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PensionDanmark to Acquire Gas Pipeline from TAQA

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PensionDanmark A/S is set to acquire a 40% stake in Noordgastransport B.V. (NGT), an entity that owns an offshore pipeline network moving natural gas from North Sea fields for treatment in the Netherlands. State-owned Abu Dhabi National Energy Company PJSC (TAQA) is selling the stake for US$ 240 million. PensionDanmark is keen on building out their internal infrastructure portfolio buying natural gas assets alongside wind farms and biomass facilities.

TAQA acquired the 40% stake in NGT-pipelines, which was packaged with DSM Energie Holding B.V. for US$ 404 million, back in September 2009 from Royal DSM N.V., a global life sciences and materials sciences company.

According to the press release, David Cook, TAQA’s Executive Officer and Head of Oil & Gas, said: “We decided that the investment in the Noordgastransport pipeline no longer fitted with our growth strategy in the Netherlands, which is focused on maximising the value of our portfolio and delivering Gas Storage Bergermeer.”

The transaction is based on EU approval.

Ancala Partners were advisors for PensionDanmark on the deal. Scotiabank acted as sole financial advisor to TAQA.

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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