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Saudi Arabia Deputy Crown Prince to Target Majority of Aramco IPO Proceeds for Domestic Use

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In early May 2017, Saudi Arabia Deputy Crown Prince Mohammad Bin Salman Al Saud, in a state televised address, commented that the Public Investment Fund (PIF) will use proceeds from the initial public offering (IPO) in Saudi Aramco will be spent between 50% to 70% domestically. PIF would support and further strengthen the country’s mining, entertainment and domestic arms manufacturing industries. The IPO is due to take place 2018.

In addition, Saudi Arabia’s oil and gas reserves (the wells) will remain in government hands after Aramco’s IPO, according to the Saudi Arabia Deputy Crown Prince. Saudi Arabia is the largest oil exporter in the world.

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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