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See Which Sovereign Wealth Fund Invested in a Former Facebook Office

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Sovereign wealth funds and other foreign institutional investors have plowed capital into London, New York and San Francisco core real estate. Analyzing yield options, institutional property investors are reengaging the suburbs, especially areas with a technology-focus such as Austin, Texas and the Bay Area (California). Conveniently located within the Stanford Research Park, 1050 Page Mill Road, a 285,000 square feet office and warehouse complex, was the location of one of Facebook’s core offices. Facebook subleased the property in 2009 from Beckman Coulter, a medical device manufacturer. Facebook outgrew the property and moved itself into a massive office park in Menlo Park.

Created in the 1950s by Stanford University, the Stanford Research Park is experiencing low vacancy rates due to a renewed technology boom. Companies like VMware and Netflix have helped lower vacancy rates on the Peninsula.

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Johnson Controls Sells Battery Unit to Brookfield and CDPQ

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Brookfield Business Partners L.P. and Caisse de dépôt et placement du Québec (CDPQ), announced that they have reached an agreement whereby Brookfield and CDPQ will acquire 100% of Johnson Controls’ Power Solutions business for in a cash valued transaction valued at approximately US$ 13.2 billion. Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. Closing of the transaction remains subject to customary closing conditions including regulatory approvals. Closing is expected to occur by June 30, 2019. The seller is Johnson Controls International plc. The unit employees roughly 15,000 people.

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MAS Seeks to Commit $5 Billion to Private Equity and Infrastructure Managers

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From U.S. pension funds to asset-heavy sovereign wealth funds, Singapore is calculating that more institutional investor assets globally are being committed to the Asia region. The Monetary Authority of Singapore (MAS), Singapore’s central bank, signaled and planned to commit US$ 5 billion with locally-based fund managers who will invest in private enterprises and infrastructure projects. The beneficiaries of the mandates will be private equity and infrastructure fund managers. MAS is seeking to lure top global asset managers to Singapore and firms that have a significant footprint in Singapore could be eligible for the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ivanhoe Cambridge Acquires Cap Ampere Campus from Natixis

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In one of the largest transactions in the French office sector, Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ), has acquired a 90,000 square meter office-building campus from Natixis, in the Greater Paris area of Saint-Denis Pleyel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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