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SWFI First Read, February 6, 2018

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Saudi Telecom Signs MoU for Exclusive Broadcast Rights for Soccer

Saudi Telecom, which is majority owned by Saudi Arabia’s Public Investment Fund, signed a Memorandum of Understanding (MoU) with Saudi Arabia’s General Sports Authority to pay 6.6 billion SAR for exclusive rights to broadcast Saudi Arabian professional soccer matches over 10 years. The deal if closed would end the rights for MBC Group, which paid a 10-year broadcast agreement in July 2014 for an estimated 4.1 billion SAR. Saudi businessman Waleed Al-Ibrahim is the owner of MBC Group.

Macquarie Infrastructure and Real Assets to Purchase GLL Real Estate Partners

Macquarie Infrastructure and Real Assets, part of Macquarie, agreed to purchase 100% of GLL Real Estate Partners GmbH, a Munich-based real estate manager, from the company’s founding partners. GLL will still operate as its own brand for the time being. GLL has roughly €7 billion in assets under management and senior management will still run the business.

Sovereign Fund Capital Lines Up for AccorInvest Split

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Japan’s GPIF Awards Nissay Asset Management with ESG Disclosure Mandate

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Increasingly asset owners across the Asia-Pacific region are studying the impacts of environmental, social, and governance factors on listed companies. As more Japanese pensions augment asset allocation to listed equities, the importance of corporate non-financial disclosures and practices becomes clear. These disclosures can have a material impression on company stock prices. In addition, Japanʼs Stewardship Code and Corporate Governance Code in 2014 and 2015 were launched, respectively. These codes helped the (environmental, social, and governance) ESG concept gain momentum in Japan.

Japan’s Government Pension Investment Fund (GPIF), the largest public pension fund in the world, awarded a research mandate to Nissay Asset Management Corporation. The mandate entails studying ESG disclosures. The study will conduct a comparable analysis on ESG standards and practices, while taking into account input from both investors and companies. With around US$ 110.5 billion in assets under management, Nissay Asset Management is owned by Japanese life insurance giant Nippon Life Insurance Company.

As GPIF boosted its allocation to domestic equities, the asset owner took a deeper look into the impact of ESG on equity investing. GPIF is keen on improving efficiencies in Japan’s capital markets. GPIF is a universal owner of stocks, similar in some aspects to what Norway’s Government Pension Fund Global (GPFG) does.

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Norges Bank Real Estate Management Buys Central Paris Property

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Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (oversees Norway Global Pension Fund Global), has signed an agreement to acquire a 100 percent interest in an office property located on 54-56 rue la Boétie in central Paris.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Schlumberger Gets Closer to Eurasia Drilling Company

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Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and American oilfield services giant Schlumberger (SLB) have planned a deal to invest in Russia’s Eurasia Drilling Company Limited. RDIF CEO Kirill Dmitriev made the announcement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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