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New Zealand Superannuation Fund Invests in Company That Uses Gas-Eating Microbes

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Increasingly, sovereign wealth funds are partaking in growth and expansion investments. The New Zealand Superannuation Fund (NZSF) has invested US$ 60 million in equity in Skokie-based LanzaTech, a gas fermentation company. The company was founded in New Zealand in 2005 with just one employee. The company migrated its headquarters to the United States. LanzaTech converts waste gas from steel mills into ethanol and other fuels and chemicals. LanzaTech’s first commercial plant is set to operate in 2016. The firm is protected by 100 granted patents. LanzaTech touts investors such as Khosla Ventures (the largest shareholder), Sir Stephen Tindall’s K1W1 fund, Qiming Venture Partners, Malaysian Life Sciences Capital Fund, Petronas, Mitsui, Siemens and China International Capital Corporation.

“LanzaTech is one of the most exciting companies New Zealand has produced, with significant global potential,” said Nigel Gormly, NZ Super Fund Head of International Direct Investment in a press release. “We’re proud to continue the New Zealand connection and to be able to assist in LanzaTech’s ongoing growth.”

NZSF has invested in a slew of expansion type of investments which include Ogin Inc. and Bloom Energy.

Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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