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Apollo Closes Buyout Fund Near $15 Billion Target

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Dow Jones reports that, “The latest fund was at $12.5 billion in April with the majority of that amount collected in 2007. The vehicle raised $3 billion between the end of 2007 and April. That meant that Apollo was also somewhat sheltered from the market tumult following the Lehman Brothers Holdings’s bankruptcy in September, which took overall private equity fund-raising into a more severe slowdown. The majority of capital for the vehicle was raised before that event as Apollo had closed on $14 billion as of August.

Limited partners in the new fund include Teacher Retirement System of Texas, California Public Employees’ Retirement System, Canada Pension Plan Investment Board, Kuwait Investment Authority, Los Angeles City Employees’ Retirement System, Oregon State Treasury, Louisiana State Employees’ Retirement System, San Francisco Employees’ Retirement System, Portfolio Advisors LLC, Santa Barbara County Employees’ Retirement System, San Bernardino County Employees’ Retirement Association, New Mexico Educational Retirement Board and Los Angeles Fire and Police Pensions.”

read more: Dow Jones Private Equity Analyst

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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