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SWFI First Read, April 16, 2017

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Starwood Capital Group to Acquire Forestar Group

Affiliates of Starwood Capital Group inked a deal to buy Austin-based Forestar Group Inc. for US$ 605 million in equity value. Forestar Group is a residential and mixed-use real estate development company – owning around 4,600 acres of real estate across 10 states in the U.S. Forestar Group owns around 11,100 acres of forestland in Georgia. Starwood Capital is buying all the outstanding shares of Forestar Group at US$ 14.25 per share in cash. JMP Securities LLC was the financial advisor for Forestar Group, while Skadden, Arps, Slate, Meagher & Flom LLP was the legal advisor for the target company. Kirkland & Ellis LLP was the legal advisor for Starwood Capital Group.

Kern County Employees’ Retirement Association Terminates Four Managers, Adds Two

The Kern County Employees’ Retirement Association, which is located in Bakersfield, California, awarded two equity mandates. One mandate was given to Stamford, Connecticut-based Sustainable Growth Advisers to oversee US$ 100 million in active global equities strategy. The other mandate was given to San Francisco-based Dodge & Cox to oversee US$ 100 million in active global equities strategy. The California pension investor had terminated two U.S. equity managers which are Fidelity Institutional Asset Management and T. Rowe Price Group. The investor also ended two international equity mandates with J.P. Morgan Asset Management and PanAgora Asset Management.

Former Sachem Head Capital Hedge Funder Joins GIC

Ernesto Cruz had joined Singapore’s GIC Private Limited as a portfolio manager. Previously, he was a partner at New York-based Sachem Head Capital Management LP. Cruz is based in New York. Cruz also had a stint as an Analyst at Highline Capital. Sachem Head Capital was formed in 2013 by Scott Ferguson, a former partner and day-one analyst at Bill Ackman’s Pershing Square Capital Management.

Vendanta Founder Becomes Number 2 Shareholder in Anglo American

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SWFI First Read, April 20, 2018

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Knut Kjær Named to Supervisory Board of APG

APG Asset Management, which oversees Stichting Pensioenfonds ABP, named Knut Kjær as a member of its supervisory board. Kjær is currently Chairman and Partner at FSN Capital Partners, a Nordic private equity firm. He was founding chief executive of Norges Bank Investment Management, which oversees Norway Government Pension Fund Global.

Norway SWF to Vote for More Disclosures on Two Canadian Companies

In a unique move, Norges Bank Investment Management, the manager of Norway Government Pension Fund Global, plans to support a vote in favor on a proposals for climate change reporting for TransCanada Corporation and support a vote in favor of Canada’s Imperial Oil Limited to disclose water-related risks.

Jo Holden Promoted at Mercer to UK CIO

Jo Holden has been named U.K. Chief Investment Officer at investment consulting firm Mercer. She is based in Liverpool and replaces Steven Blackie who exited to be Head of Global Product Strategy for Aviva Investors. Holden has been at Mercer since 2002.

Hyundai Investments Aggregates Korean Capital for 3i European Operational Projects Fund

Hyundai Investments Co. Ltd. raised €180 million from South Korean institutional investors, mostly insurance companies, to commit to 3i European Operational Projects Fund, a PPP fund managed by 3i Group.

Cityhold Office Partnership Grows By Forming a New Property Partnership with EDGE Olympic

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Battea: 2017 Securities Class Action Industry Lookback and Observations

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This article is sponsored by Battea.

Source: Battea

There has been incredible growth in securities and antitrust class action litigations and settlements, particularly as they have unfolded in 2016 and 2017. The number of new cases and settlements from traditional securities litigation to antitrust rate rigging, spread inflation and other forms of collusion are at an all time high and shows no signs of slowing down.

With several multi-billion dollar litigations related to Libor, Euribor and Tibor rates, and spread manipulations, the securities, foreign exchange and antitrust class and collective actions litigation space rose exponentially in 2017.

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Blackstone Reaches US$ 450 Billion in AUM

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The Blackstone Group LP, led by its CEO Stephen A. Schwarzman, grew its assets under management for the first quarter of 2018 up to a smashing record of US$ 449,613,826,000 – a 22% increase from the first quarter of 2017 (only US$ 344,650,797,000 was fee-earning AUM though). For the first quarter of 2018 – asset inflows were US$ 18.2 billion, bringing last-twelve-month inflows to a record US$ 112.2 billion.

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