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Sovereign Wealth Fund: Kuwait Investment Authority shows interest in Continental AG: report

According to the Reuters, “The Kuwaiti Investment Authority (KIA) may be considering investing in German auto parts supplier Continental AG, German business weekly WirtschaftsWoche reported on Saturday.

In an article flagged ‘Continental: The auto parts supplier talks to the sovereign wealth fund of the emirate of Kuwait over possible investment,’ the magazine said ‘Kuwaiti investors’ have been in contact with Chief Executive Karl-Thomas Neumann in the past few days.

The investors also held a meeting in Hanover with the premier of Continental’s home state of Lower Saxony, Christian Wulff, to discuss the political feasibility of a possible investment, the weekly said.”

read more: Reuters

CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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