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SWFI First Read, August 30, 2017

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Robeco Stacks Martin Nijkamp as Strategic Hire

Martin Nijkamp was hired on as Head of Strategic Product and Business Development at Robeco. Nijkamp is being tasked to enhance the asset manager’s product range. Nijkamp was last Head of Strategic Business Development and Integrated Client Solutions at NN Investment Partners. Hester Borrie ended up taking the duties of Nijkamp at NN Investment Partners.

Christine Kelleher to Head Investments at National Gallery of Art

Christine Kelleher was hired as Chief of Investments of the National Gallery of Art in Washington, D.C., effective September 5, 2017. She will manage the US$ 875 million museum endowment. Previously, Kelleher was Managing Director at New York-based Avec Capital, a private equity placement firm. Before that role, she was a Senior Investment Officer at the endowment unit at Georgetown University.

SoftBank Participates in Series C Round in Appier

Former in 2012, Taipei-based Appier is an artificial intelligence (AI) company. Appier raised a Series C round of US$ 33 million from investors such as Japan-based SoftBank Group, LINE Corporation, NAVER Corporation, Singapore-based EDBI and Hong Kong-based AMTD Group. Appier’s first product is called the CrossX Programmatic Platform.

Central Bank of Russia Steps in to Save Bank Otkritie

The Central Bank of Russia moved quickly to take control of Bank Otkritie FC, a troubled Russian private bank lender. This central bank seizure occurred after more than 25% of Otkritie’s deposits left the bank over a period of months stemmed from a surprised ratings downgrade. Roughly US$ 7.4 billion worth of deposits in Otkritie exited in June 2017 and July 2017.

Equity shareholders and possibly subordinated debt shareholders of Otkritie could see their share ownership shrink to a maximum of 25% as the central bank takes control of the troubled lender.

PT Intiland Development and GIC Enter JV to Own and Develop Fifty Seven Promenade

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Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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