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SWFI First Read, February 7, 2018

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Sovereign Funds Continue to Commit to Carlyle Funds

In a fourth quarter 2017 conference call taken place on February 8, 2018, an executive at the Carlyle Group revealed that global sovereign wealth funds “just continue to take a larger share of overall commitments.” This is in context of Carlyle funds. The executive added seeing strength in fund commitments from its private client base as well.

HSBC Global Asset Management Appoints Head of Passive Fixed Income

Sebastien Faucher was appointed Head of Passive Fixed Income at HSBC Global Asset Management. This is a new position created due to client demand. Before this appointment, Faucher was Head of Index Fixed Income at at Legal & General Investment Management.

Saudi PIF Keeps Commitment to Russia

Saudi Arabia’s Public Investment Fund (PIF) allocated a US$ 10 billion commitment to invest in Russia. Already, US$ 1 billion of the allocated capital for Russia has been invested.

DOE Forecasts U.S. Exporting More Energy than Importing by 2022

According to the Energy Information Administration in its Annual Energy Outlook, which is under the U.S. Department of Energy (DOE), the United States is on track to export more energy products versus imports by 2022. If DOE’s forecast turns out to be true in 2022, it will be the first year U.S. energy exports beat imports since 1953.

Ilmarinen’s Unlisted Equities Posts Large Returns for 2017

Finnish institutional investor giant Ilmarinen posted a 7.2% return in its investment portfolio for 2017, while the asset class of unlisted equities generated a 26.8% return. The effects of Ilmarinen’s merger with Etera were realized at the start of 2018.

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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