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Singapore Fund Buys Stake in Mumbai Motion Picture Company

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Temasek Holdings (Private) Limited has, through several wholly owned subsidiaries, acquired a 7.38% stake in Mumbai motion picture company, Eros International Plc.

On November 25, the Singaporean sovereign wealth fund Temasek made an SEC filing announcing that it had jointly acquired 1.7 million shares in the movie company on November 13. Eros debuted on the NYSE under the ticker symbol EROS on that same day at US$ 11.10 a share. On opening day the share price touched US$ 11.35 before closing at US$ 10.88. Its price has remained little changed since its IPO, and it closed on November 25 at US$ 11.00.

Eros boasts roughly 2,000 films under its license and 700 for which it owns digital rights. It was founded in 1977, and according to its websites, distributed 230 new films in the past three fiscal years.

Temasek acquired the movie producer and distributor through Fullerton Fund Management Company the investment manager for Temasek’s wholly owned subsidiary Temasek Fullerton Alpha Pte. Ltd.

Fullerton Fund Management declined to comment on the purchase citing company policy. A spokesperson for Temasek, however, confirmed the filing, but declined to comment further stating that Temasek has no direct interest in Eros International and that its subsidiaries “have their own investment mandates and are not directed by [Temasek].”

Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Oman Infrastructure Investment Fund Near Creation

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The Oman State General Reserve Fund is nearing the formation of the Oman Infrastructure Investment Fund. This fund will raise capital from third-party investors to invest in Oman’s infrastructure and in certain areas of technology.

The fund will also invest in areas of technology in healthcare, specifically in medical equipment. The fund will also explore investing in blockchain technologies.

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