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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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Scatec Solar Places Big Solar Bet in Bangladesh

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Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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