DUBAI (Reuters) – Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial ... More »
MOSCOW (Reuters) – Russia has signed deals to supply South Africa and seven Latin American countries with an anti-viral drug Russian authorities have approved to treat COVID-19, its sovereign wealth fund said on Monday. The Russian Direct Investment Fund (RDIF... More »
LONDON (Reuters) – McLaren’s Formula One future was never in doubt despite a cash crisis brought on by the COVID-19 pandemic and now resolved by a fresh injection of funds, team principal Andreas Seidl said on Tuesday. The National Bank of Bahrain announced on... More »
LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »
(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic. The New Y... More »
DUBAI (Reuters) – United Arab Emirates agriculture technology start-up Pure Harvest Smart Farms has raised $20.6 million in fresh funding and secured commitments for a further $100 million, it said on Monday. Wafra International, an investment firm owned by th... More »
(Reuters) – Private equity firm Silver Lake Partners is preparing to seek at least $16 billion from investors for its sixth flagship buyout fund, braving the economic uncertainty of the coronavirus outbreak, according to people familiar with the matter. Invest... More »
LONDON (Reuters) – Sovereign wealth fund investment in venture capital deals slipped to its lowest level in six years in 2019, with the drop-off deepening in the months after WeWork’s planned share sale failed, data showed on Friday. Sovereign wealth-backed ve... More »
OSLO (Reuters) – Eight candidates have applied to head Norway’s sovereign wealth fund, the country’s central bank said on Tuesday, as its board prepares to decide who should steer the global portfolio of assets worth $1.1 trillion through a time of transition.... More »
DUBLIN (Reuters) – Nine years after a devastating crash in property prices catapulted the party of Irish Prime Minister Leo Varadkar to power, a housing market recovery too rapid for many threatens to dump it into opposition at this week’s general election. Th... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
DUBAI (Reuters) – The International Monetary Fund estimates that Kuwait’s financing needs will amount to some $180 billion over the next six years given the Gulf state’s “modest” fiscal measures and expectations of lower oil prices. Kuwait said earlier this mo... More »
BEIJING/SHANGHAI (Reuters) – U.S. asset manager BlackRock Inc, Singapore state investor Temasek Holdings (Pte) Ltd and China Construction Bank Corp (CCB) have agreed to set up a wealth management joint venture in China, said people with direct knowledge of the... More »
JAKARTA (Reuters) – Indonesia expects to sign more deals with the United Arab Emirates in the energy, health and education sectors during a visit to the country next month by President Joko Widodo, a ministry statement released on Monday said. The Indonesian g... More »
DUBAI (Reuters) – Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional b... More »
LONDON (Reuters) – Sovereign wealth funds regained their appetite for equities in the third quarter, piling into passively managed stocks in the United States and equities in mainland China and elsewhere, according to eVestment data. Passively managed S&P 500 ... More »
OSLO (Reuters) – Norway plans to spend less money next year from its $1.1 trillion sovereign wealth fund, the world’s largest, as economic growth remains strong and unemployment declines, the center-right majority government said on Monday. “The Norwegian econ... More »
DUBAI (Reuters) – Iran will pursue any aggressor, even if it carries out a limited attack, and seek to destroy it, the head of the elite Revolutionary Guards said on Saturday, after attacks on Saudi oil sites which Riyadh and U.S officials blamed on Tehran. “B... More »
LONDON (Reuters) – Sovereign wealth funds’ distaste for equities mostly faded in the second quarter, with some investors turning to emerging- market passive equity funds, data from the research firm eVestment showed on Thursday. Passively managed equity funds ... More »
HONG KONG (Reuters) – China’s Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than $2 billion in its debut fund, giving the private equity firm more firepower to cut deals involving the world’s second-largest economy.... More »
OSLO (Reuters) – Norway’s $1 trillion wealth fund can invest again in miner Rio Tinto and retailer Walmart after their exclusions from the fund’s investments on ethical grounds were revoked, the board of the central bank said on Tuesday. The fund can also resu... More »
DUBAI (Reuters) – Qatar is making $3 billion dollars worth of new investments in Pakistan, in the form of deposits and direct investments, state news agency QNA said on Monday. Following this investment, the economic partnership between Qatar and Pakistan will... More »
TOKYO (Reuters) – Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, and discussions with those investors will begin soon, SoftBank founder and Chief Executive Masayoshi Son said on Wednesday. The... More »
OSLO (Reuters) – Norway’s sovereign wealth fund will pay about $98 million dollars to extend the term of its ownership in a portfolio of New York properties and to acquire a few new, the fund said on Wednesday. “The partnership between Norges Bank Investment M... More »
MANAMA (Reuters) – As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment. A new sales tax introduced this year means gov... More »
KUALA LUMPUR (Reuters) – Malaysian prosecutors on Monday said they would issue summonses to units of U.S. investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year. Soon after bein... More »
(This Feb 7 story corrects to show, in fourth paragraph, that a temperature rise of 2°C is equivalent to 3.6°F, not 35.6°F) By Gwladys Fouche OSLO (Reuters) – Norway’s $1 trillion wealth fund will push the 9,000 firms it invests in to disclose more data on gre... More »
ABU DHABI (Reuters) – ACWA Power is considering supporting the manufacturing of solar panels in Saudi Arabia, its chief executive said, as the power and water plants developer seeks to facilitate Saudi Arabia’s plans to develop its renewable power industry. Sa... More »
KUALA LUMPUR (Reuters) – Malaysia is seeking $7.5 billion in reparations from Goldman Sachs Group Inc (GS.N) over its dealings with scandal-linked state fund 1MDB, the Financial Times (FT) reported on Friday, citing the finance minister. Separately, Bloomberg ... More »
NEW YORK (Reuters) – Goldman Sachs Group Inc Chief Executive David Solomon on Friday defended the bank against criticism of its compliance and oversight related to dealings with the sovereign wealth fund 1MDB, according to a message sent to employees obtained ... More »
DOHA (Reuters) – The Qatar Investment Authority (QIA) has accelerated its investments in technology and is keeping the door open to strategic partnerships for technology investments, its CEO said on Monday. In the United States, the fund is focusing on “classi... More »
HONG KONG (Reuters) – Ping An-backed Lufax has raised $1.33 billion in its latest funding round from a dozen investors, at a valuation below expectations of the financial technology company, people with direct knowledge of the matter told Reuters. The fundrais... More »
(Reuters) – Malaysian officials investigating a multibillion-dollar corruption scheme linked to a Malaysian state fund and former Prime Minister Najib Razak plan to meet with U.S. officials in Washington, U.S. and Malaysian sources familiar with the plans told... More »
SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »
LONDON (Reuters) – Over a third of sovereign investors plan to cut their equity exposure over the next three years after a strong run in 2017, citing trade wars, geopolitics and high valuations as headwinds to performance, a study by asset manager Invesco show... More »
OSLO (Reuters) – Norway’s $1 trillion wealth fund voted against a motion at Shell’s annual meeting urging the energy giant to set climate targets, despite a push the fund is making for more firms to do so. Long-term investors with $10.4 trillion of assets unde... More »
KUALA LUMPUR (Reuters) – Amid mounting suspense in Malaysia, former leader Najib Razak is expected to give a statement to an anti-graft agency on Tuesday explaining what he knew about $10.6 million transferred into his bank account from a unit of a state fund ... More »
LONDON (Reuters) – The shipping industry has long been criticized by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. Now, it is being called to account from a quarter that may have a bit more clo... More »
JEDDAH, Saudi Arabia (Reuters) – Saudi Arabia’s main sovereign wealth fund will set up a network of entertainment centers across the kingdom as the government tries to jump-start a domestic leisure industry, the chairman of the company carrying out the plan sa... More »
PUTRAJAYA, Malaysia (Reuters) – Malaysian opposition leader Mahathir Mohamad challenged the government to charge him under an anti-fake news law, after authorities said they were investigating him for false claims that his plane was sabotaged ahead of the gene... More »
NEW YORK (Reuters) – Corporate pensions are shifting a chunk of their $1.55 trillion in assets into fixed income, which may be sizeable enough to flatten the yield curve further. The funding gap, between what corporations owe in pension plan obligations and th... More »
ISTANBUL (Reuters) – Singapore’s Temasek and Britain’s Metric Capital have bought into Nusr-Et steakhouse owner D.ream in a deal valuing the Turkish firm at $1.2 billion. Nusr-Et was made famous by butcher-turned-social media star Nusret Gokce, who went viral ... More »
FILE PHOTO: U.S. President Donald Trump announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque/File ... More »
LONDON (Reuters) – Ali Shamekh has resigned from his position as chief executive of Libya’s contested sovereign wealth fund, saying divisions within Libya had made it impossible for him to implement a viable program, according to a statement. The $66 billion L... More »
((This Feb. 22 story corrects paragraph 4 to clarify NBIM’s partnership with Crown Estate)) By Noor Zainab Hussain and Esha Vaish (Reuters) – The sovereign wealth fund of Norway bought a 245 million pounds ($342 million) stake in British property group Shaftes... More »
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo BERLIN (Reuters) – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial ... More »
(Reuters) – Canada Pension Plan Investment Board (CPPIB) and Brazil’s Votorantim Group’s energy unit Votorantim Energia have formed a joint venture that will buy two operational wind parks in northeastern Brazil, they said. The wind parks will have a combined ... More »
ABU DHABI (Reuters) – Abu Dhabi’s state investor, Mubadala [MUDEV.UL], has made 15 to 16 investments in Silicon Valley as part of a partnership with Softbank Group, deputy group CEO, Waleed al-Muhairi, told a conference in Abu Dhabi. Mubadala has committed $15... More »
LONDON (Reuters) – Sovereign wealth funds (SWFs) withdrew more money from global stock and bond markets in the third quarter of 2017, albeit at a slower pace with net outflows of $3.7 billion, data from research firm eVestment showed on Thursday. This was down... More »
Investors poured a record $1.3 billion into funds managing tech shares over the past week, contrasting with a picture of ebbing inflow into world equity vehicles and losses on U.S. stock funds, Bank of America Merrill Lynch (BAML) said on Friday. More »
Saudi Arabia's Public Investment Fund plans to invest about $1 billion in Richard Branson's space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published on Thursday. More »
Imagine contact lenses that monitor glucose levels for diabetics, tiny implants to tackle chronic diseases, or algorithms that crunch data to predict illness rates. More »
Private equity funds are increasingly selling minority stakes in investments to pension and sovereign wealth funds as they strive to deliver returns for investors while holding onto prized assets in a hotly competitive market for deals. More »
UBS (UBSG.S), the world's largest wealth manager, is convinced its new online private bank needs to get bigger. Now it needs to work out how. More »
SoundCloud, the world's most popular streaming music app, but one that has struggled to find a profitable business model, said it received new funding on Friday, insulating it from potentially running out of cash this year. More »
FILE PHOTO – Saudi Deputy Crown Prince Mohammed bin Salman waves as he meets with Philippine President Rodrigo Duterte in Riyadh, Saudi Arabia, April 11, 2017. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS Saudi Arabia plans to develop reso... More »
FILE PHOTO: The logo of Qatar Petroleum is seen at its headquartes in Doha, Qatar, July 8, 2017. Picture taken July 8, 2017. Qatar’s tensions with its neighbors are making world markets edgy about any hint of financial instability among the Gulf economies, who... More »
China Investment Corp’s (CIC) $13.7 billion acquisition of warehouse firm Logicor tripled the total value of sovereign wealth funds’ (SWFs) M&A deals in the second quarter to $31.7 billion, just shy of a record set in the third quarter of 2016. More »
Qatar’s Finance minister Ali Sherif al-Emadi speaks during a briefing on the financial outlook for Qatar, in Doha, Qatar, February 7, 2017. REUTERS/Naseem Zeitoon Qatar can easily defend its economy and currency against sanctions by other Arab states, Qatari f... More »
Public sector investors plan to raise exposure to real estate, infrastructure, green bonds and renewables over the coming year, while cutting holdings of low-yielding government bonds, an annual survey showed on Monday. More »
FILE PHOTO: The sign of Japan’s Government Pension Investment Fund (GPIF) is seen after a news conference in Tokyo, Japan, April 1, 2016. REUTERS/Thomas Peter/File Photo Japan’s Government Pension Investment Fund (GPIF) on Tuesday began recruiting asset manage... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co’s wealth management business (WFC.N) said on Tuesday it would launch its new robo-adviser Intuitive Investor later this year in a bid to dev... More »
Some of the world’s biggest sovereign wealth funds are increasingly striking their own private equity deals rather than relying on external fund managers, in a drive to cut costs and gain more control. More »
FILE PHOTO: Turkish lira banknotes are seen in this photo illustration shot January 7, 2014. REUTERS/Murad Sezer/Illustration/File Photo Turkey’s new sovereign wealth fund is more akin to a national development bank, with its design suggesting an effort to cre... More »
Turkey’s Finance Minister Naci Agbal is pictured during an interview with Reuters in Ankara, Turkey, September 27, 2016. REUTERS/Umit Bektas Foreign banks and sovereign wealth funds are interested in working with Turkey’s newly formed wealth fund, which is lik... More »
FILE PHOTO – Mohamed El-Erian speaks during the ”Financial Recovery: When and How?” panel at the 2009 Milken Institute Global Conference in Beverly Hills, California April 27, 2009. REUTERS/Phil McCarten/File Photo Global growth could be better than expected i... More »
A sign of Tencent is seen during the third annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Song Two Chinese companies and Singapore’s sovereign wealth fund GIC have agreed to buy a 10 percent ... More »
A Gabonese man who prosecutors say acted as a “fixer” for a joint-venture involving the hedge fund Och-Ziff Capital Management Group LLC pleaded guilty on Friday to U.S. charges that he engaged in a foreign bribery scheme. More »
Rhode Island-based Citizens Bank said Thursday it is partnering with SigFig, a leading robo-adviser, to help manage the portfolios of the bank’s 1.2 million middle-income retirement savers. More »
Prominent Emirati businessman Mohamed Alabbar said on Sunday he had teamed up with Saudi Arabia’s Public Investment Fund (PIF) and other private investors to launch a $1 billion Middle Eastern-focused e-commerce platform. More »
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo Libya’s $67 billion sovereign wealth fund will turn to the UK Court of Appeal, a source said on Friday, after a high court judge de... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo A British court ruled on Friday in favor of Goldman Sachs in a $1.2 billion dispute with Libya’s $67 billion sovereign wealth fund over deri... More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Abu Dhabi investment firm Aabar Investments [INPTVA.UL] said on Tuesday it was fully behind its Falcon Private Bank unit after it was sanctioned in relation t... More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Singapore’s central bank on Tuesday shut down a second Swiss bank in the city-state and fined banks DBS and UBS in its biggest crackdown on alleged money-laun... More »
The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Och-Ziff Capital Management Group LLC will pay $412 million and CEO Daniel Och will pay $2.17 million to resolve... More »
Russian President Vladimir Putin and U.S. President Barack Obama discussed the conflicts in Syria and Ukraine at their meeting on the sidelines of the Group of 20 summit in China’s Hangzhou, Russian media cited the Kremlin spokesman as saying on Monday. More »
Switzerland’s Falcon Private Bank has appointed ex-Credit Suisse executive Walter Berchtold as chief executive to replace Eduardo Leemann, the wealth manager said on Thursday, confirming what sources earlier told Reuters. More »
LONDON A trial date for a lawsuit brought by Libya’s $67 billion (51 billion pounds) sovereign wealth fund against French investment bank Societe Generale was pushed back to April 25, 2017, by a judge’s ruling in London’s High Court. The case, in which the Lib... More »
TOKYO SoftBank Group Corp (9984.T) said on Friday it was selling a further $1.1 billion of its shares in Alibaba Group Holding Ltd (BABA.N), bringing the total it has sold in the Chinese e-commerce company to $10 billion. Separately, SoftBank agreed to sell mo... More »
DUBAI Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the economy at home. Build... More »
ZURICH Credit Suisse (CSGN.S) is placing asset management under the twin direction of its wealth management and Swiss banking divisions, it said on Sunday, announcing a further strategy rejig after a shake-up in October. Switzerland’s second largest bank will ... More »
BEIJING/SHANGHAI The logistics arm of Alibaba Group Holding Ltd (BABA.N) has completed a funding round, China’s biggest e-commerce company said on Monday. Investors in the funding round of Cainiao include Singapore’s Temasek Holdings [TEM.UL] and GIC Pte Ltd [... More »
Senior investment bankers Zubaid Ahmad and Brad Coleman will be leading a new group at Citigroup Inc focused on better serving clients that are private equity firms, hedge funds and sovereign wealth funds, according to a memo seen by Reuters on Wednesday. The ... More »
SHANGHAI Swiss bank UBS AG plans to more than double the number of staff at its China wealth management teams over the next five years, said Kathryn Shih, Asia pacific president at the bank, in an interview with Reuters on Monday. Shih said market volatility w... More »
BEIJING The International Monetary Fund’s decision on Ukraine’s debt to Russia did not change anything to Moscow, Russian Deputy Finance Minister Sergei Storchak told reporters in Beijing on Thursday. The International Monetary Fund’s Executive Board decided t... More »
KUALA LUMPUR Former Malaysian Prime Minister Mahathir Mohamad and some leaders of the ruling party jointly demanded resolution of the 1MDB state fund scandal on Monday and condemned a crackdown on dissent, signaling a divide within the coalition. Mahathir has ... More »
