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SWFI First Read, January 31, 2018

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Image Credit: White House

U.S. President Trump’s SOTU Mentions U.S. Infrastructure

U.S. President Donald Trump held his first official State of the Union (SOTU) address on January 30, 2018. With regard to infrastructure, President Trump called on U.S. Congress to push through a US$ 1.5 trillion infrastructure plan. Part of the plan includes new laws to reduce the time required to approve building permits down to 1 to 2 years. Other countries such as China have different forms of government where setting up infrastructure has been proven to be faster than in the United States.

President Trump said during the SOTU, “Tonight, I’m calling on Congress to produce a bill that generates at least $1.5 trillion for the new infrastructure investment that our country so desperately needs. Every federal dollar should be leveraged by partnering with state and local governments, and, where appropriate, tapping into private sector investment, to permanently fix the infrastructure deficit. And we can do it.”

Lim Siong Guan Joins Board of Swiss Re Asia

Lim Siong Guan

Swiss Re named former GIC Group President Lim Siong Guan as chairman of the reinsurer’s Swiss Re Asia board. Swiss Re Asia has eight offices in the region. He was ranked #11 in SWFI’s Public Investor 100 in 2013.

Other external board members of Swiss Re Asia include:
Masaaki Shirakawa, Professor at Aoyama Gakuin University and former Governor of the Bank of Japan
Deanna Ong Aun Nee, chief people officer and managing director at GIC
Raymond Ch’ien, chairman of Hang Seng Bank, member of the board of directors of Swiss Re
Urs Buchmann, vice-chairman, Greater China at Credit Suisse AG Hong Kong Branch

Ghana Petroleum Fund Generates Some Net Profit

The Ghana Petroleum Fund generated US$ 7.03 million in total net profit from January 2017 to September 2017, according to government reports.

Funds SA Trades JANA Investment Advisors over Willis Towers Watson

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Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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