Archive | June, 2009

Oman SWF Buys 30 Percent of Bulgaria Corpbank

An Oman sovereign wealth fund has been eyeing investments in Eastern Europe. The Omani sovereign wealth fund has reached a deal with the majority owner of Bulgaria Corpbank to sell a 30% stake for an undisclosed amount. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Interest in Galadari Transferred to Investment Corporation of Dubai

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Shell Gas Find in Norway May Be Biggest in 12 Years

Europe’s largest oil company, made a natural gas discovery at a record depth in the northern Norwegian Sea that may equal the size of Norway’s annual production of the fuel. The find may the biggest since Ormen Lange in 1997. Norway, the world’s fifth-largest oil exporter and second-biggest gas supplier, is boosting gas output to […]


Angola to Launch Sovereign Wealth Fund in 2009

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Qatar PM: Details on Porsche deal within 3 weeks

Qatar will announce the details of the country’s sovereign wealth fund’s bid to buy into indebted German sports carmaker Porsche within two to three weeks, Qatar’s prime minister said. Sheik Hamad Bin Jassem Al Thani refused to confirm reports that the Qatar Investment Authority is eying a 25 percent stake in Porsche Automobil Holding SE, […]


Goodman forms partnership with China Investment Corporation

Press release states, “CIC participation in Finance Facility CIC has committed to the Facility on the same terms as those announced to the market on 19 May 2009. To facilitate CIC’s participation, Macquarie Bank and its associates have sold down A$15m of their exposure which combined with CIC’s commitment of A$200m takes the final Facility […]


Renaissance’s Simons Delays Retirement Plans

Wall Street Journal reports, “Renaissance Technologies founder James Simons this year took steps to retire from his famed hedge-fund firm but has put the plans on hold for now, people familiar with the discussions say. The firm won’t discuss the reasons behind his moves. But Mr. Simons appears increasingly willing to part with at least […]


Crisis Shows Brazil’s Strengths As Investment Venue

Wall Street Journal reports, “Alan Thompson, managing director for Latin America at Temasek Holdings, Singapore’s sovereign wealth fund, agreed that Brazil’s strong financial system is an important factor in the country’s strong economic growth potential. Not a single bank failure has occurred in Brazil since September 2005 when Banco Santos was closed in what Brazilian […]


Singapore’s GIC will be cautious, take few risks

Reuters reports, “The chairman of the Government of Singapore Investment Corp (GIC), the city-state’s biggest sovereign wealth fund, said on Monday the fund will be cautious and take few risks. His comments came after the country’s other sovereign fund Temasek saw big losses on its investments in Western banks. ‘GIC will be cautious, low risk,’ […]


Rio Tinto Group Scraps Chinalco Deal

NY Times reports, “the Chinese government’s largest investment ever in a Western company, a proposed $19.5 billion stake in the Australian-British mining giant Rio Tinto Group, collapsed early Friday, dealing a blow both to China’s global corporate ambitions and to its efforts to gain clout in the natural resources market. The board of Rio Tinto […]


China Investment Corporation purchases $1.2 billion Morgan Stanley common stock

“June 2nd 2009: Morgan Stanley (MS) announced that it had priced a public offering of common stock for proceeds of approximately US$2.2 billion. The proceeds are intended to fully redeem the TARP preferred capital before the end of June. In view of the excellent relationship with CIC and the preemptive rights CIC holds, MS notified […]


Alaska Permanent Fund Corporation Board of Trustees authorized a new asset allocation

“The Alaska Permanent Fund Corporation Board of Trustees authorized a new asset allocation and approved a manager search during their regular meeting on May 20 and 21 in Anchorage. ‘We’re taking a fresh approach to how we view our asset allocation,’ said Michael Burns, CEO ‘We’re recognizing that some investments within an asset class may […]