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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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Anbang Insurance Set to Sell its US Luxury Portfolio

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Distressed Beijing-based holding company Anbang Insurance Group is set to sell its U.S. luxury hotel properties, which were purchased for US$ 5.5 billion from the Blackstone Group in 2016. This is a move to raise quick cash, following the firm’s seizure at the hands of the Chinese government six months ago. Bids had already been ongoing for selected properties, including the famed Essex House Hotel, overlooking Manhattan’s Central Park. The portfolio of hotels is strategically placed in geographically diverse regions, including Miami and Chicago. Anbang is looking to cash in on the properties quickly, as its properties in China are already being liquidated. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway GPFG Returns 1.8% for Second Quarter of 2018

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Norway’s Government Pension Fund Global (GPFG) returned 1.8% for the second quarter of 2018. Listed equity investments generated a 2.7% return for the period, while fixed income returned 0%. Unlisted real estate investments posted a 1.9% return for the second quarter. In addition, the Norwegian krone depreciated against the U.S. dollar during the quarter. Furthermore, 2 billion NOK was withdrawn from the fund.

“North American and European stocks had a positive development in the quarter despite the prospect of increased trade barriers. This made a positive contribution to the fund’s return,” says Trond Grande, Deputy CEO of Norges Bank Investment Management, according to the press release.

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Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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