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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.

Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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