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SWFI First Read, June 20, 2017

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Landmark Merger Approved by Shareholders of Standard Life and Aberdeen Asset Management

The merger between Standard Life and Aberdeen Asset Management is going through as shareholders overwhelmingly approved the deal. More than 98% of Standard Life shareholders and more than 95% of Aberdeen shareholders approved of the merger. The new company will be called Standard Life Aberdeen and be run by Keith Skeoch and Aberdeen executive Martin Gilbert. The firm will be Europe’s second biggest fund manager.

Related Companies, Vornado Realty Trust and Skanska Back James A. Farley Post Office Redevelopment

Related Companies, Vornado Realty Trust and Skanska agreed to a US$ 1.6 billion deal with the Empire State Development Corporation to convert the James A. Farley Post Office into a train hall and commercial complex. The developers are kicking in US$ 630 million. US$ 550 million is coming from the Empire State Development Corporation, US$ 105 million from Amtrak, US$ 100 million from the Metropolitan Transportation Authority, US$ 150 million from the Port Authority of New York & New Jersey and US$ 65 million from U.S. federal grants.

Temasek Holdings Leads Series C Round in ClassPass

New York-based ClassPass, a fitness class subscription service, raised US$ 70 million in Series C funding. Leading the investment round was Singapore’s Temasek Holdings. Other investors and return backers include Thrive Capital, CRV, Acequia Ventures, General Catalyst, GV and M13.

Local Kuwaiti Daily Reports KIA Withdrew $1.1 Billion in Treasuries in April

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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