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Sovereign Wealth Funds Briefing 02.Dec 2015

Posted on 02 December 2015 by VRS |  Email |Print

A group led by property investor Asia Pacific Land (APL) has put an aged but large office building in central Tokyo on sale, expecting to fetch more than 160 billion yen ($1.3 billion). APL acquired the Shiba Park Building in 2013 for more than 125 billion yen along with U.S. insurance magnate Maurice “Hank” Greenberg, the Abu Dhabi Investment Council and Hong Kong-based alternative investor PAG.
Global sovereign wealth funds are expanding their presence in Tokyo as they seek stable returns from a city whose vacancy rates are falling and where office rents are expected to grow further. Last year Singapore’s sovereign wealth fund GIC Pte bought a Tokyo high-rise office tower for about 170 billion yen. Earlier this year sovereign wealth fund China Investment Corp provided most of the capital for a more than 100 billion yen acquisition of an office and retail complex in Tokyo………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

The RAC has a new private equity owner after CVC, the European buyout group, bought out Carlyle’s stake in the roadside recovery company. The investment will be CVC’s first using a separate fund it has raised for holding longer-term stakes in companies — a sign of the future direction of the buyout industry.
GIC, the Singaporean sovereign wealth fund that bought almost half of RAC last year from Carlyle, will retain its stake under the transaction. While Carlyle had been looking to list the RAC before GIC acquired its stake last year, “the opportunity here for us was to monetise our investment, and not to float and wait to realise liquidity over a longer period,” Andrew Burgess, a managing partner at Carlyle, said………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

Government has allocated $1 million to the Sovereign Wealth Fund (SWF), in a bid to kick-start the national resource pool aimed at empowering citizens. In his 2016 budget statement, Finance minister Patrick Chinamasa said the initiative — set to support macroeconomic stabilisation, including long-term economic and social development objectives — was going to be financed by mining royalties.
“In terms of the Sovereign Wealth Fund Act, the fund will be financed through a charge of up to 25 percent on royalty collections on mineral sales, as well as on special dividend on the sale of diamond, gas, granite and other minerals………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

Tony Blair took the chairman of Manchester City to meet senior officials in China two years before the country bought a large stake in Britain’s richest football club. The former prime minister introduced Khaldoon Al Mubarak to high-level contacts in 2013, raising the possibility that he laid the groundwork for a £265 million investment deal announced on Tuesday by the club.
Blair, who advises an Abu Dhabi sovereign wealth fund, is estimated to be worth in the region of £60 million earned on the back of lucrative consultancy deals set up since leaving Downing Street in 2007. He has separately lobbied the Treasury on UAE’s behalf as Abu Dhabi United Group, Manchester City’s owner, was attempting to secure a £1 billion property deal in Manchester………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

The collapse in the price of oil has compounded the problems for Aberdeen Asset Management, with Europe’s third-largest listed fund house reporting its 10th consecutive quarter of net fund outflows.
The Scottish-based asset manager, which specialises in emerging market and Asian funds, has been battling with investor nervousness over the continued turmoil in those regions, but net redemptions have been exacerbated by oil-producing countries pulling money from their wealth funds to make up for a loss of export earnings………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

Norway’s sovereign wealth fund put pen to paper on a $1.56B contract for a 44% share in Trinity Real Estate’s 11-building Hudson Square portfolio. The 75-year contract values the church’s 5M SF portfolio at $3.55B. It’s expected to close by the end of the year, The Real Deal reports. The partnership with Trinity Church expands Norges Bank Investment Management’s US commercial real estate portfolio.
The fund is already one of the biggest foreign buyers of US real estate in the world, making two major acquisitions earlier this year with a 45% interest in the Citigroup Center on Manhattan’s Lexington Avenue for $725M, followed by a 49% stake in 11 Times Square………………………………………..Full Article: Source

Posted on 02 December 2015 by VRS |  Email |Print

Temasek Holdings Private Ltd decreased its stake in Thermo Fisher Scientific Inc by 45% based on its latest Q3 2015 regulatory filing with the SEC. Temasek Holdings Private Ltd sold 2.37M shares as the company’s stock declined 6.53% with the market.
The institutional investor held 2.90 million shares of the industrial machinery and components company at the end of Q3, valued at $354.53M, down from 5.27 million at the end of the previous reported quarter. Temasek Holdings Private Ltd who had been investing in Thermo Fisher Scientific Inc since many months, could be less bullish the $55.95B market cap company. (Press Release)

Posted on 02 December 2015 by VRS |  Email |Print

China’s accession to the International Monetary Fund’s elite has left behind India, whose cautious approach to liberalization means the rupee is unlikely to be a viable candidate for reserve currency status for at least a decade.
China has campaigned hard for inclusion in the benchmark currency basket, and the IMF’s announcement on Monday that the yuan had been added was recognition of its global power status. Beijing has introduced a flurry reforms to ensure the yuan was considered “freely usable” in IMF parlance, meaning widely used in international transactions and commonly traded………………………………………..Full Article: Source

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