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Sovereign Wealth Funds Briefing 23.Nov 2015

Posted on 23 November 2015 by VRS |  Email |Print

India-focused private equity (PE) firm CX Partners is in talks with four global PE firms to sell its 20% stake worth some Rs.400 crore in surgical equipment maker Sutures India Pvt. Ltd, according to two people familiar with the development.
Malaysian sovereign wealth fund Khazanah Nasional Bhd, Singapore’s sovereign wealth fund GIC, Temasek Holdings Pte and Baring Private Equity Asia are in talks with CX Partners to acquire the stake, said the first person. The enterprise value of Sutures is $300 million (around Rs.2,000 crore), the second person said. Both declined to be named………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

Being set up as a responsible investor was a smart move for New Zealand’s sovereign wealth fund, a report by NZ Super Fund has found. In a “white paper” released on Thursday by the NZ Super Fund, which manages just under $30 billion for the Government, says there is now strong evidence companies that do well on “environmental, social and governance” (ESG) fronts deliver better returns for investors.
These are companies that do not breach human rights, do not abuse the environment, and are well-managed and transparent………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

1MDB is nearing the sale of its power assets to a consortium including Qatar’s Nebras Power and China General Nuclear Power Holding Corp, people familiar with the matter said on Friday, in a deal that would bring relief to the scandal-hit state fund.
1Malaysia Development Bhd (1MDB), currently at the centre of a political and financial scandal that has also embroiled Prime Minister Najib Razak, needs to shed assets to pare back $11 billion of debt. The people declined to disclose the deal value, but a person familiar with the matter previously told Reuters it could value the assets at about RM18 billion ($4.2 billion) including net debt………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

Shanghai-based English language online learning platform TutorGroup has completed US$200 million series C round of financing from Singapore’s sovereign wealth fund GIC, the Russia-China Investment Fund, Goldman Sachs and Silverlink Capital L.P., says an announcement.
Existing investors also participated in the round, which values TutorGroup at over US$1 billion. The company says it will use the proceeds on expanding internationally and growing its existing business platform. TutorGroup also plans to expand its education subjects beyond language learning to other areas such as legal counsel, medical advice, and personal wealth management………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

France’s CMA CGM SA is in exclusive talks to buy Singapore’s Neptune Orient Lines Ltd, as global shipping companies grapple with ways to revive earnings amid a glut of new vessels, shrinking demand and declining prices. A deal would bring together the world’s third-largest container company with Southeast Asia’s biggest container shipper. CMA CGM has until December 7 to complete a due diligence review and negotiate the definitive agreements for the offer, Neptune Orient said in a statement Saturday.
The Singapore-based liner is 67 per cent-owned by state investment company Temasek Holdings Pte. “Temasek has been looking for a buyer for a while now, so if somebody comes along with a price they and NOL are comfortable with, consolidation may be good,” said Song Seng Wun, an economist at CIMB Private Banking in Singapore………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

The world’s largest sovereign investor wants to curtail the big banks’ hold over bond trading. The $860 billion Norwegian sovereign-wealth fund is backing the European Union’s campaign to bring transparency to the bond market and make debt trade more like stocks.
The fund says the current setup — where investors call a bank to get a price — is dysfunctional and should be fixed by forcing the banks to publish their prices. The fund will make reform of Europe’s debt markets one of its priorities, according to Oeyvind Schanke, its chief investment officer for asset strategies. It’s easy to see why………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ, an entity that accumulates and manages the country’s oil and gas revenues, plans to reduce investing in shares on the U.S. stock markets. This was announced by Elnur Babayev, the representative of SOFAZ’s investment department, at a workshop for journalists entitled “State Oil Fund of Azerbaijan: managing of funds and investments.”
He said that SOFAZ will redirect these investments to the shares on the European stock markets. “The reason for SOFAZ’s such a decision was the expected increase in the interest rates in the U.S.,” he said………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

The National Economic Council rose from its monthly meeting on Thursday approving the sharing of $150 million among the three tiers of government. The money is part of the $400 million dividends paid by the Nigerian Liquefied Natural Gas. Vice President Yemi Osinbajo (SAN) chaired the meeting at the State House Council Chambers.
Briefing State House correspondents after the meeting, Governor Rauf Aregbesola of Osun State, flanked by his Enugu State counterpart, Ifeanyi Ugwuanyi, said the Council has also directed that the balance of $250 million from the NNLG dividend be invested in the Nigeria Sovereign Investment Authority………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

Nigeria will inject $250 million into its sovereign wealth fund, an official said on Thursday, making the first contribution since last year as government savings slightly improved despite a plunge in oil prices.
The money will come from recent proceeds from liquid natural gas exports, Rauf Aregbesola, governor of the southern Osun state, told reporters in Abuja. President Muhammadu Buhari, who took office in May, was elected on a campaign to root out oil theft and corruption, which has deepened an economic crisis triggered by the falling price of Nigeria’s oil exports………………………………………..Full Article: Source

Posted on 23 November 2015 by VRS |  Email |Print

The slide in crude oil prices is continuing, and transforming Alaska’s state finances to revenue sources more predictable and sustainable than oil income has taken on more urgency. Year-to-date prices for North Slope crude oil were at an average of $49.98 per barrel as of Nov. 17. That’s since July 1, the start the current fiscal year, and it is $16 per barrel less than the price of $66.03 per barrel predicted by the state last March and used as the basis for budget planning.
Year-over-year production numbers are better, with an increase of about 3.7 percent since the start of the fiscal year through Nov. 15. Daily production in November is averaging about 555,000 barrels per day compared to about 537,000 barrels per day in November 2014………………………………………..Full Article: Source

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