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Crestview Partners Raises Third Fund

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New York

New York City-based Crestview Partners, LLC has raised more than US$ 3.25 billion for its third fund, Crestview Partners III. The private equity firm and its employees kicked in US$ 250 million into the fund. Crestview’s last fund raised around US$ 2.4 billion in 2009.

The fund is seeking to invest in companies with a contrarian, value-orientation. Crestview Partners seeks to purchase companies between US$ 100 million to US$ 400 million. The firm embraces complex deals; many of its investments are not plain vanilla
leveraged buyouts.

Wheelhouse

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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