Archive | August, 2009

Qatar Holding Desires to be Largest Shareholder in Songbird Estates

Recently, Qatar’s SWF joined the China Investment Corporation (CIC) to subscribe to £275 million in preference shares issued by Songbird Estates PLC. Qatar Holding, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), is gunning to be the biggest shareholder in Songbird Estates. Songbird Estates is the largest owner of offices in the Canary […]

China Investment Corporation comes to Canary Wharf company’s rescue

AFP reports, “China’s state sovereign wealth fund has bailed out the heavily indebted majority owner of London’s Canary Wharf, according to the real estate development’s owner. The Financial Times reported that the move by China Investment Corporation (CIC) was its first big investment in Britain. The owners of Canary Wharf, Songbird Estates, said in a […]

Norway’s Oil Fund Names New Executive Management

Bloomberg reports, “Norges Bank Investment Management, which oversees Europe’s largest sovereign wealth fund, named a new team of executives after record losses last year wiped out gains from 12 years of investing Norway’s oil and gas revenue. The 2.47 trillion-krone ($410 billion) Government Pension Fund – Global promoted Bengt Enge to chief investment officer, Trond […]

CIC No Longer to Pay Interest to the State

Economic Observer News states, “The CIC has reached an agreement with the Ministry of Finance (MOF) to treat the $200 billion US dollars used to originally finance the company as assets rather than a debt, a source from the CIC told the EO. This means that CIC will no longer be required to make regular […]

Temasek Charter reiterates Temasek’s focus on long-term value

In conjunction with its 35th anniversary, Temasek Holdings (Temasek) today released an updated Temasek Charter. Speaking at the launch, Temasek Chairman, Mr S Dhanabalan, said, “Temasek’s mission remains to create and deliver sustainable long-term returns for our stakeholders. We have refined our Charter to more clearly articulate our focus as a value-oriented investor, and also […]

Future Fund sells 34% of its Telstra holding

Press Release states, “The Future Fund Board of Guardians (the Board) has sold 684.4 million Telstra shares at a price of $3.47 (gross proceeds $2.37 billion) through an underwritten sale to institutional investors. The sell-down is in line with the Board’s previously stated plan to reduce the portfolio’s holding in Telstra in an orderly manner […]

Bidders ready for EDF’s network sale

The release states, “the network is being sold by the French nuclear giant EDF for £4 billion and the Deutsche Bank and Barclays have been appointed to prepare for the sale, which is expected to start next month. The arm of EDF’s business which is up for sale is made up of three regional networks […]

Public Stock Frenzy Pushes Up British Land Shares

Shares of British Land boomed today upon news that a bid for Broadgate office complex was near. An investor group including the Mittal steelmaking family and Abu Dhabi’s ruling family are rumored to have approached Credit Suisse on the possible purchase of Broadgate. Other possible suitors include the China Investment Corporation. Armed with a £740 […]

Porsche Automobil Holding SE: Qatar acquires stake in Porsche SE and majority of options

The press release reports, “The family shareholders Porsche and Piëch as holders of the ordinary shares in Porsche Automobil Holding SE (Porsche SE), Stuttgart, have come to an agreement with Qatar Holding LLC (QH), Doha, that the Emirate of Qatar takes a stake in Porsche SE. According to this agreement, QH shall acquire ten percent […]

Sovereign Wealth Fund: Temasek investment in cash calls pays off

Asia One reports, “the investments Temasek Holdings has made in rights issues over the past eight months have surged by around 184 per cent on the back of rocketing global equity markets. Data compiled by The Straits Times from public information shows that Temasek has spent about US$2.9 billion (S$4.2 billion) subscribing to new shares […]

Singapore Sovereign Wealth Fund & Canada Pension Plan Investment Board Enter into a JV with Cyrela Commercial Properties S.A

According to the press release, “Pursuant to CVM Instruction 358 of January 3, 2002, Cyrela Commercial Properties S.A. Empreendimentos e Participações (“CCP”), a commercial property development and leasing company with shares traded on the São Paulo Stock Exchange (BOVESPA) under the ticker CCPR3, informs its shareholders and the market in general that, on July 7, […]

Chinese developers looking for land in Oz and US

Property Wire reports, “An example is Singapore’s sovereign wealth fund, the Government Investment Corporation that recently ran the numbers on a half stake in the $485 million Sydney office tower, 1 Martin Place, owned by two Macquarie Group property funds. Other buyers included private investors from Malaysia, Indonesia and Hong Kong. ‘Most are out of […]

Infrastructure Investment World Australia 2009

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Australia to Relax Review of Foreign Investments

Wall Street Journal reports that, “Australia will relax its screening of some foreign investment deals in a bid to improve the nation’s attractiveness as an investment destination, Treasurer Wayne Swan said. Private foreign investment, including deals by privately held and listed companies, in Australian firms valued at less than 219 million Australian dollars (US$184.6 million) […]

Mitsubishi UFJ Arranges $5 Billion Loan to IPIC

The International Petroleum Investment Co. (IPIC) is looking up to secure lines of debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]