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CIC and Russian Bank to Buy Gold Company Shares

Polyus Gold International Limited, the biggest gold producer in Russia, announced that its indirect, wholly-owned subsidiary, Jenington International Inc., has entered into separate agreements to sell in privately negotiated transactions. Polyus Gold International Limited is quoted to have the third largest gold reserves in the world.

151,607,496 ordinary shares, which represent 5% less one share of the company’s issued share capital to Chengdong Investment Corporation. Chengdong Investment Corporation is a wholly-owned subsidiary of CIC International Co., Ltd.

50,198,271 shares and 25,153,897 in level 1 global depository receipts representing 2.5% of the company’s issued share capital will go to JSC VTB Bank.

The purchase price for the shares is equal to US$ 2.80 per share and the aggregate gross proceeds from the two transactions will equal US$ 635.5 million. The proceeds will be used to repay outstanding loans and finance development projects.

Read more: Press Release

iZettle Raises US$ 47 Million in Series E, Prepares for 2018 Listing

Card transaction platform iZettle AB has raised another US$ 47 million in Series E funding, this time with new backing from Sweden’s AP4 and early-stage venture capital firm Dawn Capital. Previous investors in the Stockholm-based payments business include American Express, MasterCard, Intel, and Spain’s Santander Group. With US$ 235 million in equity to date, iZettle is quickly approaching an estimated valuation of US$ 1 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Concerns Raised at Potential BlackRock Takeover of CalPERS’ Private Equity

The California Public Employees’ Retirement System (CalPERS) has been analyzing options on what to do with its massive US$ 26 billion private equity program. The pension system has embraced the mantra of reducing cost, reducing complexity and reducing risk, the hallmark of its program called “INVO 2020”. CalPERS also wants less, but more strategic relationships with external money managers. At one point, CalPERS was contemplating increasing its direct investment staff to model Canadian pension funds such as Canada Pension Plan Investment Board (CPPIB), OMERS and the Ontario Teachers’ Pension plan. The pendulum has begun to swing the other way as reported earlier by SWFI research staff.

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CDP Signs €1.7 Billion Infrastructure Loan Agreement with Atlantia Group

Cassa depositi e prestiti S.p.A. (CDP) and Atlantia Group’s Autostrade per l’Italia (ASPI) have signed a €1.7 billion loan contract dedicated to upgrading motorways in Italy under concession to ASPI. €1.1 billion will come in the form of a term loan with a 10-year tenure, with the remaining €600 million wrapped up in a five-year revolving loan.

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