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RDIF and Baring Vostok PE Fund Invest in Tigers Realm Coal Limited

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On December 12, 2013, the Russian Direct Investment Fund (RDIF) and Baring Vostok Private Equity Fund V (BVPEF V) jointly invested US$ 48 million into newly issued shares of Tigers Realm Coal Limited. The RDIF is investing a total of US$ 15 million, while the private equity fund through BV Mining Holding Limited is investing US$ 33 million. After the deal, the RDIF will own 11% of Tigers Realm Coal.

Russian-based Tigers Realm Coal is a coking coal mining company that is listed on the Australian Stock Exchange. In addition, Tigers Realm Coal owns 80% of the Amaam Coking Coal Project located in the frigid Chukotka Province in Russia’s Far East. The Chukotka project entails two exploration licenses called Amaam and Amaam North.

The capital raise is targeted toward increased development of two attractive coking coal deposits in the Chukotka Province.

Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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