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NDFI Meets with Norwegian Ambassador and Halkbank CEO

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norwayiranA news release issued by the National Development Fund of Iran (NDFI) on Sunday states that the president of the fund, Dr. Seyyed Safdar Hosseini, met with Norwegian Ambassador to Tehran Jens-Petter Kjemprud to discuss potential collaboration between Norway’s sovereign wealth fund, the Government Pension Fund Global (GPFG), and the NDFI.

According to the release, Mr. Kjemprud was hopeful that sanctions in the future would be diminished and that Norway’s advanced technologies could assist Iran in oil extraction. They also discussed about future events in the sovereign wealth space. Dr Hosseini wants to play host for the International Forum for Sovereign Wealth Funds 2015 in Iran. The forum is voluntary member-based organization of sovereign funds that meet annually. The 2013 forum was hosted by Norway in Oslo.

In a separate release, Dr. Hosseini also met with Suleyman Aslan, CEO of Halkbank, a Turkey-based bank that has maintained close ties to Iran since the latest sanctions were imposed.

Dr. Hosseini was reported to have requested that Turkish investors augment their investments in Iran, “with the financing support of both parties and Halkbank being in charge of doing the feasibility study of the projects,” the release said.

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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