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SWFI First Read, February 7, 2017

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CITIC Capital Partners Raises Third Japanese Buyout Fund

CITIC Capital Partners Limited, the private equity arm of CITIC Capital Holdings Limited, closed its third Japan buyout fund called CITIC Capital Japan Partners III. The fund had a hard cap of 30 billion JPY, attracting both Japanese and non-Japanese investors. The investor base included a sovereign fund, a pension, financial institutions and fund-of-funds. CITIC Capital Partners launched their first Japan buyout fund in 2004. CITIC Capital Japan Partners III embarked on its inaugural investment in MARK STYLER Co., Ltd., a young women’s apparel company that operates over 170 direct stores across Japan. In addition, the fund acquired Akakura Co., Ltd., a women’s footwear retailing company.

San Francisco State University Foundation Hires Cambridge Associates for OCIO

San Francisco State University Foundation, which has US$ 65 million in assets, hired Cambridge Associates to provide outsourced chief investment officer (CIO) services. Cambridge Associates will start their OCIO duties on March 1, 2017.

Stonepeak Infrastructure Partners to Buy Majority Interest in Cologix

On February 2, 2017, Stonepeak Infrastructure Partners signed a deal to acquire a majority interest in Cologix, a data center company with operations in the United States and Canada. The existing Cologix investors, including Grant van Rooyen, the van Rooyen Group, Cologix company management, Columbia Capital and Greenspring Associates will continue to hold a material interest in Cologix moving forward and has the option to participate in future growth equity investments.

Qatar Holding Slates Capital for Indian Affordable Housing

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Scatec Solar Places Big Solar Bet in Bangladesh

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Oslo-based Scatec Solar ASA, a publicly-traded independent power producer operating in the emerging market solar development space, plans to construct and own a 800 mega watt photovoltaic solar power plant in Chandpur, Bangladesh. Scatec Solar has solar assets scattered across numerous emerging markets such as South Africa, Rwanda, Honduras, Egypt, Jordan and the Czech Republic.

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APFC Sells $1.4 Billion Stake in Simpson Housing

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The Alaska Permanent Fund Corporation (APFC) embarked on a major shift in its real estate portfolio by selling a 50% ownership stake in Denver-based Simpson Housing LLLP for US$ 1.4 billion. Simpson Housing had made up roughly 24.7% of APFC’s US$ 5.6 billion real estate portfolio. The other owner of Simpson Housing is that State of Michigan Retirement Systems.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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ISIF Invests in Cybersecurity Firm Vectra

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The Ireland Strategic Investment Fund (ISIF) committed €10 million to Vectra Networks, Inc., a San Jose, U.S.-based cybersecurity company. The investment capital will assist Vectra in creating a research and development center in Dublin.

ISIF is part of a larger funding round of €30 million. These other investors include Khosla Ventures, Accel Partners, DAG Ventures, AI Ventures, AME Cloud Ventures and Wipro Ventures.

Kevin Dillon, who is the former Head of Microsoft Ireland and a Managing Partner at Atlantic Bridge, will join the board of directors at Vectra.

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