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Matt Whineray to Serve As Interim Chief At NZ Super

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The Board of Guardians of the New Zealand Superannuation Fund (NZ Super) appointed chief investment officer Matt Whineray to serve as the sovereign fund’s acting head in mid-March of 2018 following the exit of current chief executive Adrian Orr, who will be beginning his five-year term as Governor of the Reserve Bank of New Zealand. A lawyer by training who spent his early career in investment banking at Credit Suisse and First NZ Capital, Whineray is well positioned to capitalize on the Fund’s stellar performance in 2017. He will be celebrating his 10-year-anniversary at NZ Super in May.

The search for Adrian Orr’s replacement officially began in January 2018, and is expected to take a number of months to complete, with submissions coming from around the globe. Mark Fennel, general manager of portfolio completion and longtime veteran at NZ Super, will take up the duties of chief investment officer for the duration of the recruitment process, according to a press release.

An accomplished economist with extensive experience in public sector finance, Adrian Orr took the helm at NZ Super in 2007, and has earned a spot numerous times in the Sovereign Wealth Fund Institute’s Public Investor 100 annual ranking over the years, most recently in 2017 at #3.

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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