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Friday SWFI News Roundup, June 5, 2015

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Investor Group Bids for BrisConnections

Melbourne-based toll-road operator Transurban Group, AustralianSuper and the Abu Dhabi Investment Authority (ADIA) are looking at BrisConnections toll road group. The investor group is reportedly bidding A$ 1.3 billion for BrisConnections, which operates Brisbane’s toll road AirportlinkM7. Macquarie Capital and Fort Street will be hosting roadshows for BrisConnections. Potential competitive bidders for this asset include: QIC, IFM Investors, Hastings Funds Management and AMP Capital.

KIA Bids for Angel Trains

The Kuwait Investment Authority (KIA), through its unit Wren House Infrastructure Management, is bidding for U.K. train leasing company Angel Trains. Angel Trains is one of three U.K. train lessors – others are Porterbrook Leasing and Eversholt Rail. London-based Arcus Infrastructure Partners is the majority owner of Angel Trains . Other potential bidders are Abu Dhabi Investment Authority (ADIA) and AMP Capital (already a 25% owner in Angel Trains).

Reserve Bank of New Zealand Looks to Sell NZClear Security Settlement and Depository Business

The Reserve Bank of New Zealand put out a notice for interest parties in its NZClear security settlement and depository business. The central bank has owned and operated NZClear for 25 years.

“The NZClear system, the technology behind a key piece of New Zealand’s financial infrastructure, requires significant investment or replacement. A strategic review in 2014 of the Reserve Bank’s payment and settlement systems concluded that securities settlement is not the Bank’s core business. The Reserve Bank is keen to see if another specialist operator can provide securities settlement and depository services that meet both the Bank’s requirements and those that the market has become accustomed to,” said Reserve Bank Deputy Governor and Head of Operations Geoff Bascand in a news release.

Bpifrance Intrigued by Glass Bottle Maker Verallia

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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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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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