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SWFI First Read, February 13, 2017

Endeavour Energy Gets Offers

The New South Wales government has received offers for a majority stake in Australian state-owned power grid Endeavour Energy. One investor group is led by Macquarie Group partnering with British Columbia Investment Management Corporation (bcIMC). Another investor group is led by Queensland Investment Corporation (QIC) that includes AMP Capital and Borealis Infrastructure, the infrastructure unit of OMERS. The third group is led by Hastings Funds Management which teamed up with Spark Infrastructure Group, Caisse de dépôt et placement du Québec (CDPQ), Kuwait Investment Authority (KIA) and Abu Dhabi Investment Authority (ADIA).

Arabtec Holding Seeks to Raise Money

Arabtec Holding PJSC, the largest listed construction company in the United Arab Emirates, seeks to raise 1.5 billion AED (US$ 408.3 million) in a rights issue. The biggest shareholder in Arabtec Holding is Aabar Investments which is owned by Mubadala.

Daniel K. Tarullo to Exit Federal Reserve in April 2017

Daniel K. Tarullo, a member of the U.S. Federal Reserve Board of Governors, is resigning, making his official exit in April. Tarullo joined the board back in January 2009. Before this role at the Federal Reserve, Tarullo taught law at Georgetown University Law Center. Tarullo served as Deputy Assistant to the President for Economic Policy and later as Assistant to the President for International Economic Policy under the Bill Clinton Administration.

James Peagam Gets a New Job at J.P. Morgan Asset Management

James Peagam was named head of North American Institutional Asset Management at J.P. Morgan Asset Management. Peagam will remain being in New York and report to George Gatch, CEO of Global Funds and Institutional, J.P. Morgan Asset Management. James Peagam was Head of Global Insurance Solutions at the firm. He joined the firm in 2014 from BlackRock.

James Peagam is replacing John Galateria who left J.P. Morgan Asset Management for a job at Invesco. John Galateria is Head of North American Institutional Sales, Service and Consultant Relations at Invesco.

CBRE Group Buys Business of Capstone Financial Solutions LLC

CBRE Group, Inc. announced that it has acquired the business of Capstone Financial Solutions LLC, a national boutique commercial real estate finance and consulting firm in the U.S. This acquisition enhances CBRE’s debt and structured finance service offering nationally while providing additional client service advantages in the Midwest. Capstone Financial is led by Jon Faulkenberg and Shawn Givens and has offices in Los Angeles, Indianapolis, Tampa, St. Louis, Dallas and Kansas City.

Ruling Party in Romania Contemplates Sovereign Fund

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SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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