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OMERS, Japan’s PFA, and Mitsubishi Corp Announce Alliance in Infrastructure Investments

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OMERSAccording to the press release, “OMERS, one of Canada’s largest pension plans, is announcing the first close of the Global Strategic Investment Alliance (GSIA) alongside initial alliance members Pension Fund Association (PFA) and a consortium led by Mitsubishi Corporation (MC), both of Japan.

“We’re very pleased to be partnering with these sophisticated investors in pursuit of high-quality, large infrastructure investments that we can own over the long term. Based upon the feedback in the market, we anticipate welcoming a number of other forward-thinking pension plans and other long-term institutional investors from around the world into the GSIA over the next 12 to 18 months thereby bringing significant additional (ie. billion dollar plus) commitments to the program,” said Jacques Demers, President and CEO of OMERS Strategic Investments.

Initial commitments following first close equal US$7.5 billion, including US$1.25 billion from each of PFA, and MC-led Japan Infrastructure Investment Partners LP, and US$5 billion from OMERS.

The GSIA’s goal is for like-minded, long-term institutional investors in North America, Europe, Asia-Pacific and the Middle East to work together in pursuit of attractive, large-scale infrastructure investment assets mainly in North America and Western Europe.

This innovative “ground-breaking” initiative is led for OMERS by OMERS Strategic Investments, which builds investment platforms and develops direct relationships globally in support of the investment activities of the pension plan.

All GSIA investments will be originated and managed by OMERS’ infrastructure investment arm, Borealis Infrastructure, which is a leading global full service infrastructure investment management company. Administrative support services to the investment program will be provided by Rosewater Global, an OMERS affiliate.”

Read more: Press Release

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

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South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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Ripple Attempts to go the Central Bank Route

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San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Investment Corporation of Dubai Eyes $1 Billion Loan Deal

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The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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