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CIC Aims to Partake in Ground-Breaking Alaskan Natural Gas Deal

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The State of Alaska oversees the Alaska Permanent Fund, which has historically benefited from oil, but in recent years the state has competed with lower oil output and lower-cost shale developments. Across the sea, the Chinese government is trying to pursue cleaner forms of energy such as natural gas over coal. If this holds true, China will have to import more natural gas.

China’s current energy composition is mostly coal and oil. Environmental concerns have prompted a government mandated move to natural gas and other clean sources of energy. In fact, Chinese President Xi Jinping’s address to the 19th Party Congress brought up “environment” at least 88 times.

Alaskan Governor Bill Walker has made significant strides into China in a bid to help breathe life into the state’s aging energy business. China Petrochemical Corporation (Sinopec) and the China Investment Corporation (CIC) have agreed to help develop Alaska’s gas sector. This deal was announced as part of U.S. President Donald J. Trump’s Asia tour, which stopped in Beijing. President Trump met with Chinese President Xi Jinping to discuss a host of issues including the trade imbalance between China and the United States.

Image Credit: State of Alaska

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SWFI First Read, June 21, 2018

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PSP Investments Nears Deal on Azelis

PSP Investments and EQT Partners (through fund EQT VIII) are in exclusive talks to acquire Belgium-based Azelis S.A. from funds managed by Apax Partners. Formed in 2001, Azelis is a specialty chemicals and food ingredients distributor. The transaction is subject to regulatory approvals.

Oxford Properties Wins Rights on Barangaroo Office Development

Melbourne-based Grocon Pty Ltd selected Oxford Properties, the real estate unit of OMERS, as a preferred partner for it’s a A$ 2 billion, 5.2-hectare Barangaroo Central project development. This is an office tower development. Oxford Properties essentially won the rights toward the project (rumored at a price of A$ 100 million), freeing the developer from a high-cost finance deal with Maxcap, a lender.

Investment Management Corporation of Ontario Selects Jean Michel as CIO

The Investment Management Corporation of Ontario named Jean Michel as chief investment officer. This role is effective July 3, 2018. Michel was executive vice president, advisory services to depositors and strategic analysis, at Caisse de Depot et Placement du Quebec (CDPQ).

Wil Warren Named President of Lexington Partners

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Large Public Asset Owners Commit to Goodman Brazil Logistics Partnership

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Canada Pension Plan Investment Board (CPPIB) unveiled plans to commit 500 million BRL (C$ 175 million) in equity for a 20% interest in the newly established Goodman Brazil Logistics Partnership to invest in prime logistics and industrial assets in the key gateway cities of São Paulo and Rio de Janeiro. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Supports Two European Aquaculture Transactions

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Mubadala Investment Company is keen on growing exposure to agribusinesses whether in farming or aquaculture. With money from Mubadala and AMERRA Capital Management LLC, Andromeda Group acquired Nireus SA (at 74.34% stake) and Selonda SA at (79.62% stake), two European aquaculture companies that focus on sea bream and sea bass. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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