Archive | September, 2009

China Investment Corporation Buys Stake in Kazakh Gas Company for $939 Million

According to Bloomberg, “China’s sovereign wealth fund bought a stake in the London-traded unit of Kazakhstan’s state-run energy company, taking its spending on resources to at least $3.69 billion this month. China Investment Corp., which holds almost $300 billion, bought an 11 percent stake in Astana, Kazakhstan-based JSC KazMunaiGas Exploration Production for about $939 million […]

Government of Singapore Investment Corporation has a rough year, just like other SWFs

According to the report, “In recent years, GIC had sought to construct a diversified multi-asset class portfolio by increasing alternative investments such as private equity and real estate. However, this diversification was ineffective in the financial earthquake that occurred last year. The portfolio suffered a loss of more than 20% in Singapore dollar terms in […]

Launching: Sovereign Wealth Fund Institute – Consensus Demand Meter Q2 Y 2009 (June)

The Sovereign Wealth Fund Institute – Consensus Demand Meter is an innovative indicator to track what sovereign wealth funds are demanding in the next three quarters from that relative start date. For Q2 Y2009 (End of June 2009) going forward three months, this Demand Meter indicates how select asset allocations, sectors, and investment strategies rank. […]

IDB Official: In Talks With CIC On US$1B Trade Co-Financing

According to the Wall Street Journal, “the Inter-American Development Bank is in talks with China Investment Corp. on a US$1 billion arrangement for trade promotion co-financing, Jean-Marc Aboussouan, chief of the multi-lateral lender’s infrastructure division, said Wednesday. ‘Talks are going well,’ Aboussouan added. Earlier, Steven Puig, vice president for the private sector and non-sovereign guaranteed […]

US$1.9 billion Landmark Investment in PT Bumi Resources Tbk by China Investment Corporation

According to the press release, “PT Bumi Resources Tbk (“Bumi”) announced that China Investment Corporation (“CIC”) has invested US$1.9 billion in Bumi in the form of a debt-like instrument. The US$1.9 billion investment consists of US$600 million repayable in year 4, US$600 million in year 5, and remaining US$700 million in year 6. The investment […]

CIC and Noble Enter into Investment and Cooperation Agreement

Press Release states, “The Noble Group (SGX: NOBL) is pleased to announce today an agreement to place 573,000,000 number of shares, for a total consideration of approximately USD 850,000,000 to China Investment Corporation (“CIC”) at a price of SGD2.1137 per share. The placement comprised of 438,000,000 newly issued shares by the Company and 135,000,000 shares […]

UK Canary Wharf Group gets Qatari Fund boost

Gulf Times reports, “Qatar Holding, a strategic and direct investment arm of Qatar Investment Authority (QIA), will extend debt finance to part fund Songbird Estates’ purchase of additional 8.45% equity in the London’s realty developer Canary Wharf Group (CWG). Songbird Estates, in which the Qatar Holding seeks to be one of the largest shareholders, has […]

Verenex and Libyan Investment Authority enter into agreement

The press release states, “Verenex Energy Inc. (“Verenex”)and the Libyan Investment Authority (the “LIA”) jointly announced today they have entered into a binding memorandum of understanding (“MOU”) respecting the sale of all of the issued and outstanding shares of Verenex (on a fully-diluted basis) to the LIA at a price of $7.09 per share in […]

Push for open SWFs risks investment shift

According to the Reuters, “Leading sovereign funds formed the International Working Group of Sovereign Wealth Funds in 2008, announcing a set of 24 principles and best practices, known as the Santiago Principles, last October. The group — whose members include the United Arab Emirates, Kuwait, Singapore, China, Korea, Russia and Norway — meets once a […]

Libyan Investment Authority plans to take stake in Wienerberger AG

According to the Press Release, “Agreement with the Libyan Investment Authority to acquire up to 11.8 million shares as part of the capital increase Wienerberger has entered into an agreement with the Libyan Investment Authority (“LIA”), an investment fund of the Libyan state, pursuant to which LIA has committed to acquire, as part of the […]

Analyze This: China Investment Corporation Eyes AES Corp

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French FSI fund may buy Areva asset stakes -paper

Reuters reports, “France’s FSI strategic investment fund could buy stakes in assets that French nuclear reactor supplier Areva is selling, the fund’s head told Les Echos newspaper. Asked about Areva’s power Transmission & Distribution (T&D) unit and its minority stakes in mining group Eramet and chipmaker STMicroelectronics, Gilles Michel said, ‘Regarding Eramet, the FSI is […]

Mongolia Fund to Manage $30 Billion Mining Jackpot

Bloomberg reports, “The Mongolian government will set up a sovereign wealth fund using mining royalties and tax revenue, and distribute part of the income to citizens to alleviate poverty, said Finance Minister Sangajav Bayartsogt. The fund, to be run by professional managers from 2013, will disburse part of its annual income to every Mongolian in […]

Q&A on New China Partnership Rule

PE Hub states, “China is planning new rules that will allow foreign companies to set up locally registered partnerships, a copy of a draft regulation showed, a landmark move aimed at attracting foreign investments. Foreign firms and nationals who want to start local partnerships must seek approval from China’s Ministry of Commerce, according to document […]

Nigeria senate mulls sovereign wealth fund plan

Reuters states, “Nigeria’s Senate is working on legislation to create a sovereign wealth fund aimed at softening any impact falling oil prices may have on the OPEC member’s economy, the finance minister said on Wednesday. Mansur Muhtar told Reuters a presidential committee of top Nigerian economic advisers had sent lawmakers a draft proposal for the […]

Strategic Partnership Between Qatari Diar and VINCI

The press release states, “Qatari Diar and VINCI announce that they have held exclusive negotiations that have resulted in the following proposal: Qatari Diar is to contribute its subsidiary CEGELEC to VINCI in exchange for an equity holding in VINCI. This contribution is envisaged on the basis of 31.5 million VINCI shares for 100% of […]