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GIC Acquires Minority Interest in BBAM

Increasingly, asset owners such as sovereign funds and pensions are dipping their toes into the world of aircraft leasing and financing. Singapore’s GIC Private Limited, through a sovereign wealth enterprise (SWE), agreed to buy a 30% ownership stake in San Francisco-based BBAM Limited Partnership. GIC is buying BBAM ownership interest through partial sales by the company’s two existing shareholders, BBAM’s management team and the Onex Group. Following the transaction, all three parties will assume minority joint ownership of BBAM. The transaction is expected to close by September 30, 2017, subject to certain conditions and approvals.

With more than 400 aircraft under management, BBAM is one of the largest investment managers committed to the leased commercial jet aircraft space, building upon a 30-year joint venture with Nomura Babcock & Brown. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Riksbank Appoints Permanent Head of Financial Stability

Sveriges Riksbank has appointed Olof Sandstedt to lead its financial stability department on a permanent basis, effective November 14, 2017. Sandstedt has been the department’s acting head since June 7, 2017 when he took over for Kasper Roszbach, who departed Riksbank to take up a new position at Norges Bank as director of its research division.

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Mubadala Inches Closer to Invepar Ownership

Since the beginning of the year, Abu Dhabi-based Mubadala Investment Company has been looking at owning the distressed Brazilian infrastructure company Invepar SA for quite some time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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KDC’s Latest Acquisition a Breath of Fresh Air

Knowlton Development Corporation (KDC) has made its latest acquisition with the purchase of Aromair Fine Fragrance Company Inc., a U.S. subsidiary of Aromair Group that specializes in air care products, from London-based Strategic Value Partners. The terms of the transaction, which was completed on November 8, were not disclosed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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