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Sovereign Wealth Funds Briefing 06.Nov 2014

Posted on 06 November 2014 by VRS |  Email |Print

Total assets of Saudi Arabia’s main sovereign wealth fund, SAMA Foreign Holdings (SAMA), have jumped 9 percent since January, allowing it to maintain its position as the world’s third-largest, according to a report by the Sovereign Wealth Fund Institute (SWFI).
In its most recent ranking of global sovereign wealth funds, the Washington-based SWFI said SAMA’s total assets had risen to 737.6 billion US dollars in October, up 9 percent from 675.9 billion dollars in January. However, Dr. Ali Al-Tuwati, an economics professor at the King Abdulaziz University in Jeddah, told Asharq Al-Awsat that SAMA’s position in the rankings would likely fall next year if global oil prices did not stabilize………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Korea Investment Corp., the nation’s sovereign wealth fund, will join hands with Qatar’s counterpart to make investment together. The Korean sovereign wealth fund based on foreign currency reserves said on November 5 that is signed a memorandum with the Qatar Investment Authority to form a joint investment fund.
The two sovereign wealth funds will chip in US$1 billion each to create a $2-billion fund while establishing a joint management committee to oversee it. Committee meetings will be held once a year either in Seoul or Doha………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Kuwait Investment Authority is backing a new London-based property investment group Cale Street Partners with €1.2bn, aimed at building the sovereign wealth fund a new platform for real estate lending in Europe.
Cale Street was established in July by former Goldman Sachs’s global real estate principal investment head Edward Siskind, according to company filings. Just weeks later a separate entity, Cale Street Holdco Ltd, was established, whose board includes Martin Dore and Charles Magnay from KIA’s London-based investment arm, Kuwait Investment Office………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Norway’s $860 billion sovereign wealth fund, the world’s largest, is expanding its securities lending to new markets where it also plans to provide liquidity as part of a strategy to generate higher returns.
“We already have a security lending program, but we will expand that into more types of specific liquidity commissioning strategies,” Yngve Slyngstad, chief executive officer of the Oslo-based fund, said during a seminar today. “We will come back to the details about that later.”……………………………………….Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC is making its foray into the New Zealand real estate sector with an investment in a major Auckland waterfront precinct. GIC is taking a 49 per cent stake in a joint venture with New Zealand-listed Goodman Property Trust (GMT), which holds the other 51 per cent of the partnership.
The joint venture will invest in Auckland’s Viaduct area with an initial portfolio of assets worth NZ$313 million (S$313 million), said GIC and GMT’s manager Goodman (NZ) in a joint statement………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Sunway Bhd shares worth RM482mil that were owned by GIC Pte Ltd have been traded in an off-market deal. According to stock market data, a total of 150.6 million Sunway shares changed hands yesterday at RM3.20 each.
Sunway share price closed at RM3.23, a 12 sen or 3.6% drop, with 1.67 million shares traded. Reuters reported that GIC, Singapore’s sovereign wealth fund, which owns a 8.7% block in Sunway, had hired CIMB and JP Morgan as the joint bookrunners for the sale of Sunway shares………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

Khazanah Nasional Bhd is still evaluating the form of compensation it will hand out to the 6,000 staff of Malaysia Airlines (MAS) who will be laid off in an ambitious restructuring exercise to bring the ailing national carrier back to profitability, said Prime Minister Datuk Seri Najib Razak.
He said the national investment firm is still waiting for the results of a talent evaluation programme that is being conducted by MAS before it can make a decision on the matter. “Apart from a retrenchment scheme, Khazanah is currently evaluating other schemes that can be considered to make sure the best talents are given incentives and remain in ‘MAS Baru’,” he said in a written parliamentary reply to PKR’s Kelana Jaya MP Wong Chen………………………………………..Full Article: Source

Posted on 06 November 2014 by VRS |  Email |Print

The establishment of a new €6.8bn (£5.3bn) Irish strategic investment fund is expected to be of interest to national and international investors and fund managers and also Irish companies and operators in a range of sectors.
Once established, this new Irish government fund will make investments that fulfil the dual objectives of achieving a commercial return and supporting economic growth and employment in Ireland. It also seeks to attract private sector co-investment………………………………………..Full Article: Source

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