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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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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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