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Occidental Petroleum and Mubadala Sign Development and Production Sharing Agreement for the Bahrain Field Development

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The press release states, “Occidental Petroleum Corporation and Mubadala Development Company (Mubadala), through its business unit Mubadala Oil & Gas, announced today that they have signed a Development and Production Sharing Agreement (DPSA) with the National Oil and Gas Authority of Bahrain (NOGA) for the further development of the Bahrain Field. Under this agreement, a Joint Operating Company will be formed to serve as operator for the project under the DPSA.

Oxy will hold a 48-percent interest in the DPSA, with Mubadala holding a 32-percent interest and a subsidiary of NOGA holding the remaining 20 percent.

‘We are pleased to expand upon our existing relationship with Abu Dhabi and look forward to working with Bahrain on this exciting project,’ said Dr. Ray R. Irani, Chairman and Chief Executive Officer of Occidental. ‘Signing this DPSA is another important step in the implementation of our growth strategy in the Middle East, and the further development of the Bahrain Field will create significant value for the people of Bahrain and for our shareholders.'”

read more: Press Release

Digital Media Marketer Turned Urban Farmer Raises Series B from Google

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Singapore’s Temasek Holdings continues to plow money into agriculture and agtech investments. New York-based Bowery raised US$ 90 million in a Series B round that was led by GV (formerly Google Ventures). Other investors in the Series B round include Temasek, GGV Capital, General Catalyst, First Round Capital, Uber CEO Dara Khosrowshahi, and David Barber’s fund Almanac. Is this a technology company growing something real and edible? Yes.

Bowery started in October 2014 and raised US$ 117.5 million since its creation. Bowery raised US$ 20 million in a Series A round in January 2017. Bowery was co-founded by Irving Fain. Fain is a former executive of iHeartMedia, who specializes in digital marketing. He is also a co-founder of CrowdTwist, Inc., a digital marketing analytic startup.

The company uses its own internal operating system to monitor plants and optimize their growth without using pesticides. Bowery claims it uses 95% less water compared to mainstream farming methods. Bowery sells its produce, such as mustard greens, kale mix, and romaine, to places like fast causal chain Sweetgreen, Whole Foods, Dig Inn, and Foragers. Bowery opened its first farm in February 2017.

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Goldman Sachs Buys Weyerhaeuser Spin Off AM Unit from Lindsay Goldberg

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Increasingly, Goldman Sachs is buying up small alternative asset management groups across the United States. Goldman Sachs Asset Management (GSAM) is part of Goldman Sachs Group. GSAM inked a deal to purchase Aptitude Investment Management LP, a hedge fund-of-funds manager, from Lindsay Goldberg & Bessemer II AIV LP, a vehicle managed by Lindsay Goldberg. Aptitude Investment Management oversees around US$ 3.5 billion in discretionary assets. Aptitude Investment Management operates out of Seattle and Vancouver, British Columbia.

Before the creation of an in-house unit at Weyerhauser, Morgan Stanley was the sole investment manager of Weyerhauser’s retirement assets. Salim Shariff, formerly of Morgan Stanley Alternative Investment Partners, and Jeff Klein were hired as CIO and Deputy CIO of Weyerhaeuser Asset Management LLC in 2004. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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GIC Gets Exposure to Exchange Tower through Primewest Vehicle

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Singapore’s GIC Private Limited funded a deal through a fund to acquire the Exchange Tower in Perth. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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