Connect with us

SWFI First Read, March 9, 2018

Published

on

IMF Prods Thailand on Forming a Sovereign Wealth Fund

The International Monetary Fund (IMF) hinted that Thailand should make a sovereign wealth fund. This was revealed by Thai Deputy Prime Minister Somkid Jatusripitak. Thailand has accumulated a large pool of large foreign reserves. Thailand has already heavily studied the option of having a sovereign wealth fund.

Mubadala Could be Selling EMI Music Publishing

Mubadala Investment Company is seeking interested parties for its stake in EMI Music Publishing. Tokyo-based Sony Corporation is in talks with Mubadala on the potential deal. Sony already owns roughly 40% of EMI.

Dual Class Share Companies May Have to Disclose More to SEC

The Securities and Exchange Commission could mandate more disclosure from listed companies with dual-class shares. The SEC Investor Advisory Committee unanimously approved a recommendation to require more disclosure – requesting the commission’s corporate finance unit to “to respond to the increase in dual-class and other entrenching governance structures by continuing to scrutinize disclosure documents filed by companies with such structures.”

Senate Shoots Down $94 Trillion Green New Deal, 57 to 0

Published

on

The U.S. Senate voted down U.S. Representative Alexandria Ocasio-Cortez’s Green New Deal. The tally was 57 (No) to 0 (Yes). 0 Democrats voted for the deal. 43 senators voted present.

Democratic Senators Joe Manchin of West Virginia; Kyrsten Sinema of Arizona; and Doug Jones of Alabama all voted no as did Independent Senator Angus King.

Even Senator Ed Markey of Massachusetts, a co-sponsor of the original resolution, did not vote “Yes” on the bill.

Continue Reading

OppenheimerFunds to Lose 850 Jobs in Mile High City

Published

on

Invesco Management Company, upcoming owner of OppenheimerFunds, is reducing Oppenheimer’s Denver office by a jaw-dropping 850 employees. The employees losing their jobs represents 85% of the staff in the area. The Oppenheimer office, which resides in Centennial, employs 1,000 workers. Invesco’s US$ 5.4 billion purchase of the company closes in May 2019. As is typically the case in corporate acquisitions, redundancies in staff are being targeted to improve the overall economic performance of the new, combined organization. Invesco suspects that US$ 475 million in synergies can be reached through layoffs and other measures.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Keppel Land China and Alpha Investment Partners Acquire Majority Stake in Yi Fang Tower

Published

on

Alpha Asia Macro Trends Fund III, Keppel Land China Limited (part of the Keppel Corporation), and a number of investors purchased the Yi Fang Tower mixed-use complex for 4.6 billion RMB. The tower is located in Shanghai in the historic Bund area. Alpha Asia Macro Trends Fund III is taking 42.1% stake, while Keppel Land is taking a 29.8% stake in the asset. [ 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.