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Sovereign Wealth Funds Briefing 05.Dec 2011

Posted on 05 December 2011 by VRS |  Email |Print

Chile hired Blackrock Inc., Rogge Global Partners Plc and Mellon Capital Management Corp. to manage a portion of the country’s $4.5 billion of pension savings held abroad.
Blackrock Institutional Trust Company NA and Rogge will manage the corporate fixed-income portfolio and Blackrock and Mellon will manage the equity portfolio, according to a statement on the website of the central bank, which acts for the government in the management of the funds………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

Navid ChamdiaQatar’s sovereign wealth fund has inked the purchase of the new headquarter project of Poland’s national telecommunications provider from the local arm of French developer and property group Bouygues. Financial details were not disclosed.
The A-class office complex currently under development will house the future head office of Telekomunikacja Polska, and will comprise five office buildings totalling 43,700 m2 of institutional quality space as well as over 1,000 parking spaces. The project, which is scheduled for completion in the summer of 2013, is aiming for a BREEAM environmentally sustainable rating………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

Finance minister Kikis Kazamias is due to meet with representatives of Qatari state firm, Qatari Diar, and the six-member council tasked with fleshing out the legal, technical and financial details of the project in the morning.
Qatari Diar is an investment vehicle wholly owned by the Qatar Investment Authority. It has separate management and leadership, but it is chaired by Sheikh Hamad bin Jassim bin Jabr al -Thani, who also controls the QIA………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

Before the collapse of the Libyan regime led by Gaddafi, several Libyan-Qatari agreements were concluded covering common investments that exceed USD 10 billion. After the National Transitional Council (NTC) took power in Libya, the Qatari Government started to observe cautiously, like all the other countries that supported the NTC, the size of its projects and investments in Libya.
Several steps were taken to revive these projects, in the hope of more Qatari investments in Libya, especially after the estimations of some international reports that the actual cost for the reconstruction of Libya is around USD 700 billion. The first phase of the reconstruction plan estimated at USD 200 billion will start next year………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

The Government of Singapore Investment Corporation, which manages private equity through its subsidiary GIC Special Investments, has engaged intermediaries to handle the sale process of the interests, according to two people familiar with the situation.
The contents of the portfolio are currently unknown. However, one person with knowledge of the situation said that they were likely to be primarily US fund interests with a minimum value of $500m, potentially rising depending on the level of interest………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

Lou Jiwei, the chairman and chief executive of China Investment Corp., a $374 billion sovereign wealth fund that is managed independently of the foreign exchange reserves, has also tried to dampen speculation that the investment corporation might buy a lot of European bonds.
He suggested a week ago that his fund might invest in roads, bridges and other infrastructure projects in Europe, part of a broader Chinese interest in fixed assets as opposed to helping countries finance their budget deficits………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

China can’t use its $3.2 trillion in foreign exchange reserves to “rescue” European nations and the country “has done its part” to help the region deal with its financial crisis, Vice Foreign Minister Fu Ying said.
“Foreign reserves are not revenues,” Fu, whose portfolio is European affairs, said in a question and answer session following a speech in Beijing yesterday. “It’s not money that can be used by the premier or the finance minister.”……………………………………….Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

Premier Colin Barnett wants a future fund to quarantine the State’s vast mineral wealth for generations of West Australians, saying it was “on the Government’s agenda” to be established if it won another term.
The Premier yesterday revealed “quite a bit of work over several years” had been carried out on creating a formal sovereign wealth fund………………………………………..Full Article: Source

Posted on 05 December 2011 by VRS |  Email |Print

The bailout fund was once called the “big bazooka” a mighty weapon in Europe’s armory that would zap the debt crisis. The fund was supposed to lend to any eurozone government in trouble. But the bazooka now looks more like a BB gun — after lending heavily to the Greeks, the Portuguese and the Irish, it only has about $350 billion left. Italy and Spain will soon need more than double that between them.
And Raoul Ruparel of the Open Europe think-tank says a plan to persuade China and others to put money into the fund has come to nothing………………………………………..Full Article: Source

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