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Sovereign Wealth Funds Briefing 17.Feb 2015

Posted on 17 February 2015 by VRS |  Email |Print

Abu Dhabi Investment Authority, the world’s second-biggest sovereign wealth fund, and London & Regional Properties Ltd. have bid for the former headquarters of UniCredit SpA in Milan, according to two people familiar with the matter.
Offers were between 280 million euros ($319 million) and 320 million euros, said the people, who asked not to be identified because the matter is private. ADIA is bidding with local partner Hines Italia SpA against U.K.-based London & Regional which is working with Milan-based real estate manager Prelios SpA, the people said………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Seeking higher investment yields in recent times, Abu Dhabi Investment Authority (ADIA) has largely bypassed London properties to focus more on Continental European opportunities. The Gulf-based sovereign wealth fund invests in both developed properties and in construction projects - unafraid of developmental risks.
For example, a sovereign wealth enterprise of ADIA is backing a project to construct the Mall of Switzerland near Lucerne. In May 2014, ADIA took a 14.3% stake in Deutsche Annington which owns around 180,000 residential units across Germany……………………………………….Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Oil prices have crashed from over $100 to sub-$60 a barrel in just five months. While this is good news for consumer countries, it also means only half the revenue for the energy producers, especially the Gulf Cooperation Council (GCC) countries. Hydrocarbon incomes are set to reduce from $743 billion in 2012 to about $410 billion in 2015. The bloc may, therefore, record a current account deficit for the first time since the late 1990s.
A massive sovereign wealth fund and billions in a ‘future generations fund’ means Kuwait plans to spend $155 billion on projects over the next five years despite the oil price plunge. And, Qatar’s infrastructure projects pipeline is set to soar with $30 billion worth of new project deals in 2015………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Temasek Holdings sold shares in Alibaba Group Holding in the fourth quarter as the Chinese Internet firm’s shares rallied following its initial public offering in September. The Singapore investment firm sold 7.3 million American Depositary Receipts (ADR) in Alibaba, leaving it with 10.7 million shares, according to a filing with the US Securities and Exchange Commission (SEC).
The value of Temasek’s holding in Alibaba declined by US$487.5 million (S$660 million), the biggest decrease among the firm’s US-listed holdings. “They must have made about US$300 million through that sale,” said Mr Enrico Soddu, an analyst at Institutional Investor’s Sovereign Wealth Centre in London………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Singapore state investor Temasek Holdings and JTC Corp, a government agency for infrastructure development, agreed to combine four of their real estate and urban planning units, to capitalise better on rapid urbanisation in emerging markets.
The merged group’s value would be worth about S$5 billion ($3.7 billion) based on the underlying entities, the two firms said. JTC’s Ascendas Pte and JURONG International Holdings Pte Ltd (JIH) will combine with Temasek’s Surbana International Consultants Holdings and Singbridge Group. The merger is expected to be completed within the first half of this year………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Investment giant Temasek Holdings and industrial developer JTC Corp yesterday said they had entered into an agreement to merge four of their operating subsidiaries into a mega-entity worth about S$5 billion to tap opportunities from rapid urbanisation across Asia.
Plans for the merger, a bid to build scale and capacity to take on urban solutions and infrastructure projects in Asia and other markets, were first announced last September. Besides the estimated value revealed yesterday, more details about the new corporate structure were also unveiled………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

Beijing has launched its US$40 billion Silk Road infrastructure fund along the lines of a long-term private equity venture to boost businesses in countries and regions along the route, the central bank governor said. The announcement serves as a prelude to the publication of a blueprint that sheds light on the country’s ambitions to create the New Silk Road economic belt and the 21st-century maritime Silk Road.
The fund’s investors included China’s foreign-exchange reserves, Export-Import Bank of China, China Development Bank and the country’s sovereign wealth fund, the PBOC said………………………………………..Full Article: Source

Posted on 17 February 2015 by VRS |  Email |Print

1Malaysia Development Bhd (1MDB) non-executive director Tan Sri Ong Gim Huat is not just a friend, but also a business partner of 30 years of Tan Sri Larry Low Hock Peng. L‎ow is the father of Jho Low or Low Taek Jho, who is said to have influence over the operations of debt-laden 1MDB, the controversial sovereign wealth fund owned by the Ministry of Finance.
Companies Commission of Malaysia (CCM) documents show that Ong and Low are directors and shareholders of Wonder Bay Sdn Bhd, a Penang based property development company………………………………………..Full Article: Source

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