SWFI First Read, March 16, 2016

London Stock Exchange Group and Deutsche Bourse Agreed to Merge

The London Stock Exchange Group and Deutsche Bourse publicly announced plan to combine in a merger of equals. The combined entity would be based in London. The deal is an all-share deal and form a holding company for both companies called UK TopCo. 54.4% of the holding company would be owned by Deutsche Bourse shareholders, while the remaining would go to London Stock Exchange Group shareholders. Carsten Kengeter, CEO of Deutsche Bourse, plans to be CEO of the combined group.

Fullerton Fund Management Hires Head of Multi-Asset Strategies

Fullerton Fund Management Co., a sovereign wealth enterprise (SWE) of Singapore’s Temasek Holdings that focuses on investment management, hired Pranay Gupta as head of multi-asset strategies. This is a new role. Previously, Gupta was chief investment officer for Asia at Swiss private bank Lombard Odier and at ING Investment Management. Fullerton Fund Management was formed in 2003 and as of December 31, 2015 had S$ 13 billion in assets under management.

Qube Partners with Competitor Bid to Acquire Asciano

In another move, the board of port and rail operator Asciano recommended a deal offered by Qube and its rival bidder Brookfield Infrastructure Partners to be acquired for A$ 9.15 billion (US$ 6.8 billion). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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