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Kuwait eyes profit from Citigroup stake -minister

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According to Reuters, “Kuwait’s finance minister expressed confidence in the Gulf Arab state’s sovereign wealth fund investment in U.S. bank Citigroup, saying in remarks published on Tuesday that it could turn profitable.

‘Our investment in Citi… is beneficial… and God willing we will reach a stage where it becomes profitable,’ Mustapha al-Shamali told al-Rai newspaper.

The Kuwait Investment Authority (KIA), which manages state assets in the world’s fourth-biggest oil exporter, has come under fire from some parliamentarians for investing $5 billion last year in U.S. banks Citigroup and Merrill Lynch has since been bought by Bank of America.”

read more: Reuters

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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