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Friday SWFI News Roundup, June 13, 2014

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Aabar Sells Shares in Arabtec Holding

Abu Dhabi-based Aabar Investments PJSC has chopped its interest in Arabtec Holding Co., a Dubai builder, down to 18.85% from 21.57%. This is being confirmed from the Dubai Financial Market.

US$ 500 Million Committed to Waterton Residential Property Venture XII from CalSTRS

The California State Teachers’ Retirement System (CalSTRS) has recently committed US$ 500 million to Waterton Residential Property Venture XII. This property value-added fund will acquire underperforming multi-family properties in the United States. The management team at Waterton Associates specializes in renovating and helps in the repositioning of apartments.

Kuwait Investment Authority Goes to Greece and Hungary

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Saudi Arabia Sends Second Installment of Aid to Pakistan

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On December 14, 2018, Pakistan received its second installment of the US$ 3 billion in aid promised from Saudi Arabia on October 23, 2018. The US$ 1 billion given on December 14th boosted the foreign reserves of the State Bank of Pakistan, which went from US$ 7.2 billion to US$ 8.2 billion. The first installment was given on November 23, 2018. The last installment is expected to occur in January 2019.

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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