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How Far Along is SoftBank’s Vision Fund After Reaching its First Close?

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On the heels of U.S. President Donald J. Trump in Saudi Arabia, Japan-based SoftBank Group announced its first major close regarding the gargantuan SoftBank Vision Fund. Japanese billionaire Masayoshi Son, Chairman of SoftBank, was also in Riyadh at the time. After Trump’s victory over Hillary Clinton in the U.S. Presidential election, Son met with Trump, pledging US$ 50 billion of investment into the United States, thus seeking to create 50,000 U.S. jobs.

Initial investors backing the fund include Saudi Arabia’s Public Investment Fund (PIF), Mubadala Investment Co., Qualcomm, Sharp Corporation, Apple Inc., and Foxconn Technology Group. PIF has the largest commitment at US$ 45 billion and will reserve the right to participate in certain deals. The Qatar Investment Authority (QIA) has not fully-confirmed its participation in the fund. When fully-funded, the global SoftBank Vision Fund will be the largest private equity-style, technology-focused fund ever formed.

The SoftBank Vision Fund aims to “accelerate the information revolution,” looking to back investments in robotics, computational biology, mobile applications, cloud technologies, consumer internet businesses, artificial intelligence (AI) and financial technology. The Vision Fund will seek to buy minority and majority ownership interests in both private and public companies. These companies could be both mature, established businesses, all the way to, emerging technological companies. The fund will target investments starting at US$ 100 million or more. Also, PIF had invested billions into Uber Technologies, while SoftBank invested in Chinese taxi app Didi. With that being stated and to avoid potential conflict, the Vision Fund plans to not participate in taxi-app deals.

When fully-funded, the global SoftBank Vision Fund will be the largest private equity-style, technology-focused fund ever formed.

Vision Fund Investor Table

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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