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OTPP and KIRKBI Make EUR 500 Million Equity Investment in ISS

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The press release states, “Global long term investors Ontario Teachers’ Pension Plan (Teachers’) and KIRKBI Invest A/S have agreed to invest EUR 500 million (approximately DKK 3,721 million) in ISS, a leading global provider of facility services. The current owners, funds advised by EQT Partners (“EQT”) and GS Capital Partners funds (“GSCP”), are not selling any shares as part of the transaction, and will remain majority owners of ISS.

“The board of directors of ISS is very pleased to welcome such respected and successful long term investors to ISS. This is a testament to the strength and attractiveness of ISS as an investment opportunity. Together with our two majority owners, the board will work closely with the new investors on ISS’ value creation. ISS is on track to significantly deleverage ahead of an IPO within a few years,” said Ole Andersen, Chairman of ISS A/S.

“We have come a long way in our transformation over the last years, and this new investment, is a step further on the journey of making ISS the world’s leading service company for our customers and for our more than 530,000 employees. We believe that ISS is the only company which has the platform from which we can integrate and self-deliver a complete set of facility services across the globe – recently proven by two of the largest contract wins in the history of our Company. This new investment will further strengthen our Company’s commercial and financial position,” said Jeff Gravenhorst, Group CEO of ISS A/S.”

Read more: OTPP Press Release

Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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