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PSP Investments to Become Partner in Kaingaroa Forest

The press release states, “The Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has recently entered into an agreement to purchase a 30% participation in the Kaingaroa Forest from Harvard Management Company, the endowment fund of Harvard University. Harvard will retain a 28.75% stake in Kaingaroa Forest after completion of the transaction, which remains subject to regulatory approval and other customary closing conditions.

As part of the transaction, the New Zealand Superannuation Fund has also agreed to purchase an additional 1.25% stake, taking its total shareholding to 41.25%.

The 178,000 hectare forest estate, located in the central North Island of New Zealand, is widely recognised as one of the world’s premier softwood plantations. Operational forest management will continue to be provided by Rotorua-based Timberlands Limited.

The partners in Kaingaroa own the harvesting rights to the plantation with most of the underlying land owned by local Iwi.”

Read more: New Zealand Superannuation Fund Press Release

CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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