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Friday SWFI News Roundup, January 16, 2015

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Mumtalakat Holdings Signs $500 Million Loan

Mahmood Hashim Al Kooheji, CEO of Bahrain’s Mumtalakat Holdings, was present at the signing of a US$ 500 million five-year loan. This occurred on January 14th, 2015. The loan has been structured as a 5-year revolving credit facility. The facility will be used to refinance existing debt. Some of the financial institutions included in the loan deal are: BNP Paribas, Deutsche Bank, Standard Chartered and Bank of Tokyo Mitsubishi UFJ Ltd.

NO CAP: SNB Shocker

Swiss National Bank (SNB) has ditched its currency cap against the euro. The SNB also slashed interest rates to -0.75%. On Thursday, the Swiss franc appreciated, while the Swiss stock market fell. Social media called the move, Francogeddon. Thomas Jordan, chairman of SNB, mentioned that the cap was removed because it was unsustainable.

Nasdaq Buys Smart Beta and Index Provider

Nasdaq OMX Group Inc. has agreed to purchase Dorsey, Wright & Associates LLC for US$ 225 million. Dorsey, Wright & Associates LLC is an index provider and analytics company. Nasdaq is trying to expand and increase exposure in the world of exchange-traded funds (ETF) and smart beta. Nasdaq is funding the deal with a mixture of cash and debt.

ADIA and Runwal Group in Discussions

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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