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SWFI First Read, July 20, 2016

Philadelphia Pension CIO Passed Away

Michael Donatucci, the newly-hired chief investment officer (CIO) at the Philadelphia Board of Pensions and Retirement, died on July 15, 2016. Donatucci was 30 years old. He joined the pension as CIO on June 1, 2016. He had been a client investment strategist at SEI Investments.

Temasek Makes Offer to Buyout SMRT

Singapore’s Temasek Holdings has offered 1.18 billion SGD (US$ 869 million) to acquire the remaining shares of SMRT Corporation, the country’s transport operator. The offer values SMRT at 2.565 billion SGD. The financial advisor for SMRT was Bank of America Merrill Lynch. The financial advisor for Temasek was Credit Suisse.

Kessler Topaz Meltzer & Check Files Lawsuit Against Inovalon

Bowie-based Inovalon Holdings, Inc. is a technology company that provides cloud-based data analytics and data-driven intervention platforms to the healthcare industry in the United States. Law firm Kessler Topaz Meltzer & Check, LLP has filed a shareholder class action lawsuit against Inovalon Holdings, Inc. on behalf of purchasers of the company’s common stock issued pursuant or traceable to the registration statement and prospectus filed in connection with Inovalon’s February 12, 2015 initial public offering (IPO) of common stock. The lawsuit alleges that the IPO offering materials were negligibly prepared, contained untrue statements of material facts, and omitted to state other necessary facts. Among other things, the complaint alleges that the IPO offering materials failed to disclose the substantial revenues Inovalon derived from sales in New York City and the State of New York.

Monica Lai Appointed Senior Investment Director at Alfred P. Sloan Foundation

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SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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