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Friday SWFI News Roundup, August 1, 2014

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NBIM Buys Le Madeleine from BlackRock Fund

Norges Bank Investment Management (NBIM) has bought a 100% interest in Le Madeleine. Le Madeleine is a 31,500 square meter mixed-use property on Boulevard de la Madeleine in Paris. The deal was signed on May 22, 2014 and closed on July 31, 2014. NBIM paid €425.6 million euro, with zero debt financing. BlackRock Europe Property Fund III, a closed-end fund, sold the property. AXA Real Estate will be the manager of the property.

Going East: SOFAZ Seeks Diversification

The State Oil Fund of Azerbaijan (SOFAZ) has requested approval from the People’s Bank of China to have access to indirect renminbi investments in mainland China. SOFAZ has taken steps to diversify its portfolio, including investing in overseas real estate, allocating to gold and investing in China. Gradually, SOFAZ wants to move capital toward Chinese government debt securities.

Temasek-Backed Firms Consider U.S. IPOs

Reebonz Pte, an online retailer of affordable luxury goods, is seeking to go public and list on NASDAQ. Razer Inc, a company that develops computer hardware for video game fans, is planning to go public and is working with Credit Suisse. Both firms are backed by Singapore’s Temasek Holdings.

Societe Generale SA Postpones Islamic Bond Offering

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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.

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