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Alaska Permanent Fund Generates 8.45% Return for 1H FY2018

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The Alaska Permanent Fund Corporation (APFC) generated an 8.45% return in the first half of fiscal year 2018. APFC closed out the 2017 calendar year with assets under management totaling US$ 64 billion. APFC experienced a wide range of issues in 2017 including a battle in state government, which nearly shut down operations. APFC generated 11.89% returns for 1H FY 2018 in public equities. Active equity management contributed positively to the returns.

APFC continues to move more operations in hedge funds (fund-of funds to direct hedge fund investing) and some private equity in-house. The challenge remains hiring professionals to relocate to the long-term in Juneau.

Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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