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CDPQ and Ardian Fly Toward Deal Close on Alvest

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Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) and French investment house Ardian have completed their acquisition of a significant stake in Paris-based Alvest SAS – one of the world’s leading providers of ground support equipment to the aviation industry – for an undisclosed amount from France-based Sagard Private Equity Partners, which acquired Alvest in 2015. Sagard Private Equity Partners is the buyout arm of the Power Corporation of Canada.

The buyout was reportedly backed by €375 million (US$ 435 million) in debt financing led by the Bank of Ireland, BNP Paribas, Credit Agricole, Credit Industriel et Commercial, ING, and Societe Generale – all of which have lent their coin to Alvest previously.

The deal between CDPQ, Ardian, and Sagard was agreed to back around September 7, 2017. Furthermore, this is Ardian’s second tour with Alvest, as Ardian was a former shareholder of the company alongside Equistone Partners from 2006 to 2013.

Ardian Will Fly with a Larger Alvest

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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