Mon, May 23, 2022
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 09.Nov 2011

Posted on 09 November 2011 by VRS |  Email |Print

Trond GrandeNorway’s oil fund is “more unclear” on how Europe’s revamped bailout facility will work as the region plans to present its leveraged rescue fund next month in the hope of attracting investors.
“We are waiting for more information,” Trond Grande, the deputy chief executive officer of the nation’s $560 billion sovereign wealth fund, said in an interview in Oslo. “It’s more unclear for us how that construction would be.” He declined to comment on whether the fund bought bonds in yesterday’s 3 billion-euro ($4.1 billion) note sale by the European Financial Stability Facility………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Sanabil al-Saudia, the Saudi sovereign wealth fund, has appointed the former Morgan Grenfell Private Equity star executive Scott Lanphere as its new head of direct investments. Lanphere’s hire is among the first to come to light since the fund was launched in 2008.
Lanphere – dubbed the “six-million dollar man” by the press as a result of the package paid on his move from private equity firm Advent International to peer Morgan Grenfell Private Equity a decade ago – is to join Sanabil as head of direct investments, overseeing a $4.5bn private equity programme………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Kuwait’s sovereign wealth fund is taking significant steps toward increasing its presence in China, establishing a representative office in Beijing with the aim of capitalising on the Asian giant’s rapid economic progress and rising demand for energy, Global Arab Network reports according to OBG.
The outlook for regional expansion this year by the Kuwait Investment Authority (KIA) was further boosted this month by official figures which showed the country’s revenues had surged by 40% in the first half of 2011, with higher oil prices and output driving the growth………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

In a move that should startle members of Congress, a Palestinian sovereign wealth fund that has long received American taxpayer support will soon begin building houses for convicted members of terrorist organizations.
Palestinian Authority president Mahmoud Abbas has tapped the Palestinian Investment Fund (PIF) to build houses for the prisoners released in the October exchange that freed Israeli soldier Gilad Shalit, whom Hamas had held for five years. Recipients will include convicted members of Hamas, Islamic Jihad, and the al Aqsa Martyrs Brigades………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Controversy broke-out recently over the Sovereign Wealth Fund (SWF) which was signed into law by the President on May 27, 2011. The on-going tussle over the fund assumed a pungent legal dimension last week when 23 state governors filed an application before the Supreme Court over legality, and to restrain the Federal government from tampering with money domiciled in the Excess Crude Account (ECA).
Interestingly, not much public excitement has attended the political and legal controversies, partly because they have been out-flanked by the more combustible debate over the removal of the fuel-subsidy………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Africa is a resource rich continent with rapidly expanding demographics, but political risks are common in Africa. Launched in 2007, the China-Africa Development Fund (CAD Fund) has fully invested the initial US $1 billion.
The CAD Fund can expand up to US$ 5 billion in capital. The initial US$1 billion was derived from the China Development Bank (CDB). The CDB is a government lender owned by the People’s Republic of China. They also finance overseas investment projects………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Indonesia’s PT Bumi Resources , Asia’s largest thermal coal exporter, has completed the early repayment of $600 million of its debt to sovereign wealth fund China Investment Corp (CIC) , cutting its annual interest bill by $72 million.
The first tranche of CIC debt had been due in September 2013 and was paid early by mutual consent, Bumi said. PT Bumi is 29 percent owned by London-listed Bumi Plc , a joint venture between Indonesia’s Bakrie Group, investor Samin Tan and British financier Nat Rothschild………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

The energy crisis in India has hardly escaped anybody’s attention in recent times. In the race to be an economic super power, it will not be an exaggeration to state that the country that expects to grow by leaps and bounds has to be extremely secure in terms of its energy requirements.
The Government of India, while understanding the need, seems to be clueless about the way to ensure the same. A glaring example of this is the idea of setting up a sovereign wealth fund (SWF) with the aim of acquiring mineral and energy assets abroad………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

Australia would be well-advised to establish a sovereign wealth fund to take full advantage of the current resources boom and provide for the period thereafter, according to participants in a Money Management/Super Review roundtable conducted in New York.
The Boston Company senior managing director of Global Core Equity, Sean Fitzgibbon, told the roundtable he believed Australia needed to be wary of the boom-bust cycle so commonly associated with commodities and put in place something that could act as a cushion in the down-times………………………………………..Full Article: Source

Posted on 09 November 2011 by VRS |  Email |Print

European finance ministers pledged to roll out a bulked-up rescue fund next month, leaving Greece and Italy on the front lines until then in the fight against the debt crisis.
Greece was ordered to provide written acceptance of bailout terms in order to win an 8 billion-euro ($11 billion) loan installment by the end of November, while Italy was pressed to turn budget-cut promises into reality………………………………………..Full Article: Source

See more articles in the archive

banner
banner
May 2022
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031