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China’s NSSF Buys Private Placement Shares in GD Power Development Co Ltd

China’s National Social Security Fund (NSSF) will purchase 2 billion yuan (US$ 317.98 million) worth of A shares of common stock in GD Power Development Co Ltd in a private placement. The NSSF will purchase 50% of the company’s newly issued shares.

The NSSF will have a 5.32% stake in the company, allowing the NSSF to be the number two shareholder.

The NSSF plans to hold the shares for at least three years. GD Power is one of China’s big five energy firms.

Revenue Figures for GD Power Development Co., LTD
in Million yuan

Fiscal Period 9/30/2012 6/30/2012 3/31/2012 12/31/2011 9/30/2011
Total Revenue 14,085 13,843 12,858 14,187 12,669
Cost of Revenue 10,957 11,119 10,913 12,297 10,585
Operating Income 1,811 1,349 558 1,814 1,278

Source: Filings

Ardian Auctions Off €1 Billion in Infrastructure Assets to APG

French private equity giant Ardian has auctioned off an undisclosed stake in a portfolio of European infrastructure assets valued at €1 billion to Dutch asset owner manager APG Investments. APG, which first invested in the portfolio in 2006, plans on buying out partnership interests in the portfolio held by other investors. French multinational insurance firm AXA SA will retain its stake as a co-owner of the portfolio alongside APG, with Ardian staying on as asset manager and advisor. The transaction remains subject to regulatory approval.

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Tribal Council Approves Cherokee Nation Sovereign Wealth Fund Act

Tahlequah, Oklahoma-based Cherokee Nation Tribal Council approved the creation of the Cherokee Nation Sovereign Wealth Fund Act to establish a fund to ensure the continuation of tribal operations and the general welfare of tribal citizens.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Participates in Series D Round in Chinese Mafengwo Travel Platform

Image Source: Screenshot from Website – December 12, 2017

Chinese social travel platform Mafengwo has raised US$ 133 million in a Series D funding round with aid from new investors, including private equity investor General Atlantic, tourism-centric Ocean Link, the Yuantai Changqing venture capital fund, Hopu Investment Management, and Singapore’s Temasek Holdings. Existing investors Capital Today, Qiming Venture Partners, and Hillhouse Capital also participated in the latest funding round.

Founded in 2010 by chief executive Gang Chen and chief operations officer Gang Lv in 2010, Mafengwo is popular among the Chinese millennial demographic, who use the app to look up travel information and booking services for nearly 60,000 destinations around the world. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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