SWFI First Read, January 9, 2017

Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani Passes at Age of 82

Former Iranian President Ayatollah Ali Akbar Hashemi Rafsanjani, born to a family of pistachio farmers and one of the founders of Iran’s Islamic republic, has passed away at the age of 82 on January 8, 2016. Before this passing, Rafsanjani was Chairman of the Expediency Council, a consultative body that is mandated to resolve issues between Iran’s parliament and the Guardian Council.

Turkey’s Sovereign Wealth Fund Appears to Be Getting Additional Funding Sources

Turkey’s Sovereign Wealth Fund is apparently getting a slew of additional funding sources to help it get off the ground. Proceeds from lottery games and betting, such as horse races and Turkey’s national lottery, will be funneled into the sovereign fund for 49 years, starting from January 1, 2018. The license for the lottery games include games such as Instant-Win, Numerical Lotto, Chance Ball, Ten Number and Super Lotto.

Northern Trust Names Craig Blackbourn as Head of Transition Management for EMEA

Craig Blackbourn was hired by Northern Trust to be head of transition management for Europe, Middle East and Africa (EMEA). Blackbourn joins Northern Trust from Nomura International, where he was head of transition management, EMEA. During his career, Blackbourn has also worked at Lehman Brothers, BNP Paribas Securities Services, Aberdeen Asset Management and both the custody and asset management businesses of Deutsche Bank. He will report to Ben Jenkins, Global Head of Transition Management at Northern Trust.

Lone Star Appears to be Winning Bidder to Acquire Novo Banco

After extensive negotiations, Lone Star, a U.S. private equity firm, is the leading bidder and reached some agreement with Banco de Portugal, the country’s central bank to buy Novo Banco. Novo Banco is the new bank entity cut out of the fallen lender Banco Espirito Santo (BES). BES went bankrupt in 2014. Other suitors for the Novo Banco include New York-based Centerbridge Partners, China-based Minsheng Financial Holding and Apollo Global Management.

State of Wisconsin Investment Board Allocates More to Separate Account in Heitman

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