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Iran’s President Allocates US$ 500 Million from NDFI for Rail Leasing

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Iran President Hassan Rouhani has approved the transfer of US$ 500 million from the National Development Fund of Iran (NDFI), one of the Islamic Republic’s sovereign wealth funds, for the creation of a rail leasing company that will provide financing to local investors in the country’s rail projects. Preparations for the company’s launch are expected to be completed by the end of Iran’s fiscal year – March 20, 2018 – according to Nourollah Beiranvand, Deputy Head of the Islamic Republic of Iran Railways.

The state-owned railway company has been moving to attract outside investment in the wake of sanctions relief granted by the Joint Comprehensive Plan of Action – also known as the Iran nuclear deal – which went into effect in January of 2016. Approximately 30% of its locomotive fleet has been transferred to private investors, with €28 billion worth of projects aimed at revamping Iran’s railway system expected to be completed within the next five years.

Stronger Russian Ties

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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