Think you stayed on top of startup news in 2020? The focus on clean tech comes as the new Joe Biden administration in the U.S. is poised to roll-out an ambitious $2 trillion plan to reach net-zero domestic carbon emissions by 2050. Why is the Chinese government going after Jack Ma, the country’s richest man? By: Trung T. Phan | @TrungTPhan December 9, 2020 By Andy Hoffman, Javier Blas and Nicolas Parasie Billionaire Margarita Louis-Dreyfus agreed to sell a 45% stake in the eponymous agricultural trader to an Abu Dhabi sovereign wealth fund, opening the storied family business to outside ownership for the first … The problem is that there is more capital chasing deals than deals to be had,” Azar said. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Louis Dreyfus to sell 45% stake to Abu Dhabi wealth fund . Established in 1971, the role of the PIF has … These cookies will be stored in your browser only with your consent. In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year. In September, venture capital fund Emerald Technology Ventures secured $100 million in funding with Singapore’s state-backed fund Temasek as its cornerstone investor. This site is actually a daily email that covers the important news in business, tech, and culture. That’s a huge trend,” Makram Azar, founder and CEO of private-investment and advisory group Full Circle Capital, said. Among the world’s largest asset holdings are sovereign wealth funds (SWF); some — like Norway’s Government Pension Fund — crack a $1T. How a real-life monopoly made Monopoly the world’s biggest board game, ‘All Gas No Brakes’: The inside story of the internet’s favorite interview series. Often flush from natural resource riches, these pots of money are basically the “Scrooge McDuck swimming in coins” meme come to life. The SWF assets of these countries could be higher by end-2020 than they were in 2019 due to supportive market returns, and despite these governments using more than USD60 billion of SWF … “Pre-pandemic the world was an open oyster where goods could be produced in China, assembled in the E.U. We've detected you are on Internet Explorer. DUBAI: One of the world's biggest grain exporting houses signed an agreement on Wednesday to sell a 45% stake to the Abu Dhabi sovereign wealth fund, both companies announced. Abu Dhabi Investment Authority (ADIA) is a Sovereign Wealth Fund located in Abu Dhabi United Arab Emirates, Middle East, and was founded in 1976. China Investment Corporation—China. Abu Dhabi, like other Gulf oil producers, is seeking to reduce dependence on crude oil and diversify its energy mix. Read: Saudi Arabia’s Sovereign-Wealth Fund to Open Offices in New York and London. Necessary cookies are absolutely essential for the website to function properly. and sold in the U.S. Supply chains are now disrupted and supply-chain security is now at the forefront of thinking,” Azar noted, adding that countries with large populations to feed and desert terrain, for example, are more exposed and need solutions. Nov 30, 2020 • • 2 minute read ROME — Abu Dhabi’s biggest sovereign fund is in talks with U.S. firm KKR to invest in Telecom Italia’s (TIM) last-mile network in a deal that has drawn scrutiny from Italy’s government, three sources close to the matter told Reuters. In addition to directing these billions, he also oversees the country’s nuclear program + relationship with China, and chairs Manchester City Football Club. “In our experience so far, there are many investors looking for these investments and pricing is thus not always as attractive for us,” Tangen, told a parliamentary hearing on Oct. 30 which was reported by Reuters. Privacy policy. The streaming wars are heating up. Abu Dhabi Investment Council (ADIC) is a sovereign wealth fund owned by the government of Abu Dhabi, the capital city of the United Arab Emirates (UAE). Abu Dhabi’s $230B sovereign wealth fund has gone all in during the pandemic, The Hustle employs the world’s best GIF-maker…. It currently has 1,700 employees, representing more than 65 nationalities. This copy is for your personal, non-commercial use only. That spending is up 46% over the entirety of last year, compared to an average decline across all SWFs of 36% per the Wall Street Journal. An error has occurred, please try again later. The exemption has been given under the clause 23 FE of section 10 of the Income Tax Act which allows sovereign wealth funds to invest in … Comments? Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. Take our quiz and find out. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The sentiment was that COVID-19 would wreak havoc on assets but present opportunities. “But COVID-19 has shown us that much more effort is urgently needed to put us on a climate compatible pathway and help us recover better with a sustainable, resilient economy,” he added. Dealmaking in the sector, which covers areas such as renewable power production and energy equipment, has been increasing during the year. A month earlier, Masdar, a subsidiary of Abu Dhabi’s state fund Mubadala Investment, announced its second strategic investment in the U.S. in a … 10. This copy is for your personal, non-commercial use only. Abu Dhabi's biggest sovereign fund is in talks with U.S. firm KKR to invest in Telecom Italia's (TIM) last-mile network in a deal that has drawn scrutiny from Italy's government, three sources close to the matter told Reuters. ... © 2020, Hustle Con Media, Inc., All Rights Reserved. 2007 with $ 200 billion in capital and a mandate to … 10 equipment. Raised $ 24m to create a safer nuclear power option but present opportunities spending a lot more time and on! Has 1,700 employees, representing more than 65 nationalities order presentation-ready copies distribution. Its energy mix, tech, and other treatments for COVID-19 became billionaires the! Discovered a shocking stat: Internet usage grew 2,300 % per year business, tech, and other treatments COVID-19! 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