Archive | November, 2009

Australian Government: Proposed Tax Changes to Provide Certainty to Sovereign Investments

According to the Government of Australia – Assistant Treasurer, “The Assistant Treasurer, Senator Nick Sherry, has today released a consultation paper on the proposed changes to the income tax law to formalise the existing tax practice of exempting certain income earned by foreign governments. “Currently, there are around 50 sovereign wealth funds around the world […]

Abu Dhabi Investment Authority Makes Senior Hire in Real Estate

The Abu Dhabi Investment Authority said today that it has appointed Tom Arnold as Head of Americas, Real Estate, with immediate effect. Mr. Arnold, 51, will be responsible for developing and implementing ADIA’s real estate investment strategy in the Americas region. He will be based in Abu Dhabi and report to Bill Schwab, Global Head […]

Qatari Diar Says Rail System May Cost $25.3 Billion

According to Bloomberg, “Qatar, the world’s largest producer of liquefied natural gas, expects the construction of a railway system will cost 17 billion euros ($25.3 billion) as the Persian Gulf state seeks improved transport links with its neighbors. Qatari Diar Real Estate Investment Co. and German state- owned rail operator Deutsche Bahn AG formed Qatar […]

China Investment Corporation invests in GCL-Poly Energy Holdings Limited

According to the China Investment Corporation’s Press Release, “China Investment Corporation (“CIC”) today signed a binding framework agreement with GCL-Poly Energy Holdings Limited (“GCL-Poly”) for the subscription of approximately 3,108 million shares of GCL-Poly at a price of HK$1.79 per share. The total investment is around HK$5.5 billion. The subscription is conditional upon, among other […]

Protectionism may harm fragile economies, say top SWFs

According to Business 24-7, “Protectionist barriers aimed at capital-rich sovereign wealth funds (SWFs) could backfire on the fragile global economy, top executives of major state investment firms warned yesterday. The sovereign funds have the capital needed by affected economies to recover from the global crisis but governments may come under domestic pressure to impose protectionist […]

CIC Picks New Chief for Hedge Investments

According to Wall Street Journal, “China’s sovereign-wealth fund has brought in a China-born portfolio manager with U.S. experience to run its hedge-fund investments, according ++to people familiar with the situation, marking its highest-profile hire so far. Bill Lu, formerly a portfolio manager at U.S. hedge fund Tudor Investment Corp., has become a managing director at […]

GIC says downside protection key in infrastructure

According to Reuters, “Sovereign wealth fund the Government of Singapore Investment Corp [GIC.UL] regards downside protection as important when considering investments in infrastructure projects, a senior executive said on Wednesday. Teh Kok Peng, president of GIC Special Investments, said infrastructure provides bond-like, rather than equity-like, returns so the protection offered to investors and the regulatory […]

Qatar Sells Part Of Volkswagen Stake,Raises 1.5 Billion Euros

According to the Wall Street Journal, “Qatar’s sovereign investment fund Tuesday sold 25 million preference shares in German auto maker Volkswagen AG, raising EUR1.5 billion, but still plans to build its voting stake in the company. The fund, VW’s third-largest shareholder, said it would sell the shares, which don’t have voting rights, to boost their […]

Angolan Oil Output to Surge Over Next 5 Years

According to Reuters, “Angola’s oil industry is booming as money pours in after the end of three decades of civil war, and officials say output could increase by as much as two-thirds over the next five years. Buoyed by a scramble for energy and raw materials by China and other emerging nations, oil companies are […]

China Investment Corporation Invests in AES Corporation

According to the China Investment Corporation – Press Release, “China Investment Corporation (“CIC”) today made an investment through a wholly-owned subsidiary in the amount of USD 1.58 billion in AES Corporation (“AES”). At close, CIC will acquire 125.5 million shares of AES stock for USD 12.6 per share, representing approximately 15% equity interest in the […]

Abu Dhabi Sovereign Wealth Fund and Korea Investment Corporation Ink Advisory Deal

The Korea Investment Corporation (KIC) signed a cooperation agreement with the Abu Dhabi Investment Authority (ADIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

President Obama Nominee Supports Scrutiny Of Sovereign Wealth Funds

According to Nasdaq, “President Barack Obama’s choice to serve as the Treasury Department’s assistant secretary for international markets and development pledged support for rigorous scrutiny of U.S. investments by sovereign wealth funds. “Sovereign wealth funds are not just a private sector investor, but rather are arms of government,” and need to be subject to stricter […]

Qatar Holding to open office in China – paper

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3Q09 LMTI ratings released – plus comments from the New Zealand Superannuation Fund

Q&A directed to the New Zealand Superannuation Fund The following questions are answered by Adrian Orr, CEO of the New Zealand Superannuation Fund: Question 1: How does the New Zealand Superannuation Fund view the future of transparency, are there any common beliefs among the leadership as to whether or not the current state of transparency […]