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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.

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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