SWFI First Read, November 29, 2018
Posted on 11/29/2018
Norges Bank Tells SWF to Continue to Take Risk
Egil Matsen is the Deputy Central Bank head of Norges Bank, which oversees Norway Government Pension Fund Global (GPFG). Matsen in a speech said, “Although we must seek to limit the risks we encounter, we must at the same time reiterate that some risk is worth undertaking.”
Deutsche Bank Gets Hit Again on Panama Papers
Government prosecutors raided the headquarters of Deutsche Bank AG over a money laundering probe. The bank’s headquarters is in Frankfurt. Deutsche Bank confirmed that police are investigating the bank in an investigation related to the Panama Papers – a leak disclosing offshore accounts held by policymakers, executives, and the like.
Samsung Life Sells Commerzbank’s London HQ
Commerzbank AG’s London headquarters, at 30 Gresham Street in London, was sold to Singapore-based Wing Tai Holdings for 460 million GBP. The seller is Samsung Life Insurance Co. Ltd., a unit of the Samsung Group. Samsung Life acquired the building in 2013 from Singapore’s GIC Private Limited for 310 million GBP.
Microsoft’s Bet on AR Pays Off
Tech giant Microsoft won a US$ 480 million contract to provide the U.S. Army with augmented reality (AR) headsets. The contract calls for 100,000 HoloLens headsets for combat missions and training.
Palatine Private Equity Buys CET UK
Palatine Private Equity, through Palatine Fund III, acquired a majority stake in CET UK, a specialist provider of infrastructure and property assurance services, in a secondary buyout transaction. The private equity firm used debt to fund the deal.