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CIC Picks New Chief for Hedge Investments

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According to Wall Street Journal, “China’s sovereign-wealth fund has brought in a China-born portfolio manager with U.S. experience to run its hedge-fund investments, according ++to people familiar with the situation, marking its highest-profile hire so far.

Bill Lu, formerly a portfolio manager at U.S. hedge fund Tudor Investment Corp., has become a managing director at China Investment Corp. with responsibility for investments in hedge funds and hedge-fund-like investments in public-market securities, according to these people.

Mr. Lu, the third official to oversee CIC’s hedge-fund program since 2007, takes over the hedge-fund portfolio from Felix Chee, a Singapore native and former chief executive of the University of Toronto’s endowment fund. Mr. Chee is continuing to work at CIC as a special adviser to CIC’s chief investment officer, Gao Xiqing, according to a person familiar with the situation. It is unclear what prompted the change in Mr. Chee’s responsibilities. CIC’s recruitment efforts have so far focused mostly on taking staff from other Chinese government agencies to fill senior roles, hiring junior staff from investment banks to fill junior spots, and borrowing staff to fill in other gaps. Because it is state-owned, CIC isn’t able to offer salaries or bonus structures comparable to international financial firms.”

read more: Wall Street Journal

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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