Archive | February, 2009

French sovereign wealth fund takes Valeo stake

France’s sovereign wealth fund on Wednesday announced it had taken a stake in French auto parts group Valeo, a firm that has been targeted by a New York investment group pushing for a merger. The FSI said it’s taken an 8.3% stake in Valeo and has 10.55% of the voting rights. New York-based Pardus Capital […]

Temasek Expands India Operations

According to Temasek, “Temasek Holdings Advisors India Pvt. Ltd (Temasek) has announced the expansion of its India operations with the launch of its Chennai branch office. While Temasek enjoys a strong presence in the North and the West, the Chennai office represents a strategic geographical diversification to focus on the large South India market, providing […]

European PE Firm Apax Sells 10% Stake to Asian-Pacific Investors

Apax Partners has secured deals to sell holdings in its management company to two Asian-Pacific investors after protracted discussions with three parties. The sale should buttress the private-equity firm at a time when fund-raising is at a low and portfolio valuations are coming under pressure. GIC Special Investments, the private-equity arm of sovereign-wealth fund Government […]

Japan to waive tax on SWF’s interest income

Reuters reports that “the Japanese government will waive the tax on the interest accrued on sovereign wealth funds’ holdings in the country, the Nikkei business newspaper reported on its web site. Overseas investors generally face a 15 percent tax on interest income. Investors from countries with which Japan has bilateral tax accords are imposed a […]

Norway’s Central Bank to Invest Sovereign Fund in UK and US Properties

Norway’s Government Pension Fund Global (GPFG) is on the lookout for core real estate in the United States and England. Norges Bank Investment Management manages the oil wealth of Norway. Norges Bank Investment Management needs approval from the Norwegian government to begin real estate investing. The sovereign wealth funds sees real estate prices are quite […]

Oil fuels commodity-based Sovereign Wealth Fund growth – Proved oil reserves at the end of 2007

Country Barrels in Billions World Share Main Oil Commodity SWFs Saudi Arabia 264.2 21.3% SAMA Foreign Holdings Iran 138.4 11.2% Oil Stabilisation Fund Iraq 115.0 9.3% Kuwait 101.5 8.2% Kuwait Investment Authority United Arab Emirates 97.8 7.9% Abu Dhabi Investment Authority Venezuela 87.0 7.0% FIEM Russia 79.4 6.4% Oil Stabilization Fund Libya 41.5 3.4% Libyan […]

Libyan Investment Authority eyes new investments with large cash pile

Reuters states, “Libya’s sovereign wealth fund controls assets of more than $65 billion but has only up to 23 percent of its available cash funneled into investments, the fund’s chairman said on Thursday. The Libyan Investment Authority is one of several highly secretive investment funds owned by national governments that have become increasingly active in […]

Indonesia’s Danamon says will buy back $300 million bond

According to Reuters, “Indonesia’s fifth-largest lender, PT Bank Danamon Tbk, said on Thursday it plans to exercise its option to buy back $300 million of subordinated bonds as it has sufficient funds. Danamon, controlled by a consortium that includes Singapore’s state investor Temasek and Deutsche Bank, said its net profit for 2008 fell 28 percent […]

Temasek Holdings Appoints Charles W. Goodyear as Member of the Board and CEO-Designate

According to the press release, “the Board of Directors of Temasek Holdings (Private) Limited Temasek today announced a leadership transition – Mr Charles Chip W. Goodyear will succeed Ms Ho Ching as Chief Executive to lead the Singapore investment company. Mr Goodyear, 51, an American, joined the Temasek Board on 1 February. He assumes the […]

St Martins, a SWE of the Kuwait Investment Authority, buys luxury residential block in Tokyo

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South Africa and Qatar to Hold Bilateral Consultations

According to the press release, “South African Deputy Foreign Minister Sue van der Merwe will hold the first round of bilateral consultations with the Assistant Foreign Minister for Follow-Up Affairs of the State of Qatar Mr Mohammed Abdullah Al-Rumaihi at the Twelve Apostles Hotel and Spa in Camps Bay, Cape Town on Wednesday 04 February […]

CEO of QIA interviewed on CNBC

Sovereign wealth funds are taking some of the biggest hits during the latest round of economic uncertainty. CNBC’s Maria Bartiromo spoke with Sheik Hamad Al-Thani, Qatar’s prime minister and CEO of the country’s largest investment authority. watch here: CNBC