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CAD Fund – Sharing the Risk in Africa

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Africa is a resource rich continent with rapidly expanding demographics, but political risks are common in Africa. Launched in 2007, the China-Africa Development Fund (CAD Fund) has fully invested the initial US $1 billion. The CAD Fund can expand up to US$ 5 billion in capital. The initial US$1 billion was derived from the China Development Bank (CDB). The CDB is a government lender owned by the People’s Republic of China. They also finance overseas investment projects.

Currently, the CDB is looking for fund investors for its African investment fund. These investors could include Chinese companies.

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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