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Singapore’s GIC, Jefferies Group, and LoanCore Capital Form JV Real Estate Finance Company

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According to the press release, “Jefferies Group, Inc. and the Government of Singapore Investment Corporation (GIC) announced today that, through affiliates, they and LoanCore LLC, led by Mark Finerman, have formed Jefferies LoanCore LLC, a new joint venture commercial real estate finance company with $600 million in initial equity commitments that will be leveraged appropriately. Jefferies LoanCore will originate commercial real estate debt through a team of professionals led by Mr. Finerman, with the support of the broad real estate, investment banking and securitization capabilities of Jefferies, and the deep real estate and mortgage investment expertise of GIC Real Estate, the real estate investment arm of GIC.

“We are very excited to partner with GIC Real Estate to launch Jefferies LoanCore LLC, which further expands Jefferies’ investment banking and trading franchise by offering commercial real estate investors further access to capital,” said Richard B. Handler, Chairman and Chief Executive Officer of Jefferies Group. “Mark Finerman has an outstanding track record as a leader in the commercial real estate finance sector, and we are pleased to be working with Mark and his talented team.”

“We welcome the opportunity to establish a long-term partnership with Jefferies Group in commercial real estate finance,” said Dr. Seek Ngee Huat, President of GIC Real Estate. “We have worked successfully with Mark Finerman for several years and look forward to expanding our relationship with this further commitment.”

“Jefferies LoanCore expects to respond to the capital needs of commercial real estate owners and investors across the United States,” said Mr. Finerman, CEO of Jefferies LoanCore. “As our industry recovers from the disruption of the recent financial crisis, we expect Jefferies LoanCore to be a leader in providing creative capital solutions.””

Source: Press Release

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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