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SWFI First Read, February 2, 2017

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QIA Sells Some Shares in Agricultural Bank of China

According to Hong Kong filings, Qatar Investment Authority (QIA) sold 3.84 million H shares of Agricultural Bank of China Ltd. The shares were sold at an average price of HK$ 3.26 per share on January 27, 2017. Post-transaction, the QIA owns a 11.99% stake in the Agricultural Bank of China from its previous 12% ownership stake.

OFFICIAL: CalSTRS Lowers Assumed Annual Rate of Return from 7.5% to 7%

The California State Teachers’ Retirement System (CalSTRS) now has a lower assumed rate of return. The pension’s board approved to lower its assumed annual return from 7.5% to 7% over a two-year period. 7.25% would start on July 1, 2017 and 7% would start on July 1, 2018.

Hamilton Lane Files for IPO

Bala Cynwyd-based Hamilton Lane, an alternative investment management firm, filed documents to prepare for its initial public offering (IPO) of up to US$ 200 million. Hamilton Lane touts to have four of the ten largest sovereign funds as clients. Hamilton Lane plans to trade under the ticker “HLNE”. J.P. Morgan and Morgan Stanley will act as joint bookrunning managers for IPO. Goldman Sachs will act as lead co-manager and Keefe, Bruyette & Woods and Wells Fargo Securities will act as co-managers.

CPPIB Apparently Looking to Sell Arqiva

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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