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Friday SWFI News Roundup, January 2, 2015

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WCAS Closes on 12th Flagship Fund

New York-based Welsh, Carson, Anderson & Stowe (WCAS) raised US$ 1.7 billion on December 29th for its first close on Welsh, Carson, Anderson & Stowe XII. This is the private equity firm’s 12th flagship fund. The fund plans for additional closes in 2015. WCAS Co-Founder Welsh worked at Citicorp for 8 years in the bank’s venture capital group before forming the private equity firm in 1979.

Masdar Begins PV Projects in the Pacific

Masdar, also known as the Abu Dhabi Future Energy Company and owned by Mubadala Development Co., initiated its US$ 50 million worth of photovoltaic (PV) projects in Kiribati, Fiji, Tuvalu and Vanuatu. These four solar PV plants plan to deliver 1.8 MW of renewable energy to the island countries. The PV developments are being financed from the Abu Dhabi Fund for Development’s US$ 50 million UAE-Pacific Partnership Fund. In November 2013, Masdar completed the La’a Lahi “Big Sun” solar plant in Tonga.

Temasek Weighs Options on Standard Chartered

Temasek Holdings controls an 18% equity interest in Standard Chartered. The bank has struggled in the markets. Industrial and Commercial Bank of China (ICBC) and Bank of China have approached Temasek about acquiring the sovereign wealth fund’s share in the bank. Another option is Standard Chartered merging with Singapore-based DBS Bank Ltd.

CalPERS Hires Two Lobbyists in DC

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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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