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Amyris Hits Milestone, Raises Money from Temasek

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On December 24th, Emeryville-based Amyris Inc., a renewable products company, announced an agreement to sell senior convertible promissory notes in a private placement to Singapore’s sovereign wealth fund Temasek Holdings for US$ 25 million. The chemical and fuels company also sold an additional US$ 3 million to investors associated with Wolverine Asset Management (WAM), an alternative asset management firm that specializes in convertible arbitrage. WAM is headquartered in Chicago, Illinois.

The closing of the placement, which is expected around January 15 of 2014, is the second in a two round convertible note placement. Amyris announced in September that stockholders approved an offer up to US$ 110 million in senior convertible notes in two tranches, according to a press release issued by Amyris. The first closed on October 16. Temasek was part of a group of investors included in US$ 51.8 million issuance.

The latest issuance arose after Amyris completed “certain milestones” relating to “production metrics associate with Amyris’ production facility located in Brotas, Brazil, and completion of agreements related to Amyris’s fuels joint venture with Total,” Amyris said in a statement.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Calamos Investments to Acquire Timpani Capital Management

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Naperville, Illinois-based Calamos Investments signed a deal to acquire Milwaukee-based Timpani Capital Management LLC, which focuses on small and small-midcap growth investing. Founded in April 2008, Timpani Capital Management oversees around US$ 588 million in assets. The deal is expected to close in the second quarter of 2019.

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RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings

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The Russian Direct Investment Fund (RDIF) and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. SBI Bank LLC will undergo a large-scale reorganization.

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Ocasio-Cortez and Maxine Waters to Oversee US Banking System via House

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The youngest woman ever to serve in U.S. Congress – starting at the age of 29 – already has an opponent in her sights. Freshman U.S. Representative Alexandria Ocasio-Cortez, often dubbed AOC on Twitter, was appointed to the House Financial Services Committee, where the democratic socialist will oversee Wall Street. This committee oversees the banks and financial institutions of the United States. With Republicans controlling the U.S. Senate and the White House, and the Democrats controlling the House, one can expect less game-changing bills being turned into laws in the banking sector.

While bartending and waiting tables at the Flats Fix taco bar in Union Square, Ocasio-Cortez upset the more centrist Representative Joe Crowley, Chairman of the House Democratic caucus. Encouraged by her success, other far left democrats are planning to challenge moderate democrats in the 2020 primaries. Ocasio-Cortez is also expected to further strengthen the influence of Chairwoman Maxine Waters of the House Financial Services Committee. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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