Sovereign Wealth Funds Warming Up to China Again, Invesco Says
The world's second largest economy has become a high or moderate priority for 59% of sovereign wealth funds surveyed in Invesco's recent Global Sovereign Asset Management Study, up from 44% last year. The survey covered 83 SWFs and 58 central banks, which collectively manage around $27 trillion.
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Yahoo
12 minutes ago
- Yahoo
Rupee to rise at open on NDF lift; U.S. tariffs, inflation on radar
By Nimesh Vora MUMBAI (Reuters) -The rupee is set to open higher on Monday, supported by its recovery in the non-deliverable forward market, while traders remain focused on potential fallout from U.S. tariffs and the upcoming U.S. inflation data. The 1-month non-deliverable forward indicated the rupee will open in the 87.52-87.56 range versus the U.S. dollar, compared with 87.66 on Friday. The NDF move feels "purely positional" and there was no real shift in underlying sentiment, a currency trader at a Mumbai-based bank said, with the structural bias on USD/INR remaining higher till the tariff overhang is in play. The tactical adjustment in NDF likely reflects some trimming of heavy-dollar positions, with the Reserve Bank of India's intervention likely prompting speculators who were betting on a quick leg higher in USD/INR to think twice, the trader said. Over the last two weeks, the RBI has intervened in the non-deliverable forward and onshore spot markets to cushion the rupee against tariff pressures stemming from U.S. President Donald Trump's actions. SOFT US DOLLAR A broadly softer dollar, on growing bets of a Federal Reserve rate cut next month, is expected to aid the rupee amid the tariff noise. The dollar index fell on Monday, extending losses from last week, while most Asian currencies advanced. July U.S. inflation data, due on Tuesday, will be key to gauging Fed rate-cut expectations and the dollar's direction. While the full impact of the latest tariffs may take time to filter into the inflation numbers, the July print will still be heavily scrutinised, MUFG Bank said in a note, adding that June data already showed signs that tariff rates are starting to have a bigger impact. Traders currently see a 90% chance of a September Fed rate cut and are pricing in just over two cuts for the year. KEY INDICATORS: ** One-month non-deliverable rupee forward at 87.66; onshore one-month forward premium at 12 paise ** Dollar index down at 98.08 ** Brent crude futures down 0.5% at $66.3 per barrel ** Ten-year U.S. note yield at 4.28% ** As per NSDL data, foreign investors sold a net $629.4 million worth of Indian shares on Aug 7 ** NSDL data shows foreign investors bought a net $69.1 million worth of Indian bonds on Aug 7 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
EQT to acquire South Korea's leading AI-enabled HR Tech Platform, Remember
Remember has rapidly grown into a leading AI-powered HR tech platform used by the vast majority of South Korea's professional workforce, solidifying its position as a market leader EQT intends to fully support Remember's next phase of growth, leveraging its expertise and experience investing in global HR tech and software sectors The transaction reflects confidence in Remember's leading position in South Korea's HR tech industry and reaffirms its global expansion potential SEOUL, South Korea, Aug. 11, 2025 /PRNewswire/ -- EQT is pleased to announce that BPEA Private Equity Fund VIII ("EQT") has entered into definitive agreements to acquire a controlling stake in Remember & Company ("Remember" or the "Company"), a leading AI-enabled HR tech platform in South Korea. As part of the transaction, major shareholders including Ark & Partners will sell their stakes to EQT. The deal is valued at approximately KRW 500 billion (USD 400 million), making it one of the largest transactions in South Korea's HR tech industry to date. EQT secured exclusive negotiation rights and led the transaction on a proprietary basis, preempting a competitive bidding process, by leveraging its deep sector expertise to recognize Remember's differentiated investment proposition early on. Founded in 2013 as a business card management app, Remember has rapidly grown into a leading AI-powered HR tech platform serving the majority of South Korea's professional workforce. Leveraging a proprietary, self-updating database of over 500 million name cards and 5 million users, it delivers end-to-end recruitment solutions to more than 10,000 enterprise clients – enhancing hiring speed, precision, and recruiter productivity. Beyond recruitment, Remember has evolved into a comprehensive platform integrating content-driven networking, CRM capabilities, and lead generation tools. Often referred to as the "LinkedIn of Korea", it has established a strong presence in a market where LinkedIn remains underpenetrated, while advancing more inclusive and efficient hiring across industries. The deal is underpinned by strong macro tailwinds in South Korea, including demographic shifts, increasing demand for experienced hires and the evolution of recruitment technologies. These conditions are accelerating the adoption of outsourced and AI-enabled talent platforms, particularly among mid-sized and enterprise clients. Backed by strong conviction in these trends, EQT has made several relevant HR tech investments including Beamery in the UK, HRBrain in Japan, Handshake in the US, and PageUp in Australia. Ark & Partners, recognized as a next-generation growth buyout investor in Korea's private equity industry, played a pivotal role in this transaction. Since acquiring Remember in December 2021, Ark & Partners has strengthened the Company's operational capabilities and transformed the business model from a business card app into a fast-growing HR tech platform. As a result, Remember's revenue grew more than twelvefold within three years. Dayea Yeon, Partner in the EQT Private Capital advisory team and Head of EQT Private Capital Korea, said: "Remember is a rare and differentiated asset, uniquely positioned at the intersection of South Korea's demographic structural transformation and the rise of AI-driven talent management. With a clear competitive edge and strong growth trajectory, it represents a highly thematic investment for EQT. By leveraging our global network of industry advisors, along with our in-house digitalization and sustainability capabilities, we are excited to support Remember's ambition to become Asia's leading HR tech platform. This transaction underscores EQT's long-term commitment to Korea and our belief in the transformative power of data and AI to shape the future of work. We look forward to partnering with Remember to drive both innovation and meaningful social impact." Sungmin Kim, Founder and CEO of Ark & Partners, added: "This transaction is a strong validation of our 'secondary growth buyout' strategy, demonstrating how hands-on operational and strategic support can unlock the full potential of high-growth companies. The transition from Ark & Partners to EQT, represents a 'new-generation deal' that highlights the growing interplay between South Korea's venture ecosystem and private equity market. From the beginning, we had conviction in Remember's ability to lead Korea's HR tech transformation. We are proud of what has been achieved and confident that EQT is the ideal long-term partner to guide Remember through its next chapter of growth." EQT has been active in South Korea since 1998 and views the country as a core pillar of its Asia Pacific strategy across private equity, infrastructure and real estate. Through its private capital strategy, EQT aims to support South Korean businesses in achieving their growth and operational ambitions by drawing on the expertise of its global sector teams, in-house capabilities in sustainability and digitalization, and a worldwide network of industry advisors. The transaction is subject to customary regulatory approvals and is expected to close in Q3 2025. With this transaction, BPEA Private Equity Fund VIII is expected to be 90-95 invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). Contact EQT Press Office, press@ This information was brought to you by Cision The following files are available for download: 250811 [Press release] EQT to acquire South Korea’s leading AI-enabled HR Tech Platform, Remember Remember 1 View original content: SOURCE EQT Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
14 minutes ago
- Forbes
Australian Billionaire David Teoh's Simba Telecom To Buy Singapore's M1 In Deal Valued At $1.1 Billion
Simba Telecom—a unit of billionaire David Teoh's Australia-listed Tuas Ltd.—is buying M1 in a deal valuing the Singapore-based mobile carrier at S$1.4 billion ($1.1 billion). Keppel has agreed to sell its 83.9% stake in M1 to Singapore-based mobile operator Simba for cash proceeds of close to S$1 billion, the company said in a statement on Monday. Keppel will retain M1's Information and Communications Technology businesses, which complements the conglomerate's connectivity operations such as data centers and subsea cables. While the transaction will result in a S$222 million loss for state-linked Keppel, the deal 'crystalizes value from Keppel's investment in M1 over the years,' the company said. The sale of M1, which Keppel founded in 1994 to compete with telecom giant Singtel, is expected to be completed in a few months subject to regulatory approvals. The divestment unlocks value for Keppel, which plans to use the cash proceeds to fund growth opportunities, lower debt levels and reward shareholders. Keppel said it has identified a portfolio of non-core assets (worth more than S$14 billion) that it plans to sell. 'M1 and Simba are a highly synergistic combination—together, they can scale more efficiently, optimize infrastructure and accelerate 5G and digital investments,' Loh Chin Hua, CEO of Keppel, said in the statement. Simba's parent Tuas reported a first-ever net profit of S$3 million in its first half ended January as revenue jumped 34% to S$73.2 million. Tuas expects to remain profitable for the rest of the fiscal year. Simba had 1.2 million mobile subscribers and over 14,000 broadband customers as of January. Tuas, which was spun off as a separate listed entity after its parent TPG Telecom merged with Vodafone Australia in March 2020. Teoh, 69, an Australian citizen of Malaysian descent, is the founder and former executive chairman of TPG Telecom. He has a real-time net worth of $2.1 billion, according to Forbes.
