Hat tip-Margo I.

Sovereign Wealth Funds/SWF
March 29, 2008
http://swfmoney.blogspot.com/2008/03/sovereign-wealth-fundsswf.html
Government backed investment vehicles, total
worth about $3 Trillion, growing fast thanks
to high oil prices and surging Asian exports –
deals and related Investors

Name/country/size:

1. Alaska Permanent Fund Corporation – USA – $38 Billion

2. Government Pension Fund – Norway – $380 Billion
invested in 42 markets and in 31 currencies

3. Australian Future Fund – Australia – $61 Billion

4. Alberta Heritage Fund – Canada – $17 Billion

5. Brunei Investment Agency – Brunei – $30 Billion –
possible injection into Merrill Lynch – not confirmed

6. Khazanah Nasional Berhard – Malaysia – $26 Billion –
34 deals valued at some $6 Billion

7. Taiwan National Stabilization Fund – Taiwan – $15 Billion

8. Korean Investment Fund Corporation/GIC – South Corea –
$30 Billion – injected about $6 Billion into Merrill Lynch with
the Kuwait Investment Authority/KIA, the Japanese Mizuho
Financial Group, in addition to Temasek’s $4,4 Billion
(total provided to Merrill Lynch about $10,4 Billion)

9. Temasek Holdings – state run Singaporean Investment
Fund – $159 Billion – invested into Barclays plc $2 Billion/2,1%
Standard Chartered $4 Billion/13% in addition to $1,4 Billion
/3,74%, Merrill Lynch $4,4 Billion, close ties to US-portafolios,
long term investments, completed about 97 deals valued
at $41,6 Billion

10.Government of Singapore Investment Corporation/GIC –
Singapore – $330 Billion – teamed up with Saudi Arabian
Monetary Agency/SAMA to inject $11,5 Billion into UBS,
with GIC putting up around $9,6 Billion of the total and
increasing its stake in UBS to about 9% from 1,1%. When
Citigroup looked for a second round of capital injection,
GIC poured in about $6,9 Billion, also injected $5 Billion
into Merrill Lynch, involved in other 39 deals valued at
about $33,6 Billion – GIC considers large investments into
UBS and Citibank as long-term investments with good
returns when markets stabilize, however warns that we
could be facing a recession which is longer, deeper and wider
than any recession before in the last 30 years!

11.CITIC CAPITAL – China – $135 Billion – China’s
Government controlled CITIC and US Investment Bank
Bear Stearns agreed to invest in each other $1 Billion
(6% stake of Bear Stearns), however distancing itself
from this swap, as Bear Stearns, the 5th largest US
Investment Bank, troubled with extensive holdings of
mortgage-backed securities, has been bought by JP
Morgan Chase in a stock swap transaction worth $236
Million, value raised by JPMorgan Chase to $1,2 Billion
to calm Bear Stearns shareholders opposing the deal

12.China Development Bank/CDB – China – $315 Billion –
bought 3,1% in Barclays Bank for $3,36 Billion

13.China Investment Corporation/CIC – China – new
$200 Billion investment arm of the People’s Bank of
China (Central Bank) – to invest 1/3 into the Central
Huijin Investment Company with shares in state-owned
banks, 1/3 to recapitalise the Agricultural Bank of China
and the China Development Bank and 1/3 for overseas
investments – injected $3 Billion into the private US equity
giant Blackstone Group and took a 9,9% stake in Morgan
Stanley investing $5 Billion, also invested about $4 Billion
into the new US private equity JCFlowers Fund and
$200 Million in VISA’s IPO –
considering the fast growing reserves of China, CIC might
be the SWF leader within the next years with a $1 Trillion
or more size –

13a)Central Huijin Investment Company, a wholly
owned subsidiary of China Investment Company/CIC –
has controlling interests in Bank of China, China
Construction Bank – Bank of America, as strategic partner
holds a stake of 8,52% to be increased to 10,75% and
finally to 37% and converted into a credit card joint venture,
and Industrial and Commercial Bank of China

13b)China’s State Administration of Foreign Exchange/
SAFE, which operates under the People’s Bank of China
(Central Bank) bought a stake of 1,6% at about $2,8 Billion
in France’s Oil Group TOTAL and a just under 1% stake in
BP at about $1,97 Billion – SAFE’s subsidary, SAFE
Investment Company, based in Hong Kong, bought smaller
stakes of three of Australia’s largest banks – may be taking
stakes on behalf of CIC or in preparation for an eventual
merger with CIC

14.Future Generations Fund – Russia – $30 Billion

15.Stabilization Fund of The Russian Federation –
Russia – split up into two separate entities:
I. Reserve Fund – $125 Billion, II. National Wealth Fund/
NWF – 32 Billion

15a) GAZPROM – Russia – the world’s largest gas
producer, an energetic giant worth some
$280 Billion, looking for investments in Europe and
Africa/Algeria-Libya-Nigeria –
Libya swaps debt $4,5 Billion with Russia for major
contracts for Russian firms/GAZPROM agreed to set
up a joint venture with the National Oil Corporation
of Libya to explore, produce, transport and sell oil
and gas, eventually working together with Italy’s ENI,
already the leading foreign oil and gas operator in
Libya – GAZPROM holds also talks with Nigeria to pipe
Nigerian gas to Europe across the Sahara

16.National Fund of the Republic of Kazakhstan –
Kazakhstan – $23 Billion

17.Fondo de Regulation des Recettes – Algeria –
$43 Billion

18.Oil Reserve Fund – Libya – $50 Billion

19.Iran’s Oil Stabilization Fund/OSF – Iran –
$13 Billion

 

 

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