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SWFI First Read, March 7, 2017

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PCA Quits Private Equity Consultant Contract at CalPERS, Retains Others

The California Public Employees’ Retirement System (CalPERS) swiftly appointed Meketa Investment Group as the pension giant’s new private equity consultant. Meketa will advise on a massive, complex private equity portfolio. This move occurred when the Pension Consulting Alliance (PCA) abruptly resigned in the midst of a 5-year consultant contract, according to agenda materials. PCA, which has an extensive history with CalPERS, will still work with CalPERS in other consultant capacities.

Wafra Investment Advisory Group Takes Minority Stake in TSG Consumer Partners LLC

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GIC Raises Stake in China Oilfield Services

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On November 14 2018, Singapore’s GIC Private Limited acquired 2,982,000 H- shares in China Oilfield Services Ltd at an average price of HK$ 6.9883. GIC increased its ownership in China Oilfield Services to 9.07% from 8.91%. China Oilfield Services is an oilfield services company. It is a majority owned subsidiary of Chinese state owned company CNOOC Group.

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Carlyle Group Completes Deal on 19.9 Percent Stake in Fortitude Re

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More private equity firms are scooping up reinsurance assets. The Carlyle Group finalized its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re) from American International Group, Inc. (AIG) The transaction was first announced on August 1, 2018. Part of this deal included Fortitude Re inking an investment management agreement (IMA) whereby US$ 6 billion of assets will be committed into a variety of Carlyle investment strategies.

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RDIF, Indorama Corporation, and Yadran Oil Ink Joint Investment in Tartarstan

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The Russian Direct Investment Fund (RDIF), and Singapore-based Indorama Corporation Pte Ltd, a chemical corporation in Asia, and JSC Yadran-Oil, the company authorized by the Government of the Republic of Tatarstan, have agreed to jointly implement investment projects in Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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