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Sovereign Wealth Funds Briefing 11.Nov 2011

Posted on 11 November 2011 by VRS |  Email |Print

Rafik NayedSome of the over-large cash component of Libya’s $65-billion sovereign wealth fund will be put to work financing post-Gaddafi reconstruction, leaving time for a full review of its less liquid investments.
“I expect an immediate shrinkage of the size of the fund,” Rafik Nayed, acting chief executive of the Libyan Investment Authority (LIA), told Reuters in an interview on Wednesday………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

Libya has gone through a tumultuous revolution. The North African country is in the midst of jumpstarting its banking sector and trying to restart oil operations. Luckily, Libya has a sovereign wealth fund to tap for reconstruction and deep reserves of oil underground to continue to fund it. For some countries, this is why they created sovereign funds.
The Libyan Investment Authority (LIA) at the end of June 2011, had around US$ 64.9 billion. The new government also will have access to foreign reserves from the Central Bank of Libya. The total amount of the LIA and Central Bank of Libya’s assets is around US$170 billion………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

Governors of the 36 States of the federation have backed down on their hard stance over the Sovereign Wealth Fund which has kicked off because the grey areas in the fund have been addressed by the federal government.
This was disclosed Thursday by Governor Gabriel Suswam of Benue State, who was at the Presidential Villa to attend the National Economic Council meeting, explained that there was no time they were opposed to the scheme but for some discrepancies noted in the modalities they had agreed to operate the fund on………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

The assets of the State Oil Fund of Azerbaijan (SOFAR) will increase up to $50 billion over the next five years, SOFAR Executive Director Shahmar Movsumov told Russian paper Moskovsky Komsomolets in an interview.
“If the existing crude oil prices remain the same and SOFAR expenditures are equivalent to that this year we can forecast that the Oil Fund’s assets will be raised up to $50 billion over the next five years,” Movsumov said………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

Kazakhstan is looking at widening participation in its privatisation programme to international investors, the deputy chief executive of the country’s sovereign wealth fund Samruk-Kazyna said on Thursday.
The central Asian country’s President Nursultan Nazarbayev, in power for two decades, had promised at the start of this year to hold “a people’s IPO” to give hundreds of thousands of ordinary Kazakhs the chance to own shares in major companies and boost the country’s dormant stock market………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

A leading sovereign wealth fund is said to be looking over the US$5-6 billion Turkish highways privatisation, IJ News has learned.
Several such funds are said to be eyeing the deal launched in August, which will demand a high level of equity from Turkish and international sponsors at a time when several other infrastructure projects are in the market………………………………………..Full Article: Source

Posted on 11 November 2011 by VRS |  Email |Print

On November 2, 2011, the US Treasury Department released proposed regulations (the Proposed Regulations) under Section 892 of the Internal Revenue Code of 1986, as amended (the Code) that should facilitate the investment in private equity funds by sovereign wealth funds and other entities controlled by foreign governments.
The Proposed Regulations clarify some previously unanswered questions, and liberalize the existing rules in several respects, eliminating some “traps for the unwary.” The Proposed Regulations are welcome news to private equity funds and to sovereign wealth funds………………………………………..Full Article: Source

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