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Institutional Capital Linked to Dakota Access Pipeline

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The US$ 3.78 billion project of the Dakota Access Pipeline (DAPL) has no doubt been a contentious issue – widely covered by the general media and sparking protests across U.S. cities such as San Francisco.

The crude oil pipeline spans 1,168 miles, linking Stanley, North Dakota to Pakota, Illinois, passing through the U.S. states of South Dakota and Iowa. Builders of the pipeline contend it will reduce crude oil transported by truck and rail and be able to fulfill Gulf Coast and East Coast refineries greater access to reliable U.S. crude oil production, roughly to a maximum of 570,000 oil barrels per day. The Bakken field is a key beneficiary Pipeline construction commenced in 2016 and by November 2016, it was 87% finished. Many anti-pipeline protesters, a number of Native American tribes, and environmentalists have objected to the pipeline’s routes over concerns about water contamination in the event of a spill or pipeline rupture. In July 2016, the Standing Rock Sioux Tribe filed a lawsuit against the U.S. Army Corps of Engineers in U.S. federal court, seeking to halt pipeline construction. In September 2016, a trial judge dismissed the lawsuit.

North Dakota Revenue

On March 2, 2017, the Associated Press reported the oil-rich state of North Dakota is expected to receive more than US$ 100 million annually in tax revenue from the pipeline once the crude oil flows. SWFI cannot confirm if that money will go the the North Dakota Legacy Fund.

Investor Capital

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Does the Hong Kong Dollar Have a Future?

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Despite the Hong Kong dollar straddling within the upper echelons of being a highly-traded currency, its existence could be in doubt in the future. The Hong Kong dollar is the official currency of Hong Kong and the governmental currency board is the Hong Kong Monetary Authority (HKMA). The HKMA is tasked to oversee the stability of the local currency with its massive pool of government reserves. Before the Hong Kong colonial government named the silver dollar as legal tender in 1863, the global trading post utilized the British sterling, Indian rupees, Spanish silver coins, and Chinese cash coins. There were decades of set exchange rates with the British pound. Fast forward years, eventually in 1983, the Hong Kong dollar was pegged to the U.S. dollar. In 1997, Hong Kong moved from English rule to Chinese control.

Could the Hong Kong Dollar End?

The Hong Kong dollar will soon go into the dustbin of history, according to local and international experts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Invests in Series B in Primer

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San Francisco-based Primer raised US$ 40 million in a Series B round that was led by Lux Capital. Other investors in the round include Mubadala Investment Company and Section 32. Return backers include Amplify Ventures, DCVC (Data Collective, and In-Q-Tel, an investment form supported by the Central Intelligence Agency (CIA). Primer is an artificial intelligence platform that analyzes large datasets, competing with firms like Peter Thiel’s Palantir Technologies Inc. Primer raised US4 14.7 million in its Series A round from In-Q-Tel, Lux Capital, Amplify Partners, and Data Collective.

Primer was founded by New Zealander Sean Gourley, the co-founder & CTO of Quid, an augmented-intelligence company.

Palantir

This is in the midst of the financial backers of Palantir who are trying to value their stake in the company. Morgan Stanley’s mutual funds owns shares in Palantir and have lowered their valuation in the company. Morgan Stanley believes Palantir is worth around US$ 4.4 billion as of September 30, 2018. Palantir attempted to buyback all of the stock held by Morgan Stanley’s mutual funds, which amounts to just around US$ 3 million as of the middle of 2018.

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HSBC and CIC Hold Talks on Bilateral Investment Fund

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Taking a page from the Goldman Sachs cooperative fund deal, banking giant HSBC and the China Investment Corporation (CIC) are in talks to form a £1 billion fund to invest in U.K. companies that have linkages to the Chinese economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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