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Saudi Arabian Sovereign Fund Invests $3.5 Billion into Uber

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Uber Screenshot - Taken on June 1, 2016 - Riyadh Page

Uber Screenshot – Taken on June 1, 2016 – Riyadh Page

The larger technology companies like Snapchat have raised capital from sovereign wealth fund investors, while smaller technology companies struggle. Saudi Arabia’s Public Investment Fund (PIF) embarked on a milestone step in its bid to become a global institutional investor. PIF invested a whopping US$ 3.5 billion in taxi app service Uber Technologies Inc. This deal is a throwback to the days of sovereign wealth funds making sizable investments into companies versus real estate. This transaction ranks in the top #50 of sovereign wealth fund direct investments, according to data from the Sovereign Wealth Fund Transaction Database.

View Institutional Investor Profile of PIF

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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