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Kazakhstan Analyzes Stake in CITIC Resources

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CITIC Resources Holdings Limited, the Hong Kong-listed commodities arm of Chinese state-owned investor company CITIC Group Corporation, is working on the final stages of a deal to sell a significant minority stake in the company to entities owned by the government of Kazakhstan. The stake sale, which supposedly includes the offloading of a number of CITIC Resource’s underperforming oil and coal assets, comes as both China and Kazakhstan gear up for Beijing’s continent-spanning One-Belt One-Road initiative.

Like many Chinese companies, CITIC Group has done a number of deals with Kazakh enterprises over the past several years – primarily in the energy and banking sectors – aimed at strengthening economic ties between the neighboring countries, with the overall result being a hundredfold increase in cross-border trade, according to Kazakhstan’s foreign ministry. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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