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Qatar Sovereign Wealth Fund May Be the Next Owner of HSBC Tower

The Qatar Investment Authority (QIA) is still pursuing real estate assets across Europe. The sovereign wealth fund holds interests in many notable UK companies and assets such as Sainsbury’s, Harrods, London Stock Exchange and the Shard. The QIA has made a £1.1 billion offer for the HSBC tower in London’s Canary Wharf at 8 Canada Square. The sovereign fund has fended off Chinese insurance giants Ping An and China Life to become the preferred bidder.

See Institutional Investor Profile of Qatar Investment Authority

In April, the HSBC tower was put for sale by its owner, Korea’s National Pension Service (NPS). In November 2009, the NPS bought the building for £772.5 million. The NPS is looking to cash in its appreciation from London’s heated real estate office market.

Jones Lang LaSalle (JLL) and GM Real Estate were hired to sell the tower by JP Morgan (acting on behalf of Korea’s NPS.)

UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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