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Norway FinMin Says No on Private Equity

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Norway’s Ministry of Finance revealed in its annual white paper that private equity is not a suitable option for Norway Government Pension Fund Global due to its chosen model, among other reasons.

According to the press release from Norway’s Ministry of Finance, “The government has also assessed whether the GFPG should be invested in unlisted equities. This could provide Norges Bank with additional investment opportunities. At the same time, unlisted equity investments would challenge the management model based on transparency, low management costs, and a limited degree of active management. Based on an overall assessment, The Government does not propose to open the GFPG for investments in unlisted equities on a general basis. The current mandate gives Norges Bank an opportunity to invest in unlisted companies whose board has expressed an intention to seek listing in the public space.”

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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State Street to Buy Charles River Systems

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State Street Corporation inked a deal to acquire Charles River Systems, Inc. (Charles River Development), a provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Burlington, Massachusetts-based Charles River Development in an all-cash transaction for US$ 2.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FINMA Announces Rothschild Bank Broke Anti-Money Laundering Rules over 1MDB Fiasco

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The Rothschild Bank AG and one of its units called Rothschild Trust (Schweiz) AG got slapped with serious violations of anti-money laundering in regard to the 1MDB scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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