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Friday SWFI News Roundup, May 6, 2016

Round II for Glencore Ag Unit

Glencore plc is in discussions to unload a further 9.9% stake in its agricultural unit. Glencore is on a mission to raise cash and is talking to bidders that lost to Canada Pension Plan Investment Board’s (CPPIB) 40% stake deal. These bidders include the Qatar Investment Authority (QIA), another Canadian pension and Saudi Agricultural and Livestock Investment Co (SALIC), which is owned by the Public Investment Fund (PIF).

New York-Presbyterian Hires Kaiser Permanente’s CIO

New York-Presbyterian, a healthcare non-profit, has hired a new chief investment officer. William Lee will join New York-Presbyterian as CIO. He replaces Gloria Reeg as CIO who is retiring effective June 1, 2016. Lee spent more than 10 years at Oakland-based Kaiser Permanente, America’s largest health care non-profit. Lee also worked at Levi Strauss & Co., where he headed global pension investments.

Temasek and General Atlantic Eye Stake in Aster DM Healthcare

Private equity investor General Atlantic LLC and Temasek Holdings are in talks to buy a minority stake worth between 10% to 15% in Dubai-based Aster DM Healthcare. Aster DM Healthcare is planning to have an initial public offering (IPO). The company oversees a total of 15 hospitals, 80 clinics and 200 pharmacies in the Middle East and India.

OCERS Looks to Ditch AEW Core Fund Over Returns

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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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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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