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GIC Takes VietJet for a Ride

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VietJet Aviation Joint Stock Company (VietJet), a Vietnamese budget air carrier, breathed life into plans to go public. VietJet was granted initial approval to operate in November 2007 by Vietnam’s Minister of Finance and was founded by Nguyen Thi Phuong Thao, a Vietnamese businesswoman. In the 1980s, Nguyen Thi Phuong Thao was a student in Moscow who had an entrepreneurial itch. In 1988, she started distributing goods from Japan, Hong Kong and South Korea in the then USSR (Soviet Union). After a while, Nguyen Thi Phuong Thao left Moscow and returned to Vietnam and financially invested in Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) and Vietnam International Commercial Joint Stock Bank. This gave Nguyen Thi Phuong Thao the experience and capital to start an airlines company later in her career, betting on a growing market economy in Vietnam.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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