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AIMCo Names Two New Board Members

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The Alberta Investment Management Corporation (AIMCo) has two new board members, Kenneth Kroner and Phyllis Clark. The official appointments follow the signing of the Order in Council by the Lieutenant Governor of Alberta on November 29, 2016.

On behalf of the Board of Directors, AIMCo Chair, Mac Van Wielingen states in a December press release, “Ms. Clark and Mr. Kroner are two excellent additions to AIMCo’s Board of Directors, each of whom have built exceptional careers from strong Alberta roots. We are proud that they have chosen to share their knowledge and expertise with AIMCo, as we strive to build a world class investment management organization here in the province. My colleagues, and I, look forward to welcoming Phyllis and Ken to the Board.”

View Board and Advisors of AIMCo

Kroner was previously Senior Managing Director at BlackRock, where he was the global head of the Multi-Asset Strategies Group and the global head of Scientific Active Equities. These teams were responsible for managing several hundred billions of dollars of publicly-traded assets. He also served as a member of BlackRock’s Global Executive Committee and Global Operating Committee. Dr. Kroner’s service with the firm began 1994, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009.

Phyllis Clark served as the Vice-President (Finance and Administration) and Chief Financial Officer at the University of Alberta, from 2002 to 2016.

RDIF and Makara Capital form Technology Company Investment Joint Venture

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The Russian Direct Investment Fund (RDIF) and Singapore-based Makara Capital, a specialist in transaction financing and asset management, signed a deal to form a US$ 200 million joint investment platform to finance breakthrough innovative projects in Russia and Asia. Ali Ijaz Ahmad, the CEO of Makara Capital, is a board director of the Intellectual Property Office of Singapore (IPOS). Ali Ijaz Ahmad served as an adviser to Morgan Stanley and The Carlyle Group. He also had stints at the World bank and Goldman Sachs. Makara Capital was founded in 2005 as a joint venture with Credit Suisse AG and made independent by its founding partners in 2008.

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SVB Financial Group to Acquire Leerink Holdings

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Linking Boston to the San Francisco Bay Area in the world of pharmaceuticals, SVB Financial Group (SVB) announced that it has entered into a merger agreement to acquire Leerink Holdings LLC, the Boston-based parent company of Leerink Partners LLC, an investment bank focused on the healthcare and life science industries. Jeffrey A. Leerink formed Leerink in 1995. Santa Clara, California-based SVB Financial Group is the parent company of Silicon Valley Bank. SVB is big into life sciences and provides services to many healthcare companies and startups.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Digital Currencies Gaining Steam Among Central Banks

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At the Singapore Fintech Festival, International Monetary Fund head Christine Lagarde noted that central banks should consider issuing digital currency, as non-cash payments increased over the years – especially in developed markets. Digital currencies, also known as cryptocurrencies, such as bitcoin have lost tremendous value in recent months. Lagarde is referring to having the central bank issue digital currencies. Lagarde argued that a digital currency would be the liability of the state and not a private company. Saudi Arabia, China, Canada, Sweden, and even Uruguay have tinkered with possibly having digital currencies or some form. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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