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New Zealand Superannuation Fund Purchases 35% Stake in Datacom



The press release states, “The New Zealand Superannuation Fund has reached a conditional agreement to purchase New Zealand Post’s 35% stake in technology services company Datacom for $142 million. GM Investments Matt Whineray said Datacom was a New Zealand success story with further growth potential both locally and overseas.

“Datacom’s conservative balance sheet and long-term investment focus are well suited to the Fund’s approach as a long-term, growth-oriented investor,” Mr Whineray said.

“We have also been impressed by Datacom’s strong management team, deep, long-term customer relationships and track record of earnings growth.”

Mr Whineray said a wide range of investment options were open to the Fund. “It’s pleasing to be able to secure a sizeable New Zealand investment that stacks up against the best in the world.”

“We look forward to working with Datacom’s major shareholder, the Holdsworth family, to continue Datacom’s success.”

The $20 billion New Zealand Superannuation Fund, which was established to help pre-fund universal superannuation entitlements, has returned 7.6% p.a. since inception in 2003. The Fund has $3.7 billion of its investments in New Zealand, up from $2.4 billion as at 30 June 2009.*

Recent New Zealand investments include a 50% share of Z Energy, a one-third share in Scales Corporation and a $110 million portfolio of rural dairy farms.

The Fund will manage its shareholding in Datacom, a privately-held company with 4,000 staff and sales of more than $785 million annually, in-house.

The agreement is expected to become unconditional in early 2013.”

Read more: New Zealand Superannuation Fund Press Release

DP World and NIIF Joint Venture Embarks on First Investment



Hindustan Infralog Private Limited, the US$ 3 billion joint venture formed in January 2018 between DP World and the National Investment and Infrastructure Fund (NIIF) to invest in ports, logistics and warehousing, agreed to acquire 90% of Continental Warehousing Corporation (Nhava Seva) Limited for US$ 400 million. 10% is being retained by the company’s founders – the Reddy family. Adi Keshav Reddy is the founder of Continental Warehousing. This is the first investment of the Hindustan Infralog platform.

The sellers include Warburg Pincus India Pvt Ltd, International Finance Corporation (IFC) and Aureos Capital, a joint venture between the CDC and Norfund that was acquired by Abraaj Capital.

Barclays, Citi and Detusche Bank advised on the transaction.

Continental Warehousing was formed in 1997 and is one of India’s biggest container warehousing firms – operating container freight stations and private freight terminals across India. In April 2011, Warburg Pincus invested in Continental Warehousing, committing US$ 100 million. In December 2015, IFC invested US$ 25 million in equity and lent US$ 35 million in debt to Continental Warehousing.

In India, DP World has been operating container port terminals since 1997.

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SWFI First Read, March 18, 2018



Surbana Jurong and China Vanke Tie up Deal for Industrial Town Projects

Surbana Jurong, a real estate development company focused on urban projects, inked a deal with China Vanke to partner on new industrial towns in China’s midwest regions. Surbana Jurong is majority-owned by Singapore’s Temasek Holdings. The first joint project is Vanke’s Jianzhou Dream Town in Chengdu. Surbana will provide the design for this project.

PIF Eyes Hollywood Talent

Saudi Arabia’s Public Investment Fund (PIF) is looking at investing around a 7% stake in Endeavor, LLC, a talent agency holding entity of WME for a reported US$ 400 million. Ari Emanuel is the CEO of Endeavor. PIF’s financial advisor for this deal is Michael Klein & Co. Endeavor is being advised by Ares Holdings.

Alex Wilmot-Sitwell of BAML Resigns

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Mubadala Invests in No Fly Zone Drone Radar Company



Data Collective led a US$ 15 million Series A round into Salt Lake City-based Fortem Technologies, Inc., a company that works on solutions that can detect, identify and classify drones in real time to maintain airspace safety. Other investors in the round include Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

Ibrahim Ajami, Head of Mubadala Ventures said in the press release, ” Mubadala is excited to work with Fortem and its outstanding leadership team to help grow its business to new markets.”

Ajami added, “We strongly believe the TrueView radar is essential to maintain a safe airspace for both the aircraft and the critical infrastructure on the ground.”

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