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Sovereign Wealth Funds Briefing 09.Oct 2015

Posted on 09 October 2015 by VRS |  Email |Print

From Oslo to Doha, Riyadh to Moscow, governments that rode crude’s historic rise to unprecedented wealth are now being forced to start repatriating their rainy-day funds just to make ends meet.
The halving of oil to less than $50 a barrel has the potential to alter one of the most powerful economic and political forces of the past half century: the rise of the petrostate. These countries led a surge in state investments in the U.S. and Europe that now totals about $7.3 trillion globally, according to the Sovereign Wealth Fund Institute………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

All those who believe that the collapse in international commodity prices will be an untrammelled advantage for India would do well to look at what has been happening in the major commodity exporting countries. The sharp decline in revenues has put public finances in these countries under pressure. One logical response has been to pull money out of sovereign wealth funds to maintain public spending.
India could be hit to the extent that these sovereign wealth funds sell emerging market equities in general and Indian equities in particular. The process could already have begun. Norway has said this week that it will dip into its sovereign wealth fund to plug a growing budget hole thanks to the steep decline in global crude oil prices………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

A Chinese sovereign wealth fund has purchased nine Australian office towers in what is reported to be the biggest-ever direct real estate transaction in Australia’s history. Firms: Allens (Morgan Stanley Real Estate Investing and Investa Property Group); Clayton Utz (China Investment Corporation). Deal: China Investment Corporation purchased nine office towers from Investa Property Group.
Deal significance: Chinese sovereign wealth fund China Investment Corporation outbid multiple global real estate investors to secure nine premium office towers from Investa Property Group; seven in Sydney, one in Brisbane and one in Melbourne………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

Henry Cai, former Asia-Pacific chairman of corporate finance at Deutsche Bank AG, has raised $650 million for a new $1 billion private-equity fund that will invest in industrial companies in German-speaking countries seeking to grow their China operations.
The sovereign wealth fund China Investment Corp. and insurance companies are among the investors that have already committed funds, said Cai, 60. The AGIC Group fund should reach the target size of $1 billion by the end of the year, after a second round of capital raising among investors in the Middle East and Europe, Cai, the fund’s chairman, said in a telephone interview on Thursday………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

The sovereign wealth fund which rescued crisis-hit Malaysia Airlines has hit on the Shard as it plants its flag in western Europe for the first time, the Evening Standard has learned. Malaysia’s Khazanah Nasional Berhad choice to rent space in the Shard (at 310m the tallest building in western Europe), is a further display of its love of skyscrapers — its main base in Kuala Lumpur is the Petronas Towers, until 2004 the tallest building in the world.
The arrival of the Malaysians, who had 145.5 billion ringgits (£23 billion) of assets under management last year, will come as a shot in the arm to the property world as the fund looks to diversify its holdings away from Malaysia, China, India, and the US………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

AXA Investment Managers, the asset management unit of AXA SA, appointed Tom Clapham as head of sovereign wealth funds and central banks in Asia. Clapham will be based in Hong Kong and report to Terence Lam, head of sales and marketing in Asia as well as to Pierre De Bonneville, head of sovereign and supranational entities.
Clapham joins AXA Investment Managers from Macquarie Securities Group, where he was director of institutional sales………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

The sovereign wealth fund of Qatar has reportedly joined investors expressing an interest in buying a minority stake in Glencore’s agricultural business, which deals in commodities such as wheat, cotton, soybeans and sugar.
Bloomberg cited people familiar with the matter as saying that talks are in the preliminary stage and a sale could take as long as six months. Qatar Holding, which is the direct investment arm of the state’s sovereign wealth fund, is already the largest investor in the London-listed commodities trader with an 8.9% stake………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

Norway’s Norges Bank Investment Management, which runs the world’s largest sovereign wealth fund, will target prime Tokyo office buildings as it starts to invest in Japan, the fund’s chief investment officer for real estate said on Thursday.
The fund, built on Norway’s oil and gas revenues with $880 billion in assets, will seek local partners to co-invest in Tokyo, said Karsten Kallevig, speaking in an interview as the fund launched operations in Tokyo. The fund’s operational rules were only recently changed to permit property investments outside Europe………………………………………..Full Article: Source

Posted on 09 October 2015 by VRS |  Email |Print

Fitch Ratings has affirmed Kazakhstan-based JSC Sovereign Wealth Fund Samruk-Kazyna’s (SK) Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB+’, Long-term local currency IDR at ‘A-’, National Long-term rating at ‘AAA(kaz)’ and Short-term foreign currency IDR at ‘F2′.
The Outlooks on the Long-term ratings are Stable. Fitch has also affirmed SK’s senior unsecured domestic bonds at Long-term local currency ‘A-’ and at National Long-term ‘AAA(kaz)’. The affirmation of the IDRs and senior debt ratings reflects SK’s unchanged strategic importance, and its special legal status as a sovereign wealth fund and the state’s key asset management company, 100% owned by Kazakhstan (BBB+/A-/Stable)………………………………………..Full Article: Source

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