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Public Pensions Want Farmland Too

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Agricultural lands in some American states are at near highs due to a rising global demand of food. TIAA-CREF, a U.S. based financial services group, is partnering with European and Canadian institutional investors to create a $2 billion global farmland investing company. Public investors want exposure to agriculture and to the global food chain. The Qatar Investment Authority owns Hassad Food that invests in farmland. The New Zealand Superannuation Fund has a rural land strategy. Investors want to exploit the emerging demand for grains and other agricultural products. Developing countries have changing taste and preferences and increasingly seek protein in their daily lives.

The investment entity will target farmland in Brazil, Australia, and the United States.

The company dubbed TIAA-CREF Global Agriculture LLC will be managed by a TIAA-CREF affiliate. AP2, British Columbia Investment Management Corporation (bcIMC), and Caisse de dépôt et placement du Québec will invest in the agricultural investment vehicle.

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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