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SWFI First Read, August 8, 2017

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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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PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gathering new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

A Logical Connection

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CDPQ Providers Firepower for Blackstone Buyout of PIRET

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Ivanhoé Cambridge, part of CDPQ, is a co-investor in Blackstone Group’s buyout of Pure Industrial Real Estate Investment Trust (PIRET), a listed Canadian warehouse owner. The actual Blackstone buyer is an affiliate of Blackstone Property Partners, its core real estate investment unit. The agreement was revealed on January 9, 2018. Blackstone moved to buy the REIT) for C$ 8.10 per Unit in an all-cash transaction valued at C$ 3.8 billion including debt. The transaction value without debt is C$2.48 billion.

Deal Advisors

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