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Friday SWFI News Roundup, May 1, 2015

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Abu Dhabi Investment Council Decreases Ownership in Canadian Retailer

Abu Dhabi Investment Council (ADIC), through its sovereign wealth enterprise Hanover Investments (Luxembourg) S.A., sold off shares of Hudson’s Bay Company at a price of $27.25 per common share. This is approximately 5.8% of the outstanding common shares on a non-diluted basis pursuant to a secondary offering. This deal happened on April 28, 2015. Following the offering, ADIC owns approximately 14.8% of the outstanding common shares on a non-diluted basis in Hudson’s Bay Company. ADIA and Ontario Teachers’ Pension Plan (OTPP) took in US$ 363.5 million from the secondary sale.

Singapore’s GIC Gets RQFII Quota

China’s foreign currency regulator, the State Administration of Foreign Exchange (SAFE), granted Singapore’s GIC a 5 billion yuan (US$ 800 million) quota. Vanguard’s Australian investment arm was granted a 10 billion yuan quota. In total, SAFE granted 30 billion yuan of investment quota to 11 funds through its Renminbi Qualified Foreign Institutional Investor (RQFII) program.

Temasek Looks Into Solusi Tunas Pratama

Singapore’s Temasek Holdings is rumored to be investing in a secondary share issue of PT Solusi Tunas Pratama. Solusi is a listed telecommunications tower operator partly owned by private equity firm Carlyle Group.

CPPIB and GIC in Talks for 02 and Three Holding Company Deal

The Canada Pension Plan Investment Board (CPPIB) and Singapore’s GIC Private Limited, which are in the 2014 top 10 of being the most active direct public investors according to the Sovereign Wealth Fund Transaction Database, are nearing a deal to buy a minority stake in a holding company that owns O2 and Three. In March, Li Ka-shing’s Hutchison Whampoa bought Spain-based Telefonica SA’s O2 unit for £10.25 billion – an initial sum of £9.25 billion in cash. The rest is to be paid contingent on set financial targets.

ADIA and Others Sue Norway Over Gassled Tariff Issues

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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