Friday SWFI News Roundup, January 2, 2015

WCAS Closes on 12th Flagship Fund

New York-based Welsh, Carson, Anderson & Stowe (WCAS) raised US$ 1.7 billion on December 29th for its first close on Welsh, Carson, Anderson & Stowe XII. This is the private equity firm’s 12th flagship fund. The fund plans for additional closes in 2015. WCAS Co-Founder Welsh worked at Citicorp for 8 years in the bank’s venture capital group before forming the private equity firm in 1979.

Masdar Begins PV Projects in the Pacific

Masdar, also known as the Abu Dhabi Future Energy Company and owned by Mubadala Development Co., initiated its US$ 50 million worth of photovoltaic (PV) projects in Kiribati, Fiji, Tuvalu and Vanuatu. These four solar PV plants plan to deliver 1.8 MW of renewable energy to the island countries. The PV developments are being financed from the Abu Dhabi Fund for Development’s US$ 50 million UAE-Pacific Partnership Fund. In November 2013, Masdar completed the La’a Lahi “Big Sun” solar plant in Tonga.

Temasek Weighs Options on Standard Chartered

Temasek Holdings controls an 18% equity interest in Standard Chartered. The bank has struggled in the markets. Industrial and Commercial Bank of China (ICBC) and Bank of China have approached Temasek about acquiring the sovereign wealth fund’s share in the bank. Another option is Standard Chartered merging with Singapore-based DBS Bank Ltd.

CalPERS Hires Two Lobbyists in DC

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