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Khazanah, ADIC, and Brunei Investment Agency to invest in Fajr Capital

According to the Press Release, “Khazanah Nasional Berhad (“Khazanah”) is pleased to announce that it has committed to invest USD150 million (RM525 million) to acquire a 25% stake in Fajr Capital Limited (“Fajr Capital”), a Dubai-based Islamic investment firm. The acquisition was completed with the conclusion of Fajr Capital’s first round of funding with commitments amounting USD588 million (RM2.058 billion) which has brought together prominent shareholders from key Muslim markets, which includes strategic investors Khazanah and a private firm MASIC (a member of Al-Subeaei Group of Saudi Arabia) and other investors, including the sovereign investment agencies, Brunei Investment Agency and Abu Dhabi Investment Council.

Fajr Capital focuses on providing Shari’ah-compliant financial services and complementary opportunities in the broader economy in major Muslim regions.

According to Khazanah’s Managing Director, Tan Sri Dato’ Azman Hj. Mokhtar, the Government investment arm’s venture into Fajr Capital aims to provide cross linkages between Malaysia and key Muslim markets, laying the foundation for a stronger economic cooperation as well as supporting the aspirations of Malaysian International Islamic Financial Centre (“MIFC”).”

read more: Press Release

Mubadala Inches Closer to Invepar Ownership

Since the beginning of the year, Abu Dhabi-based Mubadala Investment Company has been looking at owning the distressed Brazilian infrastructure company Invepar SA for quite some time. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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KDC’s Latest Acquisition a Breath of Fresh Air

Knowlton Development Corporation (KDC) has made its latest acquisition with the purchase of Aromair Fine Fragrance Company Inc., a U.S. subsidiary of Aromair Group that specializes in air care products, from London-based Strategic Value Partners. The terms of the transaction, which was completed on November 8, were not disclosed. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norges Bank Recommends Dropping Oil Stocks for Sovereign Fund

Norges Bank penned a letter to its Ministry of Finance recommending the removal of oil and gas stocks from the GPFG’s benchmark index. At the moment, oil and gas stocks make up roughly 6% of the wealth fund’s benchmark index, or just around 300 billion NOK. Norway’s wealth fund is a major holder of oil companies such as ExxonMobil, Chevron, BP, Total and Royal Dutch Shell. Oil and gas stocks were a major driver of positive equity returns in previous quarters.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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