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BREXIT Happens

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UK Prime Minister David Cameron - Addressing Brexit Outcome

UK Prime Minister David Cameron – Addressing Brexit Outcome

Breaking news. The United Kingdom will leave the European Union. The historic voter result sent the British pound falling to a 31-year low.

The final tally is – Leave: 17,410,742 versus Remain: 16,141,241

Bank of England governor Mark Carney says the central bank is ready to provide £250 billion in extra funds. “The Bank of England is monitoring developments closely,” the central bank commented in a public statement released just prior to 7AM UK time.

Sovereign Wealth Funds

How will Brexit impact sovereign wealth fund direct investing in the United Kingdom? According to data from the Sovereign Wealth Fund Transaction Database, sovereign funds directly invested US$ 17.85 billion in transactions in 2014 and US$ 29.41 billion in 2015 into the United Kingdom.

Before the vote, Norway’s sovereign wealth fund notified the press that they will remain a long-term institutional investor in the U.K. regardless of the Brexit outcome.

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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