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Friday SWFI News Roundup, August 5, 2016

CIC Eyes Stake in Melbourne CBD Property from Mirvac

The China Investment Corporation (CIC) is looking at acquiring a A$ 500 million stake in a Melbourne central business district property at 477 Collins Street. Mirvac is considering selling a 50% stake in the building. Mirvac must first introduce the deal to Aviva Investors who has pre-emptive rights regarding the building.

GIC Buys Shares of China Telecom

Singapore’s GIC Private Limited acquired 3.632 million shares in China Telecom Corporation Limited at an average price HK$ 3.91 per share. GIC now has a 5.01% stake in the company after the transaction.

CPPIB Invests in Advanced Disposal Services

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Tony Tan Named Director and Special Advisor of GIC

Singapore’s GIC Private Limited named Dr Tony Tan Keng Yam (Tony Tan) as director and special advisor to the wealth fund, effective January 1, 2018. Tan was the former Deputy Chairman and Executive Director of GIC from September 2005 to June 2011. In 2011, He went on to serve as the 7th President of Singapore until August 31, 2017.

In a press release, Lim Chow Kiat, Chief Executive Officer of GIC, said, “As Special Advisor, Dr Tan will provide much value in broadening and strengthening GIC’s network of senior statesmen and leaders of corporations and institutions who may be constructive in advancing the business and interests of GIC. We will also benefit from his extensive knowledge and perspectives on global matters.”

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Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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