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Sovereign Wealth Funds Briefing 24.Sep 2014

Posted on 24 September 2014 by VRS |  Email |Print

Norway’s $870-billion sovereign wealth fund should be allowed to directly invest in infrastructure such as wind farms and solar plants, the country’s opposition Labour party will propose, a plan gaining the support of the majority of parties.
The world’s largest sovereign wealth fund, which owns on average 1.3 percent of all listed companies worldwide, is currently mandated to invest in stocks, bonds and property abroad. But if the fund, set up to invest Norway’s oil and gas revenue, was allowed to expand the scope of its portfolio to include infrastructure projects, starting with renewables, it may greatly increase capital into the sector………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

Norway has vaulted to the top ranks of foreign U.S. commercial real estate buyers as its $870 billion sovereign-wealth fund, the world’s largest, acquires buildings from New York to San Francisco.
The country has spent more than $3.2 billion on U.S. real estate this year, including the assumption of debt, according to research firm Real Capital Analytics Inc. and statements from the wealth fund. That makes it the biggest international buyer after Canada. The total is more than double the amount spent in all of 2013, when Norway ranked No. 6 for property purchases………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ, an entity that accumulates and manages the country’s oil and gas revenues, is expected to gain $200 billion in the coming years.The news was announced by Executive Director of SOFAZ Shahmar Movsumov on September 20.
He told the journalists that currently, SOFAZ continues financing the projects on the construction of the Baku-Tbilisi-Kars railway, rehabilitation of the Samur-Absheron irrigation system, as well as the state program on education of Azerbaijani students abroad………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

The private equity owner of RAC has decided to ditch a stock market float in favour of a £2bn-plus sale to Singapore’s sovereign wealth fund. Carlyle, which bought the breakdown business for £1bn from insurer Aviva three years ago, is locked in talks with Government Investment Corporation (GIC) of Singapore.
Sources indicated the sale, first reported by Sky News, could be announced as early as Wednesday afternoon. Although it is thought unlikely the final sale price will be announced alongside details of the transaction, Carlyle would only opt to sell rather than float the business in return for a healthy premium……………………………………….Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

A Singaporean state fund is in secret talks to lead a £2bn-plus takeover of the RAC, a move that would end the prospect of a stock market listing of the famous roadside recovery business. Sky News can reveal that the Government Investment Corporation of Singapore (GIC) is discussing with Carlyle, the RAC’s existing owner, a deal that could be struck within days.
GIC is understood to have been interested in participating in a takeover of the RAC, which has 8.2 million members, for some time, having been enticed by the company’s stable cashflows and growth prospects, according to a person close to the situation………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

Marquee international investors L Capital, Temasek Holdings and International Finance Corporation are in the final reckoning to buy minority shares in Aditya Birla Group’s retail holding company, people familiar with the matter said.
Billionaire Kumar Mangalam Birla is in the midst of combining his group entities Madura Lifestyle & Fashion, Pantaloons department stores and More supermarkets into a new listed company valued at $2.3 billion in enterprise valuation. Birla could raise as much as $400 million from two or three investors, though a final quantum has not been decided yet. Standard Chartered Bank is advising Aditya Birla Group on the deal………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

The world’s biggest Islamic debt offering this year from Malaysia’s sovereign wealth fund will push the nation’s sukuk sales beyond RM50 billion for only the second time in 16 years. 1Malaysia Development Bhd (1MDB) plans to sell as much as RM8.4 billion of the notes, adding to the RM46.9 billion sold so far that’s almost double the amount a year earlier.
After 2012’s record issuance of RM95.8 billion, CIMB Group Holdings Bhd and Asian Finance Bank Bhd see RM100 billion as being achievable in the next few years………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

Seven Energy International Limited, an indigenous integrated oil and gas development, production and distribution company with interests in Nigeria, and the Sovereign Investment Authority (NSIA), Nigeria’s sovereign wealth fund, Tuesday announced a $100 million investment commitment.
Under the deal, NSIA through its Gas -to -Power funds managed on behalf of the Debt Management Office (DMO), signed a commitment letter for an investment of at least $100,000,000 in aggregate principal amount of senior secured notes due in 2023 to be issued and privately placed by Seven Energy Finance Limited………………………………………..Full Article: Source

Posted on 24 September 2014 by VRS |  Email |Print

Increasingly, sovereign wealth funds are investing directly. The larger sovereign funds are getting involved in more deals, whether in institutional real estate, partaking as a group member in a company acquisition or buying more shares on the open market.
As a whole, the world of sovereign wealth funds is rapidly expanding due to numerous factors. One significant factor is the number of new sovereign wealth funds cropping up, particularly in Africa and the Americas……………………………………….Full Article: Source

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