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Friday SWFI News Roundup, March 6, 2015

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Future Fund Invests in Couture Website Moda Operandi

Australia’s Future Fund was a late-stage institutional investor in New York City-based Moda Operandi in 2014. Moda Operandi raised a round of Series E financing for US$ 60 million. Other investors besides the Future Fund includes Fidelity Investments. New Enterprise Associates (NEA) is an investor in Moda Operandi and the Future Fund has allocation to the venture capital firm. The Future Fund has allocated capital to around 10 venture capital firms globally.

Khazanah Nasional Looks to Target Southeast Asian Healthcare Companies

Khazanah Nasional is planning to invest in more Southeast Asian life and health insurance companies through its sovereign wealth enterprise (SWE) called Avicennia Capital Sdn Bhd. There is a secondary preference toward general insurance companies. Key potential markets include Indonesia, the Philippines, Singapore, Thailand and Malaysia.

GIC Increases Stake in Merlin Entertainments PLC

Singapore’s GIC Private Limited has accrued a 5.185% stake in UK-based Merlin Entertainments PLC. Merlin Entertainments operates Madame Tussauds waxworks and LEGOLAND. GIC raised its position from 27.6 million shares to 52.6 million shares. In early March, LEGO unveiled the Star Wars Death Star model display at LEGOLAND.

The HKBN IPO

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Calamos Investments to Acquire Timpani Capital Management

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Naperville, Illinois-based Calamos Investments signed a deal to acquire Milwaukee-based Timpani Capital Management LLC, which focuses on small and small-midcap growth investing. Founded in April 2008, Timpani Capital Management oversees around US$ 588 million in assets. The deal is expected to close in the second quarter of 2019.

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RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings

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The Russian Direct Investment Fund (RDIF) and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. SBI Bank LLC will undergo a large-scale reorganization.

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Ocasio-Cortez and Maxine Waters to Oversee US Banking System via House

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The youngest woman ever to serve in U.S. Congress – starting at the age of 29 – already has an opponent in her sights. Freshman U.S. Representative Alexandria Ocasio-Cortez, often dubbed AOC on Twitter, was appointed to the House Financial Services Committee, where the democratic socialist will oversee Wall Street. This committee oversees the banks and financial institutions of the United States. With Republicans controlling the U.S. Senate and the White House, and the Democrats controlling the House, one can expect less game-changing bills being turned into laws in the banking sector.

While bartending and waiting tables at the Flats Fix taco bar in Union Square, Ocasio-Cortez upset the more centrist Representative Joe Crowley, Chairman of the House Democratic caucus. Encouraged by her success, other far left democrats are planning to challenge moderate democrats in the 2020 primaries. Ocasio-Cortez is also expected to further strengthen the influence of Chairwoman Maxine Waters of the House Financial Services Committee. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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