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SWFI First Read, December 11, 2016

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Gary Parr Retires from Lazard for Executive Role at Apollo Global Management

Gary W. Parr is leaving his role as Vice Chairman of investment bank Lazard. Parr is joining alternative investment manager Apollo Global Management LLC in January 2017. He will be a senior managing director and co-chairman of Apollo’s management operating committee. Parr joined Lazard in 2003. Apollo Global Management is a Lazard client. Parr has also held executive roles at Morgan Stanley and Wasserstein Perella.

GPT’s Wholesale Office Fund Seeks to Buy ADIA’s Interest in One Eagle Street

The Wholesale Office Fund managed by GPT Group is nearing a deal to fully acquire One Eagle Street in Brisbane. It is one of the largest commercial towers in the city. GPT Group already owns a share of the building and seeks to buyout the Abu Dhabi Investment Authority’s ownership share.

Dubai Investments Seeks Loan for Mirdif Residential Development

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Scatec Solar Places Big Solar Bet in Bangladesh

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Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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