Archive | July, 2009

Singapore sovereign wealth fund Temasek considers joint investments

Chief executive Ho Ching said the fund had already been approached by institutional investors regarding such deals. Temasek is considering including outside investors in single projects as well as the possibility of creating a fund to invest in multiple projects. This comes a week after the company parted ways with Chip Goodyear, who was to […]

France’s Sovereign Fund to Invest $1.3 Billion by End of Year

Bloomberg reports that, “France’s sovereign wealth fund may spend 900 million euros ($1.3 billion) before the end of the year and increase aid to the auto industry in 2010, as the recession batters companies’ finances. The 20 billion-euro investment pool, set up last year by President Nicolas Sarkozy, may provide capital to suppliers of Airbus […]

Finmeccanica and Libyan Investment Authority sign a Memorandum of Understanding for a strategic cooperation in Africa and the Middle East

Press release states, “Finmeccanica, the Italian leading aerospace, defense and security company and the Libyan Investment Authority (“LIA”), the Libyan sovereign wealth fund, and Libya Africa Investment Portfolio(“LAP”), an Investment Fund owned by LIA, share the view that Libya and the Middle East and Africa countries will offer, in the near future, significant investment opportunities […]

New Zealand Sovereign Wealth Fund to invest in public-private partnership

According to the Reuters, “A New Zealand fund that will use private capital to help fund public infrastructure works has signed up the state pension fund as its first investor, the manager of the fund said on Thursday. The New Zealand Superannuation fund will contribute up to NZ$100 million ($66 million) to a fund with […]

Qatar Investment Authority Scores Coup Riding Porsche Feud to Get VW Stake

Bloomberg reports that, “Qatar’s ruling emir, who toppled his father in a bloodless coup in 1995, has come out on top of another power struggle thousands of miles away in Germany, where the Porsche dynasty is losing control of the sports-car maker. Porsche SE yesterday agreed to combine with Volkswagen AG after a four-year attempt […]

Sovereign Wealth Fund: Kuwait Investment Authority shows interest in Continental AG: report

According to the Reuters, “The Kuwaiti Investment Authority (KIA) may be considering investing in German auto parts supplier Continental AG, German business weekly WirtschaftsWoche reported on Saturday. In an article flagged ‘Continental: The auto parts supplier talks to the sovereign wealth fund of the emirate of Kuwait over possible investment,’ the magazine said ‘Kuwaiti investors’ […]

China’s CIC to buy 40% of CITIC Capital -paper

According to the Reuters, “China Investment Corp (CIC), the country’s $200 billion sovereign wealth fund, has agreed to buy a 40 percent stake in investment firm CITIC Capital Holdings Ltd, the official China Securities Journal reported on Monday. CIC will buy new shares to be issued by Hong Kong-based CITIC Capital, in which CITIC Pacific […]

China’s forex reserve not investment fund: central bank Governor

According to the Xinhua, “China’s Central Bank Governor Zhou Xiaochuan said Friday that the country’s foreign exchange reserve should not be seen as “an investment fund”, so it should not be looked on as a profit source. “If the foreign exchange reserve can produce reasonable returns, it is good enough,” Zhou said at Peking University […]

KIC to Push 2.25 Billion Toward Alternative Investments

The Korea Investment Corporation (KIC) is looking to invest nearly US$ 2.25 billion in private equity, real estate and hedge funds. According to Scott Kalb, Chief Investment Officer of the KIC, it would be the first move into alternative investments. Some private equity strategies may include leveraged-buyouts, distressed debt, mezzanine debt, growth capital and venture […]

Porsche board to mull offers from Qatar Investment Authority, Volkswagen

AFP reports that, “the German luxury sports car maker Porsche has scheduled an extraordinary meeting of its supervisory board on July 23 to discuss offers by Qatar and Volkswagen, sources said on Friday. A Porsche spokesman confirmed the meeting, while a source close to the supervisory board said the Qatar and VW offers would be […]

Temasek, Bank of China unit plan $1 bln-$2 bln fund

Reuters reports that, “Singapore’s state investor Temasek is in talks with a unit of Bank of China to launch a $1 billion to $2 billion investment fund to focus on fast-growing infrastructure projects across China, sources said on Thursday. Talks between Singapore’s sovereign wealth fund and BOC International, the investment banking arm of Bank of […]

China Investment Corporation: International Advisory Board Is Set Up

China Investment Corp. has set up its international advisory board, which will have its first meeting soon, Jesse Wang, executive vice president of China’s $200 billion sovereign wealth fund, said Saturday. Wang, who was speaking on the sidelines of the Global Think Tank Summit in Beijing, didn’t elaborate. Set up in 2007 and capitalized by […]

BIA Buys Property To Expand Paris Hotel

Bru Direct reports that the “Brunei Investment Agency (BIA) has acquired a prime property next to the BIA controlled Hotel Plaza Athenee in Paris to expand the capacity of the famous landmark, French Ambassador to Brunei Louis Le Vert yesterday said during the reception for the French National Day. The envoy said that such investment […]

Qatar Sovereign Wealth Fund Seeks to Open China Office

The Qatar Investment Promotion Department aims to create an office in Beijing next year to grow mutual investments between countries. The office will enable Qatar’s sovereign wealth fund access to initial public offerings and investments in sectors such as real estate, infrastructure, banks, consumer companies and chemical firms. Increasingly, GCC-based sovereign wealth funds are looking […]

Teck Resources Announces C$1.74 Billion Private Placement

Press Release states that, “Teck Resources Limited (“Teck”) announced today that China Investment Corporation (”CIC”) has agreed to purchase through a wholly-owned subsidiary 101.3 million Class B subordinate voting shares of Teck for C$17.21 per share. Teck will apply the net proceeds of the transaction to reduce outstanding bank debt. On closing, CIC will indirectly […]

French state nuclear giant Areva invites new investors

AFP reports that, “French state-controlled nuclear giant Areva said Tuesday it was opening its capital to new investors and would sell a subsidiary to raise money for massive investments in new nuclear technology. The company also said it was considering the sale of its stakes in French metal mining group Eramet and Geneva-based computer chip […]