Australia’s Future Fund to Be Probed, Senator Says
Australia’s sovereign wealth fund will be investigated by the nation’s regulator over the sale of Telstra Corp. shares less than a month before a government threat to split the company, said Senator Steve Fielding. The Future Fund said it didn’t have access to private information.
The Australian Securities & Investments Commission will investigate whether the Future Fund was “tipped off” on the proposed separation of the country’s former phone monopoly, Fielding said in an e-mailed statement today.
The Future Fund, whose assets were worth A$64 billion ($59 billion) at Sept. 30, sold A$2.37 billion of Telstra shares on Aug. 20 under what it called a previously stated strategy of reducing its stake. On Sept. 15, the government said Telstra must separate its fixed-line assets from its consumer business or face curbs on mobile-services expansion.
read more: Bloomberg
Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.
Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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