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Friday SWFI News Roundup, October 3, 2014

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NantHealth Raises Series B from Strategic Investors

NantHealth, a NantWorks company, raised US$ 320 million in Series B financing. The Kuwait Investment Authority (KIA) invested US$ 250 million in the series B round. The KIA had already invested in a previous round – committing US$ 100 million. Other investors are Celgene, Blackberry and the Blackstone Group. Patrick Soon-Shiong is the founder and CEO of NantHealth. In addition, NantHealth has expanded its management team. NantHealth hired Steve Curd as chief operating officer. Curd was the former chief operating officer of WebMD, CIO of United Healthcare and CEO of VantageMed.

New Mexico ERB Commits US$ 70 Million to 2 RE Funds

The New Mexico Educational Retirement Board committed a total of US$ 70 million to 2 real estate funds. The pension investor committed US$ 35 million to Crow Holdings Realty Partners VII which is managed by Dallas-based Crow Holdings Capital Partners. The other US$ 35 million was committed to Prudential Senior Housing Partners V, managed by Prudential Real Estate Investors.

JP Morgan Asset Management Hires and Shifts Executives

JP Morgan Asset Management has named Karim Leguel as head of EMEA client strategy for the firm’s alternatives unit. Leguel was the managing director at Rasini Fairway Capital AG, an independent financial advisory focusing on alternative investment solutions. Leguel will be based in London for the new position. In addition, Jed Laskowitz and Michael O’Brien were named co-heads of JP Morgan Asset Management’s global investment management solutions business. These are new positions.

Relational Investment to Wind Down Operations

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Norway SWF Votes Down Paris Climate Targets at Shell Shareholder Meeting

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Norges Bank Investment Management (NBIM), which oversees Norway Government Pension Fund Global, voted down a proposal put forward by some investors at Royal Dutch Shell’s annual general meeting calling on the company to set emissions targets in line with the Paris climate accords of 2015. The challenge was shot down by 94.5% of Shell shareholders at Tuesday’s proceedings. Its defeat was followed by a statement from the oil giant calling the resolution “unnecessary” in light of the firm’s plans revealed in November to halve its carbon footprint by 2050. Some investors believe Shell would be in a better position to set their own goals on addressing issues like climate change.

The US$ 1.1 trillion sovereign wealth fund – which is itself reliant on cash-streams from Norway’s hydrocarbon stores – announced last July it would be asking the banks in which it invests nearly a quarter of its equity assets to disclose how their lending contributes to greenhouse emissions, and is currently considering whether to drop its exposures in oil and gas companies constituting roughly 6% of its overall portfolio ahead of a parliamentary vote on the proposed policy change later this year.

The climate change motion was featured by 60 long-term institutional investors representing more than US$ 10 trillion in assets – including HSBC, BNP Paribas, Fidelity, Swedish buffer fund AP7, France’s ERAFP, and the United Kingdom’s National Employment Savings Trust (NEST) – in an open letter published during the week of May 16th by The Financial Times urging fossil fuel companies to “clarify how they see their future in a low-carbon world,” without going so far as to openly support its approval.

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PSP Investments Finished Deal on Equity Stakes in AEA and AELO in Portugal

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On May 11, 2018, ROADIS, which is owned by PSP Investments, finalized the purchase of equity interests in Portugal´s Auto Estradas do Atlantico (AEA) for 50% ownership and Auto Estradas do Litoral Oeste (AELO) for 60% ownership from MSF Group (Moniz da Maia, Serra & Fortunato, Empreiteiros) and Lena Group (known locally as Grupo Lena). This is ROADIS’ first investment into Portugal.

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USS Backs Rental Housing Platform Managed by PfP Capital

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The £60 billion Universities Superannuation Scheme (USS) is providing the majority of the funding toward a joint venture to invest in the U.K. private rented sector.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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