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Sovereign Wealth Funds Briefing 27.Oct 2014

Posted on 27 October 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC has bought a 5 percent stake in IMS Health Holdings, a U.S.-listed technology firm servicing the healthcare sector, for an undisclosed amount, according to a regulatory filing.
GIC Private Ltd bought common stock of IMS Health earlier this month, according to a Securities and Exchange Commission filing on Oct 23. TPG Capital owns about 48 percent of IMS Health, which has a market value of $8.7 billion, Thomson Reuters data shows………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

China is set to invest £105bn in British infrastructure by 2025, with energy, property and transport the biggest recipients, according to research. The world’s second-biggest economy has already invested £11.7bn in Britain between 2005 and 2013, including a 10 per cent stake in Thames Water, Britain’s biggest water utility, held by the China Investment Corporation, the sovereign wealth fund.
This is expected to rise rapidly as Chinese capital seeks a safe haven for outbound investment, according to a report by the London-based Centre for Economics and Business Research and the law firm Pinsent Masons, which is due to be launched by the Chinese International Contractors Association in Beijing next month………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

To ensure that ongoing gas exploration and subsequent planned production benefits the country, the Ministry of Energy and Minerals is to create a Sovereign Wealth Fund (SWF) that will serve as a catalyst for future national development projects fueled by the gas and oil sectors.
Addressing stakeholders at the Tanzania Oil and Gas Conference and Exhibition (TOGACE) mid week in Dar es Salaam, Deputy Minister Masele also announced plans to table a bill in parliament geared at controlling expenditure of revenue collected from natural resources. The Deputy Minister warned that Tanzania may suffer an economic recession should it commit itself to gas production expenditures instead of development projects………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

As Mumtalakat rides high on its recent leap in profits, its chief executive Mahmood Hashim al Kooheji talks about the fund’s plans to step up its international investments and Bahrain’s non- oil sector. One of the smaller and younger sovereign wealth funds in the region, Bahrain’s Mumtalakat has played a key role in developing the Gulf country’s economy. Founded in 2006, it holds stakes in 38 firms, including non- oil stalwarts such as Aluminium Bahrain (Alba) and Bahrain Telecommunications Co (Batelco), for a combined value of $7.2 billion.
The year 2014 started on a distinctive note for the wealth fund as it posted a significant jump in profits 2013 after recording losses for five straight years. Mumtalakat’s gross profit last year rose 135 per cent to reach BD109.4 million compared with a net loss of BD46.5 million in 2012………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

They own Harrods, the Shard and part of Barclays, Sainsbury’s and the London Stock Exchange. Now the Qatari’s look set to get their hands on HSBC’s headquarters in London’s Canary Wharf.
In the week that Qatari ruler the Emir Sheikh Tamim bin Hamad al-Thani visits Britain, the Qatar Investment Authority edged ahead of the Chinese to become preferred bidder for the 656ft tower. With a price tag of £1.1bn the sale would be one of the biggest property deals ever seen in the UK………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), attended a dinner at the French presidential palace, The Elysee. The event marked the inauguration of the Institutional Investor Roundtable (IIR) headquarters with an official invitation from French President François Hollande.
Sovereign wealth fund (SWF) CEOs and French Economy Minister Emmanuel Macron attended the dinner. Prince Alwaleed had earlier attended the inauguration of the Institutional Investor Roundtable (IIR) headquarters in Paris attended by sovereign wealth fund CEOs………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

The Kuwait Investment Authority outlined plans on Thursday to divest its holdings in three domestic listed companies, Kuwait Investment Company, Kuwait Finance House and Zain, saying it would reinvest the proceeds in investment funds.
The $400bn sovereign wealth fund, whose stakes in the three businesses are currently worth more than $5bn, said that it will factor in prevailing market sentiment before proceeding with the proposed share sales………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

The oil-rich Gulf state of Kuwait had accumulated reserves of $US548 billion ($A592.91 billion) as of June 30 after continued growth in the first six months of 2014, a local daily has reported. The reserves are invested in two state funds, the State Reserve Fund with $US149 billion and the Reserve Fund for Future Generations with $US399 billion, Al-Qabas newspaper said on Sunday, citing a report by the Audit Bureau, Kuwait’s state accounting watchdog.
Both funds are run by the Kuwait Investment Authority, the country’s sovereign wealth fund. The report said the reserves had increased by $US15.7 billion in the first six months of 2014………………………………………..Full Article: Source

Posted on 27 October 2014 by VRS |  Email |Print

Sovereign wealth funds constantly make news headlines, buying infrastructure in the UK, acquiring a tech company with a private equity fund or doling out large mandates to established money managers. The perception that sovereign funds are long-term in nature can rightfully be challenged.
Take for instance Ireland’s National Pension Reserve Fund (NPRF) which was allocating chunks of capital left and right to private equity and real estate funds. Post global financial crisis, the NPRF bailed out banks like Allied Irish, forcing the need to liquidate positions with external managers and fund interests………………………………………..Full Article: Source

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