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SWFI First Read, February 10, 2018

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CPPIB Releases 3Q Results

Canada Pension Plan Investment Board (CPPIB) ended its third quarter of fiscal 2018 on December 31, 2017, with net assets of C$ 337.1 billion, compared with C$ 328.2 billion at the end of the previous quarter.

China Life Award Mandate to GLP

China Life and Singapore-based Global Logistic Properties (GLP) formed a China value-add logistics and industrial property fund. The fund has total equity commitments of 10 billion RMB. China Life is the sole investor in the fund. GLP China will manage the fund and contribute seed assets to the venture.

GIC Part of Investor Group Making Bid for ADT Caps

CVC Capital Partners, Brookfield Asset Management and GIC Private Limited formed an investor group to make a final bid for ADT Caps, a South Korean security and alarm company. ADT Caps is owned by The Carlyle Group. The investor group lured Korean institutions to back the financing of the buyout such as KEB Hana Bank, Hana Financial Investment Co. Ltd. and Samsung Securities Co. Ltd. The sale of ADT Caps is being administered by Morgan Stanley.

Aberdeen Standard Investments Launches Global Private Markets Fund

Aberdeen Standard Investments created the Global Private Markets Fund, an open-ended fund that will invest in infrastructure, real estate, private credit and private equity. The fund’s initial investor is a Standard Life pension fund.

ATP Generates 29.5% Return in its Investment Portfolio for 2017

Denmark-based ATP generated a 29.5% on its investment portfolio in 2017. Equity risk factors accounts for 44% of the portfolio.

PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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