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Sovereign Wealth Funds Briefing 26.Sep 2016

Posted on 26 September 2016 by VRS |  Email |Print

Future Fund chairman Peter Costello has warned that the $125 billion fund might have sated its appetite for infrastructure assets by the time the Queensland government accepts reality and reverses its anti-privatisation position.
Speaking after the Future Fund-led Lonsdale consortium paid an eye-popping $9.7bn on Monday for a 50-year lease of the Port of Melbourne, Costello noted the irony of the Queensland government-owned QIC’s participation in the well-timed privatisation of the nation’s leading container port…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

Singapore’s stock market is witnessing an interesting trend. A number of high-profile companies have either delisted, or announced their intention to do so. However, no other company’s proposed privatisation has generated as much interest as that of SMRT.
First, it is hard to find another publicly listed company that affects the lives of millions of Singaporeans on a daily basis. Second, the fact that Temasek Holdings is proposing to fully acquire SMRT adds another dimension to the interest level…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

Sovereign fund China Investment Corp is reviewing options for its 30 percent stake in French multinational electric utility Engie SA’s exploration and production business, which it had bought for 2.3 billion euros in 2011.
According to people familiar with the matter, in July, the unit was seen having a potential to fetch about $4 billion. The French utility, which operates in the fields of electricity generation and distribution, natural gas and renewable energy, is pushing ahead with a sale…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

Nineteen months after the announcement was made in FY16 Budget, the National Investment and Infrastructure Fund (NIIF) will commence operations next month with a $1-billion corpus for the highway sector and another fund of the same size for the renewable energy industry, according to official sources.
In line with the NIIF’s investment structure, the Centre would infuse nearly 49% of the corpus, or a total of $1 billion in the two sectoral funds, while the balance amount will come from long-term investors such as sovereign wealth funds. The potential investors in these funds include Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA) and RUSNANO of Russia, the sources added…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

One of the Asean region’s biggest soveriegn fund has been hit by its first loss in 7 years. While local detractors of Malaysia’s ruling government have continued their smear campaign against state-owned investment fund 1MDB and making it appear as a huge failure due to losses, it is Singapore’s state investment giant Temasek Holdings which announced an astounding SG$24 billion (RM73 billion) loss for its last financial year.
Singapore’s sovereign wealth-fund company Temasek Holdings reportedly lost SG$24 billion in its latest financial year report FY2016 dating March 31. The news which saw the investment arm of the country’s CPF retirement funds lost 9.02% was announced only 3 months later on July 7. Temasek Holdings lost SG$24 billion to SG$242 billion from SG$266 billion a year ago, Straits Times Review had reported earlier this year…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

Libya’s $67 billion (£51.6 billion) sovereign wealth fund has recovered $73 million from the bankrupt Lehman Brothers and $53.8 million from Cornhill Capital after lengthy legal battles, the fund said in a statement.
The Libyan Investment Authority (LIA) is involved in a number of disputes with Western firms, not least its $3.3 billion claims against investment banks Goldman Sachs and Societe Generale, which are being pursued in London courts…………………………………….Full Article: Source

Posted on 26 September 2016 by VRS |  Email |Print

The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers.
The QIA’s withdrawal, confirmed by three people briefed on the situation, prolongs the troubles of India’s Sahara Group, which owns the Grosvenor House and majority stakes in New York’s Plaza and Dream Downtown hotels…………………………………….Full Article: Source

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