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AIIB Positions Itself within India, Seeks Opportunity with NIIF

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Beijing-based Asian Infrastructure Investment Bank (AIIB) is planning on investing US$ 200 million toward India’s National Investment and Infrastructure Fund (NIIF), on top of US$ 1.5 billion in assistance for infrastructure-related projects in India for 2018, said AIIB president Jin Liqun following a meeting with India Prime Minister Narendra Modi in New Delhi on February 27, 2018. Jin Liqun’s high-profile visit with Modi and senior members of his cabinet – including Indian Finance Minister Arun Jaitley, Transportation Minister Nitin Gadkari, and Minister of Housing and Urban Affairs Hardeep Singh Puri – is seen as a prelude to AIIB’s 3rd Annual General Meeting to be held in Mumbai in June 2018.

NIIF Background

Established as a sort of fund-of-funds in December of 2016 with some US$ 6 billion in initial funding, the NIIF serves as an investment vehicle financing commercially viable greenfield, brownfield and stalled infrastructure projects within India. Its master fund – which closed in mid-October of 2017 with the government investing 49% – saw contributions from a range of institutional investors, including a US$ 1 billion investment agreement with the Abu Dhabi Investment Authority (ADIA).

India’s Role in AIIB

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CalPERS Commits $5 Billion Toward US Enhanced Equity Strategy

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The California Public Employees’ Retirement System (CalPERS) moved US$ 5 billion toward an internally-managed U.S. enhanced equity strategy. This falls under the global equity bucket at CalPERS.

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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