Central Banking

SOFAZ Swaps $1 Billion in Debt for 7-Year IBA Bond

Creditors holding 93.9% of the affected credits of the International Bank of Azerbaijan (IBA) have approved of a US$ 3.3 billion restructuring plan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BNY Mellon Manhattan

BNY Mellon Names Charles W. Scharf as CEO

Bank of New York Mellon Corporation hired Charles W. Scharf as its new chief executive officer. Scharf is joining immediately and will become chairman of the bank effective January 1, 2018. Gerald L. Hassell will continue to serve as chairman until his retirement at the end of December. Hassell has served as BNY Mellon’s CEO […]


Brazilian SWF Sells 12.7 Million Shares of Banco do Brasil

In May 2017, the Brazilian government announced its sovereign fund would be selling shares of Banco do Brasil SA, a state-owned bank, over the next 24 months to shore up resources. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Else Bos Leaves PGGM for De Nederlandsche Bank

De Nederlandsche Bank is the central bank of The Netherlands and has officially named a new executive director and chairwoman for prudential supervision. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Russia’s National Welfare Fund Wants its Ukrainian Loan Money Back

In December 2013, when pro-Russia-leaning Ukrainian President Viktor Yanukovich held executive power, Russia’s National Welfare Fund, purchased US$ 3 billion worth of Ukraine government Eurobonds. The Ukrainian government had paid the first three Eurobond coupons. However, as the relationship between Ukraine and Russia quickly deteriorated and further exacerbated due to the annexation of Crimea by […]


Mubadala’s Telecoms Experiment in Nigeria Proves a Headache

Abu Dhabi-based Mubadala has made a number of strategic investments in markets such as Brazil and Nigeria betting on sectors that prosper with an expanding middle class. In 2008, Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria, was formed by Mubadala and Abu Dhabi-based Etisalat Group, a giant telecommunications services provider with strong […]


qatar

Qatar Sovereign Fund Moves More Domestic Holdings to MoF

In the midst of the economic blockade, the Qatar Investment Authority (QIA) had moved US$ 30 billion worth of its domestic equity holdings to the Ministry of Finance of Qatar. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 12, 2017

Public Investment Corporation Supports Vodacom Group Deal South Africa’s Public Investment Corporation (PIC) is a major shareholder in many South African companies including Vodacom Group. PIC holds a 15.63% ownership stake in Vodacom Group. PIC has supported Vodacom Group’s proposal to buy a 34.94% stake in Safaricom. Vodacom Group is funding the deal by issuing […]


LIA Generates Some Revenue as Thick Clouds Surround Governance

The Libyan Investment Authority (LIA) is doing its best operating in an environment of political turmoil. On May 8, 2017, Ali Mahmoud Hassan, the Head of the Faiez Serraj-led Steering Committee at LIA was able to return to the LIA headquarters in Tripoli Tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


BNY Mellon Manhattan

BNY Mellon Solidifies Domination in the U.S. Tri-Party Repo Business

In July 2016, J.P. Morgan Chase & Co. (JP Morgan) announced its intention to exit the U.S. tri-party U.S. Treasury repurchase agreement (repo) business, an important market function. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Goldman Sachs Under Fire on Venezuelan Bond Investment

As Venezuela struggles to feed its people and is in the midst of a political crisis stemmed from out-of-control socialist policies draining public coffers, institutional investors have been reluctant to invest in the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, May 13, 2017

Standard & Poor’s Lowers Oman Credit Rating to Junk Standard & Poor’s, one of the major ratings agencies, chopped Oman’s credit rating down to BBB- from BB+ on May 12, 2017. BBB- is junk status. Progress on Proposed St. Kitts and Nevis Sovereign Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


SWFI First Read, May 12, 2017

Temasek Participates in Another Investment Round in Virtual Reality Startup Japan-based SoftBank Group Corporation is leading a group of investors to invest in London-based Improbable Worlds Limited, a virtual reality startup. It is a US$ 502 million investment. Returning investors include Temasek Holdings, Andreessen Horowitz and Hong Kong-based Horizon Ventures. These returning investors participated in […]


Institute Fund Summit 2017 Asia – Singapore Slider 14

The Emerging Markets Panel: India, Turkey and Africa < PREVIOUS 15 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Institute Fund Summit 2017 Asia – Singapore Slider 4

Witnessing the first Institute Fund Summit Asia 2017 group “selfie” < PREVIOUS 5 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Institute Fund Summit 2017 Asia – Singapore Slider 2

The Asian Century panel gets revisited. Ryan He from the China Light Industry Council gives his perspective on China. < PREVIOUS 3 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Institute Fund Summit 2017 Asia – Singapore Slider 1

Keynote speaker Donghyun Park of the Asian Development Bank educates delegates on the Asian Middle Class Challenge (formerly known as the Trap). < PREVIOUS 2 of 20 NEXT > CONTACT INFORMATION Sponsorship Information Carl Linaburg clinaburg(a)swfinstitute.org General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


A Swedish Sovereign Fund or Swedish Debt Fund?

Unlike its oil rich neighbor Norway, Sweden does not have a sovereign wealth fund. However, the Swedes have a series of buffer funds. Sweden is in between Norway and Finland when it comes to government debt to GDP ratios. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


Richmond Federal Reserve President Lacker to Resign, Source of Medley Leak

Richmond Federal Reserve President Jeffrey Lacker has immediately resigned. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Central Bank of Russia Opens Representative Office in Beijing

On March 14, 2017, the Central Bank of Russia established its first representative office in Beijing and its first abroad. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]