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Abu Dhabi Investment Authority Appoints Ted Chu as Chief Economist

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According to the ADIA press release, “The Abu Dhabi Investment Authority said today it has appointed Ted Chu, as Chief Economist, effective immediately.

Mr. Chu, who will be based in Abu Dhabi, will be responsible for producing in-depth international and regional economic analyses and making recommendations based on this research.  As a member of ADIA’s Strategy Unit, he will also assist in developing, monitoring and assessing investment strategies across asset classes based on current and projected economic trends.

Mr. Chu joins ADIA from General Motors in Detroit, where he has served since 2006 as Chief Economist and Director of Global Economic & Industry Analysis, responsible for providing the Executive Committee with support on key investment decisions, business planning and strategic research.  He has also held other senior roles within GM since 1996, including senior economist Asia/Pacific, and manager for economic and industry analysis in the Americas, Asia Pacific, and Middle-East/Africa regions.

Before joining GM, Mr. Chu was a macroeconomist at the Central and Eastern European division of the World Bank in Washington.  He also served as an associate consultant specializing in energy and environmental economics at Decision Focus Inc, a Silicon Valley management science consulting firm.  Mr. Chu has an MA and Ph.D in economics from Georgetown University and a BA in economic management from the School of Management, Fudan University, Shanghai.

Commenting on the appointment, Jena-Paul, Head of ADIA’s Strategy Unit, said: “Ted brings with him an exceptional track record in macro strategy at the highest levels.  His knowledge and deep insights into global macro-economic trends will contribute significantly to ADIA’s long term asset-allocation strategy and ability to identify new asset class opportunities. We are very pleased to welcome Ted to the team.”

Mr. Chu said, “ADIA is one of the most prominent and respected organizations in global finance and I am delighted to be working alongside professionals with such deep experience across different asset classes and disciplines.”

Source: ADIA Press Release

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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