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Sovereign Wealth Funds Briefing 14.Nov 2016

Posted on 14 November 2016 by VRS |  Email |Print

Emirati businessman Mohamed Alabbar on Sunday launched an e-commerce business with Saudi Arabia’s sovereign-wealth fund at an initial investment of $1 billion, as he seeks to tap the Middle East’s small but growing online sales market.
The new venture called “Noon” will offer 20 million products—ranging from fashion to electronics—to Middle Eastern households starting in January in a bid to create a homegrown version of e-commerce giants such as Amazon Inc. and Alibaba Group. Noon will initially operate from and focus on the U.A.E. and Saudi Arabia before expanding across the region……………………………………Full Article: Source

Posted on 14 November 2016 by VRS |  Email |Print

Despite his engaging introductory monologue, NZ Superannuation Fund chief, Adrian Orr, faced tough competition for the attention of the 250 plus International Forum of Sovereign Wealth Fund (IFSWF) delegates assembled at the Auckland Viaduct Centre last week.
As Orr rolled energetically through a diversified portfolio of one-liners, NZ history lessons, IFSWF updates and conference housekeeping, large swathes of the audience – collectively responsible for some $5 trillion – were heads-down, staring at the flickering screens of mobile phones…………………………………….Full Article: Source

Posted on 14 November 2016 by VRS |  Email |Print

In a surprising note from the stock market on Friday Norway’s Central Bank popped up with a significant stake in APN Outdoor Group. Norges Bank Investment Management informed the ASX it owns 8.4 million shares in APN Outdoor (APO) or 5 per cent, which is worth about $45.3 million at the current price. Shares in APN Outdoor dropped 2.5 per cent to $5.26 on Friday.
It has been buying the shares on market in recent months, sometimes over one million shares a day. For some perspective, Norges Bank manages about $1.14 trillion of money, which comes from Norway’s oil sales and will be used to “safeguard wealth for future generations”……………………………………Full Article: Source

Posted on 14 November 2016 by VRS |  Email |Print

Capital First Ltd, a non-banking financial company (NBFC) majority owned by private equity firm Warburg Pincus, is raising Rs 340 crore ($51 million) from GIC, Singapore’s sovereign wealth fund, it said.
GIC, through an affiliate Caladium Investment Pvt. Ltd, will pick around 4.8% stake in the NBFC via a preferential allotment of 4.78 million shares at Rs 712.70 each, as per VCCircle estimates…………………………………….Full Article: Source

Posted on 14 November 2016 by VRS |  Email |Print

Malaysia has again rebuffed Switzerland’s request for legal assistance in probing suspected corruption linked to scandal-hit state fund 1MDB, the Swiss attorney general’s office said on Friday.
But it said Kuala Lumpur’s decision would not hinder the Swiss probe as it works with other countries on the case. “We respect Malaysia’s independent decision on this matter. However, the Malaysian authorities remain free to use the information provided in Switzerland’s requests for assistance in their own investigations,” Attorney General Michael Lauber said, confirming a report by the Financial Times…………………………………….Full Article: Source

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