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SWFI First Read, December 6, 2016




BlackRock Hires Former CMO and CCO at Buzzfeed to Lead Marketing Efforts

BlackRock Inc. hired the former Chief Marketing Officer and Chief Creative Officer at Buzzfeed, Frank Cooper, to be the firm’s new global chief marketing officer. Frank Cooper will report to BlackRock CEO Laurence “Larry” Fink. Cooper had stints at PepsiCo Inc., AOL, Warner Bros. and worked as an entertainment lawyer in Los Angeles. He will also join BlackRock’s Global Executive Committee.

OMERS Private Equity Sells Majority Stake in V.Group to Advent International

The Ontario Municipal Employees Retirement System (OMERS) exited out of a majority 51% ownership interest in marine services company V.Group. The buyer is Advent International. OMERS will remain a minority investor in V.Group. Goldman Sachs was the financial advisor for V.Group, while Weil, Gotshal & Manges LLP was the legal advisor for OMERS. Freshfields Bruckhaus Deringer was the legal advisor for Advent International.

OMERS bought V.Group in 2011 for US$ 520 million from Exponent Private Equity.

Hausman Promoted to Lead Strategic Relationships at OTPP

The Ontario Teachers’ Pension Plan (OTPP) promoted Jonathan Hausman to lead the new Global Strategic Relationships department, which is responsible for developing and cultivating mutually beneficial investment relationships around the world. His appointment as Managing Director and Head of Global Strategic Relationships is effective January 1, 2017. Hausman joined OTPP in 2004.

Damian Graham Named CIO at First State Super

Damian Graham has become Chief Investment Officer of Sydney-based First State Super. Graham was the interim CIO at First State Super in August 2016 when Richard Brandweiner exited for London-based LeapFrog Investments, an impact investment firm.

Agaciro Development Fund Prods Along to Target 200 billion RWF by 2020

The Agaciro Development Fund has so far raised about 37.5 billion RWF out of the targeted 200 billion RWF needed by 2020. RWF stands for Rwanda Franc.

Lionhorn Expands McDonald’s Ownership Empire

Lionhorn Pte Ltd, an entity run by Sheik Fahd and Abdulrahman Alireza, acquired the franchise rights for McDonald’s in Singapore and Malaysia from McDonald’s Corporation. McDonald’s migrated ownership interest in 390 restaurants, in which more than 80% were corporate owned to Lionhorn on December 1, 2016. Lionhorn is a franchisee of about 100 McDonald’s restaurants in the western and southern regions of Saudi Arabia.

Accuron Medtech Led Investment Round in Awak Technologies

Singapore-based Awak Technologies Pte. Ltd., a kidney disease treatment pharmaceutical company, raised US$ 11.2 million from investors. The investment round was led by Accuron Medtech, a sovereign wealth enterprise of Temasek Holdings. Other investors in the round include Baxter Healthcare and TP Innovation Holdings, the technology transfer officer for Temasek Polytechnic.

UroMems Gets Investment from Bpifrance

France-based UroMems, a medical device manufacturer raised €14 million in funding. Bpifrance participated in the investment round through its Fonds Acceleration Biotechnologies Sante (Fabs) fund. The capital is being used to finance the development of its artificial urinary sphincter. Goodwin Procter LLP was the legal advisor for UroMems on the capital raise.

Saudi Aramco Contemplates SABIC Stake from PIF



Oil giant Saudi Aramco is in early discussions on whether to pursue an ownership stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF). At the moment, Saudi Aramco has no plans to buy publicly-held shares of SABIC. SABIC was founded in 1976 by Saudi royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers.

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SWFI First Read, July 19, 2018



GIC Eyes Provenance Land

GIC Private Limited is nearing a deal to purchase up to 50% of Provenance Land. Provenance Land owns India’s first Four Seasons hotel.

Eduard van Gelderen Leaves UC Regents for PSP Investments CIO Role

Eduard van Gelderen exited his position as Senior Managing Director at the University of California Regents’ Office of the Chief Investment Officer. His role will not be replaced. He accepted an offer to be Chief Investment Officer of the Public Sector Pension Investment Board (PSP Investments).

PAAMCO Prisma Holdings CEOs to Exit

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Google Fined Big Time by EU Regarding Antitrust Violations



The European Union (EU), through its competition commissioner, levied a €4.34 billion fine against Alphabet Inc., the owner of Google. The fine is over Google having “imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search,” according to the European Commission (EC).

The European Commission is requiring Alphabet to cease from its conduct that it is accused of within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

Commissioner Margrethe Vestager, in charge of competition policy, said in a press release, “Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules.”

The EC press release added, “In particular, Google: 1. has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); 2. made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and 3. has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).”

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