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Sovereign Wealth Funds Briefing 25.Nov 2015

Posted on 25 November 2015 by VRS |  Email |Print

China’s $2.3 billion deal to buy power assets from a debt-ridden Malaysian government-investment fund could give Beijing greater sway in the Southeast Asia nation and pave the way for Chinese companies to win a string of coveted infrastructure deals.
State-owned China General Nuclear Power Corp. agreed to pay 9.83 billion Malaysian ringgit ($2.3 billion) in cash and take on an unspecified amount of debt for a group of power plants from 1Malaysia Development Bhd., or 1MDB………………………………………..Full Article: Source

Posted on 25 November 2015 by VRS |  Email |Print

Abu Dhabi’s investment arm is considering a sale of all or part of chipmaker Globalfoundries Inc. as the emirate explores asset disposals amid a slump in crude oil, people familiar with the matter said.
Sovereign fund Mubadala Development Co. has held early talks with potential acquirers, the people said, asking not to be identified as the information is private. No final decision has been made and discussions could still fall apart, the people said. A transaction could value the business at $15 billion to $20 billion, the people said………………………………………..Full Article: Source

Posted on 25 November 2015 by VRS |  Email |Print

One of the biggest shareholders in Royal Dutch Shell has thrown its weight behind the oil group’s £43 billion takeover of BG Group, despite mounting concerns about the impact of plunging oil prices on the commercial logic that underpins the deal.
The Qatar Investment Authority, the sovereign wealth fund that holds a stake of up to 2 per cent in the Anglo-Dutch group and also is a shareholder in BG, is understood to be “fully supportive” of the proposed transaction, which was announced in April. The tie-up, which has been approved by Brazilian and European antitrust authorities, is awaiting clearance………………………………………..Full Article: Source

Posted on 25 November 2015 by VRS |  Email |Print

Ireland’s government will take several billion dollars out of the Ireland Strategic Investment Fund, the country’s sovereign wealth fund (SWF), over the next five years to spend on helping boost the Irish economy, the Financial Times reports.
The fund, which has $8.4 bn in investable assets, will withdraw funds from global investment managers but continue to invest with asset managers that have funds focused on Ireland and in other areas it considers will help the Irish economy, the newspaper reports, citing fund director Eugene O’Callaghan………………………………………..Full Article: Source

Posted on 25 November 2015 by VRS |  Email |Print

Among state-owned investors, sovereign wealth funds (SWFs) play an especially prominent role, with investable assets estimated at over $4 trillion and growing faster than any other institutional investor group.
The rapid rise of SWFs begs a question: can state-sponsored funds, such as SWFs, ever act as objective, commercially driven long-term global investors, managing their nation’s wealth as investment fiduciaries of their citizens? Our paper addresses this issue by studying the impact of SWF investment on firm value………………………………………..Full Article: Source

Posted on 25 November 2015 by VRS |  Email |Print

The MS analysts begin by highlighting that both media reports and some management commentary have suggested that certain “petrodollar-related” sovereign wealth funds have been withdrawing billions of dollars from asset managers because of growing national deficits and to minimize exposure to volatile equity markets given much lower crude oil prices.
Cyprys et al. argue that these SWF redemption concerns are really overblown given that only 60% of SWF assets are held by oil-reliant economies, and, moreover, current fiscal pressures vary dramatically………………………………………..Full Article: Source

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