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Sovereign Wealth Funds Briefing 07.Jun 2012

Posted on 07 June 2012 by VRS |  Email |Print

Nick TolchardWith the exception of Qatar, Gulf states are putting less money into their sovereign wealth funds used to save for the future and to make high-profile investments. Instead they are spending more locally on higher salaries, infrastructure projects, education and health care, in the aftermath of the Arab Spring.
“Sovereign wealth fund assets are being redirected from international investments back into the Mideast,” said Nick Tolchard, head of Invesco Middle East in Dubai………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

Pars PurewalThe value of sovereign wealth funds globally topped a landmark $5 trillion at the end of April – and this figure looks set to rise even further as new countries around the world begin to explore the possibilities of state savings and investment funds.
A total of 30 sovereign investment funds were created between 2006 and 2010, according to a December report by the Milken Institute that was prepared for Israel, which is planning its own SWF………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

Malaysia’s sovereign wealth fund Khazanah Nasional Berhad has emerged as the top bidder to pick up a controlling stake in Ruia family-owned BPO firm Aegis Global, two people directly briefed on the matter said on condition of anonymity.
Khazanah is said to have emerged as a ’serious bidder’ for the BPO firm which employs more than 60,000 people and has revenues of nearly $1 billion, one of the people quoted above said………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

China’s overseas investment surged in the first quarter to $21.4 billion as state-owned companies snapped up resource-related assets around the globe, according to a report by a private investment firm that counts China’s sovereign-wealth fund among its partners.
The largest investment in Europe was the 8.7% stake in U.K. utility Thames Water acquired by China Investment Corp., the country’s sovereign-wealth fund. The size of the deal was never disclosed, but A Capital valued it at $779 million………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

China Investment Corp. (CIC) inked a contract o establish a fund management joint venture with Russian Direct Investment Fund (RDIF) on June 5. Lou Jiwei, chairman and CEO of the Chinese sovereign wealth fund, and Kirill Dmitriev, CEO of the Russian sovereign wealth fund, attended the signing ceremony and under terms of the contract, the venture, based on the mode of limited partnership, aims to raise USD 2 billion to USD 4 billion in total.
CIC and RDIF will each injects USD 1 billion into it, with the remainder to be infused by third-party international investors………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

Integrated Healthcare Holdings (IHH), which operates hospitals in Asia, is trying to rope in Kuwait’s sovereign wealth fund as a cornerstone investor in its US$2bil (RM6.35bil) dual listing in Kuala Lumpur and Singapore, sources said.
The Middle Eastern investor would be part of more than 10 cornerstones that IHH hoped to finalise by next week who would take up over 40% of the US$2bil offering, sources with direct knowledge of the deal told Reuters………………………………………..Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

Asiya Investments Dubai Ltd., a newly set up unit of Kuwait-based Kuwait China Investment Co. (KCIC), aims to persuade Arab sovereign funds and wealthy families to boost investments in Asia to profit from the region’s economic growth.
Kuwait China Investment, in which the country’s sovereign wealth fund Kuwait Investment Authority owns a 15 percent stake, currently manages about $500 million and the company wants to increase that to about $1 billion over the next two years, Chief Executive Officer Mohab Mufti said……………………………………….Full Article: Source

Posted on 07 June 2012 by VRS |  Email |Print

Qatar Investment Authority (QIA), the sovereign wealth fund that bought London’s Harrods department store in 2010 for US$2.22bn, has snapped up a luxury retail complex on Paris’s Champs-Elysées boulevard, it was reported on Tuesday.
QIA, the investment arm of Qatar Holding, bought the flagship retail complex in the heart of Paris from French insurance firm Groupama for around €500m (US$622m), according to a report on Tuesday by newspaper Le Figaro………………………………………..Full Article: Source

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