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Friday SWFI News Roundup, April 1, 2016

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Morningstar Acquires RightPond

Research provider Morningstar, Inc. has acquired Westport-based RightPond, a provider of business intelligence data and analytics on defined contribution and defined benefit plans for financial services firms, from Rocaton Investment Advisors, LLC. According to the press release, “Morningstar will continue to offer RightPond as a standalone capability until it is integrated into Morningstar Data and Morningstar DirectSM, the company’s cloud-based investment analysis platform for institutions and advisors. Eventually, the company will rebrand RightPond under the Morningstar name.”

Bats Global Markets Buys ETF.com

Exchange operator Bats Global Markets signed a deal to acquire ETF.com, a provider of exchange-traded fund (ETF) data, news and analysis. The transaction is scheduled to close April 1, 2016, subject to customary closing conditions, and ETF.com will become an independent media subsidiary of Bats. David Lichtblau, CEO of ETF.com, will remain in that role and report directly to Bats Executive Vice President and Head of U.S. Markets Bryan Harkins.

Ivanhoé Cambridge Kicks in Money for Quebec City Parking Facility Redevelopment

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Shaktikanta Das Named as New CB Governor for India

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The Indian government named Shaktikanta Das as the new Governor of the Reserve Bank of India. He will be the 25th governor to lead the central bank. Das is India’s former economic affairs secretary who stepped down in May 2017.

Das replaces Urjit Patel, who stepped down as central bank governor for “personal reasons.”

Urjit Patel had been arguing with India’s finance ministry on matters such as easing lending policies versus what the appropriate size of foreign reserves should be.

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UBS and APG Form Japanese Residential Property Venture

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Long horizon institutional investors are keen on taking advantage of appealing underlying fundamentals in select Japanese residential submarkets that have experienced population growth versus rural areas. The housing market in Tokyo has decoupled from the rest of Japan due to attractive demographics and low interest rates. Real estate valuations for Japanese housing in Tokyo is still at a distance relative to the very-much inflated market of the late 1980s. UBS Asset Management Real Estate & Private Markets business and APG Asset Management, which oversees the assets of Stichting Pensioenfonds ABP, formed a new property joint venture to invest in residential properties in Japan. UBS Asset Management will manage the fund and partnership, while APG will play a strategic role. APG will contribute US$ 175 million into the venture.

This platform will pursue a build-to-core investment strategy with some allocation to the reconfiguration of income-producing operating assets in cities such as Tokyo and Osaka.

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GIC Sells 2 Chifley Square to Charter Hall

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Singapore’s GIC Private Limited sold a 100% ownership stake in a large building in Sydney, 2 Chifley Square, for A$ 98.5 million to the Charter Hall Prime Office Fund, a wholesale real estate fund. Charter Hall Group owned the building next to Chifley, the Gresham building at 167 Macquarie Street.

Advisors for the transaction are Colliers International and KPMG Real Estate Advisory.

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