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Nebras to Mull Over Massive $14 Billion Energy Project in Turkey

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Energy-hungry Turkey is embedded with geostrategic benefits, bridging Asia, Europe and the Middle East. However, Turkey’s growing economy and population demands greater power generation capacity and distribution. Turkey also wants to limit energy imports, being heavily reliant on gathering foreign sources of oil, natural gas and hard coal. Doha-based Nebras Power Company, backed by Qatar Electricity and Water Company (QEWC), Qatar Holding and Qatar Petroleum International, is in talks with the Turkish government in investing in massive mining and power projects in Turkey. Nebras Power is contemplating participating in an international consortium to harvest coal mines and construct coal-fired power plants within Turkey. The proposed coal-run power plants would have a possible generation capacity of 4500 MW.

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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GIC Holds Steady, Maintains Cautious Investment Stance

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Singapore’s GIC Private Limited returned a 5-year return of 6.6% ended March 31, 2018. At March 2018, GIC had increased cash and nominal bonds up 2% to 37% of the total portfolio, while lowering exposure to developed market equities from 27% to 23%.

GIC CEO Lim Chow Kiat commented in his annual letter in the FY 2017-2018 report that, “In view of the high asset valuations, the increased risk of monetary policy tightening across different jurisdictions and the elevated uncertainty, we maintain a cautious investment stance. Nevertheless, we remain ready to take advantage of potential dislocations. The jump in market volatility experienced in early 2018 offered an indication of potentially bigger market turbulence and opportunities in the future.”

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