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Mubadala among top transparent sovereign funds

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According to Gulf News, “Mubadala has retained its position among the world’s top eight most transparent sovereign wealth funds. Mubadala has retained its position among the world’s top eight most transparent sovereign wealth funds

Dubai: The UAE’s Mubadala Development Company has retained its position among the world’s top eight most transparent sovereign wealth funds according to the Linaburg-Maduell Index, the only one of its kind. Ranked from zero to 10, Mubadala has retained its score of 10 in the first quarter of this year on the index, which was developed at the US-based Sovereign Wealth Fund Institute by Carl Linaburg and Michael Maduell.

Mubadala, owned by the Government of Abu Dhabi, does not consider itself a sovereign wealth fund. It manages long-term capital-intensive investments. It has a multi-billion-dollar regional and international portfolio ranging from services to infrastructure to aerospace.

It helps to deliver some of Abu Dhabi’s most high profile and strategically important projects.

“Mubadala has adapted well to our expanding size and profile, introducing a range of policies to ensure our operations maintain their efficiency and transparency,” CEO and Managing Director Khaldoon Khalifa Al Mubarak said in a foreword to the annual report for 2009.”

Read more: Gulf News

White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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