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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.

PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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