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Saudi Sovereign Wealth Positions to Acquire 10% Stake in Developer ACWA

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Saudi Arabia’s Public Investment Fund (PIF) is reportedly close to inking a deal with ACWA Power International for a 10% stake in the Riyadh-based power developer. The sovereign wealth fund hired HSBC in November to advise it on the potential purchase. ACWA is currently in the midst of preparing for a debut on the Tadawul exchange that could raise more than US$ 1 billion through the sale of 30% of shares investors. It remains unclear what kind of valuation ACWA could receive from the prospective deal with the PIF, which has owned 13.7% of the company indirectly through locally-focused subsidiary Sanabil Investments since 2013. ACWA was once known as the Arabian Company for Water and Power Development.

ACWA PPA Deal

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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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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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