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SWFI First Read, June 26, 2018

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GIC Eyes Bid for Gateway Lifestyle Group

Singapore’s GIC Private Limited is eyeing a bid to acquire Gateway Lifestyle Group, an Australian residential community company. GIC is an investor in Gateway Lifestyle’s competitor National Lifestyle Villages.

GIC Hires Sam Kim from BlackRock

Singapore’s GIC Private Limited hired Sam Kim as Managing Director of the Portfolio Execution Group. He will relocated to Singapore from Hong Kong. Previously, Kim, a Harvard graduate, was Head of Trading and Liquidity Strategies for the Asia-Pacific Region at BlackRock.

AIIB Commits to NIIF, US$ 100 Million Hard, US$ 100 Million Soft

The Asian Infrastructure Investment Bank (AIIB) signaled a US$ 200 million commitment in the National Investment & Infrastructure Fund (NIIF).
US$ 100 million will be invested immediately, while the other US$ 100 million will be invested when AIIB is ready. AIIB has approved US$ 4.4 billion toward Indian investments, making the country a clear beneficiary of AIIB.

CPPIB Eyes Investment in Mytrah Energy

CPPIB is in talks to invest roughly US$ 300 million in Mytrah Energy Limited, a renewable energy company in India.

CDPQ Boosts Stake in Azure Power

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Disclosed on October 17, 2018, Caisse de dépôt et placement du Québec (CDPQ), through CDPQ Infrastructures Asia Pte Ltd., increased its stake in Azure Power Global Limited, a listed Indian solar power producer. CDPQ increased its ownership in Azure Power to 40.3% ownership by a US$ 100 million commitment in a recent capital raise. Post-deal, CDPQ has invested US$ 240 million in Azure Power.

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Invesco Lost a Big SWF Equity Mandate

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Invesco celebrated its landmark acquisition to acquire OppenheimerFunds from MassMutual. Invesco faced some outflows on its active management side of the business. In the third quarter of 2018, Invesco had outflows from two sovereign wealth funds, which totaled approximately US$ 2.5 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Sky News Reveals CPPIB Eyeing Gatwick Airport

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Mark Kleinman of Sky News revealed that the Canada Pension Plan Investment Board (CPPIB) is seeking to purchase a stake in Gatwick airport. The transaction could be more than £3 billion GBP, as CPPIB seeks to acquire a 42% in the airport from Global Infrastructure Partners. Furthermore, CPPIB would invest more capital into the airport if the deal goes through.

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