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Robert Greene Appointed Chairman of Virginia Retirement System

Robert L. Greene has been appointed Chairman of the Virginia Retirement System (VRS) by Virginia Governor Terry McAuliffe. Greene has served as a VRS board of trustee and vice chair for a number of years. He replaces Diana Cantor as chairman of the board. Greene is President and CEO of the National Association of Investment Companies (NAIC). NAIC is a trade association of diverse-owned and emerging managers. Greene served as Director of Private Equity with Arthur Andersen Transaction Advisory Services, where he advised private equity firms on a variety of venture capital and leveraged buyout (LBO) transactions.

Institutional Investor Profile of the Virginia Retirement System

As of February 2015, the Richmond-based retirement system has US$ 67.2 billion in assets under management. VRS generated a 15.7% net return on its investment portfolio for fiscal year 2014.

Greene also serves on the event advisory board of the SWFI.

SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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