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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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Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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