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State-invested M&As rise to US$12b globally
By Natsuko Waki |
August 17, 2010, Tuesday
|
Print Edition
Print Edition
GLOBAL corporate mergers and acquisitions activity involving sovereign wealth funds rose to more than US$12 billion in the second quarter with 33 deals completed, Thomson Reuters data showed yesterday.
Globally announced M&A volumes involving state investment vehicles stood at US$12.5 billion in the second quarter, up from just US$1.1 billion in the first three months of this year.
The number of deals rose to 33 from 24 in the January-March period.
A month and half into the third quarter, sovereign wealth funds have made 13 M&A transactions valued at US$2 billion. Of this, they have been on the buy side on six deals, worth US$590 million.
At the height of the boom in the first quarter of 2006, sovereign wealth funds sealed 35 transactions worth US$45.7 billion.
After a poor performance during the financial crisis, many sovereign wealth funds have shifted focus away from aggressive investment abroad and instead put money into assets at home or into "strategic" foreign assets, such as food and energy, that fit in with national economic policy.
Over the past year they also have been expanding their portfolio in emerging and frontier markets, where some of them have invested in long-term infrastructure or resource projects.
Globally announced M&A volumes involving state investment vehicles stood at US$12.5 billion in the second quarter, up from just US$1.1 billion in the first three months of this year.
The number of deals rose to 33 from 24 in the January-March period.
A month and half into the third quarter, sovereign wealth funds have made 13 M&A transactions valued at US$2 billion. Of this, they have been on the buy side on six deals, worth US$590 million.
At the height of the boom in the first quarter of 2006, sovereign wealth funds sealed 35 transactions worth US$45.7 billion.
After a poor performance during the financial crisis, many sovereign wealth funds have shifted focus away from aggressive investment abroad and instead put money into assets at home or into "strategic" foreign assets, such as food and energy, that fit in with national economic policy.
Over the past year they also have been expanding their portfolio in emerging and frontier markets, where some of them have invested in long-term infrastructure or resource projects.
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