Connect with us

Qatar Wealth Fund Backed Legally-Entangled Texas Energy Giant

Published

on

Flying under the radar, Texas-based Vistra Energy (formerly known as TXU), an energy company that emerged from Chapter 11 bankruptcy protection in October 2016, controls TXU Energy and Luminant. The word “Vistra” is a mixing of “Vision” and “Tradition”. TXU Energy operates in the retail electricity market serving roughly 1.7 million residential and business customers in Texas, while Luminant is an independent power producer in Texas, generating approximately 17,000 MW in the state. With its new private equity owners, after bankruptcy protection, Vistra Energy fired some 500 employees, mostly in Dallas and cut overhead costs by more than 50%. The company then paid out a US$ 1 billion “special dividend” to the owners in December 2016 (a special cash dividend of US$ 2.32 per share). The company is still mired in a legal battle with creditors over certain assets.

Vistra Energy Major Shareholders in Equities – March 2017

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

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

Published

on

South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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

Continue Reading

Ripple Attempts to go the Central Bank Route

Published

on

San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Investment Corporation of Dubai Eyes $1 Billion Loan Deal

Published

on

The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.