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State Street Financial Center Gets Some Refinancing, Foreign Investors Participate

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The skyline-piercing, 36-storey State Street Financial Center, located in Boston’s Financial District, is owned by patriarchs of the Brooklyn-based Kestenbaum family through Fortis Property Group, LLC. Fortis Property Group is based in New York and has amassed a real estate empire through a variety of means. In 2003, State Street Financial Center, originally conceived as One Lincoln Street, was built through a group of players including the Gale Company (family-owned real estate company led by Stan Gale), State Teachers’ Retirement System of Ohio (STRS Ohio) and a Morgan Stanley real estate fund. In February 2004, the building was sold 100% to American Financial Realty Trust.

State Street Bank made the building its headquarters, leasing it through its unit SSB Realty, LLC. Later on, law firm K&L Gates LLP became a key tenant in the building.

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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