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Sovereign Wealth Funds Briefing - Archive | June, 2012

Sovereign funds prominent investors in infrastructure assets

Posted on 22 June 2012 by VRS  |  Email |Print

A report prepared by KFH-Research regarding the performance and status of global infrastructure funds market, mentioned that despite the recent poor performance of subscriptions and money gathering, infrastructure funds are expected to attract more investors and to continue achieving reasonable growth; especially after the growing trend to spend funds on in infrastructure projects and the participation of the private sector in those projects.
In addition, the report noted that infrastructure funds began to recover starting from 2010, where total collected money reached $32 billion, before dropping to $16 billion in 2011………………………………………..Full Article: Source

Abu Dhabi’s Mubadala eyes more Brazil business

Posted on 22 June 2012 by VRS  |  Email |Print

Abu Dhabi’s Mubadala Development Company is looking to increase its investments in Brazil, three months after it struck a US$2bn deal with Brazilian tycoon Eike Batista, it was reported on Wednesday.
The Abu Dhabi-backed investment and development is eying large Brazilian companies in order to set up partnerships in the renewable-energy sector, director of a Mubadala unit told the Wall Street Journal newspaper………………………………………..Full Article: Source

Batista said to sell 49pct of AUX to Qatar for $2 bln

Posted on 22 June 2012 by VRS  |  Email |Print

Billionaire Eike Batista, Brazil’s richest man, is selling a 49 percent stake in his AUX gold business to Qatar Investment Fund Plc (QIF) for about $2 billion, according to a person with knowledge of the transaction.
“Sovereign wealth funds are interested in investing in real assets” such as gold, the 55-year-old mining and energy magnate, whose investments range from iron ore to coal, told reporters on Feb. 15. AUX paid C$1.08 billion ($1.05 billion) last year to buy Ventana Gold Corp………………………………………..Full Article: Source

Mumtalakat backs new educational programme

Posted on 22 June 2012 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company, the investment arm of the kingdom, has announced its support of a new educational programme organised by the French Embassy and the Education Ministry.
The initiative will see 14 Bahraini students, accompanied by two of their teachers, travel to France for two weeks in the summer to take part in an intensive French language course………………………………………..Full Article: Source

Temasek unveils portfolio thinking, lauds China

Posted on 22 June 2012 by VRS  |  Email |Print

Singapore sovereign fund Temasek sees political and regulatory ambiguity in the US and argues that investors underestimate opportunities in China, where urbanisation is really just beginning.
President Gregory Curl, speaking at an FT conference in Hong Kong yesterday, concedes that he expects Temasek’s returns in this volatile period to be between a half and two-thirds of what they have been historically………………………………………..Full Article: Source

Temasek expects smaller industry returns amid tough years

Posted on 22 June 2012 by VRS  |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, expects smaller returns for the asset management industry on anticipation the outlook will be difficult for years, said Gregory Curl, president and head of the Americas.
Investment returns will be lower compared with historical gains, Curl, 63, said at an industry conference in Hong Kong. The U.S. represents considerable risks, he added. Temasek managed S$193 billion ($152 billion) as of March 2011………………………………………..Full Article: Source

Temasek expects lower investment returns

Posted on 22 June 2012 by VRS  |  Email |Print

Singapore investment company Temasek Holdings expects smaller returns for the asset management industry on anticipation that the outlook will be difficult for years, said Mr Gregory Curl, its president and head of Latin America.
Investment returns will be lower compared with historical gains, Mr Curl, 63, said at an industry conference in Hong Kong. The United States represents considerable risks, he added………………………………………..Full Article: Source

Industry returns could shrink by half: Temasek

Posted on 22 June 2012 by VRS  |  Email |Print

Singapore investment giant Temasek Holdings expects smaller returns for the asset management industry amid a very difficult outlook with the United States market posing considerable risks, according to its President, Mr Gregory Curl.
“We’re interested in sustainable returns over what we believe is going to be a very difficult and volatile environment for a number of years globally. Going forward, we would expect that returns will be between one-half and two- thirds of what they have been historically,” Mr Curl said yesterday, referring to the returns for asset managers………………………………………..Full Article: Source

Libya wealth fund to request UniCredit board seat

Posted on 21 June 2012 by VRS  |  Email |Print

Farhat Omar BengdaraLibya’s sovereign-wealth fund will ask for a seat on UniCredit SpA’s board, the fund’s president said Wednesday, after the term of the member representing Libyan interests expired last month.
Until May 11, Libyan investments in the Italian bank had been represented by Farhat Omar Bengdara, governor of the Libyan central bank. In May, UniCredit’s shareholders also decided to cut the number of the bank’s board members to 19 from 23………………………………………..Full Article: Source

Libyan fund lost $1.75 bln in investments managed by Goldman, SocGen-head

Posted on 21 June 2012 by VRS  |  Email |Print

The Libyan sovereign wealth fund has lost $1.75 billion on financial investments in structured products managed by Goldman Sachs and Societe Generale , the fund’s chairman said on Wednesday.
Mohsen Derregia, chairman of the Libyan Investment Authority, told reporters in Milan LIA needed to review these investments and how they were managed. “Then we will talk to the investment houses and see if we can claim a refund,” Derregia said………………………………………..Full Article: Source

Libya eyes refund of Goldman, SocGen losses

Posted on 21 June 2012 by VRS  |  Email |Print

The Libyan sovereign wealth fund is investigating investment losses of $1.75 billion on structured products managed by Goldman Sachs and Societe Generale to see whether it can claim compensation, the fund’s chairman said on Wednesday.
Mohsen Derregia, chairman of the Libyan Investment Authority (LIA), told reporters in Milan that the LIA needed to review these investments and how they were managed………………………………………..Full Article: Source

Resolving the Nigeria sovereign wealth fund debacle

Posted on 21 June 2012 by VRS  |  Email |Print

Nigeria may learn from other countries. In the United States there is no national sovereign wealth fund (SWF) but each state is free to set up its own SWF.
For instance, State of Alaska has the Alaska Permanent Fund (oil-based SFW), the State of Wyoming has the Wyoming Mineral Trust Fund (a mineral-based SWF) and the State of New Mexico has the New Mexico State Investment Trust (a non-commodity SWF)………………………………………..Full Article: Source

Norges ‘under offer’ on Sheffield’s Meadowhall

Posted on 21 June 2012 by VRS  |  Email |Print

Norway’s Norges, the world’s largest sovereign wealth fund, has been in talks, advised by CBRE, to buy the stake from the centre owners - London & Stamford and British Land - for several months but market sources this week said the centre was now under offer.
London & Stamford said in its May results that it was “actively involved” in talks to raise significant funds from the sale of its 50% joint venture interest in Meadowhall, which produces annual income of around £77m………………………………………..Full Article: Source

The benefits of a bountiful oil supply

Posted on 21 June 2012 by VRS  |  Email |Print

As of March this year, the total value of Norway’s Sovereign Wealth Fund (SWF) was NOK 3,496 billion ($613 bn) — the world’s largest. Officially The Government Pension Fund of Norway, the fund derives its wealth not from pension contributions, but primarily from oil revenues, including taxes, dividends, sales revenues and licensing fees. Norwegians refer to it simply as Oljefondet, or “The Oil Fund.”
This vast wealth has allowed the Norwegians to indulge in that most costly of economic experiments: Socialism………………………………………..Full Article: Source

Tories vote down motion to invest surpluses in Heritage Trust Fund

Posted on 21 June 2012 by VRS  |  Email |Print

Opposition parties attacked the provincial government Wednesday for failing to invest more in Alberta’s Heritage Savings Trust Fund.
NDP MLA Dave Eggen asked the committee that oversees the fund to recommend a new law that would commit 30 per cent of any budget surplus to the fund. Tories on the committee voted against the idea and the motion was defeated………………………………………..Full Article: Source

Alaska Permanent Fund holds steady

Posted on 21 June 2012 by VRS  |  Email |Print

Alaska’s Permanent Fund has been riding the roller coaster of financial markets and probably will end its fiscal year on June 30 in a break-even position, according to Mike Burns, the fund’s executive director.
The monthly performance report prepared for the fund’s trustees for April 30 showed a 0.76 percent gain in value over the prior 12 months, although the fiscal-year-to-date (July 1 to April 30) was little better, a gain of 2.03 percent………………………………………..Full Article: Source

For China, the euro is a safer bet than the dollar

Posted on 21 June 2012 by VRS  |  Email |Print

Chinese purchases in Europe are likely to expand in the future as the debt crisis in some eurozone members provides investors with lucrative opportunities.
To this end, in March 2012 the Chinese government injected $30 billion into the China Investment Corporation (the Chinese sovereign wealth fund) to be used specifically for acquiring industrial and strategic assets in Europe………………………………………..Full Article: Source

Sovereign wealth funds could be private equity’s new best friend

Posted on 20 June 2012 by VRS  |  Email |Print

With private equity firms testing the limits of limited partners’ ability and willingness to fill their new-fund coffers, sovereign wealth funds (SWFs) are emerging as a potential source of capital to help bridge the fund-raising gap.
As we point out in Bain’s Global Private Equity Report 2012, SWFs are eager to partner with a wide range of PE firms—provided general partners (GPs) understand how to work with them………………………………………..Full Article: Source

Norway’s pension fund divests from Israel’s largest real estate firm

Posted on 20 June 2012 by VRS  |  Email |Print

Norway’s finance ministry has excluded Shikun & Binui from the Government Pension Fund Global (GPFG), the largest pension fund in Europe, over its construction of illegal Israeli colonies in East Jerusalem. Analysts have described the company as Israel’s largest real estate business.
The Norwegian government has previously divested from Israeli military company Elbit, as well as Africa Israel Investments and Danya Cebus, two other construction companies involved in building illegal settlements………………………………………..Full Article: Source

National Pension Reserve Fund agrees $100mln innovation deal with Silicon Valley Bank

Posted on 20 June 2012 by VRS  |  Email |Print

The National Pensions Reserve Fund is to collaborate with Silicon Valley Bank to lend $100m to the Irish innovation sector. The money will be available to Irish technology, life science, cleantech private equity and venture capital businesses.
The National Pensions Reserve Fund will help identify potential clients in these niche sectors………………………………………..Full Article: Source

GVK ‘in GIC talks to sell stake in Singapore unit’

Posted on 20 June 2012 by VRS  |  Email |Print

India’s GVK Power and Infrastructure is seeking to raise US$500 million (S$633.8 million) to US$600 million by selling a stake in its Singapore arm. The company is in talks with Government of Singapore Investment Corp (GIC) for a potential deal, two sources said.
The Indian developer of airports, power projects, roads and mines will sell a minority stake in GVK Coal Developers (Singapore), the sources said, adding that a deal may be a precursor to a Singapore listing of the unit that holds coal assets in Australia………………………………………..Full Article: Source

China invests in emerging markets instead of U.S

Posted on 20 June 2012 by VRS  |  Email |Print

Chinese Investment Corporation has announced that it will be moving some of its invested funds out of the U.S. and into emerging markets. This is because China’s long-term view on the state of the U.S. economy has changed for the worse.
“The sustainability of the U.S. economy is built on foreign investments; fresh money coming into the nation continuing its growth path. Once we lose the interest of other nations in investing in the U.S. economy, we lose our edge.” (Press Release)

Australia: Investment fears ’scaremongering’, says Emerson

Posted on 20 June 2012 by VRS  |  Email |Print

Only a fool would believe Australia’s agricultural development could be funded without foreign investment from sovereign wealth funds, according to Trade Minister Craig Emerson.
Renewed debate on the Foreign Investment Review Board’s (FIRB) $244 million threshold has been sparked with news the Chinese company Zhongfu is interested in buying 30,000 hectares of new irrigation land, to be watered by Australia’s largest man-made storage in the Top End………………………………………..Full Article: Source

SWFs to reach $30 trillion in 20 years

Posted on 19 June 2012 by VRS  |  Email |Print

Sovereign wealth funds (SWF) have grown to US$5 trillion but still account for just 6% of world funds under management, according to new research from Rainmaker. The SWF sector has grown 10% pa over the past four years and is on its way to reaching $US30 trillion over the next 20 years provided there are no significant capital draw downs, notes Rainmaker.
Reflecting the dominance of resource revenue in SWF assets, the Middle East makes up 38% of the sector. In Asia SWFs are primarily used to manage fiscal and currency reserve. Nearly two-thirds of Asia’s SWF assets are sourced from China………………………………………..Full Article: Source

An introduction to sovereign wealth funds

Posted on 19 June 2012 by VRS  |  Email |Print

Sovereign wealth funds have attracted a lot of attention in recent years as more countries open funds and invest in big-name companies and assets. Some experts estimate that all sovereign wealth funds combined to hold more than $5 trillion in assets in 2012, a number that is expected to grow relatively quickly.
This has given way to a wide concern over the influence these funds have on the global economy. As such, it is important to understand exactly what sovereign wealth funds are and how they first came about………………………………………..Full Article: Source

China changes hold up Oakajee port project

Posted on 19 June 2012 by VRS  |  Email |Print

Fresh doubts have emerged over the future of Western Australia’s $5.9 billion Oakajee port and rail project. A report to the country’s economic decision-makers, which is critical to the project’s funding by China’s sovereign wealth fund China Investment Corporation, has been delayed by at least three months.
This is likely to put renewed financial pressure on miners in the Mid-West region and could lead to further delays in the project………………………………………..Full Article: Source

China’s Oakajee funding hits delays; future questioned

Posted on 19 June 2012 by VRS  |  Email |Print

The delay of a report to China’s National Reform and Development Commission that is crucial to funding Western Australia’s $5.9 billion Oakajee port and rail project has cast further doubt on the project’s future. The report is required before any Chinese funds from China’s sovereign wealth fund China Investment Corporation (CIC) can be released for the project.
Its delivery has been delayed by at least three months, the report said………………………………………..Full Article: Source

Mexico’s $120 bln AFOREs can now invest in commodities

Posted on 19 June 2012 by VRS  |  Email |Print

Pension funds, known as AFOREs (Administradoras de Fondos para el Retiro) in Mexico, are some of Mexico’s largest institutional investors. 1.68 trillion pesos are under management with Mexican pension funds which equates to US$ 120.6 billion.
Starting June 20, 2012, AFOREs will be able to invest in the majority of commodity-linked securities. In addition, AFOREs will be able to invest in commodity futures, options, and swap contracts. Banco de México authorized investments for commodities from oil to milk………………………………………..Full Article: Source

‘China’ fund raises stakes in Japan firms: report

Posted on 18 June 2012 by VRS  |  Email |Print

OD05 Omnibus, an investment fund widely believed to be a Chinese government investment vehicle, has been increasing its stakes in Japanese companies including Toyota and Honda.
The report, which highlights growing China-Japan economic ties, comes after China’s sovereign wealth fund China Investment Corporation (CIC) reportedly said it will no longer buy European government debt. CIC chairman Lou Jiwei told the Wall Street Journal this month that the giant fund has scaled back its holdings of stocks and bonds in Europe, saying “there is a risk that the euro zone may fall apart and that risk is rising.”……………………………………….Full Article: Source

CIC ’shows confidence in Greece’

Posted on 18 June 2012 by VRS  |  Email |Print

China Investment Corporation is committed to discussing possible investment plans in Greece once a government is formed in the European nation after Sunday’s election, said Greek business leaders.
The intention was expressed by China’s sovereign wealth fund during a recent visit to Beijing by a delegation from the Hellenic-Chinese Chamber, which aims to promote the development of business and economic ties between Greece and China………………………………………..Full Article: Source

Temasek applies for higher trading quota in China

Posted on 18 June 2012 by VRS  |  Email |Print

Singapore investment firm Temasek Holdings on Thursday said it had applied for an increase in its quota for publicly traded securities in China. Under China’s Qualified Foreign Institutional Investors (QFII) program, only approved institutional investors can buy or sell yuan-denominated securities.
Temasek said “as an investor who invests for long term returns”, it “remains confident and optimistic in China’s long-term growth”………………………………………..Full Article: Source

KIA pumps US$150 mln in IHH Healthcare

Posted on 18 June 2012 by VRS  |  Email |Print

Sovereign wealth fund Kuwait Investment Authority (KIA) will invest about US$150 million (RM477.8 million) in Malaysian firm IHH Healthcare’s planned US$2 billion (RM6.4 billion) IPO in Kuala Lumpur and Singapore, two sources with direct knowledge of the deal said.
The investment is poised to make KIA the second-biggest investor in the Malaysian healthcare firm’s IPO. It will be the fund’s biggest investment in an Asian flotation since it poured US$800 million (RM2.5 billion) into Agricultural Bank of China’s US$21 billion (RM66.9 billion) offering in 2010………………………………………..Full Article: Source

Sparx wins sovereign fund money to start Japan property business

Posted on 18 June 2012 by VRS  |  Email |Print

Sparx Group Co., a Japanese asset manager, won money from a sovereign wealth investment company overseas to start a property fund focused on residential assets, Chief Executive Officer Shuhei Abe said.
Sparx Asia Capital Management Ltd. will be responsible for the five-year fund, which will have maximum capacity of 40 billion yen ($507 million) and will start in August or September, Abe said in a telephone interview from Tokyo………………………………………..Full Article: Source

India’s forex reserves grow to $287.37 bln

Posted on 18 June 2012 by VRS  |  Email |Print

After falling for five straight weeks, India’s foreign exchange reserves grew by $1.52 billion to $287.37 billion for the week ended June 8, 2012, official data showed. The reserves had plunged by $2.40 billion to $285.85 billion for the week ended June 1, apparently due to the Reserve Bank of India (RBI) selling dollars to defend the rupee.
The reserves had declined by $1.74 billion and $1.80 billion respectively in the previous two weeks of June 1, 2012………………………………………..Full Article: Source

Abu Dhabi, Qatar SWFs said to eye Snam stake

Posted on 18 June 2012 by VRS  |  Email |Print

Italian oil and gas major Eni has received expressions of interest from sovereign funds for a 22.5 percent stake in Snam that it must sell to exit investment in the gas grid operator, an Eni source said on Sunday.
“Several sovereign funds have expressed a preliminary interest that Eni will evaluate,” the source said………………………………………..Full Article: Source

Abu Dhabi fund interested in Eni’s Snam stake, Il Sole reports

Posted on 18 June 2012 by VRS  |  Email |Print

The Abu Dhabi Investment Authority and other Mideast sovereign-wealth funds have shown interest in buying Eni SpA (ENI)’s remaining stake in Snam SpA (SRG), newspaper Il Sole 24-Ore reported, without saying where it got the information.
Italy’s biggest oil company plans to sell its remaining 20 percent holding and may break it into 5 percent portions, Il Sole reported………………………………………..Full Article: Source

Massive Norwegian state fund to divest from Israeli company

Posted on 18 June 2012 by VRS  |  Email |Print

Ethics board finds Shikun and Binui ‘in breach of international humanitarian law in East-Jerusalem’ “Norway’s Ministry of Finance announced Friday that a state fund that is Europe’s largest equity investor would no longer invest in Israeli construction company Shikun and Binui.
Oslo said the decision to cut Shikun and Binui from the Government Pension Fund Global, commonly known as the oil fund, came on the heels of a recommendation from a state ethics board, which found the company was in contravention of international law by being involved in building projects in East Jerusalem………………………………………..Full Article: Source

Israeli company is excluded from Norwegian Pension Fund

Posted on 18 June 2012 by VRS  |  Email |Print

The Ministry of Finance has excluded the company Shikun & Binui Ltd. from the investment universe of the Government Pension Fund Global (GPFG).
The decision to exclude the company follows an exclusion reccommendation from the Council on Ethics to the GPFG. The company is a construction company involved in the building of settlements in breach of international humanitarian law in East-Jerusalem………………………………………..Full Article: Source

Fund managers target Nordics’ €1 trillion of savings

Posted on 18 June 2012 by VRS  |  Email |Print

The Scandinavian savings market – worth close to €1 trillion if all state sovereign, insurance and pension funds are considered – is a prize target for those international fund managers who can crack it.
The same trend is visible among the region’s giant state funds. Norway’s €463bn Government Pension Fund, which despite its name, is an oil-funded sovereign wealth pool with no specific pension liabilities, has been steadily bringing more and more of its fixed-income management in-house since 2008………………………………………..Full Article: Source

Sovereign fund would take care of Dutch disease: OECD

Posted on 18 June 2012 by VRS  |  Email |Print

The Harvard-trained economist, who began his career at the Bank of Canada in 1979, is also the man behind the OECD’s recent call for the central bank to begin gradually hiking its benchmark lending rate.
Norway has been saving [oil revenues] in the form of a sovereign wealth fund, and the Chileans do the same thing with copper. We have the Heritage Fund in Alberta but it’s pretty small potatoes, and it has enjoyed almost no inflows for a very long time………………………………………..Full Article: Source

Permanent Fund hasn’t sold holdings in firms linked to Iran

Posted on 18 June 2012 by VRS  |  Email |Print

The Alaska Permanent Fund Corp., state Department of Revenue and Alaska Retirement Management Board did not order the sale of stock holdings in companies that either do business in Iran or with the Iranian government after Gov. Sean Parnell called for divestment.
The decision boiled down to the mandates that each has for managing state funds — and that officials say they’re honoring, even if they’re not carrying out Parnell’s wishes………………………………………..Full Article: Source

An introduction to sovereign wealth funds

Posted on 18 June 2012 by VRS  |  Email |Print

Sovereign wealth funds have attracted a lot of attention in recent years as more countries open funds and invest in big-name companies and assets. Some experts estimate that all sovereign wealth funds combined to hold more than $5 trillion in assets in 2012, a number that is expected to grow relatively quickly.
This has given way to a wide concern over the influence these funds have on the global economy. As such, it is important to understand exactly what sovereign wealth funds are and how they first came about………………………………………..Full Article: Source

The world’s richest sovereign funds

Posted on 15 June 2012 by VRS  |  Email |Print

According to figures from research firm Sovereign Wealth Fund Institute, the UAE capital’s Abu Dhabi Investment Authority is head and shoulders above Norway’s Government Pension Fund – Global with US$611.
The top ten in the rankings is dominated by Asia-based funds, including those from Saudi Arabia, Singapore, Kuwait and China, many of which derive their wealth from oil receipts. Qatar Investment Authority, which has grabbed headlines of late for snapping up luxury assets in the UK and continental Europe, placed 12 with US$100bn………………………………………..Full Article: Source

Abu Dhabi owns the world’s richest sovereign fund

Posted on 15 June 2012 by VRS  |  Email |Print

Sovereign Wealth Fund Institute, the research company, announced that Abu Dhabi Investment Authority is the richest sovereign wealth fund in the world, with it assets at around USD627 billion, reported Arabian Business.
The company added that the authority’s assets exceeded those of Norway’s Government Pension Fund-Global by USD611………………………………………..Full Article: Source

SNB’s Jordan rules out sovereign wealth fund creation

Posted on 15 June 2012 by VRS  |  Email |Print

Thomas Jordan, the governor of the Swiss National Bank (SNB), said the idea of setting up a sovereign wealth fund with the Bank’s foreign currency holdings would do “little” to assist Switzerland or Swiss monetary policy.
“The idea of a sovereign wealth fund may appear attractive at first glance,” Jordan said, before outlining three critical factors that meant the step would not be appropriate for Switzerland………………………………………..Full Article: Source

Temasek to ramp up China investment

Posted on 15 June 2012 by VRS  |  Email |Print

The sovereign fund has applied for a new $700 million QFII quota as regulators reportedly consider raising the $1 billion cap. Fullerton Fund Management was one of seven to be granted a QFII licence yesterday, even as its parent, Temasek, applies for a huge quota increase amid reports that regulators may raise the $1 billion cap.
Fullerton received its permit along with Eurizon Capital (Luxemburg), BOCI-Prudential Asset Management (Hong Kong), Lion Global Investors (Singapore), Generali Fund Management (Luxemburg), William Blair (US) and Investec Asset Management (UK)………………………………………..Full Article: Source

Temasek in big Chinese securities push

Posted on 15 June 2012 by VRS  |  Email |Print

Temasek Holdings, which holds stakes in China’s biggest banks, said yesterday it filed an application to boost its quota for publicly traded securities in mainland exchanges to tap the nation’s long-term growth.
The Singapore investment company is seeking to increase allocations through the so-called qualified foreign institutional investor (QFII) programme, it said. Only approved institutional investors can buy or sell yuan-denominated securities within a preset quota under the QFII programme………………………………………..Full Article: Source

Kuwait to invest $150mln in Malaysia IHH IPO

Posted on 15 June 2012 by VRS  |  Email |Print

Sovereign wealth fund Kuwait Investment Authority (KIA) will invest about $150 million in Malaysian firm IHH Healthcare’s planned $2 billion IPO in Kuala Lumpur and Singapore, two sources with direct knowledge of the deal said.
The investment is poised to make KIA the second-biggest investor in the Malaysian healthcare firm’s IPO. It will be the fund’s biggest investment in an Asian flotation since it poured $800 million into Agricultural Bank of China’s $21 billion offering in 2010………………………………………..Full Article: Source

Kuwait, Malaysia’s pension fund to back IHH Healthcare IPO

Posted on 15 June 2012 by VRS  |  Email |Print

Middle Eastern sovereign wealth fund Kuwait Investment Corp and Malaysia’s largest pension fund have agreed to become cornerstone investors in the planned US$2-billion (S$2.6-billion) initial public offering (IPO) of IHH Healthcare in Kuala Lumpur and Singapore, a source said.
The source said KIA has agreed to invest US$150 million, while Malaysia’s Employees Provident Fund is planning to pour in US$200 million………………………………………..Full Article: Source

Malaysia misses IPO drought

Posted on 15 June 2012 by VRS  |  Email |Print

The Kuwait sovereign-wealth fund will invest $150 million in IHH Healthcare, while Malaysia’s Employees Provident Fund, or EPF, will put in $200 million, the person said.
The International Finance Corp., an investment arm of the World Bank, said on its website that its board has approved investing in the IPO, but didn’t provide details. An IFC spokesman declined to comment further……………………………………….Full Article: Source

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