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Sovereign Wealth Funds Briefing 24.Aug 2012

Posted on 24 August 2012 by VRS |  Email |Print

David NealAustralia’s sovereign wealth fund agreed to buy Australian Infrastructure Fund (AIX) for A$2 billion ($2.1 billion), acquiring stakes in airports across the country. The A$77 billion Future Fund will pay A$3.22 for each security, Australian Infrastructure Fund said in a statement today, 22 percent higher than the stock’s closing price yesterday. The shares climbed 18 percent to A$3.12 at 10:20 a.m. in Sydney after the statement.
Australian Infrastructure Fund’s assets include stakes in Perth Airport, Melbourne Airport and Queensland Airports, according to the statement. There’s no guarantee a deal will be reached, the company said………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

Shares in Australian Infrastructure Fund Ltd soared as much as 19 percent to a 5 year high on Friday after it said it had agreed to a A$2 billion ($2.10 billion) offer from Australia’s Future Fund.
Under the deal, the sovereign wealth fund will acquire all of AIX’s assets, including interests in several state airports. Shares in AIX were trading at A$3.15, up 18.9 percent, at 1235 GMT………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

The secondaries arm of Credit Suisse has won the race to buy a portfolio of private equity interests from GIC, understood to be the first to be sold by the Singaporean sovereign wealth fund.
CS Strategic Partners has sought off competition from a number of other secondaries firms to agree to buy the portfolio, after GIC made the decision to explore a sale of a number of its private equity fund interests last December, according to two people familiar with the matter………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

A state-owned Chinese investment company says it has sold a 22.2 percent stake to an arm of Qatar’s sovereign wealth fund. Citic Capital Holdings Ltd.’s deal with Qatar Holding LLC expands Beijing’s financial ties with Middle Eastern economies.
Citic Capital CEO Yichen Zhang said the company hopes the relationship with Qatar Holding will expand its investment opportunities abroad………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

The government has told Parliament it is creating a sovereign wealth fund to buy fertiliser and energy assets abroad. Union Minister of State for Chemicals and Fertilisers Srikant Jena said the govt is formulating a concept paper on the subject. The paper is being worked out in close consultation with various ministries including the planning commission, he added.
According to the minister, his ministry and the department of economic affairs have already been considering the matter. The working group on fertilisers set up by the planning commission had earlier suggested that the country should seriously consider buying fertiliser mineral assets abroad to be able to supply the deficiency in the domestic supply, the minister added………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

At the launch of the Agaciro Development on Thursday, presided over by President Paul Kagame, Rwf 1.2billion (US$2million) was pledged on the first day. We bring you photos of what transpired at the history-changing event which took place 23 August 2012 at Hotel Serena, Kigali.……………………………………….Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

The battle lines are hardening in the fight over control for the mining company Xstrata. Qatar Holding, the sovereign wealth fund of the Persian Gulf nation, has increased its stake in the company to above 12 percent from 11.95 percent, buying nearly £24 million ($38 million) of shares, as it continues to oppose the planned $30 billion takeover of Xstrata by the commodities trading company Glencore International.
The move comes days after Ivan Glasenberg, Glencore’s chief executive, insisted that his company would not pay a higher price for Xstrata and could walk away from the deal. Qatar Holding, the second-largest Xstrata shareholder behind Glencore, has been steadily amassing a larger stake………………………………………..Full Article: Source

Posted on 24 August 2012 by VRS |  Email |Print

Gov. Robert Bentley said today he didn’t ask the board that oversees the Alabama Trust Fund to take a position on a plan to transfer more than $437 million from the trust fund to the state General Fund.
“I did not feel that it was necessary for the board to take a position on that,” said Bentley, who chairs the nine-member board. “It’s really not their job. Their job is to invest the money and get as much money as possible from the $2.3 billion that we have in that fund,” Bentley said in an interview………………………………………..Full Article: Source

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