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Alaska Permanent Fund Buys Stake in 299 Park Avenue

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The Alaska Permanent Fund which as of August 24, 2011, had a value of US$ 37.58 billion in assets has purchased a stake in a Class A New York property. The APFC is an active investor in core real estate throughout the United States.

The Rockpoint Group was the seller in this transaction. The 49.5% stake was for an office property on 299 Park Avenue at the cost of $1,075 per square foot. The real estate deal has revalued the whole property at US$ 1.25 billion. The majority owner is developer Fisher Brothers who occupies the top two floors of the building. The Park Avenue office building was completed in 1967.

The building is well leased by several financial firms, including being the New York City headquarters for UBS Investment Bank.

Brief History
Jan 2010 – UBS sells 49.5% stake to Rockpoint Group for US$ 150 million in cash and assumes US$ 325 million mortgage

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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