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China Investment Corporation purchases $1.2 billion Morgan Stanley common stock

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“June 2nd 2009: Morgan Stanley (MS) announced that it had priced a public offering of common stock for proceeds of approximately US$2.2 billion. The proceeds are intended to fully redeem the TARP preferred capital before the end of June.

In view of the excellent relationship with CIC and the preemptive rights CIC holds, MS notified CIC of the offering. CIC sees this as an opportunity to strengthen its relationship with MS, and it decided to participate in the offering and subscribe $1.2 billion common stock. CIC had existing investments in MS before this transaction. On Dec 19th, 2007,CIC purchased $5.6 billion mandatory convertible securities into MS common stock, representing approximately 9.86% equity ownership in MS. Following Mitsubishi UFJ Financial Group, inc.’s investment in MS in October 2008, CIC’s equity ownership was diluted to approximately 7.68%. This new purchase will bring CIC’s equity ownership in MS back to approximately 9.86%, effectively reducing CIC’s overall cost basis and increasing the returns potential.

MS is a leading global financial service firm providing a wide range of investment banking, securities, investment management and wealth management services. MS is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry.

CIC has further strengthened its relationship with MS through the new investments. CIC remains optimistic in MS’ future growth and progress.”

read more: China Investment Corporation

Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Oman Infrastructure Investment Fund Near Creation

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The Oman State General Reserve Fund is nearing the formation of the Oman Infrastructure Investment Fund. This fund will raise capital from third-party investors to invest in Oman’s infrastructure and in certain areas of technology.

The fund will also invest in areas of technology in healthcare, specifically in medical equipment. The fund will also explore investing in blockchain technologies.

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