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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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Mergermarket Gets Ready to be Sold

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Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

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Why Japan Post Sees Promise in Aflac

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Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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RDIF and Development Agency of Serbia Agree to Explore Joint Investments

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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

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