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PSP Investments, Digital Bridge and TIAA Buyout Vantage Data Centers

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According to data from the Sovereign Wealth Fund Institute (SWFI), there has been a tremendous increase over the past three years in public institutional investors directly investing into data centers.

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On March 27, 2017, an investor group made up of Public Sector Pension Investment Board (PSP Investments), TIAA Investments (an affiliate entity of Nuveen), and Boca Raton-based Digital Bridge Holdings LLC acquired Santa Clara-based Vantage Data Centers, a company that owns and operates data centers from private equity firm Silver Lake Partners. TIAA Investments made the investment on behalf of TIAA’s general account. Silver Lake was hoping to fetch an excess of US$ 1 billion including debt for the deal, according to sources.

Digital Bridge Holdings was formed in 2013 by Marc C. Ganzi and Ben Jenkins, raising over US$ 6.5 billion in equity and debt capital to acquire and invest in data centers, towers and fiber/small cells. Ganzi was the Chief Executive Officer and sole Founder of Global Tower Partners. GTP was acquired by American Tower Corporation in October 2013. Ben Jenkins is a former Blackstone Group executive. This deal adds to its portfolio of current portfolio holdings such as Dallas-based DataBank, ExteNet Systems, Vertical Bridge, Andean Tower Partners, and Mexico Tower Partners.

Per deal terms, Mike Foust, Senior Advisor to Digital Bridge and former CEO of Digital Realty will join the Vantage board of directors as Chairman. Also joining the Vantage Data Centers’ board of directors is Raul Martynek of Digital Bridge.

A Former Intel Data Center

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GIC Raises Stake in China Oilfield Services

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On November 14 2018, Singapore’s GIC Private Limited acquired 2,982,000 H- shares in China Oilfield Services Ltd at an average price of HK$ 6.9883. GIC increased its ownership in China Oilfield Services to 9.07% from 8.91%. China Oilfield Services is an oilfield services company. It is a majority owned subsidiary of Chinese state owned company CNOOC Group.

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Carlyle Group Completes Deal on 19.9 Percent Stake in Fortitude Re

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More private equity firms are scooping up reinsurance assets. The Carlyle Group finalized its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re) from American International Group, Inc. (AIG) The transaction was first announced on August 1, 2018. Part of this deal included Fortitude Re inking an investment management agreement (IMA) whereby US$ 6 billion of assets will be committed into a variety of Carlyle investment strategies.

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RDIF, Indorama Corporation, and Yadran Oil Ink Joint Investment in Tartarstan

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The Russian Direct Investment Fund (RDIF), and Singapore-based Indorama Corporation Pte Ltd, a chemical corporation in Asia, and JSC Yadran-Oil, the company authorized by the Government of the Republic of Tatarstan, have agreed to jointly implement investment projects in Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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