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National Welfare Fund Receives Request from Russian Ministry of Energy

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The capital requests are coming in from the government. The Russian Ministry of Energy has requested 35 billion roubles (US$ 1.055 billion) from the National Welfare Fund (NWF), one of Russia’s sovereign funds. Russia strategically desires to develop energy infrastructure in Russia’s Far East. The capital would allow RusHydro, a Russian utility company, greater flexibility to advance the Far Eastern power grid. As of March 31, 2013, the government of Russia owns 60.5% of total voting ordinary shares in RusHydro.

In 2012, the government of Russia augmented RusHydro’s capitalization by 50 billion roubles. This capital was for constructing four heat-generation facilities in Russia’s Far East.

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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