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Sovereign Wealth Funds Briefing 15.Jul 2016

Posted on 15 July 2016 by VRS |  Email |Print

India’s maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF) has identified the first eight projects it plans to invest in. These include the Konkan Railways project, a power transmission project in the north region, and a few road projects, said a senior official of India Infrastructure Finance Co. Ltd (IIFCL).
There has been a lot of interest from foreign investors for NIIF, but actual cheques are taking longer to come in, IIFCL’s deputy managing director Sanjeev Kaushik told Mint over the phone. IIFCL, which was appointed as the interim investment adviser to NIIF in December, has advised investments in a total of eight projects for the fund. Of these, the governing council in its meeting last month approved investment in the existing Konkan Railway project, Kaushik said………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

Singapore’s state-owned investment firm Temasek Holdings Pte is the lead investor in the latest round of financing by Edinburgh-based telecommunications company pureLiFi as it expands its technology holdings.
The Series-B round brought pureLiFi’s total financing to more than $10 million, it said in an e-mailed statement. The funding will support the development of the firm’s technology that uses light-emitted diodes to provide wireless communication systems with the potential to be faster than current WiFi technology, according to the statement. Aedan Lai, a spokesman for Temasek, confirmed the investment and declined to comment further………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

Fullerton Financial Holdings, an arm of Singapore investment company Temasek Holdings, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter.
Yeo will start in his position this year, Fullerton said in an e-mailed response to Bloomberg’s queries………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

An arm of Singapore state giant Temasek Holdings is investing in Asian mixed martial arts (MMA) promoter One Championship, which is planning a share offer within three years, company officials said on Thursday (July 14).
One Championship chairman Chatri Sityodtong said an “eight-figure” US dollar sum will be injected into the Singapore-based firm by a consortium led by Heliconia Capital Management, a wholly-owned subsidiary of Temasek. “Potentially, our plan in the next two to three years is to go public through an IPO (initial public offering),” he told AFP………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

Temasek Holdings is open to investing in distressed assets in India either directly or through an asset reconstruction firm, a senior executive has said. Ravi Lambah, however, added that the company has no firm plans to make such investments so far.
“We are an equity-only investor. So, if there is a business that could be a non-performing asset… which is outsourced by a bank to an asset reconstruction firm and that needed an equity infusion, we would look at it just as any other investment opportunity,” the head for telecom, media and technology at Temasek International said………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

Singapore sovereign wealth fund GIC, formerly known as Government of Singapore Investment Corporation, joined a real estate fund that acquired newly-built Hyundai Logistics Distribution Center located in Incheon, South Korea, from its developer LogisKoel for $130 million, GIC said in a statement on Wednesday. It did not specify the value of its investment in the fund.
The real estate fund is managed by ADF Asset Management Co., an asset management company specialized in South Korea’s logistics sector. Hyundai Logistics Distribution Center on a site of 126,708 square meters is located in Incheon, a prime industrial and logistics hub with strong transport links to major cities nationwide, GIC said in a statement………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

China Investment Corporation has participated in a US$181 million series C financing round in Unity Technologies, a San Francisco-based video game engine maker. The round was led by DFJ Growth, with participation from Chinese venture firm FreeS Fund, Thrive Capital, technology entrepreneur Max Levchin, alongside existing investors Sequoia Capital and WestSummit Capital.
Unity’s platform has allowed studios to create compelling games and monetize them with advertising and analytics services. The firm plans to accelerate its augmented reality (AR) and virtual reality (VR) capabilities going forward………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

UBS Group flagged suspicious transactions linked to 1Malaysia Development Berhad (1MDB) to the Monetary Authority of Singapore (MAS), prompting an investigation of the accounts involved, a person familiar with the matter said. The transactions were not immediately recognised by UBS as suspicious, said the person, who asked not to be identified because the matter is private.
At least US$1.24 billion (S$1.66 billion) was transferred in 2014 from the account of a 1MDB subsidiary held at BSI in Lugano, Switzerland, to a UBS account in Singapore held by what appeared to be a unit of an Abu Dhabi firm, investigative blog Sarawak Report said on July 11. A UBS spokesman declined to comment on the 1MDB transfers………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

Azerbaijan’s State Oil Fund (SOFAZ) and Central Bank (CBA) each sold $50 million to 24 banks through an auction, SOFAZ said July 14. SOFAZ will continue selling foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged to stand at 7.615 billion Azerbaijani manats in 2016.
SOFAZ was established in 1999 with assets of $271 million. As of April 1, 2016, SOFAZ’s assets increased by 2 percent and amounted to $34.25 billion as compared to $33.57 billion in early 2016………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

An expert witness in the litigation between Goldman Sachs and Libya’s sovereign wealth fund said disputed trades of $5 billion were bigger than most traders would see in their careers, making the profits difficult to compare to industry standards.
Will Lyons, a former head of equity derivatives trading at Santander who is acting as an expert witness for Goldman Sachs, said: “I regard the size of these trades as very large and very seldom would you see transactions this size in the market,” under cross-examination from Roger Masefield, the Libyan Investment Authority’s lawyer on Wednesday………………………………………..Full Article: Source

Posted on 15 July 2016 by VRS |  Email |Print

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according to estimates. This suggests that oil giants such as Saudi Arabia are now seeking to protect their budgets against dramatically declining revenues.
SWFs are managed separately from a county’s official currency reserves. They are pools of money the government stores in funds or corporations to generate profits. The funds have an original purpose of reducing the volatility of government revenues and help counter any drops in the national economy………………………………………..Full Article: Source

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