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Friday SWFI News Roundup, December 2, 2016

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In case you missed – Follow the Money – Episode #25

Jo Taylor Promoted to Senior Managing Director, International

Bjarne Graven Larsen, Chief Investment Officer, Ontario Teachers’ Pension Plan (OTPP), announced that Jo Taylor has been promoted into the new role of Senior Managing Director, International, effective January 1, 2017. Taylor joined OTPP in 2012 and is Regional Managing Director, Europe, Middle East and Africa and is located in the London office.

OCERS CIO to Resign in January 2017

Girard Miller, the Chief Investment Officer of the Orange County Employees Retirement System (OCERS), is resigning. This is effective, January 5, 2017. The pension is putting on a search for a CIO in January.

Brexit Minister Hints at Paying for Access, Sterling Rockets

On December 1, 2016, the British pound sterling surged to a 3-month high against the euro after David Davis, the Brexit minister, said the country would consider making payments to the European Union (EU) budget in exchange for access to EU markets.

Agustín Carstens Plans to Exit Central Bank for BIS Role

Agustín Carstens, the Governor of the Central Bank of Mexico, is leaving his post in July 2017 to lead the Basel, Switzerland-based Bank for International Settlements (BIS) in October 2017. This is a 5-year term at BIS as General Manager. He will succeed Jaime Caruana at BIS. The 86-year-old BIS is known as the central bank of central banks.

Agustín Carstens ranked #11 out of 100 on the Public Investor 100 for 2016.

Private Credit Trend: Allianz Global Investors Buys Sound Harbor Partners

Allianz Global Investors is purchasing New York-based Sound Harbor Partners, a private credit manager led by Michael Zupon and Dean Criares. Zupon is a former Partner at The Carlyle Group where he founded and led the leveraged finance business. Criares is a former Partner of The Blackstone Group where he founded and led the loan management business. The transaction is expected to close in the first quarter of 2017. Berkshire Capital Securities LLC served as M&A advisor, Kaye Scholer LLP served as legal advisor to Sound Harbor and Sullivan & Cromwell served as legal advisor to Allianz Global Investors.

Invitation Homes Secretly Files IPO

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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China’s Central Bank Creates Macro-Prudential Management Bureau

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The People’s Bank of China (PBOC) created a new department to oversee and attempt to eliminate financial risks to the system. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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