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SWFI First Read, June 12, 2016

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Hermes Investment Management Hires Former BlackRock Director

Hermes Investment Management hired Gareth Davies as head of client relationship management. Davies will report to Mark Miller, Hermes’ head of U.K. and MENA institutional. Before joining Hermes Investment Management, Davies was Managing Director at BlackRock for around 10 years. At BlackRock, Davies was in charge of overseeing U.K. pension schemes and liability-driven (LDI) investment strategies. Before BlackRock, Davies had jobs at Henderson Global Investors and J.P. Morgan Asset Management.

Iran Preps Contracting in Anticipation of Foreign Partners in Further Petro Development

Iran’s Oil Ministry has been planning a new contracting model with regard to foreign companies operating in the Iranian petroleum sector. European energy companies such as France’s Total and Italy’s Eni are eager to tap Iran’s oil sector. For example, the Iranian government and Total inked a non-disclosure agreement on the development of the South Azadegan oil field, which is shared by Iran and Iraq. As international sanctions begun to lift, the country has been preparing for a possible export bonanza. Iran also has plans to construct refineries and chemical plants in relation to the oil industry.

China Vanke Launches U.S. Real Estate Firm

Shenzhen-based China Vanke, a large residential real estate developer in mainland China, formed a U.S.-based real estate firm to target investments on a global basis. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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