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DATA: Sovereign Funds Slowed UK Direct Investments Before Brexit Vote

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There was a significant reduction in direct investments in England by sovereign wealth funds prior to the Brexit vote.

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Post-Brexit, the United Kingdom experienced a bump in sizable deals in September 2016 by sovereign funds and foreign pensions. One such deal was Singapore’s GIC Private Limited partnering with student accommodation company GSA to buy a large £700 million portfolio of student beds from Oaktree Capital Management. Is it conclusive that sovereign investors minimized direct investment activity due to an upcoming Brexit vote event? There are other factors at play, such as Middle East sovereign funds, in the aggregate, slowing down on direct investments, while shoring up cash due to the oil glut. Gulf countries are under pressure to keep their fiscal houses in check as oil income has plummeted over the past year. In fact, the Abu Dhabi Investment Authority (ADIA) had shuttered its London office.

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Sovereign Wealth Fund Transactions: The Numbers

According to data from SWFI’s Sovereign Wealth Fund Transaction Database, wealth funds directly invested US$ 7.47 billion into the United Kingdom in the first quarter of 2016, versus US$ 3.24 billion in the second quarter of 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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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