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ISIF May Allocate €1 Billion to Irish Projects for 2015

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Irish Strategic Investment Fund (ISIF), a strategic development sovereign wealth fund (SDSWF), plans to allocate between €500 million and €1 billion to projects and investments in Ireland for the remaining part of the year. The ISIF has a number of mandates which include generating commercial returns, boosting Ireland’s economy and domestic job creation. The ISIF is looking at over 100 proposals, building a pipeline of deals. Some allocations have been in Movidius and Malin Corporation. ISIF is also investigating opportunities to fill the investment gap in residential development construction.

ISIF manages the remaining €7.4 billion left from the National Pension Reserve Fund (NPRF). ISIF is run by Ireland’s National Treasury Management Agency.

U.S. Pentagon Looks at Strategic Development with Startups

The concept of strategic development is not unique to countries like Ireland and the United Arab Emirates. The U.S. Defense Department is working with the venture capital arm of the Central Intelligence Agency (CIA), In-Q-Tel, to source technology startups. In-Q-Tel was formed in 1999 to identify and invest in startups that could keep the CIA in the loop on the latest private sector technology developments related to its mission.

The Pentagon is keen on finding startups to “help its mission to defend the United States”. One key area of interest is cyber security.

Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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