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Japan to waive tax on SWF’s interest income

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Reuters reports that “the Japanese government will waive the tax on the interest accrued on sovereign wealth funds’ holdings in the country, the Nikkei business newspaper reported on its web site. Overseas investors generally face a 15 percent tax on interest income. Investors from countries with which Japan has bilateral tax accords are imposed a lower tax of 5 to 10 percent. The report said that for sovereign funds of treaty partners, Japan plans to exempt the interest from bond holdings, deposits and loans. Both corporate and government bonds will be covered by the exemption, but not stock dividends. Nikkei also said Japan has already reached a basic agreement on a tax treaty with Kuwait, while negotiations are ongoing with the United Arab Emirates and Saudi Arabia.”

read more: Reuters

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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