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Friday SWFI News Roundup, January 23, 2015

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Korea’s NPS Selects Singapore for Third Overseas Office

Korea’s National Pension Service (NPS) is opening its third overseas office. The NPS has overseas offices in New York and London. The third office overseas will be in Singapore and commence operations in 2015.

Punj Lloyd Sells Global Health Stake to Temasek Holdings

Indian engineering company Punj Lloyd has sold its entire 17.74% stake in New Delhi-based Global Health Pvt. Ltd for around Rs 700 crore (US$ 113.54 million) to Dunearn Investments (Mauritius) Pte Limited, a sovereign wealth enterprise of Singapore’s Temasek Holdings. Global Health Pvt. Ltd owns and manages Medanta hospital in Gurgaon.

Big Raise for Bitcoin-Related Company

Coinbase, a bitcoin startup, has raised US$ 75 million in Series C funding. The lead investor was DFJ Growth. Other investors include: USAA, NTT Docomo (Japan), Valar Capital, BBVA, The New York Stock Exchange, Vikram Pandit (former CEO of Citigroup), Tom Glocer (former CEO of Thomson Reuters) and Carlos Rodriguez Pastor. Returning investors in the round are Reddit Capital, Union Square Ventures and Andreesen Horowitz.

Ameriprise Financial Rebrands, Combines Columbia Management and Threadneedle Investments

Columbia Management, a subsidiary of Ameriprise Financial, Inc., is rebranding its business as Columbia Threadneedle Investments in the first half of 2015. Threadneedle Investments has a strong presence in the United Kingdom, being one of the largest retail asset managers in the country. Both Columbia and Threadneedle are owned by Ameriprise Financial. Combined, the new group will have about US$ 505 billion in assets under management.

Landmark Partners Raises US$ 3.25 Billion for Landmark Equity Partners XV

Landmark Partners closed Landmark Equity Partners XV with US$ 3.25 billion, US$ 1.8 billion has already been invested. The last fund, Landmark Equity Partners XIV, closed at US$ 2 billion in 2010. The secondaries fund is targeting private equity fund interests and stakes in private companies. Some pension investors are St. Louis Public School Retirement System, Louisiana Firefighters’ Retirement System, Kentucky Teachers’ Retirement System and Connecticut Retirement Plans & Trust Funds. Kirkland & Ellis advised Landmark Partners on the latest fundraise.

Temasek Led Series D Round in Pluribus Networks

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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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