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RCIF Leads Investors into Sovcombank

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The Russia-China Investment Fund (RCIF) was formed by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC). The RCIF, along with a group of Middle Eastern investors, acquired a minority stake in PJSC Sovcombank, one of the five largest private banks in the Russian Federation in terms of assets.

Sovcombank is planning to expand operations within the country and hopes to have an initial public offering in three years. Sovcombank was originally known as Buoykombank back in November 1, 1990 when it incorporated in the village of Buoy in the Kostroma region. In 2002, Sergey and Dmitry Khotimsky and Mikhail Klyukin acquired 100% shares in Buoykombank LLC and renamed it into Sovcombank in 2003. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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