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SWFI First Read, January 4, 2018

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Temasek Holdings Invests in Bolt Threads Series D

Emeryville, California-based Bolt Threads raised US$ 213 million in a Series D round. Initially the round was US$ 123 million in November. Temasek Holdings, Formation 8, Founders Fund, and Fidelity Management, joined late to the round. Bolt Threads makes spider silk from microbugs.

ADIA Goes Big on Middle Income Housing in India

Abu Dhabi Investment Authority (ADIA) and India’s Housing Development Finance Corporation had committed more than US$ 1 billion to a joint fund. ADIA provided most of the capital at a reported US$ 900 million.

More than US$ 500 million of that amount will target affordable housing and middle-income housing projects in India.

Bart Grenier to Lead Asset Management at Fidelity International

Bart Grenier was named Global Head of Asset Management at Fidelity International. He will be based in London. He was previously a Chief Executive Officer, Chairman and Chief Investment Officer at The Boston Company Asset Management. Grenier has worked at Fidelity Investments from 1991 to 2005.

New Mexico State Investment Council Awards US$ 100 Million Mandate

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FIRRMA Bill is a Big Deal for Foreign Asset Owners

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The United States Treasury is analyzing options on further restricting investments into “sensitive” sectors, such as technology and defense, in the United States from Chinese state-owned capital. The U.S. Commerce Department, under the export control regime, banned U.S. companies from selling parts to ZTE Corporation, a Chinese telecommunications manufacturer, for seven years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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AIMCo Posts 10.4% Return in 2017

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The Alberta Investment Management Corporation (AIMCo) posted its performance for the 12-month period trailing December 31, 2017, which saw its overall assets grow by 8.4% – or C$ 8.0 billion (US$ 6.1 billion) – to C$ 103.7 billion (US$ 82.3 billion). This represents returns net-of-fees on its C$ 88.2 billion (US$ 70.3 billion) worth of balanced fund investments in 2017 of 10.4%, against a 9.1% custom benchmark. Established in 2008, AIMCo represents the financial well-being of 32 pension, endowment, government, and specialty funds in the Canadian province of Alberta. This includes the Albert Heritage Fund.

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Mubadala Real Estate Targets JV Developers, Eyeing Local REIT Launch

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Mubadala Investment Company’s property arm is preparing to launch a local real estate investment trust (REIT) by 2020, and is currently in talks with several developers for international joint ventures on a plot-by-plot basis that are expected to be finalized in 2018, according to Ali Eid Al Mheiri, executive director of Mubadala Real Estate and Infrastructure. Ali Eid Al Mheiri is also Vice Chairman of ALDAR Properties PJSC and Chairman of Abu Dhabi Finance Company PJSC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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