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NTMA and China’s CIC International Sign MoU to Explore Opportunities for CIC in Ireland

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According to the press release, “The National Treasury Management Agency and CIC International, a subsidiary of China Investment Corporation, China’s sovereign wealth fund, have today signed a memorandum of understanding to work together in exploring investment opportunities in Ireland.

The memorandum was signed in the Great Hall of the People in Beijing by Chairman Lou Jiwei on behalf of CIC International and by John Corrigan, Chief Executive, on behalf of the NTMA. Chinese Premier Wen Jiabao and Taoiseach Enda Kenny were present at the ceremony.

The memorandum builds on the existing dialogue between the NTMA and CIC International, and provides a framework for future co-operation in terms of exchanging information and identifying suitable investment or co-investment opportunities for CIC in Ireland.

Speaking today, NTMA Chief Executive John Corrigan said: “This memorandum represents a major initiative for enhanced co-operation and engagement in areas of common interest and we very much look forward to working with CIC International.”

CIC Chairman Lou Jiwei said: “CIC International is a financial investor and seeks stable and sound financial returns over the long run. The memorandum signed today reflects our strong working relationship and shared commitment. It will be of valuable assistance for us in identifying and assessing potential opportunities in Ireland.”

Read more: Press Release

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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