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Sovereign Wealth Funds Briefing 09.Nov 2016

Posted on 09 November 2016 by VRS |  Email |Print

The Qatar Investment Authority, the country’s sovereign wealth fund, will contribute $1bn to the fund, while Argentina’s state pension agency, ANSES, will put in $300m. Argentina and Qatar are setting up a $1.3bn fund focused on infrastructure projects in South America’s second-largest economy.
The fund was announced during a state visit by Argentine Vice President Gabriela Michetti to Qatar over the weekend. The new fund is the result of an agreement between the Qatar Investment Authority, the Middle Eastern country’s sovereign wealth fund, and a fund managed by Argentina’s state pension agency ANSES…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

Not only are Norway’s huge sovereign wealth fund and its biggest bank involved in the controversial Dakota Access pipeline, its largest life insurance firm and pension fund for local government- and other employees also has stakes in it. So does Norway’s second-largest bank, Nordea.
Kommunal Landspensjonskasse (KLP) confirmed on Tuesday that it has invested in four of the companies developing the pipeline that’s sparked major protests in the US and worldwide…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

Credit Suisse has been appointed to sell Royal Bank of Scotland’s 40 percent stake in Saudi Hollandi Bank 1040.SE, sources aware of the matter said on Tuesday, in a deal potentially worth around $1.2 billion.
Several sources said Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), was considered a likely buyer of the stake. The fund has been buying up assets at home and abroad following plans to turn it into the world’s largest sovereign wealth fund with $2 trillion of assets…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

The Goldman Sachs Group, Inc. has been yet again accused by the Libyan Investment Authority (LIA) as the fund is intending to approach the UK Court of Appeal. The move comes after the Wall Street banking giant won the $1.2 billion suit last month over a series of derivatives transactions entered between LIA and Goldman in 2008.
According to a report by Reuters , at a hearing on Friday, Judge Vivien Rose did not grant permission to LIA for appealing her October judgment, wherein she had dismissed the case. However, citing a source familiar with the matter, the report stated that the sovereign fund now may seek permission from the Court of Appeal. ……………………………………Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

Singaporean sovereign wealth fund GIC will buy P3 Logistics Parks for $2.7 billion in what’s being called Europe’s largest real-estate deal of 2016. GIC will buy P3 Logistics Parks for 2.4 billion euros ($2.7 billion), the Singaporean sovereign wealth fund said on Monday, in what it said was Europe’s largest real-estate deal of 2016.
P3, which runs logistics properties across Europe, was sold by TPG Real Estate and Ivanhoé Cambridge. With more 163 warehouses across nine countries, P3 has 11 new sites are under construction, with 300,000 square metres of approved development scheduled by year-end…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

Kirkland & Ellis has advised opposite Freshfields Bruckhaus Deringer in the largest European real estate transaction of the year as Singaporean sovereign wealth fund GIC picked up P3 from TPG Real Estate for $2.7bn.
GIC signed a deal to acquire P3 from TPG Real Estate and its shareholder Ivanhoe Cambridge last week (4 November) in a deal which spans across nine jurisdictions. The transaction is subject to regulatory approval and is expected to close by the end of 2016…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

New Zealand’s sovereign wealth fund plans to protect its portfolio from climate change risks by cutting fossil fuel exposure and seeking greener investments, its chief executive said. The NZ$31 billion ($22.71 billion) fund, established to support New Zealand’s retirees, is hosting an annual meeting for some of the world’s biggest sovereign funds in Auckland on Nov 8-11.
Climate change policy risks are expected to figure high on the agenda of the meeting, which will be attended by International Forum of Sovereign Wealth Funds (IFSWF) members such as China’s CIC, Singapore’s GIC and the Gulf’s Abu Dhabi Investment Authority…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

The following is issued on behalf of the Hong Kong Monetary Authority: The President of the Asian Infrastructure Investment Bank (AIIB), Mr Jin Liqun, spoke at a high-level business seminar in Hong Kong today (November 8). The seminar, organised by the Infrastructure Financing Facilitation Office (IFFO) of the Hong Kong Monetary Authority (HKMA) and entitled “President Jin Liqun on AIIB’s Operations and Projects”, attracted close to 300 industry leaders from various sectors including finance, architecture, building and construction engineering, project management and consulting, project development and operation, as well as professional services.
Jin said at the seminar that Hong Kong’s application to become a member of AIIB is progressing well. He said, “We welcome Hong Kong’s application for AIIB membership. Hong Kong, among other applicants, is expected to become a member of AIIB in the coming months…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

A Wall Street Journal journalist was kicked out of a 1MDB information session in Sydney, believed to have been organised by Special Affairs Department (Jasa).
“Just got kicked out of a ‘public’ event where 1MDB’s Arul Kanda (was) explaining the controversy to Malaysian students in Sydney,” WSJ Sydney bureau deputy chief Rachel Pannett said on Twitter. Her colleague Tom Wright added only Malaysian students are allowed to ask questions at the event…………………………………….Full Article: Source

Posted on 09 November 2016 by VRS |  Email |Print

As the Singapore court case probing the 1Malaysia Development Berhad (1MDB) sovereign fund scandal unfolds, a former BSI banker has beeen accused of siphoning off millions from the state fund through bank accounts setup for several shell companies.
Yeo Jiawei is facing four counts of obstructing justice in Singapore by allegedly urging witnesses to lie to police and destroy evidence while out on bail after his arrest on 17 March 2016 in connection with money laundering involving the state fund. He faces seven other counts involving cheating, money laundering and forgery, which will be heard in 2017…………………………………….Full Article: Source

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