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SWFI First Read, April 13, 2018

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Credit Suisse Asset Management Forms Direct and Co-Investments Group

Credit Suisse Asset Management formed a new unit, the directs and co-investments group, to oversee and manage institutional private direct investments. The new unit will be an extension of the unit’s private fund group and be led by Paul Van Hook. Credit Suisse Asset Management’s private fund group deals with primary and secondary private markets investments.

Ellen Tsang Heads Over to State Street Global Advisors for Marketing Role

State Street Global Advisors hired Ellen Tsang as head of marketing for Asia ex-Japan. She comes from Aberdeen Standard Investments, where she served as head of marketing for Asia ex-Japan.

Ontario Teachers’ to Acquire 40% Stake in European Camping Group

The Ontario Teachers’ Pension Plan is purchasing a 40% ownership stake in France-based European Camping Group, a luxury camping company from The Carlyle Group and Paris-based Montefiore. The transaction gives the deal an enterprise value of roughly €700 million. Carlyle Group and Montefiore combined will still hold majority control of the company.

Mubadala Petroleum Signs Production Sharing Contract with Indonesian Government Regarding Andaman I Area

Mubadala Petroleum, a unit of Mubadala Investment Company, signed a production sharing contract with the Indonesian government regarding the Andaman I area. The Andaman I area is located off the coast of North Sumatra. Mubadala has been analyzing these location off of Aceh since 2011. Mubadala has interests in Andaman I PSC and Andaman II PSC. Andaman II is operated by Premier Oil, while Mubadala is an operator on Andaman I.

PSP Investments Invests in BC Office and Industrial Portfolio

On April 9, 2018, PSP Investments partnered with Toronto-based Crestpoint Real Estate Investments Limited Partnership to buy a portfolio of 12 office and industrial buildings located in greater Vancouver and Burnaby. Some buildings include the Head office of Mountain Equipment Co Op located in the False Creek Flats neighborhood of Vancouver.

U.S. House Passes Bill on SIFI Designation Measures

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FIRRMA Bill is a Big Deal for Foreign Asset Owners

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The United States Treasury is analyzing options on further restricting investments into “sensitive” sectors, such as technology and defense, in the United States from Chinese state-owned capital. The U.S. Commerce Department, under the export control regime, banned U.S. companies from selling parts to ZTE Corporation, a Chinese telecommunications manufacturer, for seven years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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AIMCo Posts 10.4% Return in 2017

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The Alberta Investment Management Corporation (AIMCo) posted its performance for the 12-month period trailing December 31, 2017, which saw its overall assets grow by 8.4% – or C$ 8.0 billion (US$ 6.1 billion) – to C$ 103.7 billion (US$ 82.3 billion). This represents returns net-of-fees on its C$ 88.2 billion (US$ 70.3 billion) worth of balanced fund investments in 2017 of 10.4%, against a 9.1% custom benchmark. Established in 2008, AIMCo represents the financial well-being of 32 pension, endowment, government, and specialty funds in the Canadian province of Alberta. This includes the Albert Heritage Fund.

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Mubadala Real Estate Targets JV Developers, Eyeing Local REIT Launch

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Mubadala Investment Company’s property arm is preparing to launch a local real estate investment trust (REIT) by 2020, and is currently in talks with several developers for international joint ventures on a plot-by-plot basis that are expected to be finalized in 2018, according to Ali Eid Al Mheiri, executive director of Mubadala Real Estate and Infrastructure. Ali Eid Al Mheiri is also Vice Chairman of ALDAR Properties PJSC and Chairman of Abu Dhabi Finance Company PJSC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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