al Kooheji said………………………………………..Full Article: Source

Posted on 10 July 2014 by VRS |  Email |Print

Libya has appointed a new acting chairman to oversee its $66bn sovereign wealth fund, but indicated that there would be no “change of direction” at the organisation.
The Libyan Investment Authority’s board of trustees named Abdurahman Benyezza as acting chairman and chief executive of the fund, which was set up in 2006 by Muammer Gaddafi, the former Libyan dictator, to invest the country’s accumulating oil wealth………………………………………..Full Article: Source

Posted on 10 July 2014 by VRS |  Email |Print

Temasek Holdings Pte is increasing investments in consumer, technology and health-care companies as Singapore’s state-investment firm becomes less reliant on financial assets.
The value of its holdings increased 3.7 percent to a record S$223 billion ($179 billion) in the 12 months to March 31 from the previous year, while total shareholder return, including dividends, shrunk to 1.5 percent from 8.9 percent, it said in its annual review yesterday. The value of its holdings rose 8.6 percent in the year to March 2013………………………………………..Full Article: Source

Posted on 10 July 2014 by VRS |  Email |Print

The recent announcement that the Alberta Heritage Savings Trust Fund earned $2.1 billion in 2013 is great news, but don’t break out the champagne yet. While these record earnings will help relieve Alberta’s current budget deficits, they are almost meaningless in the long term — which is, or at least was, the whole point of having a heritage fund.
Why? Because under current government policy, virtually all of the fund’s realized annual earnings are transferred to general revenue for in-year spending. This means the fund’s value cannot grow as the market goes up………………………………………..Full Article: Source

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