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SWFI First Read, February 27, 2017

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Chinese Insurer AIA Looks to SE Asia

Chinese mega insurer AIA Group Ltd seeks to grow its overseas investments and insurance business in emerging markets. AIA is increasing its investment presence in Singapore, by moving some team members from Hong Kong to Singapore. AIA also formed a new subsidiary in Singapore. The Southeast Asian countries of Singapore, Malaysia and Thailand have been major markets for foreign insurers as insurance penetration remains lower compared to other North Asian markets. In fact, AIA is battling Manulife Financial Corporation in a bid for the life insurance operations business of Siam Commercial Bank Pcl which is called SCB Life Assurance Pcl.

Dimensional Fund Advisors Starts Succession Path

David Booth is stepping down as Co-CEO of Dimensional Fund Advisors and is being replaced by Dave Butler. Butler is joining Eduardo Repetto as co-CEO of the firm. Butler will also join Dimensional’s board of directors. Booth will continue to be executive chairman of the company. David Booth and Rex Sinquefield founded Dimensional in 1981 with the idea of using academic theories in real world applications. Dimensional has around US$ 460 billion in assets under management.

Qatar Petroleum Merges Petrochemical Operations to Save Money

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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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