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SWFI First Read, June 7, 2016

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Strathclyde Pension Fund to Expand Exposure to Emerging Markets and Credit

The Strathclyde Pension Fund plans to allocate £200 million to £300 million in emerging market debt. The fund is modifying its strategic asset allocation. The fund also plans to expand exposure to credit investments. In addition, the fund is committing £30 million, through its direct investment portfolio, toward Equitix Fund IV, a core infrastructure fund managed by Equitix.

New York Governor Requires State Agencies to Divest from Companies that Boycott or Sanction Israel

New York Governor Andrew Cuomo issued an executive order that prevents New York state agencies dealing with companies and organization that support the global Boycott, Divestment and Sanctions (BDS) movement. The BDS movement calls for an economic boycott of Israel due to its policies toward Palestinians. The bill also affects all public benefit corporations, public authorities, boards and commissions, with regard to New York. However, Cuomo’s executive order does not apply to the New York State Common Retirement Fund. In addition, the states of Illinois, Indiana and Colorado have established similar laws requiring public pension funds to divest from companies that boycott or place economic sanctions on Israel. These moves are in stark contrast of other institutional investors such as Norway’s sovereign wealth fund, which in 2014, banned two Israeli companies, Africa Israel Investments and Danya Cebus, over their alleged activities in building settlements in East Jerusalem.

Goldman Sachs Probed by U.S Investigators Over Compliance with Bank Secrecy Act Over 1MDB

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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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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