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Sovereign Wealth Funds Briefing 18.Nov 2015

Posted on 18 November 2015 by VRS |  Email |Print

Indian Finance Minister Arun Jaitley on Tuesday invited sovereign wealth funds of the UAE to invest in National Infrastructure and Investment Fund (NIIF), saying it will provide good return. NIIF will attract good return on the investment made by the Sovereign Wealth Funds, the Finance Ministry said in a statement.
“It’s a great opportunity for UAE Sovereign Wealth Funds and Pension Funds to make best use of it and make big investment in India,” it said. Abu Dhabi Investment Authority, or Adia, has shown keen interest in making investment on NIIF……………………………………….Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Abu Dhabi Investment Authority (ADIA), a $770 billion sovereign wealth fund of the Emirate of Abu Dhabi, has expressed interest in investing in the Rs 20,000 crore National Infrastructure Investment Fund (NIIF) being set up by the government.
Officials of the wealth fund will be visiting India on Thursday to take the discussions on investments further, ADIA managing director Shiekh Hamed Bin Jayed al Nahyan told finance minister Arun Jaitley during a meeting between the two in Abu Dhabi. Jaitley who is on a two-day visit to the United Arab Emirates (UAE) to attract investments had extended the invitation to ADIA for participating in the fund……………………………………….Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Answer the questions on the USDD69 million (RM300 million) proceeds that the Yurus Private Equity Fund earned in less than six months, Kelana Jaya MP Wong Chen has urged 1MDB-DuSable. This comes following the recent Wall Street Journal (WSJ) report that the investor in the Yurus Private Equity Fund is Aabar Investments PJS, a subsidiary of Abu Dhabi sovereign-wealth fund International Petroleum Investment Co (IPIC).
“This revelation is worrying as it raises questions whether the USD$69 million deal was done at an arms-length basis,” he said, referring to how IPIC is currently involved in a USD3.5 billion financing deal to help 1MDB’s rationalization scheme. He wants 1MDB-DuSable to confirm the WSJ report on whether IPIC is the main investor and whether the deal was done at an arms-length basis, and asked them to disclose how much money DuSable made from the deal………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Bahrain’s sovereign wealth fund is likely to invest in an European building materials producer. Mumtalakat reportedly intends to buy 49% stake in Spain’s Aleastur. The Spanish firm is a producer of aluminium products, and also works within the steel sector.
Joseph Kirikian, head of industries and services at Mumtalakat, said the investment comes in light of Aleastur’s expansion plans. “We are taking a minority stake and helping the company to expand into the Gulf,” Kirikian said, according to Reuters. While he did not reveal the total value of the investment, Kirikian said he hopes the deal would “close soon”………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Oman-India Joint Investment Fund (OIJIF) is planning to raise a total US$300mn for its second investment vehicle. The fund, a 50:50 joint venture between sultanate’s sovereign wealth fund State General Reserve Fund (SGRF) and India’s largest lender State Bank of India (SBI), has already recieved commitments from both the anchor investors for US$200mn for the new fund, Indian newspaper the Economic Times reported on Monday.
“We are in talks with several reputed third-party institutional investors based in India and abroad. We target to make a first close in first quarter 2016,” said Srinath Srinivasan, CEO of OIJIF. OIJIF’s first vehicle did not raise money from outside investors………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Australia’s sovereign wealth fund, the Future Fund, has “missed out” on US$1.5 billion (AU$2.2 billion) over the past three years by not divesting from carbon-exposed companies. According to the Clean Capitalist Decarbonizer tool, launched by Corporate Knights, together with 350.org using carbon data from the South Pole Group, the fund could have grown its revenue by US$1.5 billion by divesting from carbon-intensive companies and investing in companies that provide “environmental solutions”.
The finding was reached after Corporate Knights analysed the most-recently disclosed holdings of the Future Fund (as well as 13 other prominent funds, including the Australian National University), and estimated the potential financial impact of shifting their investments from “the world’s largest fossil fuel companies” (and utilities that rely on coal for more than 30 per cent of their electricity generation), to companies that derive at least 20 per cent of their revenues from environmental markets of new energy………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

The police are unable to determine the whereabouts of several individuals allegedly involved in the 1Malaysia Development Berhad (1MDB) scandal. They are businessman Low Taek Jho, also known as Jho Low, Mr Casey Tang, Ms Jasmine Loo, Mr Nik Faisal Ariff Kamil and Mr Yusof Annuar Yaacob.
“The police cannot trace and determine the whereabouts of these individuals. At the same time, no application has been received from any parties seeking Interpol’s help to trace these individuals,” said the Home Ministry in a written reply to opposition Parti Keadilan Rakyat MP Wong Chen………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

Stats ChipPac, Southeast Asia’s largest semiconductor assembler, is seeking to refinance $400 million of debt in the first test of its credit strength without the support of Temasek Holdings, following the exit of Singapore’s state fund from the firm.
Bloomberg reported that the chip packaging and testing company intends to raise funds from the sale of dollar-denominated bonds due in five years, as part of an effort to partially repay a $890-million bridge loan, CFO Woo Kwek Kiong said in an e-mail interview with Bloomberg. Currently, the firm is seeking a $500-million syndicated loan to pare the bridge loan from DBS Group Holdings………………………………………..Full Article: Source

Posted on 18 November 2015 by VRS |  Email |Print

PFZW, a Dutch pension fund with 161 billion euros ($172 bln) of assets under management, said on Tuesday it will sell down investments in companies with relatively high carbon dioxide emissions. PFZW is the latest high-profile investor to cut exposure to fossil fuel-linked investments this year.
California passed a bill in September requiring the state’s two largest pension funds to divest from coal. Norway’s sovereign wealth fund, the world’s largest, said in February it would divest from thermal coal companies. ABP, the largest Dutch pension fund, said in October it would exit all investments that don’t meet “sustainability” criteria by 2020………………………………………..Full Article: Source

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