Sun, Jul 3, 2022
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 17.Nov 2016

Posted on 17 November 2016 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ has revealed the volume of profits it received from the major energy projects in January-October 2016. Thus, SOFAZ received $64 million from the sale of profit oil from profitable gas condensate field “Shah Deniz”.
The total revenues from the “Shahdeniz” amounted to$2.506 billion from 2007 to November 1, 2016. Also from 2001 to November 1, 2016, $121.30 billion entered to SOFAZ from Azeri-Chirag-Guneshli (ACG) field. SOFAZ received $4 .21 billion from ACG project, during January-October of this year…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Norges Bank Real Estate Management acquired an office and retail building on Oxford Street, the U.K.’s busiest shopping street, from Great Portland Estates Plc for 276.5 million pounds ($345 million).
The property is leased in advance of its completion next year to New Look, Benetton and Moneysupermarket.com Group Plc, Great Portland said in a statement. The yield on the purchase is 3.2 percent…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Great Portland Estates has completed the sale of 73/89 Oxford Street and 1 Dean Street in London to Norwegian sovereign wealth fund Norges Bank Real Estate Management for £276.5m.
The price reflects a net initial yield to the buyer of 3.2%. The scheme is pre-let to New Look Retailers, Benetton and Moneysupermarket.com with a weighted average unexpired lease term of 17 years. The rent on completion will be £9.74m a year…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Israeli banks, criticized for years as wasteful by their regulator, are attracting interest from the world’s top investors after announcing thousands of job cuts to boost efficiency.
Norges Bank, which manages Norway’s $860 billion sovereign wealth fund, said last month it raised its stake in Israel Discount Bank by half. U.S. money managers Dimensional Fund Advisors, BlackRock Inc., and Vanguard Group Inc. also increased their holdings in the country’s lenders in recent months…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Kinstellar teams in Bulgaria, the Czech Republic, Romania, Serbia and Slovakia have successfully advised GIC, Singapore’s sovereign wealth fund, on its €2.4bn acquisition of the European logistics property company P3 Logistic Parks, which is described as the largest European real estate deal this year.
The transaction, which involves a portfolio of over 163 sites primarily in eastern and southern Europe totalling 3.3 million sq m of warehouse space and additional land, is subject to regulatory approvals and is expected to close by the end of 2016…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

South Korea will sharply lower the minimum amount to be entrusted to the Korea Investment Corporation (KIC) to about $86 million and allow the sovereign wealth fund to diversify into a broader range of alternative assets, opening the doors of the state fund wider to small-sized public funds.
Under the revision of the enforcement decree of the KIC Act which was approved at the cabinet meeting on Nov. 15, the government will also loosen conditions for an early redemption call to the KIC and allow the sovereign wealth fund to tap a deeper pool of asset managers to pick its chief investment officer and steering committee members…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

China’s sovereign-wealth fund China Investment Corporation (CIC) has teamed up with a French public sector financial institution to jointly tap overseas investment opportunities, with a focus on real estate and infrastructure, according to an announcement.
CIC Capital, the direct investment arm of the US$810 billion-under-management state wealth manager, signed an agreement with Caisse des Dépôts International Capital, a subsidiary of State-owned Caisse des Dépôts Group, to set up a fund for cooperation while investing in third-party markets…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

The sentencing of an opposition politician is just the latest attempt to cover up a deepening 1MDB scandal. A chorus of international outrage was struck immediately after the sentencing of opposition politician Rafizi Ramli for disclosing part of the Auditor General’s report into the 1MDB corruption scandal, which has severely damaged Malaysia’s reputation in business and politics.
London-based Amnesty International immediately called for the 18-month sentence to be quashed, arguing Rafizi had acted in the public interest by bringing to light information about one of the biggest corruption scandals in Malaysia’s recent history…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

In an interview with a Japanese weekly, Malaysian Prime Minister Najib Razak said he was the first to order an investigation into 1Malaysia Development Berhad (1MDB). In an interview published in the Nikkei Asian Review yesterday, he said the Malaysian authorities have led investigations into 1MDB.
“It was I who first instructed multiple authorities in Malaysia to conduct investigations,” he stated. The Malaysian Anti-Corruption Commission, the Auditor-General, the police and the bipartisan Parliamentary Public Accounts Committee have conducted probes…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Abu Dhabi sovereign fund International Petroleum Investment Co. posted a first-half loss after its shares in UniCredit SpA slumped. IPIC recorded a loss of $91 million compared with a $1.25 billion profit a year earlier, the Abu Dhabi-based company said.
It posted a $998 million loss due to marking to market its 5.04 percent stake in Italy’s UniCredit, whose stock declined 62 percent in the first six months of the year. IPIC is merging with Abu Dhabi fund Mubadala Development Co. to create an entity with assets of about $125 billion and debt of about $42 billion…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Abu Dhabi is considering more mergers to boost its financial services industry after combining National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, according to four people with knowledge of the matter. Bank stocks surged.
Abu Dhabi Investment Council, a sovereign wealth fund in the emirate, owns a 58 per cent stake in ADCB and 50 per cent of UNB, according to data compiled by Bloomberg. The fund also holds a 7.6 per cent stake in Abu Dhabi Islamic Bank and a holding in Al-Hilal…………………………………….Full Article: Source

Posted on 17 November 2016 by VRS |  Email |Print

Saudi Arabia’s Public Investment Fund (PIF), the country’s main sovereign wealth fund, said it had no plan to sell stakes in local companies.
“Contrary to inaccurate media speculation this morning, the Public Investment Fund has no plan or intention to reduce its equity holdings in Saudi Arabia,” the PIF. Bloomberg quoted unnamed sources as saying on Tuesday that the PIF, which owns stakes in local companies worth tens of billions of dollars, was considering selling some of those shares…………………………………….Full Article: Source

See more articles in the archive

banner
July 2022
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031