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China’s SAFE, ADIA, CPPIB and Others Bid for Madrilena Red de Gas

Sovereign wealth funds, pension funds and other institutional investors are circling around a Spanish energy infrastructure asset. Madrileña Red de Gas, a Spanish natural gas distributor which is majority-owned by Morgan Stanley’s infrastructure unit, has three bidding groups left in the running. Some of these institutional investors include Abu Dhabi Investment Authority, CPPIB and SAFE Investment Company. Morgan Stanley shelved plans to have an initial public offering for the asset – instead favoring selling the asset.

Citigroup is assisting the sale.

Madrileña Red de Gas posted €180.8 million in revenue for 2014. In 2010, Madrileña Red de Gas was sold to Lisbon-based Galp Energia and Morgan Stanley for €800 million. Energy regulators forced the sale.

Bidding Groups for Madrileña Red de Gas

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UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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