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SWFI First Read, July 31, 2018

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APG Asset Management Selects New CIO

Peter Branner was chosen as the next chief investment officer at APG Asset Management, starting September 1, 2018. He is the former CEO of SEB Investment Management.

CPPIB and Hermes Refinance Milton Park Property

Hermes Investment Management and Canada Pension Plan Investment Board (CPPIB) own the 250-acre Milton Park property in Oxfordshire, England. The owners refinanced and obtained a 7-year £200 million from Barings Real Estate.

John Hancock Buys Stake in Phoenix Tower International

Blackstone Tactical Opportunities investment platform, part of the Blackstone Group, sold a minority stake in Phoenix Tower International to John Hancock Life Insurance Company and the John Hancock Infrastructure Fund. Phoenix Tower International was created in 2013 and operates in 10 countries.

Issues with Freeze Application, Quantum Global Gets Reprieve

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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China’s Central Bank Creates Macro-Prudential Management Bureau

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The People’s Bank of China (PBOC) created a new department to oversee and attempt to eliminate financial risks to the system. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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