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SWFI First Read, March 7, 2018

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Gary Cohn Leaves White House

On March 6, 2018, National Economic Council Director Gary Cohn, the top White House economic policy adviser, resigned. Financial news reports the resignation is over U.S. President Donald Trump’s position on tariff policy.

S&P Global Acquires Kensho

S&P Global acquired Kensho, a Cambridge, Massachusetts-based
provider of artificial intelligence (AI) analytics for a price tag of roughly around US$ 550 million in cash and stock. Goldman Sachs was an early backer and adopter of Kensho and its products. In 2017, S&P Global led a US$ 50 million investment into Kensho at a valuation of US$ 500 million.

Keith Fujii to Head LaSalle Investment Management in Japan

LaSalle Investment Management named Keith Fujii as CEO and president of Japan. Fujii will be based in Tokyo. Fujii will become representative director and president of LaSalle Investment Management K.K., and join the board of directors at LaSalle REIT Advisors K.K., asset manager to the company’s Japan logistics REIT, LaSalle Logiport REIT. Previously, he was CEO of Ishin Hotel Group.

Victory Capital Increases Position in Cerebellum Capital

Victory Capital Holdings increased its ownership position in Cerebellum Capital, a hedge fund. In December 2016, Victory Capital Holdings made its first investment in Cerebellum Capital. At the end of 2017, Cerebellum Capital managed US$ 391 million according to ADV filings.

Melina Barber to Exit Harvard Management Company

Melina Barber, a Managing Director at Harvard Management Company (HMC), plans to leave the entity at the end of the month. Barber works in private equity at HMC. Barber moving over to Pilot House Associates, which manages money for billionaire Amos Hostetter Jr. Hostetter Jr. is an American businessman, who was the founder, chairman, and CEO of Continental Cablevision.

Ivanhoé Cambridge Aligns Interest, Buys Stake in Peel Logistics Property

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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