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Mubadala Partners With Greece’s Taneo on €400M Co-Investment Platform

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Abu Dhabi-based Mubadala Investment Company has signed a Memorandum of Understanding (MoU) with the New Economy Development Fund S.A. (Taneo), Greece government’s venture capital-focused fund-of-funds, to form a €400 million co-investment platform. Under the agreement, both parties will contribute an equal €200 million to the vehicle, which will focus on the growth of promising companies in key sectors of the Greek economy, and share knowledge that will strengthen trade and diplomatic ties between the two nations.

Founded in 2001 by the Greek government, Taneo has made early and expansion stage indirect investments in some 50 small and medium-sized enterprises in Greece’s telecommunications, information technology, e-commerce, biotechnology, and material sciences sectors through over 10 venture capital funds.

Deutsche Trustee Company Limited is the trustee of the New Economy Development Fund. KPMG is an advisor to the New Economy Development Fund.

The United Arab Emirate’s US$ 127 billion sovereign investor announced last week that it would be absorbing its sister organization, the Abu Dhabi Investment Council (ADIC), to operate together under the umbrella of the Mubadala Group. The structural change comes under the direction of a new law issued by President Sheikh Khalifa bin Zayed Al Nahyan, which will see Mubadala’s directors take over as board of the ADIC, with the ADIC’s management remaining on to help run the council.

Abu Dhabi began bundling its state-owned entities together early in 2017, when the Mubadala Development Company merged with the International Petroleum Investment Company (IPIC), in an effort to create economies of scale and diversify the country away from its reliance on hydrocarbon revenues.

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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