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SWFI First Read, February 15, 2016

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NIIF May Consolidate Government Infrastructure Company Holdings

The Indian Ministry of Finance is considering moving a number of stakes held in infrastructure institutions into the newly-formed National Investment and Infrastructure Fund (NIIF). The sub fund of the NIIF could hold stakes in companies such as the Rural Electrification Corporation (REC), Power Finance Corporation (PFC) and India Infrastructure Finance Company Ltd (IIFCL).

OMERS PE Sells Marketwired to Nasdaq

OMERS Private Equity has agreed to sell Marketwired L.P., a provider of investor and public relations services, to Nasdaq. Nasdaq has been expanding its presence in the investor relations space. For OMERS, BMO Capital Markets served as financial advisor, and Morrison & Foerster and Stikeman Elliott acted as legal counsel.

Tishman Speyer Acquires The Economist Plaza

Developer and investor Tishman Speyer acquired The Economist Plaza in London for around £132.5 million from the editorial group. The 3-building, mixed-use London complex was built in 1964 and is home to The Economist Group’s editorial headquarters. Following the deal, The Economist Group will lease back their occupied space in the Tower Building’s top four floors for a period of 18 months. The seller hired JLL to find a buyer.

Risk Parity Still Being Adopted by U.S. Pensions

The Virginia Retirement System (VRS) signaled to the investment industry that risk parity is still a relevant strategy in these markets. VRS committed US$ 250 million to a fund managed by Bridgewater Associates called Bridgewater Optimal Portfolio. The allocation will be in the VRS’ strategic opportunities portfolio. VRS witnessed encouraging results in its strategic opportunities portfolio. Another recent allocation to risk parity by a U.S. pension was San Joaquin County Employees’ Retirement Association’s decision to hire PanAgora Asset Management to implement the strategy.

ST Telemedia to Acquire Tata Data Center Business

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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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