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India Rising: Canadian Pension Giants to Open Mumbai Offices

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India dealsCanadian Prime Minister Stephen Harper met with Indian Prime Minister Narendra Modi to work on a number of commercial agreements to facilitate trade and investment between the countries. After the election of Modi, Canadian pensions, sovereign wealth funds and private equity firms have boosted capital toward Indian companies and real estate.

Opening up Mumbai Offices

Caisse de dépôt et placement du Québec (CDPQ) announced its intentions to open an overseas office in Mumbai in 2016. CDPQ has already established overseas offices in China and Singapore. In addition, Canada Pension Plan Investment Board (CPPIB) plans to open their office in Mumbai in October 2015. In January, CPPIB hired search firm Egon Zehnder to assist in finding executives for an India team. Pension investors like the CPPIB continually search for Indian partners who have a long-term mentality and have the ability to scale up investments. In November 2013, CPPIB signed a deal with construction firm Shapoorji Pallonji Group on real estate developments.

Another notable deal is Saskatchewan-based Cameco which inked a deal with India’s Department of Atomic Energy. The deal entails Cameco in supplying 7 million pounds of Uranium to India over the next five years. Canada and India have a nuclear cooperation agreement.

“It is exciting to see the commercial deals being signed between Canadian and Indian firms today, which will generate jobs and economic growth in both countries. The untapped trade potential between Canada and India is enormous. Canada has what India needs and vice-versa. Recognizing this, Prime Minister Modi and I are busy working to advance bilateral agreements that will further increase two-way trade and investment flows.” said Prime Minister Harper in a press release.

Calamos Investments to Acquire Timpani Capital Management

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Naperville, Illinois-based Calamos Investments signed a deal to acquire Milwaukee-based Timpani Capital Management LLC, which focuses on small and small-midcap growth investing. Founded in April 2008, Timpani Capital Management oversees around US$ 588 million in assets. The deal is expected to close in the second quarter of 2019.

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RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings

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The Russian Direct Investment Fund (RDIF) and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. SBI Bank LLC will undergo a large-scale reorganization.

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Ocasio-Cortez and Maxine Waters to Oversee US Banking System via House

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The youngest woman ever to serve in U.S. Congress – starting at the age of 29 – already has an opponent in her sights. Freshman U.S. Representative Alexandria Ocasio-Cortez, often dubbed AOC on Twitter, was appointed to the House Financial Services Committee, where the democratic socialist will oversee Wall Street. This committee oversees the banks and financial institutions of the United States. With Republicans controlling the U.S. Senate and the White House, and the Democrats controlling the House, one can expect less game-changing bills being turned into laws in the banking sector.

While bartending and waiting tables at the Flats Fix taco bar in Union Square, Ocasio-Cortez upset the more centrist Representative Joe Crowley, Chairman of the House Democratic caucus. Encouraged by her success, other far left democrats are planning to challenge moderate democrats in the 2020 primaries. Ocasio-Cortez is also expected to further strengthen the influence of Chairwoman Maxine Waters of the House Financial Services Committee. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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