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Sovereign Wealth Funds Briefing 17.Aug 2012

Posted on 17 August 2012 by VRS |  Email |Print

Bruno del AmaMany Americans may not realize it, but there is a massive amount of money sitting in sovereign wealth funds. To be precise, the world’s sovereign wealth funds hold almost $5.1 trillion, according to the Sovereign Wealth Fund Institute.
Not surprisingly, the primary funding source for these vehicles comes by way of oil and gas resources. For investors, how a country’s sovereign wealth fund is funded is not as important as knowing that the fund exists. While it may be difficult to measure the qualitative impact of sovereign wealth funds, these vehicles can serve as a backstop for the countries that have them in times of economic tumult………………………………………..Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Laura AcheeAlaska Permanent Fund, Juneau, is looking for a new CFO, confirmed spokeswoman Laura Achee.
Current CFO Julie Hamilton is leaving the $41.3 billion sovereign wealth fund to teach at the University of Alaska Southeast in Juneau. Her last day will be Sept. 7, Ms. Hamilton said. The search process will be handled internally, according to Ms. Achee………………………………………..Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

A China-focused investment fund backed by asset manager BlackRock Inc . and sovereign wealth fund China Investment Corp . seeks to round up $2 billion, said people with knowledge of the fundraising effort.
The pool, China Global Opportunities Fund, is being led by Liu Erfei, the former chairman of Bank of America Merrill Lynch ’s China operations, and has received a significant commitment of up to $500 million from CIC, the people said……………………………………….Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, struck two multi-billion dollar deals on Wednesday, including stakes in photo agency US-based Getty Images and China’s largest private medical check-up services company.
Washington-based Carlyle, the world’s second-largest private-equity firm, agreed to take over photo agency Getty Images from Hellman & Friedman in a US$3.3bn deal, betting on growing demand for online images as the media industry shifts away from print………………………………………..Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Royal Bank of Scotland Group Plc (RBS) chose the Abu Dhabi Investment Authority as the preferred bidder for 42 hotels it owns following loan defaults, Property Week reported, without saying where it obtained the information.
The sovereign-wealth fund offered 620 million pounds ($973 million) for the hotels operated by Marriott, the publication said. RBS and the fund didn’t immediately return calls seeking comment on the report……………………………………….Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Qatar Telecom (Qtel) is offering $2.2 billion to buy the remaining 47.5 percent stake it does not already own in Kuwaiti telecom company Wataniya as the state-owned operator eyes acquisitions to ward off threats from rivals. Kuwait sovereign fund owns 23.5 pct stake in Wataniya.
The fund is yet to decide whether to tender its Wataniya stake to the offer, a source familiar with the matter said. “The KIA stake is going to be key as the fund owns a similar stake in other telcos in Kuwait, including Zain,” a source said, adding: “if they sell Wataniya, does that mean they will be willing sellers of the rest? We will have to wait and see.”……………………………………….Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Late November a decision might be taken to use assets of the National Oil Fund to finance small and middle-sized businesses, which will enable the latter to rely on long cheap money, KazTag Agency reports, citing Ablai Myrzakhmetov, Chairman of the Atameken major business lobbying group.
“The assets of the National Oil Fund are managed by the National Bank, with the investment yield standing at 1.7%. Second-tier banks are ready to borrow the funds at the APR of 2.5% to finance small and middle-sized businesses………………………………………..Full Article: Source

Posted on 17 August 2012 by VRS |  Email |Print

Khazanah Nasional Bhd will unveil the names of its remaining three non-core units where it will either reduce its stakes or divest them entirely in the next three to six months.
Its managing director, Tan Sri Azam Mokhtar, said the three had been identified and would go through an evaluation phase before an announcement could be made. “We expect to announce it during announcement of the first-quarter financial results in January next year and by that time we will able to provide more details………………………………………..Full Article: Source

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