SWFI First Read, August 8, 2017

EDBI Participates in iflix Investment Round

Kuala Lumpur-based iflix Sdn. Berhad, a subscription video service like Netflix, raised US$ 133 million in funding. This round was led by Hearst. Other investors in the round include clients of DBS private bank and EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board. Existing backers of iflix participated as well including Catcha Group, Liberty Global, Jungle Ventures, PLDT Inc., Sky PLC and Evolution Media.

GIC Sells Down Stake in China Jinmao Holdings Group

On August 1, 2017, Singapore’s GIC Private Limited sold 15 million shares of China Jinmao Holdings Group Ltd., a real estate development subsidiary of Sinochem Corporation, at an average price per share of HK$ 3.595. GIC’s ownership in Jinmao Holdings went from 6.05% down to 5.91%.

Varma Mutual Pension Insurance Company Sells a Finnish Apartment Portfolio to Barings Real Estate Advisers

Barings Real Estate Advisers acquired seven Finnish apartment properties from Finland-based Varma Mutual Pension Insurance Company for €43 million. The properties are located in the cities of Tampere, Turku, Espoo and Lahti.

Clean Energy Finance Corporation Lends Capital to Adelaide Student Housing Development

Blue Sky Private Real Estate, part of Blue Sky Alternative Investments Limited, and Goldman Sachs have a joint venture that owns a 428-bed student housing tower in Adelaide, Australia. The JV got a US$ 32 million loan from Clean Energy Finance Corporation to assist in making the building energy-efficient. The student housing property will be managed by Altira Student Living.

Nigeria Sovereign Investment Authority Participates in President Fertilizer Program

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