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Sovereign Wealth Funds Briefing 10.Feb 2015

Posted on 10 February 2015 by VRS |  Email |Print

U.S.-based LaSalle Investment Management Inc. and sovereign-wealth fund China Investment Corp. have teamed up to buy the Meguro Gajoen commercial property complex in Tokyo for around ¥140 billion ($1.2 billion), according to a person familiar with the transaction, the latest sign of renewed strength in the city’s property market.
The purchase was made in late January by a joint venture with a sovereign-wealth fund, LaSalle Investment Management said in a statement Monday, without naming CIC or the price tag. A spokeswoman for LaSalle in Japan declined to comment on the identity of the sovereign-wealth fund or the acquisition cost. CIC didn’t respond to a request for comment………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

DAP National Publicity Secretary Tony Pua has accused 1Malaysia Development Berhad (1MDB) and Jho Low of hiding the truth from Malaysians regarding the latter’s apparent non-involvement in the government’s sovereign wealth fund. Quoting an expose by the New York Times and more shocking revelations by the Sarawak Report that showed otherwise, the MP for Petaling Jaya Utara said, “it is now clear that both Jho Low and 1MDB have at best, been economical with the truth. At worst, they are lying through their teeth to Malaysians.
In the NYT expose, three people who had regular dealings with 1MDB said Low was “regularly consulted”, something Pua pointed out, that Low himself had admitted to when he agreed he was consulted from “time to time and without receiving compensation”………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

Singapore state fund Temasek Holdings is a frontrunner to buy a $200-million stake in the about to be demerged consumer products business of India-based Crompton Greaves, which is controlled by billionaire Gautam Thapar, a media report said, quoting ‘multiple sources directly familiar with the matter’.
According to the Times of India, the Singapore fund has entered into exclusive negotiations with Crompton Greaves’ promoter, to acquire around 20 per cent stake in the company, ahead of rivals such as General Atlantic Partners and Bain Capital………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

The contribution of oil revenues to the UAE’s GDP is set to drop from around 30 per cent at present to only five per cent by 2021, the country’s deputy PM said on Monday. Speaking at the Government Summit in Dubai, Sheikh Saif bin Zayed, who is also the UAE’s Interior minister, said that the current drop in oil prices was a “challenge, but not a crisis.”
Sheikh Saif stressed that the country was diversifying into sectors such as investment – through institutions such as sovereign wealth fund ADIA, and into developing its human resources. “While oil is considered the wealth of a country, our true wealth lies in investing in the mind, investing in the education of our children,” he said………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, on Monday announced it has acquired a significant minority equity interest in Oman-based A’Saffa.
A’Saffa Foods, formerly A’Saffa Poultry Farms, was established in 2001 and is the largest integrated poultry project in Oman, Hassad said in a statement. Over a 40 sq km farm area in Thumrit, southern Oman, the project produces fresh and frozen poultry meat products………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) announced growth of its assets by 3.42% in 2014. According to the Fund, last year SOFAZ assets grew from $35.877 bn up to $37.104 bn. Budget revenues of SOFAZ for 2014 reached AZN 12.731 bn, while budget expenditures constituted AZN 10.117 bn. In other words, SOFAZ budget was executed with surplus of AZN 2.613 bn.
According to the Fund, revenue of AZN 12.343 bn was received from implementation of oil and gas agreements, including AZN 12.319 bn from the sale of profit oil and gas, AZN 1.7 million as acreage fees, AZN 8.9 million as transit payments, AZN 13.3 million as bonus payments and AZN 0.1 million from the sale of assets received from foreign companies. The revenues from managing assets of the Fund for 2014 amounted to AZN 387.2 million………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ which is in charge of accumulating and managing the country’s oil and gas revenues, announced about the increase in its assets. The fund reported that its assets increased by 3.42 percent as of January 1, 2015, compared to $35.877 billion in early 2014 and exceeded $37.104.
SOFAZ revenues totaled 12.731 million manats while budget expenditures constituted 10.117, 2 billion manats. Revenue of 12.343, 8 billion manats was received from the implementation of oil and gas agreements, including 12.319, 8 billion manats from the sale of profit oil and gas, 8.9 million manats as transit payments, 13.3 million manats as bonus payments………………………………………..Full Article: Source

Posted on 10 February 2015 by VRS |  Email |Print

Norway’s Government Pension Fund Global revealed those companies it divested from in 2014, judging “there to be high levels of uncertainty about the sustainability” of these companies’ business models. Yngve Slyngstad, CEO of Norges Bank Investment Management, the Norwegian bank which manages the country’s Government Pension Fund Global, commented on its decisions in a press release announcing a report investigating responsible investment in 2014:
“Our aim with this report is to provide a full overview of the many different areas we are working on and so increase transparency on the management of the fund. We recognise that there is still much to be done, and that we will encounter a number of challenges in the years ahead. Our role is to think long-term and protect value for future generations.”……………………………………….Full Article: Source

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