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GIC Becomes Second Biggest Share Holder of CICC

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Caijing reports, “The Government of Singapore Investment Corp will become the second-largest share holder of China Investment Capital Corporation (CICC) after it receives a substantial stake from Morgan Stanley for its exit.  The Government of Singapore Investment Corp (GIC), Singapore’s largest global investment vehicle, will become the second-largest share holder of China Investment Capital Corporation (CICC) after it receives a substantial stake from Morgan Stanley for its exit.

The China Securities Regulatory Commission (CSRC) said in a statement that it had on November 26 approved CICC’s application for the shareholding change that involved a stake of more than 5 percent in the company.  The transfer of shareholding is for Morgan Stanley’s exit from CICC, who plans to sell its stake to four institutions including GIC, a source close to the CSRC confirmed.  Sources close to the deal said the deal could be worth up to more than 1 billion U.S. dollars. Morgan Stanley would sell an 11 percent stake of CICC to Texas Pacific Group (TPG) and Kohlberg Kravis Roberts & Co. (KKR), the two private equity funds and the rest would be transferred to GIC and Great Eastern Life Assurance Co, a wholly-owned subsidiary of Great Eastern Holdings Limited which is controlled by Oversea-Chinese Banking Corporation Limited, according to the same sources.

Under completion of the deal, GIC will become the second-largest shareholder of CICC, from its initial holding of 7.35 percent.

Currently, Central Huijin Investment Ltd holds 43.35 percent of stake, Morgan Stanley with 34.3 percent, China National Investment & Guaranty Co., Ltd with 7.65 percent and GIC, Mingly Corporation with 7.35 percent each, the CICC said on its website.”

Read more: Caijing

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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