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Friday SWFI News Roundup, February 20, 2015

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NAMA Awards Cushman & Wakefield Corporate Finance NPL Sales Mandate

Ireland’s National Asset Management Agency (NAMA) has awarded Cushman & Wakefield Corporate Finance the mandate to sell a portfolio of non-performing loans with a face value of €8.4 billion. The portfolio of non-performing loans consists of approximately 500 borrowers in both residential and commercial properties. On behalf of NAMA, Capital Asset Services and Allied Irish Bank are managing the loans.

Actis and Mainstream Renewable Power Form Renewable Energy Platform for Africa

Mainstream Renewable Power and private equity firm Actis have agreed to build a US$ 1.9 billion energy platform to back wind and solar power projects in sub-Saharan Africa. The platform is called Lekela Power which is being funded through a combination of debt and equity. Actis will own 60% of Lekela Power. The two parties have worked together in Chile and South Africa. Actis has created similar platforms in India and Latin America.

Central Bank of Nigeria Ditches Weekly FX Auctions

Central Bank of Nigeria is ditching its weekly foreign exchange auctions. Essentially, this is an effective devaluation of Nigeria’s currency, the naira. The central bank commented that the US dollar sales at auctions were sucking away foreign exchange reserves. As of February 16, 2015, Nigeria’s foreign reserves totaled US$ 32.7 billion.

Samruk-Kazyna Looks to Borrow US$ 2 to US$ 2.5 Billion in 2015

Samruk-Kazyna, one of Kazakhstan’s sovereign wealth funds, is thinking about borrowing US$ 2 billion to US$ 2.5 billion. In 2014, Samruk-Kazyna formed a three year transformation plans for all of its portfolio companies.

ADIA Buys Future Madison Square Park Edition Hotel from Marriott International

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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