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Korea’s NPS Commits 375 Million to Natural Resource and Power PE Fund

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Toronto-based Sprott Consulting LP, the private equity unit of Sprott Inc., has been awarded a mandate to co-manage a 10-year US$ 375 million private equity fund by Korea’s National Pension Service (NPS). The NPS has more than US$ 380 billion in assets, making it the third largest pension fund on the planet. The other asset manager will be Woori Asset Management, the asset manager of Korea’s biggest bank. The fund mandate will target private equity investments in global natural resources and power sectors.

A matching US$ 375 million co-investment commitment will be provided by state-owned Korean Electrical Power Company (KEPCO). KEPCO is the principal electric utility on the Korean peninsula, responsible for 93% of all of South Korea’s electricity generation.

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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