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SWFI First Read, April 27, 2018

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Image Credit: KBS, April 27, 2018

A Historic Moment

North Korean leader Kim Jong Un crossed the border into South Korea and in a landmark meeting met with South Korean President Moon Jae-in. Then, Moon Jae-in and Kim Jong Un signed an agreement pledging to end the Korean War. Both sides publicly agreed to denuclearisation of the peninsula. These moves were conducted by back channeling from the U.S. and China. U.S. President Donald Trump when coming into office practiced an unorthodox approach to North Korean relations (different from the last Democrat and Republican administrations), but his tactics brought together a move for both sides to end the Korean War.

South Korea is home to large amounts of institutional capital, including the Korea Investment Corporation (KIC).

More to follow…….

Innovent Biologics Raises Series E Round

Innovent Biologics, Inc. raised US$ 150 million in a Series E round. Leading the round was U.S.-based Capital Group Companies. Nick Chen, a Partner of Capital Group Private Markets, the PE unit of Capital Group, joined the board of directors of Innovent. New investors including Cormorant Asset Management, Rock Springs Capital and Ally Bridge Group as well as the existing investors such as Singapore’s Temasek Holdings, Hillhouse, Legend Capital, Lilly Asia Venture and Taikang Insurance participated in this round.

After Long Search, Brunel Pension Partnership Awards Large Passive Mandate to LGIM

The massive Brunel Pension Partnership awarded Legal & General Investment Management, a passive equity mandate worth more than £4 billion – almost 14% of the partnership’s assets.

More Money Flows up North, Chinese Capital Funds Arctic Green Energy

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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