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SWFI First Read, April 25, 2017

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Ex-BlackRock Joseph Linhares to Head EMEA at Russell Investments

Joseph Linhares was named Head of Europe, Middle East and Africa (EMEA) at Russell Investments. He will report to Len Brennan, CEO of Russell Investments. Previously, Linhares was Global Head of Platinum Accounts at BlackRock Inc. Linhares was an early employee of iShares, which was owned by Barclays Global Investors (BGI) before its sale to BlackRock. Linhares was succeeded by Sarah Melvin at BlackRock with regard to the platinum accounts role.

Korea GEPS Names New Chief Investment Officer

The Government Employees Pension Service (GEPS) of South Korea named Chang-hoon Lee as its new chief investment officer. Lee is the former Head of Prudential Financial’s investment unit, Prudential Asset Management Company, in South Korea. He was CEO and CIO at the Prudential Financial unit from 2005 to 2010. Before that, he was a Senior Equity Manager at Samsung Investment Trust Management (now Samsung Asset Management Co. Ltd.).

Lee succeeds Young-gwon Choi who served a three-year CIO term. Choi has moved onto being CEO of HI Asset Management Co. Ltd.

Potential SMRT Deal to Sell Cab Business to Grab

Temasek Holdings owns SMRT, after it was delisted in 2016. SMRT is in discussions to sell its taxi division to Grab. Part of the potential deal includes SMRT getting a stake in Grab. SMRT is currently the third biggest taxi cab company in Singapore, which has been in business for 27 years.

PSP Investments and Partners Group Finalize Cerba Healthcare Deal

On January 22, 2017, Partners Group, acting on behalf of clients, and PSP Investments, agreed to acquire Cerba Healthcare, a European medical laboratory services provider, from PAI Partners. On April 20, 2017, the deal was completed.

Man GLG Hires for Head of Machine Learning

Man GLG hired William Ferreira as head of machine learning. This is a new position. Previously, Ferreira was at Florin Court Capital.

Federated Investors to Make Push into the Asia-Pacific Region

Pennsylvania-based Federated Investors is seeking to expand its business in the Asia-Pacific region. The company appointed Bill Taki as its chief executive officer of Federated Investors Asia Pacific. Previously, Taki worked at Phoenix Global Capital Management. Federated Investors also named Bill Mukai as managing director and head of Asia-Pacific client relationships.

RDIF, Mubadala and Investors Invest in Two Logistic Facilities in Russia

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NSIA Reappoints Stella Ojekwe-Onyejeli and Appoints Aminu Umar-Sadiq as Executive Directors

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On March 9, 2019, the Nigerian President confirmed the appointment of two Executive Directors to the NSIA Board (Nigeria Sovereign Investment Authority). Stella Ojekwe-Onyejeli has been reappointed as Executive Director for a second term. She is also the Chief Operating officer of NSIA. In addition, Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed, for the first time, as Executive Director.

In 2018, the NSIA Board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.

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HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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IFM, Polish Development Fund, PSA Acquire Gdansk Terminal

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The Polish Development Fund, known locally as Polski Fundusz Rozwoju S.A. (PFR), signed a deal to lead an investor group to acquire the largest container terminal in Gdansk from an infrastructure fund managed by Macquarie. The transaction is worth more than 5 billion zlotys (US$ 1.3 billion). DCT Gdansk is the only terminal in Baltic sea region that can serve Ultra Large Container Vessels, also known as UCLVs.

The Polish Development Fund and IFM Investors will each acquire a 30% stake in the Gdansk terminal, while PSA International Pte Ltd (which is owned by Temasek Holdings), will own 40% of the terminal.

Macquarie was advised by Goldman Sachs.

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