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SWFI First Read, December 19, 2016

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Former Och-Ziff Executive Gets Fresh Start at AMG

Hugh Cutler was named the Global Head of Distribution for Affiliated Managers Group (AMG). He replaces Andrew Dyson who exited AMG to become Chief Executive Officer of Quantitative Management Associates. Cutler will officially join AMG in March 1, 2017 and be based in London. Cutler was a Managing Director at Och-Ziff Capital Management Group.

Swiss National Bank Augments Currency Reserve Positions

The Swiss National Bank (SNB) revealed that its Bank Council had approved moving 4.6 billion CHF (US$ 4.49 billion) to 2016 currency reserve provisions. The SNB in a statement said that, “the annual allocation will continue to be determined on the basis of double the average nominal economic growth rate over the previous five years. However, a minimum annual allocation of 8 percent of the provisions will now also apply.”

Qatar Banks Contemplate Possible Merger

More Gulf banks are looking to merge in order to save on costs and create synergies. Masraf Al Rayan, the International Bank of Qatar and Barwa Bank have initiated discussions regarding a potential merger. Masraf Al Rayan and Barwa Bank are Islamic finance institutions. Qatar Holding, a sovereign wealth enterprise (SWE) of the Qatar Investment Authority, is the largest shareholder in Masraf Al Rayan.

KWAP Acquires Menara AIA Cap Square

Kumpulan Wang Persaraan (KWAP) purchased the 41-storey Menara AIA Cap Square from Germany’s Union Investment Real Estate GmbH. Menara AIA Cap Square is located in Kuala Lumpur. JLL Malaysia, part of Jones Lang LaSalle (JLL), was the financial advisor for Union Investment Real Estate GmbH.

BVK and Universal-Investment Acquire Irish Retail Property

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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