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Friday SWFI News Roundup, May 15, 2015

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Stanford Endowment’s Head of Private Equity Joins Adams Street Partners

Saguna Malhotra, the former managing director for private equity for Stanford University’s endowment, has joined Adams Street Partners as a partner. She will be based in Menlo Park. Before working at Stanford Management Company (SMC), Malhotra was vice president at Ripplewood Holdings. At SMC, she was responsible for a US$ 5.7 billion private equity portfolio.

GIC Invests in Indian Microlender

Indian microlender Bandhan Financial Services raised Rs 1020 crore (US$ 159 million) equity from International Finance Corporation (IFC), Singapore’s GIC Private Limited and Small Industries Development Bank of India. GIC has invested Rs 640.87 crore in Bandhan. IFC invested Rs 344 crore. After the capital raise, Bandhan got its final banking license from the Reserve Bank of India (RBI).

GIC and QIA to Invest in Flipkart Round

Bengaluru-based Flipkart is near raising US$ 550 million in new capital. Leading the round is Tiger Global, plunking down US$ 100 million. Other investors are DST Global, Accel Partners, Naspers, Steadview Capital, Qatar Investment Authority (QIA) and Singapore’s GIC Private Limited. Flipkart is keen on gaining market share against its domestic rival Snapdeal and its foreign rival Amazon for dominance in the Indian online retail industry.

Korea’s National Pension Service Plans to Open Singapore Office

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OTPP Anticipates Money from Cushman Wakefield IPO

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The Ontario Teachers’ Pension Plan (OTPP) participated with TPG and PAG Asia on the buyout of DTZ a while back. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Tom Gores Wants Some Credit Game

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Traditional buyout firms are looking at building credit platforms to enhance revenue. Recently, Platinum Equity, a buyout firm run by Tom Gores that was formed in 1995, hired Michael Fabiano to help spur the formation of a credit investing division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Saudi Arabian Military Industries Forms Venture with Navantia

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State-owned Saudi Arabian Military Industries (SAMI) signed a deal with Navantia, a Spanish state-owned shipbuilding company, to form a joint venture to construct five warships – the building of five Avante 2200 Corvettes. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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