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International Far Eastern Leasing Receives Investment From KKR, GIC SI and CICC

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According to the press release, “An investor consortium comprising affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR), GIC Special Investments Pte. Ltd. (GIC SI) and China International Capital Corporation Limited (CICC) announced an investment of $160 million for a significant minority stake in International Far Eastern Leasing Company Ltd. (Far Eastern), the leading provider of financial leasing in China and a subsidiary of Sinochem Group (Sinochem). The investment will support Far Eastern’s future growth as it moves to capitalize on the attractive potential in the underdeveloped financial leasing space in China. Sinochem is retaining a controlling stake in Far Eastern.

‘We are very excited to have world-class investors, comprising KKR as the lead investor, together with GIC SI and CICC, as long-term partners in Far Eastern’s development,’ said Mr. Kong Fanxing, Chief Executive Officer of Far Eastern. “In addition to capital, their experience investing in and growing financial services businesses globally brings tremendous value to Far Eastern and will enable us to further develop our ability to provide integrated and innovative business services around our core business of financial leasing. This investment will also help support the Shanghai government’s long term goal to develop the city into a global financial and shipping center.’

Headquartered in Shanghai, Far Eastern is focused on providing innovative and industry-tailored financing solutions for its clients. The company targets sectors with stable cash flow and sustainable growth potential, including those in the medical, printing, education, infrastructure construction, shipping, machine tool sectors, etc.

‘We are delighted to have the opportunity to invest in Far Eastern, the market leader in the financial leasing industry in China. We have been extremely impressed with the company’s strong track record, outstanding management team, deep customer relationships and a very supportive shareholder, Sinochem.” David Liu, Member of KKR and Head of KKR Greater China, said. “We look forward to fully utilizing our financial services industry expertise and global network to support the company as it continues to grow and develop into a world-class financial institution.’

‘We are pleased to become a partner of Far Eastern Leasing and Sinochem. As a global investor, GIC SI has a long-term investment interest in China,” Liu Dong, Head of GIC SI Greater China said. “We have extensive investment experience in China’s financial services industry and state owned enterprises. We would share our experience with Far Eastern and Sinochem and help accelerate the development of their businesses.’

‘We are excited to have the opportunity to invest in a high-growth enterprise like Far Eastern led by a superb management team,” said Ms. Shirley Chen, Managing Director and Head of Private Equity of CICC. “We hope our expertise in capital markets and our understanding of China’s financial services industry and the development of its state owned enterprises, coupled with our network in China, will be helpful for Far Eastern’s future development.'”

read more: KKR Press Release

Koch Brothers Kick Big Money into ERP Cloud Software Company Infor

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New York-based Infor is an enterprise cloud software company. Infor raised US$ 1.5 billion from existing shareholders, Golden Gate Capital and Koch Equity Development LLC. Koch Equity Development is the investment and acquisition subsidiary of Koch Industries, Inc. Infor has 17,300 employees. At fiscal year 2018, Infor claims it generated over US$ 3 billion in revenue. Infor states that over 72% of all hospitals in the United States run Infor applications. Infor could be heading toward an initial public offering (IPO) or possibly be acquired by a company like Oracle Corporation or Salesforce. Charles E. Phillips is the CEO of Infor and before heading it was Co-President of Oracle from 2003 to 2010.

On February 21, 2017, Koch Equity Development invested US$ 2 billion into Infor. Koch Industries was a customer of Infor before it became an investor in the company. Golden Gate Capital made its first investment in Infor in 2002.

Matt Flamini is the President of Koch Equity Development. Jim Hannan is Koch Executive Vice President and CEO of Enterprises for Koch Industries, Inc.

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Could Australia’s Future Fund Offer a Low-Fee Superannuation for its Citizens?

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Australia’s Scott Morrison government may soon allow the country’s Future Fund to offer low-fee superannuation accounts. Aware of the proposal, Prime Minister Morrison stressed that offering Australia a low-fee, government-managed superannuation fund as a default option is not government policy.

However, many proponents of this model believe it would create competition in the country’s US$ 2.7 trillion dollar retirement system. The Future Fund Chairman, Peter Costello, and economist Nicholas Gruen, CEO of Lateral Economics, put forth the idea, and it is quickly gaining support. This comes in the wake of Australians learning that they were losing US$ 3.8 billion annually in high-fee, underperforming accounts, and many were mistakenly being charged fees with no accompanying service provided. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Saudi and Other Gulf Country Bonds to Join JPMorgan Emerging Market Bond Index

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In a boost for Gulf-based debt, JPMorgan is adding their debt compositions to two influential emerging market bond indexes. These emerging market indexes are the most widely tracked among asset managers in the industry. Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, and Qatar are being added to the J.P. Morgan EMBI Global Diversified Index and the EMBI Global, starting January 31, 2019. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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