SWF Radar UBS

Thomson Reuters reports that, “The Government of Singapore Investment Corp (GIC) said on Thursday its over 9 percent stake in UBS AG will be diluted by the Swiss government’s move to invest 6 billion francs in the embattled lender.”

Trade Arabia reports that, “ADIC-UBS Infrastructure Investment, the newly formed joint venture between Abu Dhabi Investment Company and UBS Asset Management said it has appointed Vincent Gilles at its new chief investment officer.”

24/7 Wall St. reported on Tuesday (July 15) that, “UBS AG has a filing today showing that based on action of July 10 the Government of Singapore Investment Corporation Pte. Ltd. [GIC] effectively now holds a 7.9% stake in the company.”

Thomson Reuters reported on Monday (July 14) that, “UBS AG has hired Per E Larsson, chief executive of Borse Dubai, to head up business in the Middle East and North Africa (MENA), the Swiss bank said on Monday.”

CPI Financial reports that, “Swiss bank UBS, which has rarely been out of the headlines as one of the European banks worst hit by the subprime crisis, is planning to move into Saudi Arabia as markets in the West run out of steam. … UBS said it was going [among other things] to increase the size of its investment banking division and expand its equity research coverage in the region.”

Thomson Reuters reports that, “The Russian government is in talks with UBS and other Swiss banks on the management of its two oil wealth funds [the Reserve Fund and the National Wealth Fund(NWF)] which total $163 billion, Deputy Finance Minister Dmitry Pankin said on Tuesday.”

Bloomberg reports that, “Government of Singapore Investment Corp., the city-state’s sovereign wealth fund that invested about $10.6 billion in UBS AG, said it will take up the shares it’s entitled to in a new stock offer by Switzerland’s biggest bank.”

The Financial Times reports that, “Sovereign wealth funds have provided more than half the equity for the BlackRock fund that bought $15bn of troubled mortgage debt from UBS this month, people with knowledge of the matter say.”

The article adds that, “BlackRock has long-standing ties with Middle Eastern and east Asian sovereign wealth funds such as Government of Singapore Investment Corporation. Next week, BlackRock's founder, Larry Fink, is taking his board on a swing through the Middle East with a stop in Kuwait, the KIA said in a press release.”

Thomson Financial writes that, “The Government Investment Corporation of Singapore (GIC) may participate in the 15-billion Swiss franc ($15 billion) rights offering of Swiss investment banking giant UBS AG, the Wall Street Journal reported on Tuesday, citing unnamed sources.”

Bloomberg reports that, “Japan may establish a sovereign wealth fund to boost returns on some of its state assets as early as 2009, according to UBS Securities Japan Ltd.”