stakes

This page highlights current and past investments by overseas sovereign wealth funds and directly by finance ministries.

It covers -

• Nauru
• Singapore
• Kuwait
• UAE
• Qatar
• China
• Iran
• Libya
• Brunei

Coverage is indicative only; some funds have for example sold down or completely exited stakes in particular assets (eg Libya sold its stake in FIAT, Iran moved out of Thyssen-Krupp).

     Nauru

Investments by Nauru, sold in 2003/4, included -

• Nauru House, Melbourne - $140m
• Savoy Hotel. Melbourne - $22
• Downtowner Hotel, Carlton - $14m
• Royal Randwick Shopping Centre, Randwick - $85m
• Mercure Hotel, Sydney - $78m

     Singapore

GIC -

• AT&T Building, New York
• 1 Martin Place, Sydney - $160m (2002)
• Park Hyatt Melbourne - $125.7m (2003)
• InterContinental Hotel Paris - €315m (2005)
• 50 and 56 Georg-Brauchle-Ring, Munich - €300m (2006)
• stake in $1.1 billion redevelopment of Myer flagship site, Melbourne (2007)
• 50% interest in WestQuay Shopping Centre UK - £299m (2007)
• 50% interest in Westfield Parramatta - $717m (2007)
• stake in UBS - US$6.74bn (2007)

Temasek -

• 54% of SingTel (which acquired a controlling stake in Australia's Optus for US$7bn in 2001 and 35% interest in Telkomsel)
• 75% of Asia Mobile Holdings (with 41.9% stake in Indosat) - US$634m (2002)
• 100% of MediaCorp
• 49% of Shin telecommunications/broadcast group - US$1.88bn (2006)
• 18% of Standard Chartered Bank - £4.6bn (2006-7)
• 2.1% of Barclays bank - £975m (2007)
• 12% of ABC Learning Centres of Australia - $401m (2007)
• 9.9% of Merrill Lynch - US$4.4bn (2007)
• 68% of Neptune Orient Lines - US$1.6bn (2004)
• 27.8% of Basslink (through CitySpring Infrastructure Trust) - $1.2bn (2007)
• 42% of Australand (through Capitaland) - $400m

     Kuwait

Kuwait Investment Authority -

• St Martins Properties (1975) - £3 billion commercial property portfolio in Europe and Australia
• 14% of Daimler-Benz (later 6% of DaimlerChrysler)
• Cevahir Mall, Istanbul - US$750m (2006)
• Grupo Torres (US$5bn)
• 69% of Santa Fe International Corporation (SFIC) - (1981)
• 18% of Hoechst - US$420m (1982), later 24.5%, diluted to 14% through 1999 merger with Rhône-Poulenc as Aventis and sold down to 3.4% in 2004
• 20% of Metallgesellschaft (now GEA)
• 14% of Royal Bank of Scotland
• 22% of British Petroleum (1988), later reduced to 2.5%
• drink and food-vendor Autobar (1983)

     UAE

Dubai International Capital -

• Tussauds Group - US$1.5bn (2005)
• Travelodge - £675m (2005)
• 3% of EADS - €608m (2007)
• 2% of DaimlerChrysler - US$1bn (2005)
• stake in HSBC - US$1bn (2007)
• 9.9% of Och-Ziff Capital Management - US$1.26bn (2007)
• "substantial" stake in Sony (2007)
• high tech manufacturer Doncasters - £700m (2007)
• FastenTech - US$492m (2007)
• packaging group Mauser - €850m (2007)

Dubai World -

• Labroy Marine, Singapore - US$1.7bn (2007)
• 9.5% of MGM Mirage - US$5.1bn (2007)
• Peninsular & Oriental Holdings - US$6.8bn (2006)

Istithmar (Dubai)

• Barneys New York -US$942.3m (2007)
• 2.7% of Standard Chartered Bank - US$1bn (2006)

Mubadala Development Company (Abu Dhabi) -

• 7.5% of Carlyle - US$1.35bn (2007)
• 8% of Advanced Micro Devices - US$622m (2007)
• 5% of Ferrari - €114m (2005)
• 35% of Piaggio Aero Industries (2006)

Abu Dhabi Investment Authority (ADIA)

• AP Alternative Assets LP - US$600m (2006)
• 9% of Apollo Management (2007)
• 4.9% of Citigroup - US$7.5bn (2007)
• 4.5% of Toll Brothers (2007)

Abu Dhabi Investment Council

• 90% of Chrysler Building- US$800m (2008)

     Qatar

Qatar Investment Authority -

• 24% of J. Sainsbury - £2.5bn (2007)
• 20% of London Stock Exchange (2007)
• Chelsea Barracks - £900m
• nursing-home operator Four Seasons - £1.4bn
• schools operator Senad - £150m
• 10% of OMX (2007)
• 8.7% of French media and aerospace group Lagardère

     China

China Investment Corporation (CIC) -

• 9.9% of Blackstone Group - US$3bn (2007)
• 9.9% of Morgan Stanley - US$5bn (2007)

     Iran

• 25.01% of Friedrich-Krupp-Hüttenwerke AG - (1974)

     Libya

• 9.8% of FIAT - US$415m (1976)
• 5% of Banca di Roma - US$420m (1997)

     Brunei

• Dorchester Hotel, London
• Bel Air Hotel, Los Angeles
• Beverly Hills Hotel, Los Angeles
• Palace Hotel, New York
• Hôtel Meurice, Paris (1997)
• Hôtel Plaza Athénée, Paris - £45m (1997)
• Hotel Principe di Savola, Milan - €275m (2001)
• Asprey Group - US$388m (1995)
• 13.4% of Macquarie Bank - US$123m (1996)

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