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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.

Cryptocurrencies Creep into the Middle East

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Banking behemoth J.P. Morgan Chase disclosed its own digital currency called JPM Coin. The digital token will be used to settle payments between clients. JPM Coin will be backed by physical U.S. dollars and be based off Quorum. Quorum is J.P. Morgan’s private Ethereum-based chain. JPM Coin plans to compete with Ripple, which created XRP, another digital currency that is used for settlements. Ripple’s main target market is cross-border payments and remittances.

The Central Bank of the United Arab Emirates and the Saudi Arabian Monetary Authority have unveiled their plans for Aber, an interbank digital currency. Both banks have indicated that Aber will be limited to financial settlements using distributed ledger technologies. It will be rolled out on a probational basis, and used by select banks within the two countries. A date for rollout has not yet been declared. A joint statement hinted at a broader application of the currency in the days ahead. If “no technical obstacles are encountered, economic and legal requirements for future uses will be considered.”‏ Blockchains and Distributed Ledgers technologies will be employed. The plan is for ‘Proof-of-Concept’ testing, which involves studying and fully comprehending the ways modern technologies can achieve practical applications. The digital currency has the potential to become a reserve system for central payments.

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CPPIB Inks Partnership Vehicle with La Française and its Shareholder CMNE

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La Française and Canada Pension Plan Investment Board (CPPIB) formed a strategic partnership for the launch of a real estate investment and development vehicle: Société Foncière et Immobilière du Grand Paris. The joint venture between CPPIB (80%) and Caisse Fédérale du Crédit Mutuel Nord Europe (CMNE) (20%), La Française’s shareholder, will invest in major real estate projects linked to the Grand Paris infrastructure in the Greater Paris area. The parties will initially allocate €387.5 million in equity to the venture. The partnership will target regeneration and infrastructure-led investments.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norges Bank Governor Voices Opinion on Relaxing SWF Withdrawals over Specific Uses

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Øystein Olsen, the Governor of Norges Bank, which oversees the Norway Government Pension Fund Global (GPFG), voiced his opinion on the Norwegian government’s plans to alter the rules that regulates the country’s SWF withdrawal rules in certain circumstances. The coalition government led by Norwegian Prime Minister Erna Solberg wants to relax the limits on SWF withdrawals in specific cases. Norway’s government seeks to raid the fund to pay for the replacement of four major state buildings impacted by a terrorist attack and a crashed Royal Norwegian Navy frigate (KNM Helge Ingstad).

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