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SWFI First Read, February 12, 2018

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Temasek Holdings Eyes Data Center Business in Australia

Singapore’s Temasek Holdings is looking at a potential deal in Nextdc Limited, a data center company that is listed in Australia.

Warren Buffett Attempts to Build Insurance Business in the Gulf

Berkshire Hathaway Specialty Insurance Co., the commercial insurance unit of Warren Buffett’s empire, is setting up shop at the Dubai International Financial Centre (DIFC). Berkshire Hathaway Specialty Insurance already has offices in cities such as Singapore, Hong Kong and Macau. The company hired Alessandro Cerase, a former American International Group (AIG) executive, to head its Dubai operations.

Kuwait Sovereign Wealth Eyes Irish Opportunities

Ireland’s Minister of State for the Diaspora and International Development Ciaran Cannon met with officials from the Kuwait Investment Authority (KIA). KIA is looking at opportunities in Ireland whether in real estate or technology.

SALIC Appoints Managing Director

Saudi Agricultural and Livestock Investment Company (SALIC) named Khaled Mohammed al-Aboodi as managing director, effective February 1, 2018. Previously, al-Aboodi was an executive at the Islamic Corporation for the Development of the Private Sector. SALIC is owned by Saudi Arabia’s Public Investment Fund (PIF).

PR Battle over CCCC International’s Takeover of Aecon

Canadian construction company Aecon Group Inc. is fighting a public relations battle over its proposed takeover by CCCC International Holding Limited for C$ 1.5 billion. CCCC International Holding made a bid in late 2017 to acquire Aecon. CCCC International Holding owns John Holland Group, an Australian construction business and Friede & Goldman, a U.S. engineering business. CCCC International is the financing platform for overseas business of China Communications Construction Company Limited.

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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