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Qatar Holding Invests in 22.22% Stake in CITIC Capital Holdings Limited

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According to the press release, “CITIC Capital Holdings Limited (CITIC Capital) is pleased to announce that Qatar Holding LLC (Qatar Holding) has subscribed for new shares in CITIC Capital, equivalent to 22.22% of the ownership in CITIC Capital. After issuance of the new shares, CITIC Pacific Limited and CITIC International Financial Holdings will jointly hold a 42.78% stake in CITIC Capital; China Investment Corporation another 31.11%; and the management and the trustee of the share scheme of CITIC Capital the remaining 3.89%.

‘We warmly welcome Qatar Holding to be our new shareholder,’ said Yichen ZHANG, Chief Executive Officer of CITIC Capital. ‘Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, its significant backing will strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China. I am confident that the expanded shareholder base will further strengthen our business network and resources, and vitalize us to continue to pursue high standards of governance. We look forward to working closely with Qatar Holding, in addition to our existing shareholders, China Investment Corporation and CITIC Group, who will continue their commitment and strong support to us.'”

Read more: Press Release

Robert Priestley Exits Future Fund and ASX Boards

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Robert Priestley who was a member of Australia’s Future Fund Board of Guardians has resigned. He is the former the Chief Executive Officer of J.P. Morgan Australia and New Zealand (left in May 2017). He also resigned from his director role at ASX Limited. Priestley remains the non-executive chairman of J.P. Morgan Australia and New Zealand.

In a released statement by Priestley, he said, “Given my decision to step aside from the ASX board, I think it is also appropriate that I step aside from the Future Fund board of guardians.”

Australia and New Zealand Banking Group Ltd (ANZ) is in hot water with Australian regulators, facing criminal cartel charges on an ill-fated institutional placement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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SWFI First Read, June 20, 2018

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State Street Launches Real Assets Fund Services Group

State Street Corporation formed a real assets fund services group in anticipation of further growth in world of global infrastructure investing. This newly-formed group will leverage the company’s existing real estate platform.

Cadillac Fairview Unveils Massive Building Project – Slated New HQ for OTPP

Cadillac Fairview is a real estate unit of the Ontario Teachers’ Pension Plan (OTPP). Cadillac Fairview, in a partnership with the Investment Management Corporation of Ontario (IMCO), revealed the construction of a new 46-storey office tower at 160 Front Street West, on the northeast corner of Front Street and Simcoe Street in downtown Toronto. This new building will be the headquarters of OTPP at 160 Front Street. This C$ 800 million development will be one city block from Union Station.

James Edwards Head to BMO Global

James Edwards was hired by BMO Global Asset Management to be director of U.K. sales. Previously, Edwards was a Fixed Income Product Specialist at BlackRock.

Peter Diamond Exits Deutsche Bank

Peter Diamond is exiting as Head of SSA Origination and Structuring at Deutsche Bank – a position he had in London.

Hideharu Ichii Joins AMP Capital

Hideharu Ichii left APG Asset Management Asia to join AMP Capital, effective July 2, 2018. Ichii took the position as a Portfolio Manager on AMP Capital’s global listed equity team in Hong Kong. Ichii was a Senior Portfolio Manager in listed real estate Asia-Pacific region at APG.

Keppel Corporation Sells Stake in Development

Shenyang SUNAC Xinxing Enterprise Management acquired a stake for US$ 43 million in the Keppel Township Development (Shenyang) Co. Ltd. from Keppel Corporation.

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Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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