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SWFI First Read, April 6, 2016

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Societe Generale Seeks to Cut 128 Jobs in Banking and Investor Solutions Division

French bank Societe Generale may cut 128 jobs in its Global Banking & Investor Solutions division, according to the CGT union. The layoffs are part of a cost-saving plan that was announced by Societe Generale in 2015.

Citi Wins Custodial Mandate from Six Securities Services

Citi has won a mandate from Six Securities Services to provide them with custody services for US$ 230 billion in assets. Citi won the mandate from New York-based Brown Brothers Harriman.

KKR Closes Big on Large Special Situations Fund

KKR closed its KKR Special Situations Fund II L.P. by raising US$ 3.35 billion from pensions, sovereign wealth funds, insurance companies, endowments and other investors. The fund is mostly focused on credit-oriented, deep-value investing in distressed or event-driven situations.

CPPIB Discussions Move Forward Regarding Glencore Ag Deal

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Alibaba Invests in Series C in 1919 Wines

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On October 18, 2018, Alibaba Group Holding Limited, through Alibaba (China) Network Technology Co., Ltd, invested some 2,000,000,065.08 RMB (US$ 288,447,000) for 39,277,299 shares in a Series C round into 1919 Wines & Spirits Platform Technology Co., Ltd., a Chinese alcohol beverage e-commerce retailer. Post-deal, Alibaba owns about 29% of the company shares and became the second largest shareholder of 1919 Wines. The transaction values 1919 Wines at 7 billion RMB.

GF Securities Co., Ltd. advised 1919 Wines on the transaction.

Formed in 2010, 1919 Wines is based in Chengdu. 1919 Wines owns retail portals, phone apps, and offline stores.

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Nomura and CIC Contemplate Joint Investment Fund

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Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Holdings Dumps More of Celltrion

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On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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