Middle East
tibbles

SWFI First Read, June 23, 2017

QHG Oil Ventures Representatives Nominated to Rosneft Board On June 22, 2017, Rosneft held its annual shareholder meeting in Sochi. Two new board members were nominated to represent the interests of QHG Oil Ventures, the holding company owned by Glencore and the Qatar Investment Authority (QIA). One is Ivan Glasenberg Chief Executive Officer of Glencore […]


qatar

Qatar Airways Had Eyed a Stake in American Airlines

Qatar Airways, the ambitious Gulf airlines company, had approached American Airlines regarding an investment. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Fake Middleman Pleads Guilty, the Landmark 72 Building FCPA Saga

The U.S. Department of Justice (DOJ) got involved in a complex investigation that had a mixture of fraud, money laundering and violations of the U.S. Foreign Corrupt Practices Act (FCPA). The DOJ was able to catch Malcolm Harris who pled guilty before U.S. District Judge Edgardo Ramos to wire fraud and money laundering charges arising […]


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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. ]


tibbles

SWFI First Read, June 21, 2017

Former Shutterfly CEO Joins Vision Fund Jeffrey T. Housenbold, the former CEO of Shutterfly, Inc., has joined SoftBank Group as a senior investing member of the massive Vision Fund. Bidders Lineup for Senior Housing Business of LendLease China-based Cindat Capital Management, The Blackstone Group and GIC Private Limited are among a group of suitors for […]


ADIA Reshuffles Board

The Abu Dhabi Investment Authority (ADIA) experienced a shift in its board of directors. Two board members, Sheikh Sultan bin Zayed and Hamad Al Hurr Al Suwaidi, have exited their roles as wealth fund board members. In addition, Sheikh Khalifa bin Zayed bin Sultan Al Nahyan’s decree named Sheikh Mohammed bin Zayed, Crown Prince of […]


SFO Levies Charges in Barclays Qatar Capital Raising Case

On June 20, 2017, the U.K. Serious Fraud Office (SFO) levied charges against Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the U.K. Companies Act 1985. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


qatar

Qatar Wealth Fund Supports Local Banks with Increased Deposits

With gas-rich Qatar under a blockade from its neighbors and facing financial exclusion from countries such as Saudi Arabia, United Arab Emirates and Bahrain, the country has directed its massive sovereign fund to shore up domestic liquidity. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI First Read, June 13, 2017

Natixis AM Hires Former UBS GAM EMEA Sales Executive Oliver Bilal, a former Head of Europe, Middle East and Africa (EMEA) for UBS Global Asset Management, has joined to become Head of International Sales and Marketing at Natixis Global Asset Management. Bilal will report to Jean Raby, CEO of Natixis Global Asset Management. In addition, […]


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. […]


Kuwait Makes Timely Transfer to SWF, Projects Gov Deficit of $26 Billion

On the backdrop of political headwinds in the GCC region, Kuwait’s parliament had approved a government budget for the current fiscal year to March 31, 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


doha sovereign wealth fund

QIA Disagreed with WSJ Story on Rosneft Buyback

The Qatar Investment Authority (QIA) issued a response to a recent Wall Street Journal (WSJ) story over the 19.5% stake sale of Rosneft to Glencore and the QIA that included an agreement for the Russian government or state entity to buy back shares. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]


A Brief Look into How ADIA Runs Active Internal Equities

Global equity money managers are keen to win mandates from the Abu Dhabi Investment Authority (ADIA). What many may not know is that ADIA manages a sizable portion of its public equity portfolio internally using a combination of passive, active and smart beta strategies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. […]


doha sovereign wealth fund

GCC EMBARGO: How Will Qatar’s Sovereign Wealth Assets be Impacted?

In a coordinated maneuver, Saudi Arabia, the United Arab Emirates (UAE), Bahrain, Yemen, the Maldives and the eastern government of Libya have ceased diplomatic and other links with Qatar. Within a short-time frame, these countries have accused Qatar of supporting terrorism in the region. Qatar has supported groups such as the Muslim Brotherhood in the […]


qatar

Qatar Sovereign Wealth Gives Credit Suisse Confidence

The Qatar Investment Authority (QIA), which is a major shareholder in a number of European businesses and financial institutions, augmented its ownership in Switzerland’s second-largest bank Credit Suisse Group AG, up to 5.01%. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Hapag-Lloyd and United Arab Shipping Company Merger is Finalized

The merger between Hapag-Lloyd AG and United Arab Shipping Company (UASC) has finalized. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Follow the Money – Episode 38

Rachel and I discuss the SoftBank Vision Fund, Saudi Arabia, the Middle East and sovereign wealth funds in this episode of Follow the Money. Rachel gives her opinion on the Blackstone infrastructure fund. This podcast was recorded on May 24, 2017. Download the Episode CONTENTS 1:05 Chatting about Saudi Arabia, SoftBank Group and Sovereign Wealth […]


Northern Trust Anchors Key Office in Abu Dhabi

Custodial giant Northern Trust has expanded operations in the United Arab Emirates by opening a branch office in Abu Dhabi Global Market (ADGM), a designated financial center in Abu Dhabi. In 2008, Northern Trust had opened a representative office in Abu Dhabi. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


PIF Managing Director Nominated to SoftBank Board

Yasir O. Al-Rumayyan heads Saudi Arabia’s Public Investment Fund (PIF), which is a major backer of the SoftBank Vision Fund. Al-Rumayyan was nominated to the board of Japan-based SoftBank Group, along with Mark Schwartz, a Senior Director at Goldman Sachs. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view […]