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Friday SWFI News Roundup, March 13, 2015

Azerbaijan Sovereign Wealth Fund Looks to Open London Office

The State Oil Fund of Azerbaijan (SOFAZ) plans to open an overseas office in London. This is a sign for more allocation to overseas markets.

GSO Capital Begins to Market Debut Energy Credit Fund

GSO Capital Partners, the credit unit of the Blackstone Group, is attempting to raise US$ 2.5 billion to US$ 3 billion for its debut energy credit fund. GSO Capital expects its first close at the end of April.

QSE Contemplates IPO

The Qatar Stock Exchange (QSE) is contemplating selling shares in an initial public offering (IPO). The QSE had discussions with its sole owner, Qatar Holding LLC, a sovereign wealth enterprise of the Qatar Investment Authority (QIA).

Louisiana State Employees’ Retirement System Commits to Coller International Partners VII

Louisiana State Employees’ Retirement System (LASERS) plunked down US$ 75 million toward Coller International Partners VII, a secondaries fund being managed by London-based Coller Capital. In June 2012, the pension fund committed US$ 100 million to Coller International Partners VI.

OMERS Keen on Hydro One Investment

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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