SWFI First Read, September 11, 2016

Egypt Gets First US$ 1 Billion Tranche from World Bank

The Egyptian government has received the first US$ 1 billion tranche of a US$ 3 billion policy finance loan from the World Bank. It is a 3-year loan. Egypt has been plagued with a faltering foreign exchange shortage. The program for the loan is called the First Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing (DPF).

BNP Paribas Investment Partners Names Global Head of Sales

BNP Paribas Investment Partners hired James D. Dilworth as global head of sales. This is a new position and Dilworth will be based in London. Dilworth will report to BNP Paribas Investment Partners CEO Frederic Janbon. Dilworth will also be part of the firm’s executive committee. Previously, he was at Deutsche Asset & Wealth Management, where he served as managing director and head of active asset management.

Strathclyde Pension Fund Kicks in More Money of Offshore Wind

Strathclyde Pension Fund has allocated an additional £30 million for offshore wind projects in the United Kingdom. The investment has been made through a follow-on commitment to the Green Investment Bank (GIB).

Bank of China Buys Large Sydney Office Building

The Bank of China has acquired a 14-storey office building in Sydney, Australia for A$ 130 million from Deutsche Asset Management’s RREEF Real Estate. The building is at 140 Sussex Street and has views of Darling Harbour. 140 Sussex Street’s major anchor tenant, ING Australia, plans to move to a new office tower at 60 Margaret Street. The deal was brokered by CBRE. Bank of China also owns an office building at 39 York Street.

San Diego City Employees’ Retirement System to Exit REITs

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