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Simpson Thacher Takes First for 1H 2017 PI Legal Advisor

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Simpson Thacher & Bartlett LLP (Simpson Thacher) took first place in the public institutional investor transaction database for the first half of 2017 for legal advisors. SWFI’s public investor database tracks direct deals and transactions made by institutional investors such as sovereign wealth funds and public pensions. Simpson Thacher was involved in numerous transactions with public institutional investors including the recapitalization of Pharmaceutical Product Development, LLC with sovereign wealth fund capital from Asia and the Middle East. The law firm was also engaged in the Ascend Learning, LLC transaction. Simpson Thacher pegged six deals, while Kirkland & Ellis LLP wasn’t far behind at 5. For example, Kirkland & Ellis advised the Alberta Investment Management Corporation’s investment in San Antonio-based Howard Midstream Energy Partners’ deal with Oklahoma-based WPX Energy to develop crude oil and natural gas gathering and processing infrastructure in the core of the Delaware Basin.

Tied for third was Skadden, Arps, Slate, Meagher & Flom LLP and Weil, Gotshal & Manges LLP.

Legal Advisor League Table – H1 2017

Position Firm Transactions
1 Simpson Thacher 6
2 Kirkland & Ellis 5
3 Skadden 4
3 Weil Gotshal 4
4 Clifford Chance 3
4 Latham & Watkins 3
4 Torys 3
4 Ropes & Gray 3
4 Sidley Austin 3
4 White & Case 3

Source: Sovereign Wealth Fund Transaction Database, Extracted: July 24, 2017
Data from the report is pulled at a certain time, there may be discrepancies between both sets.

First Half 2017 League Table Page

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

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South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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Ripple Attempts to go the Central Bank Route

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San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Investment Corporation of Dubai Eyes $1 Billion Loan Deal

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The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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