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SBI Pharmaceuticals Signs MoU with Mumtalakat Holdings

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photosynleafThe gulf countries are employing a bevy of tactics to draw multinational firms to the region. Strategic development sovereign wealth funds (SDSWF) are keen on creating local opportunities. Dubai, Doha and Manama have pushed the envelope in constructing financial centers to diversify from the petroleum industry. Manama seeks to attract pharmaceutical companies and be a biotech hub for the region.
SBI Pharmaceuticals Co., Ltd., a subsidiary of Japan-based SBI Holdings, entered into a memorandum of understanding (MoU) with Bahrain’s Mumtalakat Holdings. The purpose of the MoU was to explore the possible creation of a pharmaceutical lab in Bahrain, specifically in the area of 5-aminolevulinic acid (5-ALA) products.

5-aminolevulinic acid is an amino acid created in mitochondria.

SBI Pharmaceuticals is in preparations for a clinical study on diabetes by using 5-ALA in areas in Bahrain. Depending on several factors, SBI Pharmaceuticals may create a biotech manufacturing base in Bahrain. In October 2012, SBI Pharmaceuticals opened a representative office in Bahrain.

On the same day, SBI Pharmaceuticals entered into a contract with Dawani Group Holding, a Bahrain-based corporate group, to create a joint venture for selling 5-ALA products in Bahrain

APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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NZ Super Generates 19.8% Return for 2017 Calendar Year

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The New Zealand Superannuation Fund (NZ Super) generated a 19.8% annual return for the 2017 calendar year. The return was calculated after costs and before New Zealand tax. Catherine Savage, Chair of the Guardians of New Zealand Superannuation, commented in a press release that, “We remain focused on identifying attractive active investments in New Zealand, with recent highlights including a $100m investment in New Zealand insurer Fidelity Life.”

Savage concluded, “Returns are likely to normalise and over the long term we expect the Fund will deliver average returns of approximately 8% a year, based on current portfolio settings.”

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