SWFI First Read, July 4, 2016

GPIF Likely Had a Rough Start into Equities for 2015

Japan’s Government Pension Investment Fund (GPIF) may have lost more than ¥5 trillion in its fiscal year 2015. If this information holds true, it would be the first loss for GPIF in five years. The Japanese government will release the official data on July 29, 2016, after the July 10 Upper House election.

Infrastructure Fund of Deutsche Asset Management Acquires 50% Stake in Akiem

Deutsche Asset Management, on behalf of its second European infrastructure fund, purchased a 50% stake in Akiem, the second largest locomotive leasing business in Continental Europe, from Ermewa Group. The transaction will create a joint venture with Ermewa Group with the long-term view to support the growth of Akiem. Akiem was created in 2008 by French National Railways (SNCF) and wants to expand its position in the European freight locomotive leasing market. Ermewa Group is SNCF Logistics’ asset management subsidiary. Akiem also secured a €125 million loan from Germany-based HSH Nordbank.

Kuwait Seeks to Raise $9.9 Billion Internationally

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