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Libyan Investment Authority eyes new investments with large cash pile

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Abdulhafid Zlitni

Reuters states, “Libya’s sovereign wealth fund controls assets of more than $65 billion but has only up to 23 percent of its available cash funneled into investments, the fund’s chairman said on Thursday.

The Libyan Investment Authority is one of several highly secretive investment funds owned by national governments that have become increasingly active in buying up Western assets, flush with cash from high oil prices in previous years.

The Libyan fund had a positive albeit small return on investment in 2008, after enjoying roughly a 15 percent return on investment in 2007, said Chairman Abdulhafid Zlitni.

‘We’re very liquid,’ Zlitni, who is also Libya’s planning minister, told reporters at a dinner in Rome in his honour that attracted the top brass of Italian business including Mediobanca Chairman Cesare Geronzi and UniCredit CEO Alessandro Profumo.

‘And when you have cash now, you’re king.'”

read more: Reuters

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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