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SWFI First Read, July 28, 2017

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BREXIT WHAT? Walkie Talkie Building Sold to Hong Kong LKK Health Products Group

Infinitus Property Investment, a subsidiary of Hong Kong-based LKK Health Products Group, has acquired the 37-storey Walkie Talkie building in London for approximately £1.3 billion. The property is located at 20 Fenchurch Street. The sellers were Canary Wharf Group and Land Securities. Cushman & Wakefield advised on the deal. Infinitus Property Investment oversees properties in markets such as Hong Kong, Guangzhou and Shanghai.

BCPP Nominates RPMI Rail Chief Exec as Chairman

Chris Hitchen was appointed as Non-Executive Chair of Border to Coast Pensions Partnership (BCPP). BCPP is one of many public pension pools in the United Kingdom. Hitchen is Chief Executive at RPMI Railpen, who is set to be leaving in the future. BCPP is poised to combine the assets of 12 local government pension schemes across England, with estimates at approximately £43 billion. Members of BCPP include the Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear and Warwickshire LGPS funds.

SSgA EMEA Operations Karpik to Leave, Replaced by Cuan Coulter

Mike Karpik is leaving State Street Global Advisors (SSgA). Karpik is Head of SSgA’s operations in the Europe, the Middle East, and Africa (EMEA) region. Taking his spot is Cuan Coulter. Currently, Coulter is Chief Compliance Officer of State Street Corporation.

CPPIB Invests in £250 Million in a Subordinated Facility for intu properties plc

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Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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