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Friday SWFI News Roundup, July 18, 2014

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Aquila Capital and APG Create Hydropower Investment JV

APG Asset Management and Hamburg-based Aquila Capital have created a partnership to invest €500 million toward European hydropower plants. The Dutch pension fund asset manager will contribute €250 million to the joint venture to make investments in operational plants and greenfield projects. Aquila Partners will provide the operational expertise of the hydropower infrastructure assets.

APG’s managing director of global real estate and infrastructure Patrick Kanters said: “APG puts a lot of effort in finding infrastructure investments with high-sustainability characteristics. Hydropower is the most efficient of all main energy sources and ticks the right boxes for us in terms of the risk-return profile and the high cash flow visibility, as well as its strong sustainability profile.”

Mubadala Petroleum Inks Deal with Somalia

Mubadala Petroleum, a sovereign wealth enterprise of Mubadala Development Co., has signed a cooperation agreement with the Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia. The end goal is to augment development in Somali petroleum.

Musabbeh Al Kaabi, Chief Growth Officer, Mubadala Petroleum, said in a statement: “This strategic agreement will draw upon the great experience of Abu Dhabi in developing a world-class environment for investment in the petroleum sector and enable Mubadala Petroleum to begin a long term relationship with the Ministry to support its upstream sector.”

Kenya’s National Social Security Fund to Receive Higher Contributions

Kenya’s US$ 1.35 billion National Social Security Fund is expecting higher inflows of money. Annual contributions would rise up to 12% of gross monthly earnings. The paid amount is split between employer and employee. In addition, the social security fund is looking to invest in more alternative asset classes like private equity.

ADIA Continues to Seek Australian Hotels

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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