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Friday SWFI News Roundup, May 6, 2016

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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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FIRRMA Bill is a Big Deal for Foreign Asset Owners

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The United States Treasury is analyzing options on further restricting investments into “sensitive” sectors, such as technology and defense, in the United States from Chinese state-owned capital. The U.S. Commerce Department, under the export control regime, banned U.S. companies from selling parts to ZTE Corporation, a Chinese telecommunications manufacturer, for seven years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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AIMCo Posts 10.4% Return in 2017

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The Alberta Investment Management Corporation (AIMCo) posted its performance for the 12-month period trailing December 31, 2017, which saw its overall assets grow by 8.4% – or C$ 8.0 billion (US$ 6.1 billion) – to C$ 103.7 billion (US$ 82.3 billion). This represents returns net-of-fees on its C$ 88.2 billion (US$ 70.3 billion) worth of balanced fund investments in 2017 of 10.4%, against a 9.1% custom benchmark. Established in 2008, AIMCo represents the financial well-being of 32 pension, endowment, government, and specialty funds in the Canadian province of Alberta. This includes the Albert Heritage Fund.

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Mubadala Real Estate Targets JV Developers, Eyeing Local REIT Launch

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Mubadala Investment Company’s property arm is preparing to launch a local real estate investment trust (REIT) by 2020, and is currently in talks with several developers for international joint ventures on a plot-by-plot basis that are expected to be finalized in 2018, according to Ali Eid Al Mheiri, executive director of Mubadala Real Estate and Infrastructure. Ali Eid Al Mheiri is also Vice Chairman of ALDAR Properties PJSC and Chairman of Abu Dhabi Finance Company PJSC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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