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$130 Million To $1 Billion, APFC’s Unrealized Gain on Juno

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In greater frequency, sovereign wealth funds are participating as cornerstone investors, not just in Asia, but in U.S. pharmaceutical companies. Sovereign wealth centers on the importance of high-quality deal flow, eagerly waiting for special opportunities from their vast lineup of asset managers. These special opportunities can lead to outsized investment returns for public institutional investors. By taking on a level of idiosyncratic risk, the Alaska Permanent Fund’s investment in Seattle-based Juno Therapeutics, Inc. has been an unrealized boon for the portfolio’s performance. This unorthodox investment has some risks, as Juno Therapeutics has no revenue, no recorded profits and is in the competitive market of cancer-curing therapies.

APFC’s US$ 128.5 million allocation, the investment over 15 months prior to Juno’s initial public offering, was worth on February 18th, US$ 1.093 billion.


Trend ReportThis brief SWFI trend report charts and graphs direct healthcare investments made by sovereign wealth funds.You must be logged in to download the trend report.

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Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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