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Friday SWFI News Roundup, March 20, 2015

Libya Sovereign Wealth Fund Convenes Board Meeting in Malta

The Board of Directors of the Libyan Investment Authority (LIA) had its first 2015 meeting in Malta this week. The meeting was held to discuss LIA’s global investments, as well as pending litigation against Goldman Sachs and other banks regarding derivative transactions. The LIA opened up a Malta office due to the current conflict and violence occurring in Libya.

Singaporean Sovereign Wealth Fund Contemplates Investment in Capillary Technologies

Singapore’s Temasek Holdings is looking to invest in an US$ 80 million round in Bangalore-based Capillary Technologies Pvt Ltd, a cloud-based CRM solutions provider. In July 2014, the company raised US$ 14 million in Series B led by existing investor Sequoia Capital and Norwest Venture Partners. Capillary Technologies was founded by Aneesh Reddy, Krishna Mehra and Ajay Modani.

RBC Investor & Treasury Hires JP Morgan’s EMEA Investor Services Executive

Francis Jackson is joining RBC Investor & Treasury Services, replacing Antony (Tony) Jackson, who went to RBC Wealth Management. Jackson will be in a senior sales role. He was head of Europe, the Middle East and Africa sales, investor services, at J.P. Morgan Chase.

Mubadala Petroleum to Explore Moroccan Offshore

Mubadala Petroleum, a sovereign wealth enterprise (SWE) of Mubadala Development Co., has reached a deal with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to perform a punctilious geological survey of the Mediterranee Ouest offshore area.

Commenting on the agreement from the press release, Musabbeh Al Kaabi, Chief Executive Officer, Mubadala Petroleum, said, “We are pleased to be able to build on the strong relationship between the U.A.E. and Morocco in this tangible way. We very much hope this agreement will pave the way for further co-operation with ONHYM both on the more detailed exploration of the Mediterranee Ouest area and in other projects.”

Ghana Looks to Spend SWF Money to Cover Budget Shortfall

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Tony Tan Named Director and Special Advisor of GIC

Singapore’s GIC Private Limited named Dr Tony Tan Keng Yam (Tony Tan) as director and special advisor to the wealth fund, effective January 1, 2018. Tan was the former Deputy Chairman and Executive Director of GIC from September 2005 to June 2011. In 2011, He went on to serve as the 7th President of Singapore until August 31, 2017.

In a press release, Lim Chow Kiat, Chief Executive Officer of GIC, said, “As Special Advisor, Dr Tan will provide much value in broadening and strengthening GIC’s network of senior statesmen and leaders of corporations and institutions who may be constructive in advancing the business and interests of GIC. We will also benefit from his extensive knowledge and perspectives on global matters.”

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Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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