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SWFI First Read, February 16, 2017

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ADIA and CDPQ Eye Autostrade Investment

Autostrade per L’Italia SpA, an Italian toll road operator, has attracted the interest of big asset owners such as the Abu Dhabi Investment Authority (ADIA), Caisse de dépôt et placement du Québec (CDPQ) and Allianz SE. The seller of the 15% stake in Autostrade is Atlantia.

Mubadala Investment Company to Start Operations in May 2017

The newly-merged sovereign fund Mubadala Investment Company will commence operations in May 2016. There will be four main divisions: infrastructure, energy, aerospace and technology.

Sally Staley Retired from Case Western Reserve University

Sally Staley, the Chief Investment Officer of Case Western Reserve University, is retiring effectively February 28, 2017. She had worked at the endowment since 2002, becoming CIO in 2016.

Reliance Defence Signs MoU with Strata Manufacturing

Reliance Defence, a unit of Reliance Infrastructure, is working with the Abu Dhabi-based Mubadala Development Company to collaborate on advanced aerospace manufacturing capabilities. Reliance Defence inked a Memorandum of Understanding (MoU) with Strata Manufacturing PJSC, the advanced composite aerostructures manufacturing company that is owned by Mubadala. The MoU entails that the parties will collaborate on advanced aerospace manufacturing capabilities between India and the United Arab Emirates. The MoU will have both companies analyze opportunities in the production of carbon fibre composites aerostructures, 3D printing of components and prepegs.

Reliance Infrastructure is an Indian private sector enterprise power utility and construction company.

Dallas Police and Fire Pension System Settles with CDK Realty Advisors

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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