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Goldman Sachs Tops SWFI Financial Advisory League Table for H1 2015

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SWFI_leaguetable_july2015reportThe Sovereign Wealth Fund Institute (SWFI), through its proprietary database, tracks transactions by sovereign wealth funds, pensions and other public funds. The first half of 2015 yielded US$ 95.56 billion worth of transactions versus US$ 74 billion in the first half of 2014. For 2014, sovereign wealth fund and public fund transactions totaled US$ 170.93 billion versus US$ 211.74 billion in 2013.

For the first half of 2015, the top three ranked financial advisors when it comes to public investor transactions were Goldman Sachs at #1, JP Morgan at #2 and Morgan Stanley at #3. Goldman Sachs helped find investors including a sovereign wealth fund for Spotify, a music streaming company. Morgan Stanley advised XPO Logistics in raising a large round of capital from investors like PSP Investments, Ontario Teachers’ Pension Plan (OTPP) and Singapore’s GIC Private Limited. Other notable mentions of financial advisors are HSBC, Bank of America Merrill Lynch and Deutsche Bank.

Legal Advisors

For the first half of 2015, the top legal advisor for public fund transactions was Clifford Chance, displacing Linklaters and Freshfields Bruckhaus Deringer LLP. Clifford Chance was the legal advisor for Caisse de Depot et Placement du Quebec’s (CDPQ) massive investment in cross-Channel train operator Eurostar. Linklaters remained in the upper echelon of legal advisors along with firms such as Allen & Overy, Sidley Austin LLP, Debevoise & Plimpton LLP and Weil Gotshal & Manges LLP. Weil Gotshal & Manges LLP was the legal advisor for the Barclay Brothers in Qatar-backed Constellation Hotels’ investment in Coroin Ltd.

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Source: SWFI – Sovereign Wealth Fund Transaction Database -www.swftransaction.com, July 2, 2015

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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