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SWFI First Read, January 9, 2017

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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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NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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