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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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SWFI First Read, September 21, 2018

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U.S. Public Becomes More Aware that Gmail Scans Emails

Alphabet is a major stock holding for sovereign wealth funds and large pensions. Search giant Google is under fire for allowing third-party partners and companies, like Return Path Inc and other advertisers, to share data from Gmail accounts. Many experts and tech observers already knew this, but more people in the public are becoming aware of Google’s practices when it comes to privacy. Google disclosed in a letter to U.S. lawmakers this finding. The Wall Street Journal reported that in some instances, app companies were able to read people’s emails in order to improve their algorithms. In 2017, Google said they would stop scanning all of one’s Gmail messages for the goal of personalized ads.

GPIF Infrastructure Exposure Almost Reached 200 Billion Yen in March 2018

Japan Government Pension Investment Fund’s (GPIF) exposure to infrastructure real estate was 196.8 billion JPY at the end of March 2018. At that period, 57% of the exposure was to the UK, 15% was to Australia, 15% to Sweden, 10% to Spain and 3% to Finland. 21% of GPIF’s infrastructure portfolio was linked to airports versus 27% to ports.

AIMCo-backed sPower Closes $498.7 Million Bond Deal

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Iceland Contemplates a Sovereign Wealth Fund

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The Government of Iceland is looking to possibly form a sovereign wealth fund to stabilize the country from unforeseen shocks to the national economy. The Iceland government released a statement saying, “The state’s contributions to the Fund will be equivalent to new revenues from publicly owned power production companies which are expected to accrue in the coming years.”

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CBRE Global Wins First GPIF Global Real Estate Mandate

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Japan Government Pension Investment Fund (GPIF) awarded its first global real estate mandate by hiring CBRE Global Investment Partners Limited. This is a global core real estate fund-of-funds separate account. Overseeing this mandate as a gatekeeper is Asset Management One Co., Ltd., which is a unit of Mizuho Financial Group. This RFP was launched in April 2017.

CBRE Global Investment Partners is the multi-manager arm of CBRE Global Investors.

In addition, on August 8, 2018, GPIF hired two custodians for short-term investments. These custodians are Trust & Custody Services Bank, Ltd and The Master Trust Bank of Japan, Ltd.

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