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China May Create Another $300 Billion Sovereign Investment Entity

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China has $3.2 trillion in foreign exchange reserves. Over the past decade, China has been a key investor in U.S. government debt; however, combined with factors such as low yields and quantitative easing, China is hedging itself up the asset class ladder further into equities. In 2007, China established the China Investment Corp (CIC).

It is rumored that the People’s Bank of China plans to develop a new investment vehicle to manage investment funds worth around US$ 300 billion. The investment vehicle would be affiliated with China’s State Administration of Foreign Exchange (SAFE). The investment style would be similar to Hong Kong-based SAFE Investment Company Ltd also known as Hua An.

The proposed vehicle would operate two funds. One fund would be called Hua Mei (China-US) and focus on the United States. The other fund would be called Hua Ou (China-Europe) and focus on Europe.

PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gathering new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

A Logical Connection

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CDPQ Providers Firepower for Blackstone Buyout of PIRET

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Ivanhoé Cambridge, part of CDPQ, is a co-investor in Blackstone Group’s buyout of Pure Industrial Real Estate Investment Trust (PIRET), a listed Canadian warehouse owner. The actual Blackstone buyer is an affiliate of Blackstone Property Partners, its core real estate investment unit. The agreement was revealed on January 9, 2018. Blackstone moved to buy the REIT) for C$ 8.10 per Unit in an all-cash transaction valued at C$ 3.8 billion including debt. The transaction value without debt is C$2.48 billion.

Deal Advisors

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