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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.

Japan’s GPIF Awards Nissay Asset Management with ESG Disclosure Mandate

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Increasingly asset owners across the Asia-Pacific region are studying the impacts of environmental, social, and governance factors on listed companies. As more Japanese pensions augment asset allocation to listed equities, the importance of corporate non-financial disclosures and practices becomes clear. These disclosures can have a material impression on company stock prices. In addition, Japanʼs Stewardship Code and Corporate Governance Code in 2014 and 2015 were launched, respectively. These codes helped the (environmental, social, and governance) ESG concept gain momentum in Japan.

Japan’s Government Pension Investment Fund (GPIF), the largest public pension fund in the world, awarded a research mandate to Nissay Asset Management Corporation. The mandate entails studying ESG disclosures. The study will conduct a comparable analysis on ESG standards and practices, while taking into account input from both investors and companies. With around US$ 110.5 billion in assets under management, Nissay Asset Management is owned by Japanese life insurance giant Nippon Life Insurance Company.

As GPIF boosted its allocation to domestic equities, the asset owner took a deeper look into the impact of ESG on equity investing. GPIF is keen on improving efficiencies in Japan’s capital markets. GPIF is a universal owner of stocks, similar in some aspects to what Norway’s Government Pension Fund Global (GPFG) does.

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Norges Bank Real Estate Management Buys Central Paris Property

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Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (oversees Norway Global Pension Fund Global), has signed an agreement to acquire a 100 percent interest in an office property located on 54-56 rue la Boétie in central Paris.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Schlumberger Gets Closer to Eurasia Drilling Company

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Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and American oilfield services giant Schlumberger (SLB) have planned a deal to invest in Russia’s Eurasia Drilling Company Limited. RDIF CEO Kirill Dmitriev made the announcement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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