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Eastern SWFs and SOEs Embark on Energy Infrastructure Binge

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energy_natSovereign wealth funds and state-owned enterprises are attracted to energy infrastructure in benign regulatory environments. Chinese state-owned State Grid Corporation of China wants to purchase more energy assets in Australia. State Grid is the largest utility in China and one of the biggest in the world in terms of annual revenue. They plan to pay Singapore Power A$ 824 million for a 19.9% stake in ASX-listed SP Ausnet, an energy distributor. This deal would cut Singapore Power’s stake down to 31%. State Grid would also purchase a 60% position in SPI Australia branded as Jemena, a Singapore Power subsidiary.

In late November 2012, State Grid bought a 41.1% stake in ElectraNet, an Australian power supplier in Southern Australia, for around A$ 500 million from Powerlink Queensland. Powerlink Queensland is a government-owned entity.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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