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Alain Carrier Wins #1 on Public Investor 100-2016

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alain_carrier_headSWFI Staff has released the Public Investor 100. He ranks 1 out of 100 for the SWFI Public Investor 100 – 2016.

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Alain Carrier has a big job. He is Senior Managing Director & Head of International, Head of Europe at CPP Investment Board (CPPIB). Situated in foggy London town, Carrier has a vast geographic boundary to oversee. Before embarking on this senior MD role, he was Head of Europe for the pension behemoth. Carrier has exhibited many of the characteristics of former CPPIB honchos. For example, the former CPPIB CEO Mark Wiseman, who was ranked #2 in the 2013 Public Investor 100 and had an extensive law background before setting foot in the world of Canadian public funds. Carrier, too, has a law M&A background.

Carrier has been with CPPIB since 2008, joining during the chaotic mess of the financial crisis. Carrier is a former Goldman Sachs alumnus, a trait shared by many members of CPPIB’s executive and deal origination teams. At Goldman, Carrier worked on prolific telecommunication and media transactions, including advising cable company NTL and its merger with Telewest.

Another part of Carrier’s role besides overseeing an army of investment professionals competing against private equity firms and other investors for sweetheart assets, is building long-term global advisory relationships. Carrier and his team meet with several different types of firms to source deals, while providing capital in niche areas, where European banks cannot.

Saudi Aramco Contemplates SABIC Stake from PIF

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Oil giant Saudi Aramco is in early discussions on whether to pursue an ownership stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF). At the moment, Saudi Aramco has no plans to buy publicly-held shares of SABIC. SABIC was founded in 1976 by Saudi royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers.

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SWFI First Read, July 19, 2018

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GIC Eyes Provenance Land

GIC Private Limited is nearing a deal to purchase up to 50% of Provenance Land. Provenance Land owns India’s first Four Seasons hotel.

Eduard van Gelderen Leaves UC Regents for PSP Investments CIO Role

Eduard van Gelderen exited his position as Senior Managing Director at the University of California Regents’ Office of the Chief Investment Officer. His role will not be replaced. He accepted an offer to be Chief Investment Officer of the Public Sector Pension Investment Board (PSP Investments).

PAAMCO Prisma Holdings CEOs to Exit

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Google Fined Big Time by EU Regarding Antitrust Violations

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The European Union (EU), through its competition commissioner, levied a €4.34 billion fine against Alphabet Inc., the owner of Google. The fine is over Google having “imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search,” according to the European Commission (EC).

The European Commission is requiring Alphabet to cease from its conduct that it is accused of within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

Commissioner Margrethe Vestager, in charge of competition policy, said in a press release, “Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules.”

The EC press release added, “In particular, Google: 1. has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); 2. made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and 3. has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).”

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