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SWFI First Read, March 29, 2017

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CIT Finances Battery Storage System in Los Angeles

CIT led the non-recourse project financing of a 50 megawatt fleet of behind-the-meter, battery storage systems located in certain grid-constrained pockets of the West Los Angeles Basin. Macquarie Capital had acquired the asset from Advanced Microgrid Solutions in August 2016. Since the August acquisition, Macquarie and Advanced Microgrid Solutions have been jointly developing and constructing the portfolio, which is expected to come online in phases over the next 12-24 months. Advanced Microgrid Solutions is acting as the asset manager of the projects.

PIF Plans to Expand Investments in Jordan, Forms New Investment Company

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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