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Finmeccanica and Libyan Investment Authority sign a Memorandum of Understanding for a strategic cooperation in Africa and the Middle East

Press release states, “Finmeccanica, the Italian leading aerospace, defense and security company and the Libyan Investment Authority (“LIA”), the Libyan sovereign wealth fund, and Libya Africa Investment Portfolio(“LAP”), an Investment Fund owned by LIA, share the view that Libya and the Middle East and Africa countries will offer, in the near future, significant investment opportunities in a broad range of industrial sectors in which Finmeccanica is present at a global level and they intend to leverage on their joint capabilities to access new markets working with local customers and partners.

In this context, Finmeccanica, LIA and LAP have today signed a Memorandum of Understanding (MoU) for the development of a strategic cooperation in Libya and other countries in the Middle East and Africa regions. Under this MoU investment opportunities will be pursued in the aerospace, electronics, transportation and energy sectors for civil applications.

The MoU envisages the creation within a year of a Joint Venture Company, 50% held by each of Finmeccanica and LAP, and governed by Shareholders Agreements to be entered into. The Joint Venture Company will be the main vehicle of the joint business initiatives and will be able to invest in the specific commercial and industrial initiatives by setting up dedicated companies in the relevant countries. Finmeccanica can involve the Joint Venture Company as preferred business partner in initiatives in which Finmeccanica will take a direct leading role.

read more: Press Release

Sovereign Funds Commit to Integrating Climate-Related Risks at One Planet Summit

Representatives from a number of sovereign wealth funds who collectively govern over US$ 2 trillion in assets came together at the One Planet Summit at the Élysée Palace in Paris in order to discuss what public asset owners can do to incorporate climate change-related risks and opportunities into investment considerations.

The newly formed committee – called the One Planet Sovereign Wealth Fund Working Group – includes as its founding members the Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Qatar Investment Authority (QIA), Norges Bank Investment Management (manager of Norway’s Government Pension Fund Global), Saudi Arabia’s Public Investment Fund (PIF), and the New Zealand Superannuation Fund.

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bcIMC-Backed Hayfin Capital to Buy CLO Specialist Kingsland Capital

London-based Hayfin Capital Management agreed to buyout New York-based Kingsland Capital Management, LLC, a U.S. collateralized loan obligations (CLO) and leverage credit manager. The transaction permits Hayfin Capital an opening to the U.S. CLO market. Hayfin Capital does not currently manage any live CLOs.

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CPPIB Participates in Peruvian PE Restructuring

The Canada Pension Plan Investment Board (CPPIB) is part of an investor group that is helping restructure a number of vehicles that are managed by Peru-based Enfoca, a private equity firm.

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