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OTPP and PSP Investments Buy Into Santander Renewable Portfolio

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Ontario Teachers’ Pension Plan (OTPP) and the Public Sector Pension Investment Board (PSP Investments) are jointly acquiring a portfolio of renewable energy and infrastructure assets from Banco Santander, S.A. The assets being sold by Santander will be moved to a new company equally owned by: Banco Santander, OTPP and PSP Investments. Marcos Sebares will be CEO of the new entity. The deal is expected to close in the first half of 2015. The value of the assets exceeds US$ 2 billion.

The portfolio consists of wind, solar and water infrastructure assets across seven countries.

Macquarie Capital acted as financial advisor to Santander.

Deutsche Bundesbank to Slowly Add Renminbi into Foreign Reserve Mix

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Deutsche Bundesbank’s executive board made a decision to invest in Chinese renminbi in the summer of 2017 as part of its foreign currency reserves. The German central bank on January 15, 2018, confirmed it will start investing in Chinese renminbi and also consider investing in additional foreign currencies. The move mimics the European Central Bank (ECB), which already considers the Chinese renminbi as a reserve currency. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Bpifrance, CDB and Cathay Capital Launch Third Cross Border Fund

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Bpifrance, China Development Bank Capital Co., Ltd. (CDB Capital) and Cathay Capital agreed to launch Sino French Midcap Fund II. This is the second fund the group is launching after the €500 million Sino French Midcap Fund I from June 27, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Carillion Falls into Compulsory Liquidation

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U.K.-based Carillion plc, a construction and facilities management giant, has fallen into compulsory liquidation on January 15, 2018. In July 2017, the listed company issued a warning on its profits, while its CEO quit at the time. The company warned it was near a breach of debt covenants and was in need of a fresh capital injection. Carillion faced a downturn in new business, while dealing with expensive contract delays. U.K. lenders such as the Royal Bank of Scotland (RBS), Lloyds Banking Group and Barclays are facing the news of having hundreds of millions of pounds default.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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