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CIC’s Xie Says China’s Private Equity to Take ‘Different Path’

Bloomberg reports, “China’s private equity industry is “unique” because it’s dominated by the state and will follow a “different path” from overseas peers, said Xie Ping, a vice president at the nation’s $300 billion sovereign wealth fund. Entities that manage private equity in China and those that invest in such funds are primarily state-owned institutions, China Investment Corp.’s Xie said today at an event held by China Development Bank Corp. in Beijing.

The briefing was organized by the nation’s largest policy bank for its introduction of a fund that will invest in private equity. By having government backing, China’s private equity funds can increase the value of Chinese companies in which they invest, Xie said. This is an aspect of the Chinese market that is different from other countries, he said.”

Read more: Bloomberg

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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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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