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Mumtalakat Sells Interests in Nobel Learning Communities

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Bahrain’s sovereign wealth fund, Mumtalakat Holding has sold its stake in Nobel Learning Communities, a provider of private education in the United States. Nobel Learning Communities is now owned by Spring Education Group, a subsidiary of Primavera Capital Group, a Hong Kong-based investment firm. The terms of the sale were not publicly disclosed. Nobel Learning Communities operates Pre-K, Elementary, and High Schools throughout the U.S.

Mahmood H Alkooheji, CEO of Mumtalakat celebrated the progress Noble has made, “Nobel Learning has grown considerably since our investment three years ago, answering the needs of more people with their quality educational programs. On average, each additional year of education a child receives increases their adult earnings by about 10%.” Alkooheji went on to point out that Mumtalakat’s “investment in Nobel Learning reflects our optimistic outlook on the US market.” Alkooheji further suggested that Mumtalakat will continue to scan the horizon for other opportunities in the educational sector.

Nobel Learning Communities was not Mumtalakat’s first entry into the educational field, having previously purchased an aviation academy in 2009. Mumtalakat acquired Nobel Learning Communities in 2015, in a partnership arrangement with Investcorp, a global asset manager with an office in Bahrain. Mumtalakat’s mission is to grow the wealth of Bahrain through long-term, sound investment strategies, specifically in non-oil and gas assets. It currently holds stakes in over 60 enterprises over a varied array of sectors: education, industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, and healthcare. The combined asset value of Mumtalakat’s holdings is estimated to be US$ 15.4 billion.

Norway GPFG Would Prioritize Value in Tesla Stake

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Sovereign wealth fund giant Norway Government Pension Fund Global (GPFG) is an investor in Tesla, holding a 0.48% stake at the end of 2017. GPFG owns roughly 1.4% of all globally listed company shares, minus stocks from its exclusion pool. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Anbang Insurance Set to Sell its US Luxury Portfolio

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Distressed Beijing-based holding company Anbang Insurance Group is set to sell its U.S. luxury hotel properties, which were purchased for US$ 5.5 billion from the Blackstone Group in 2016. This is a move to raise quick cash, following the firm’s seizure at the hands of the Chinese government six months ago. Bids had already been ongoing for selected properties, including the famed Essex House Hotel, overlooking Manhattan’s Central Park. The portfolio of hotels is strategically placed in geographically diverse regions, including Miami and Chicago. Anbang is looking to cash in on the properties quickly, as its properties in China are already being liquidated. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway GPFG Returns 1.8% for Second Quarter of 2018

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Norway’s Government Pension Fund Global (GPFG) returned 1.8% for the second quarter of 2018. Listed equity investments generated a 2.7% return for the period, while fixed income returned 0%. Unlisted real estate investments posted a 1.9% return for the second quarter. In addition, the Norwegian krone depreciated against the U.S. dollar during the quarter. Furthermore, 2 billion NOK was withdrawn from the fund.

“North American and European stocks had a positive development in the quarter despite the prospect of increased trade barriers. This made a positive contribution to the fund’s return,” says Trond Grande, Deputy CEO of Norges Bank Investment Management, according to the press release.

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