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Sovereign Wealth Funds Briefing 02.Sep 2014

Posted on 02 September 2014 by VRS |  Email |Print

Russia is preparing to transfer the ownership of a $10 billion sovereign wealth fund to the central bank from a sanctioned state-development lender, according to two people with knowledge of the plan.
Russian Direct Investment Fund’s co-investors, which include sovereign funds in Europe and Asia, are concerned that sanctions may affect their investments in Russia if the state lender controls the assets, according to one of the people, who asked not to be identified because the information is private………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

Russia cannot spend more of the $83 billion parked in its National Wealth Fund (NWF), President Vladimir Putin said on Monday, after the government recently raised the cap on how much of the fund can be used for domestic investments. Spending pressure on the government has increased as a result of the Ukraine crisis, which has led several Russian companies to request state finance to compensate for the closure of western capital markets.
The NWF, a fiscal reserve financed from oil taxes, has become a prime target for lobbyists, notably since Russia has earmarked 60 percent of the Fund for internal investments, particularly infrastructure projects………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

Australia’s $94 billion sovereign wealth fund has promoted internally to fill the role of chief investment officer vacated by David Neal when he became managing director on August 4. The Future Fund is also likely to add two investment posts to its 40-strong team in the next few months.
New CIO Raphael Arndt was previously head of infrastructure and timberlands. He has responsibility for leading the investment team in developing the research, due diligence and selection and monitoring processes for assets and investment managers………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

Indian developer Brigade Enterprises and Singapore’s sovereign wealth fund GIC Pte Ltd have agreed to jointly invest 15 billion rupees ($248 million) in residential real estate projects in south India, the companies said. Brigade and GIC will invest in acquiring land and building homes and for mixed-use projects, the companies said in a statement on Monday.
Sovereign wealth funds and other long-term investors are eyeing opportunities in India’s real estate sector, as property prices continue to drop on the back of the slowest economic growth in a decade for the country………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

The Republic’s sovereign wealth fund, GIC, is investing in a new North Sea oil-and-gas exploration and production company, Siccar Point Energy Limited. Affiliates of heavyweights - Blue Water Energy and Blackstone Energy Partners - are pumping in an initial investment of up to US$500 million in the new firm, making it one of the largest ever private equity investments in North Sea oil.
The deal includes funding from GIC, which is investing alongside Blue Water Energy. Scotland-based Siccar Point Energy will participate across the full value chain, from exploration through to production………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

GIC, the Singapore sovereign wealth fund, is investing in Siccar Point Energy, a new North Sea-focused oil company based in Aberdeen, Scotland. Private equity funds Blue Water Energy and Blackstone Energy Partners are leading the investment of up to US$500 million (S$624 million). Siccar Point plans to participate across the full value chain, from exploration through to production. For a start, it will focus on opportunities in the UK Continental Shelf.
Chief Executive Officer Jonathan Roger said: “This is a great time to build a business in the North Sea for a well-capitalised and experienced team with a focused strategy. It is a period during which some of the largest upstream companies are cutting back on capital expenditures and consolidating their global asset portfolios. We believe that selective capital deployment and efficient operations can deliver attractive returns in this environment”………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

He may be the group president of Singapore sovereign wealth fund GIC, but Mr Lim Siong Guan rides the MRT to work. He alights at Raffles Place, then walks about 20 minutes to GIC’s office in Robinson Road for the exercise. If he needs a postage stamp or has any errand of a personal nature, he queues for it himself instead of bothering his secretary.
His yearly tour of GIC overseas offices since 2007 - four days around the world: Singapore, San Francisco, New York, London, Singapore; and another four days around Asia: Singapore, Mumbai, Tokyo, Seoul, Beijing, Shanghai, Singapore - is the stuff of corporate legend……………………………………….Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

Malaysia Airlines majority shareholder, Khazanah Nasional Berhad, has outlined its proposed 12-point restructuring plan aimed at developing a new, profitable, market-driven airline by 2017. The announcement came just a day after Malaysia Airlines posted a second-quarter net loss of MYR305.7million (USD95.1million) exacerbated by the MH17 and MH370 tragedies.
“At its core, the plan involves the creation of a new company (“NewCo”), which will house the “New MAS” and the migration of the right-sized workforce and work practices and contracts into the NewCo,” the Malaysian sovereign wealth fund said. “It also includes details of the strict conditionality attached to restructuring into current MAS and further Khazanah investment into NewCo, amounting to up to MYR6billion (USD976.67million) on a staggered and conditional basis over a three-year period.”……………………………………….Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

Growing allocations to alternatives and multiasset strategies have left the sovereign wealth funds and national pension plans that dominate Asia’s institutional investor landscape relying more on external money managers to manage their portfolios.
China Investment Corp. reported external managers overseeing 67.2% of the Beijing-based fund’s more than US$200 billion international portfolio as of Dec. 31, up from 63.8% the year before. Korea’s National Pension Service said 33.8% of its 442 trillion won (US$436 billion) investment portfolio was outsourced to external managers as of Dec. 31, up from 30.9% the year before………………………………………..Full Article: Source

Posted on 02 September 2014 by VRS |  Email |Print

The Kuwait Investment Authority is a Kuwaiti sovereign fund manager surpluses Kuwaiti state, primarily related to oil exports. Established in 1953, it remains today one of the 10 largest sovereign wealth fund in the world. ‘All over the 6 countries of the Gulf Cooperation Council’ GCC ‘, there is an objective belief that Morocco is now a single economic power in the Maghreb facing Africa.
Thus said Waleed Al Fehaid ‘Senior Investment Manager at Kuwait Investment Authority (KIA). (Translated)……………………………………….Full Article: Source

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