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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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Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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