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Libyan Investment Authority Looks at Tunisie Telecom Stake from Dubai Owner

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tunisietelecom_logo_sqUnder the now-deposed Libyan leader Muammar Gaddafi, the Libyan Investment Authority (LIA) was a cornerstone investor in sub-Saharan Africa, especially in sectors such as telecommunications and real estate. During his tenure, Gaddafi gave up on the Arab world to hone in on Africa in terms of politics, relations and investments. Despite Gaddafi’s violent ousting, the LIA is still operational and in the process of repairing itself under a new administration.

In fact, GreenN, a telecommunications organization under the authority of the Libyan Africa Portfolio (LAP), is in discussions to purchase a 35% stake in state-owned Tunisie Telecom. That stake is currently owned by Dubai Holding’s Emirates International Telecommunications LLC. The remaining interest is controlled by the government of Tunisia.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CDPQ Boosts Stake in Azure Power

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Disclosed on October 17, 2018, Caisse de dépôt et placement du Québec (CDPQ), through CDPQ Infrastructures Asia Pte Ltd., increased its stake in Azure Power Global Limited, a listed Indian solar power producer. CDPQ increased its ownership in Azure Power to 40.3% ownership by a US$ 100 million commitment in a recent capital raise. Post-deal, CDPQ has invested US$ 240 million in Azure Power.

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Invesco Lost a Big SWF Equity Mandate

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Invesco celebrated its landmark acquisition to acquire OppenheimerFunds from MassMutual. Invesco faced some outflows on its active management side of the business. In the third quarter of 2018, Invesco had outflows from two sovereign wealth funds, which totaled approximately US$ 2.5 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Sky News Reveals CPPIB Eyeing Gatwick Airport

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Mark Kleinman of Sky News revealed that the Canada Pension Plan Investment Board (CPPIB) is seeking to purchase a stake in Gatwick airport. The transaction could be more than £3 billion GBP, as CPPIB seeks to acquire a 42% in the airport from Global Infrastructure Partners. Furthermore, CPPIB would invest more capital into the airport if the deal goes through.

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