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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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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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