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Sovereign Wealth Funds Briefing 05.Nov 2014

Posted on 05 November 2014 by VRS |  Email |Print

Qatar’s sovereign-wealth fund is gearing up to invest $15 billion or more across Asia, and plans to team up with China’s Citic Group as it pursues infrastructure and other investment.
The chief executive of Qatar Investment Authority, Ahmad Mohamed Al-Sayed, told reporters in Beijing on Tuesday that the sovereign-wealth fund aimed to spend $15 billion to $20 billion across the region in the next five years, in industries including health care, infrastructure and real estate………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

The Qatar Investment Authority (QIA), one of the world’s most aggressive investors, has signed an agreement on Tuesday with CITIC Group Corp to launch a $10 billion fund that will invest in the region, the chief executive of the Qatari sovereign wealth fund said.
QIA, which is estimated to have around $170 billion, and state-owned conglomerate CITIC Group signed a memorandum of understanding to launch the 50-50 investment fund, QIA Chief Executive Ahmed Al-Sayed said at an investment conference in Beijing………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Qatar’s sovereign wealth fund and one of the world’s most aggressive investors, Qatar Investment Authority, is keen to invest in China’s property, infrastructure and healthcare sectors, Chief Executive Ahmed Al-Sayed said on Tuesday.
The fund, which is estimated to have around $170 billion, also plans to invest between $15 billion and $20 billion in Asia in the next five years, Al-Sayed said………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

The fall of crude oil prices points to the need for Saudi Arabia to have an active sovereign wealth fund, said Prince Alwaleed bin Talal, chairman of Kingdom Holding Co. This will be similar to the sovereign funds in Kuwait, Abu Dhabi and Norway, he said.
“Clearly the income from our sovereign wealth fund would not cover all our budget, but at least should cover a good size of it,” said the prince. ddressing reporters in Jeddah, he also said that the fall of oil below $80 a barrel proves that Saudi Arabia’s reliance on petroleum revenue is “dangerous”………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Persian Gulf investors from sovereign wealth funds to rich individuals increased spending on U.S. real estate, attracted by the pace of economic growth, a survey by Jones Lang LaSalle Inc. showed. Gulf Cooperation Council countries invested $1 billion in U.S. property this year, a 51 percent gain over the year-earlier period, according to the survey released in Dubai.
Wealth funds and institutional investors are spending more on real estate to diversify their holdings, Jones Lang said……………………………………….Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Singapore state investment firm GIC Private Ltd.’s move to bid on a Blackstone Group-backed real estate investment trust runs somewhat counter to a shift away from direct real estate investing among sovereign wealth funds.
A new report from Sovereign Wealth Center, part of publishing and events company Euromoney Institutional Investor PLC, found that sovereign funds this year moved away from direct investment in real estate in favor of deals in other industries such as technology………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

GIC, the Republic’s sovereign wealth fund, is leading a consortium in negotiations to buy IndCor Properties from United States private equity giant Blackstone Group in a deal valued at about US$8 billion (S$10.3 billion), sources familiar with the matter said.Chicago-based IndCor, formed in 2010 as a portfolio company of Blackstone, holds warehouses and distribution centres across the US, said the company’s website.
“Talks are still ongoing. We don’t know whether there will be a deal yet,” said one source, who declined to be identified as the discussions remained confidential. A spokeswoman for GIC declined to comment, while Blackstone had not replied to an email seeking comment by press time………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Blackstone Group LP is close to a deal to sell IndCor Properties Inc., an owner of U.S. industrial real estate, to investors led by Singapore’s GIC Pte for more than $8 billion, said two people with knowledge of the matter.
The GIC partnership is seeking $5 billion in debt to finance the acquisition, said one of the people, who asked not to be identified because the negotiations are private. The two sides have reached an agreement in principle that could still fall apart, another person said………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Singapore’s Temasek and GIC were the most active sovereign wealth funds last year, chasing investments even as deal-making by their peers, especially China, dropped sharply, according to a new report.
GIC and Temasek made 40 and 38 direct investments respectively, for a combined total of $14.3 billion, accounting for around 34 percent of the total allocations by sovereign funds, the Sovereign Wealth Center (SWC) said in a report………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Penang has warned 1Malaysia Development Bhd (1MDB) that it will be an uphill task to gain planning approvals for its development project on the 234 acres land if it deviates from its promise to build affordable housing there.
Penang Chief Minister Lim Guan Eng said the sovereign wealth fund will also face difficulties due to unresolved squatter issues on the land. “I want to warn 1MDB that we will not allow them to throw out the present land tenants for a project other than affordable homes,” he said………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

With 1Malaysia Development Bhd (1MDB) yet to submit its financial statements as required under the law, a DAP lawmaker has questioned whether the sovereign fund will change its auditors again.
Tony Pua (DAP - Petaling Jaya Utara) said as of yesterday, the company and its subsidiairies did not submit their financial statements to the Companies Commission despite the October deadline. The wealth fund last submitted the March 2013 statements in April this year, after a seven-month delay and a change of auditors from Ernst & Young to Deloitte Malaysia………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Sovereign wealth fund chief says he plans to increase A-share exposure, reports Bloomberg.Once a year, the man running the world’s biggest sovereign wealth fund travels around China for a week.
Though assets from the country make up only about 1.5 percent of the $860 billion Norwegian wealth fund’s portfolio, Yngve Slyngstad, its chief executive officer, said almost all investment decisions are affected by what happens in China………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Kazakhstan is among the top oil and gas producers in the world and Kazakhstan depends much on its oil and gas revenues. The large part of these revenues are saved in the State Petroleum Fund for future generations. It accumulated $93.9 billion as of 2014. This Fund allows to stabilize the national economy and its resources in theory could be used for implementation of strategic projects in case of low revenues from oil export.
Earlier Kazakh President Nursultan Nazarbayev gave permission to use money from the National Fund for development of the national economy. This decision is not connected with oil prices because it was it taken long before when they were at high level. Thus any strategic projects will have enough money and will be implemented………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

Hungarian delegation visits SOFAZ. The Hungarian delegation also met with Executive Director of the Azerbaijani State Oil Fund (SOFAZ) Shahmar Movsumov.
The sides discussed the current state and prospects of economic cooperation between Azerbaijan and Hungary. They also exchanged views on opportunities for SOFAZ’s making investment in Hungary………………………………………..Full Article: Source

Posted on 05 November 2014 by VRS |  Email |Print

The shine may be wearing off for high-end real estate investments by sovereign wealth funds, according to a new report, a consequence of perceived market frothiness and increased competition for property assets. Sovereign wealth funds collectively closed $5.9 billion in real estate deals in the first half of this year, according to the report from Institutional Investor’s Sovereign Wealth Center. That was a 43% decline in value compared to the same period last year.
Sovereign funds, some of the largest of which are based in the Middle East, have become major players in real estate in recent years. Funds from Abu Dhabi and Singapore, for example, were the main backers of the $1.3 billion purchase early this year of the Time Warner headquarters building in New York………………………………………..Full Article: Source

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