Connect with us

Russia and Turkey Go for the Gold

Published

on

Russia added nearly 63 metric tons to its gold reserves in the first quarter of 2018 for a reported cache of 1,891 tons, surpassing China as the fifth-largest sovereign stockpiler after bulking up on the precious metal every month since March of 2015 – exactly a year after the United States and its allies imposed economic sanctions on the Kremlin for its involvement in Ukraine in 2014. Four years and 700 tons of bullion later, financial tensions between the two countries show no signs of improving, and so Russia’s gold rush continues.

With the ruble on the decline and capital outflows at an all-time high in 2017, gold has proven to be Russia’s instrument of choice for shoring up its financial vulnerabilities in the face of its ongoing isolation on the international stage of Western powers. Moscow doesn’t have to look very far for it either; some 200 tons of gold are mined in its own backyard every year, making it the precious metal’s third-largest producer. The Central Bank of Russia (CBR) – identified last year as the globe’s leading stockpiler by the World Gold Council – purchases roughly two-thirds of that amount each year. The central bank keeps all of its gold at home.

Advantages of Bullion

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

Johnson Controls Sells Battery Unit to Brookfield and CDPQ

Published

on

Brookfield Business Partners L.P. and Caisse de dépôt et placement du Québec (CDPQ), announced that they have reached an agreement whereby Brookfield and CDPQ will acquire 100% of Johnson Controls’ Power Solutions business for in a cash valued transaction valued at approximately US$ 13.2 billion. Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. Closing of the transaction remains subject to customary closing conditions including regulatory approvals. Closing is expected to occur by June 30, 2019. The seller is Johnson Controls International plc. The unit employees roughly 15,000 people.

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

Continue Reading

MAS Seeks to Commit $5 Billion to Private Equity and Infrastructure Managers

Published

on

From U.S. pension funds to asset-heavy sovereign wealth funds, Singapore is calculating that more institutional investor assets globally are being committed to the Asia region. The Monetary Authority of Singapore (MAS), Singapore’s central bank, signaled and planned to commit US$ 5 billion with locally-based fund managers who will invest in private enterprises and infrastructure projects. The beneficiaries of the mandates will be private equity and infrastructure fund managers. MAS is seeking to lure top global asset managers to Singapore and firms that have a significant footprint in Singapore could be eligible for the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Ivanhoe Cambridge Acquires Cap Ampere Campus from Natixis

Published

on

In one of the largest transactions in the French office sector, Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ), has acquired a 90,000 square meter office-building campus from Natixis, in the Greater Paris area of Saint-Denis Pleyel. [ 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.