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Friday SWFI News Roundup, April 3, 2015

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ADIA Brings on Former QIC Investment Compliance Head

The Abu Dhabi Investment Authority (ADIA) has hired Sam O’Sullivan as a manager in the investment services department. Previously, O’Sullivan was head of investment compliance and risk management at the Queensland Investment Corporation (QIC). Matt Winters was appointed interim head of investment compliance and risk management at QIC. O’Sullivan will start at ADIA on April 5. 2015.

Temasek Looks to Invest in UK Peer-to-Peer Lending

Singapore’s Temasek Holdings is in negotiations for a stake in a U.K peer-to-peer lending platform called Funding Circle. Temasek is looking to possibly invest around £30 million. Other investors expecting to participate in investing in Fund Circle include Edinburgh-based Baillie Gifford and BlackRock. The total raise could be £50 million.

Kuwait MP Claims SWF Losses in European Developmental Real Estate

According to the Kuwait Times, Kuwait MP Abdullah Al-Turaiji said on April 2, that the Kuwait Investment Authority lost about £108 million in European real estate projects.

Robbins Geller Rudman & Dowd File Class Action Suit Against Boulder Brands

Robbins Geller Rudman & Dowd LLP on April 1, 2015 announced a class action on behalf of purchasers of Paramus-based Boulder Brands, Inc. common stock during the period between December 23, 2013 and October 22, 2014. Boulder Brands makes products like margarine substitutes. The complaint alleges employees of Boulder Brands failing to disclose that the company was having issues with inventory management and the margin integration.

RDIF Lead Investor in Russian Retail Chain Lenta

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SWFI First Read, September 21, 2018

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U.S. Public Becomes More Aware that Gmail Scans Emails

Alphabet is a major stock holding for sovereign wealth funds and large pensions. Search giant Google is under fire for allowing third-party partners and companies, like Return Path Inc and other advertisers, to share data from Gmail accounts. Many experts and tech observers already knew this, but more people in the public are becoming aware of Google’s practices when it comes to privacy. Google disclosed in a letter to U.S. lawmakers this finding. The Wall Street Journal reported that in some instances, app companies were able to read people’s emails in order to improve their algorithms. In 2017, Google said they would stop scanning all of one’s Gmail messages for the goal of personalized ads.

GPIF Infrastructure Exposure Almost Reached 200 Billion Yen in March 2018

Japan Government Pension Investment Fund’s (GPIF) exposure to infrastructure real estate was 196.8 billion JPY at the end of March 2018. At that period, 57% of the exposure was to the UK, 15% was to Australia, 15% to Sweden, 10% to Spain and 3% to Finland. 21% of GPIF’s infrastructure portfolio was linked to airports versus 27% to ports.

AIMCo-backed sPower Closes $498.7 Million Bond Deal

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Iceland Contemplates a Sovereign Wealth Fund

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The Government of Iceland is looking to possibly form a sovereign wealth fund to stabilize the country from unforeseen shocks to the national economy. The Iceland government released a statement saying, “The state’s contributions to the Fund will be equivalent to new revenues from publicly owned power production companies which are expected to accrue in the coming years.”

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CBRE Global Wins First GPIF Global Real Estate Mandate

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Japan Government Pension Investment Fund (GPIF) awarded its first global real estate mandate by hiring CBRE Global Investment Partners Limited. This is a global core real estate fund-of-funds separate account. Overseeing this mandate as a gatekeeper is Asset Management One Co., Ltd., which is a unit of Mizuho Financial Group. This RFP was launched in April 2017.

CBRE Global Investment Partners is the multi-manager arm of CBRE Global Investors.

In addition, on August 8, 2018, GPIF hired two custodians for short-term investments. These custodians are Trust & Custody Services Bank, Ltd and The Master Trust Bank of Japan, Ltd.

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