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Friday SWFI News Roundup, October 9, 2015

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TA Associates to Acquire Russell Investments

Private equity firm TA Associates is acquiring Russell Investments’ money management and investment consultant businesses from the London Stock Exchange Group (LSEG) for US$ 1.15 billion in cash. New York-based Reverence Capital Partners is partnering with TA Associates in buying Russell Investments and will take a minority position in the company. Goodwin Procter LLP is providing legal counsel services to TA Associates and Reverence Capital. Freshfields Bruckhaus Deringer LLP is serving as legal counsel to LSEG. Broadhaven Capital Partners is advising TA Associates and Reverence Capital, and J.P. Morgan and Goldman Sachs are advising LSEG and Russell Investments.

Temasek Goes After Care Hospitals

Singapore’s Temasek Holdings is in a horse race with TPG Growth and Abraaj Capital on acquiring Care Hospitals in a deal worth around US$ 270 million. Care Hospitals are a multi-specialty healthcare chain in India. The seller is Advent International, a majority owner in Care Hospitals. Advent International is being advised by Moelis & Co.

Angola SWF to Invest in Eucalyptus Forests

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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