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Kuwait Investment Authority Invests $100 Million in Healthcare IT Company

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KIA

Bader Mohammad Al-Sa’ad, Managing Director, Kuwait Investment Authority

The Kuwait Investment Authority (KIA) has invested US$ 100 million in Culver City-based NantHealth LLC which is part of the NantWorks family of companies. NantHealth is a cloud-based healthcare information technology company. A key company product is the NantHealth Clinical Operating System (cOS). The NantHealth platform has been installed at around 260 hospitals. According to the CEO of NantHealth, the sovereign wealth fund investment allows the company the possibility to globally scale the product.

In a press release, Bader Mohammad Al-Saad, Chief Executive Officer of the Kuwait Investment Authority said, “Our fund makes investments in companies which not only are the leaders in their field, but which also have the potential to make huge positive impact for multi-generations to come. NantHealth is such a company and we are pleased to be able to contribute to the global footprint of Dr. Soon-Shiong’s vision to improve the lives of humanity.”

BlackBerry Deal

The mobile market has become intensely competitive for the Canadian company. Earlier in 2014, NantHealth inked a deal with smartphone maker BlackBerry. BlackBerry is pivoting toward its enterprise market in regulated industries such as government, healthcare and financial services. The integration of proprietary applications like NantHealth could make BlackBerry sticky for medical professionals.

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Norway GPFG Excludes More Companies, 2 For Coal and 1 for Working Conditions in Vietnam

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Norway Government Pension Fund Global will not be able to invest in three more companies as decided by Norges Bank. In a statement by Norges Bank Investment Management (NBIM), Texwinca Holdings Co, Evergy Inc, and Washington H. Soul Pattinson & Co Ltd., were removed from the sovereign wealth fund’s portfolio.

Texwinca Holdings Co is a Hong Kong-based investment holding company that is engaged in activities such as knitted fabric and apparel businesses. Norges Bank excluded this firm over its view on an unacceptable risk that the company is responsible for serious or systematic human rights violations. Texwinca owns 50% of the shares in Megawell Industrial Ltd, making it that company’s largest shareholder. Megawell owns the garment factories Hugo Knit and Kollan in Vietnam as wholly owned subsidiaries. Texwinca claims that it does not have a controlling influence over Megawell and is not responsible for the working conditions at Megawell’s factories in Vietnam, according to a finding by Norway GPFG’s Council on Ethics.

Evergy is an investor owned electric utility headquartered in Kansas City, Missouri, United States. Evergy is the largest electric company in Kansas. Norges Bank excluded this firm based on an assessment of the product-based coal criterion.

Washington H. Soul Pattinson and Company Limited is an Australian conglomerate founded by businessman Lewy Pattinson. Norges Bank excluded this firm based on an assessment of the product-based coal criterion.

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CPPIB and Insight Invest $500 Million in Swiss Data Recovery and Backup Company

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Baar, Switzerland-based Veeam Software locked in US$ 500 million in investment from Insight Venture Partners and the Canada Pension Plan Investment Board (CPPIB). Founded in 2006, Veeam Software is a provider of data management solutions, such as backup and data recovery solutions, for the public and private cloud. Veeam Software claims it has roughly US$ 1 billion in sales last year and more than 325,000 customers. Insight Venture Partners acquired a minority stake in Veeam back in 2013.

Pursuant to the terms of this investment, Insight Venture Partners’ Managing Director, Michael Triplett, will join Veeam’s board of directors.

Gordon R. Caplan, Co-Chairman of Willkie Farr & Gallagher LLP, served as advisor for the deal.

Some of Veeam’s competitors include Palo Alto-based Rubrik, which in January raised US$ 261 million in a Series E funding round from investors such as Khosla Ventures, Greylock Partners, Lightspeed Venture Partners, IVP, and Bain Capital Ventures.

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Korea’s NPS Plants Stewardship Responsible Unit

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The National Pension Service of Korea formed a division to comply with its adoption of stewardship principles that were revealed in July 2018. The pension promoted its 9-member team of responsible investment professionals to the global responsibility investment and governance division in late December 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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