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Friday SWFI News Roundup, July 3, 2015

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NEST Has a New CEO

The UK’s National Employment Savings Trust (NEST) has named Helen Dean as CEO. She is replacing Tim Jones who left in February 2015. Currently, Dean serves as NEST’s executive director for product and marketing. She joined NEST from the Department for Work and Pensions (DWP) in 2014

Ivanhoé Cambridge Allocates More Capital to Chinese Logistics

Ivanhoé Cambridge, the real estate unit of Caisse de dépôt et placement du Québec (CDPQ) and CBRE Global Investment Partners have committed capital to Logos Property Group’s China Logistics Club, a real estate company active in Australia and China. Logos Property plans to invest up to US$ 400 million toward development real estate projects and existing logistic properties in urban Chinese cities such as Shanghai and Guangzhou.

CalPERS’ Massive Real Estate Realignment

The California Public Employees’ Retirement System (CalPERS) is following its mission to limit manager relationships in all asset classes, especially expensive asset classes like private equity and real estate. CalPERS hired Park Hill Group, a global alternative asset placement agent owned by The Blackstone Group. Park Hill Group will help CalPERS sell up to US$ 3 billion of its massive US$ 25.5 billion real estate portfolio on the secondary market. These identified assets for sale apply only to non-housing funds in CalPERS’ legacy portfolio. CalPERS had 79 funds and 58 real estate managers in a December 31, 2014 performance report.

CITIC to Invest over $100 Billion in Silk Road Initiative

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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