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SWFI First Read, May 1, 2018

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Chinese Regulator Permits Increased Foreign Ownership to 51% in JV Fund Management

In a bid to stimulate the country’s asset management industry, the China Securities Regulatory Commission (CSRC) increased the ceiling of foreign ownership of joint venture fund management companies to 51% from 49%.

Koum Leaves Facebook

Jan Koum, a Co-Founder of WhatsApp, exited Facebook. Koum sold WhatsApp to Facebook for US$ 19 billion in 2014.

Mubadala Dreams of Tech Hub

Mubadala Investment Company plans to construct a technology hub in Abu Dhabi in 2019 to lure technology companies.

SAMA Launches Fintech Saudi Initiative

The Saudi Arabian Monetary Agency (SAMA) revealed the creation of the Fintech Saudi initiative in a bid to have the country be a hub for financial technology.

ISIF Invests in AMCS

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RDIF and Makara Capital form Technology Company Investment Joint Venture

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The Russian Direct Investment Fund (RDIF) and Singapore-based Makara Capital, a specialist in transaction financing and asset management, signed a deal to form a US$ 200 million joint investment platform to finance breakthrough innovative projects in Russia and Asia. Ali Ijaz Ahmad, the CEO of Makara Capital, is a board director of the Intellectual Property Office of Singapore (IPOS). Ali Ijaz Ahmad served as an adviser to Morgan Stanley and The Carlyle Group. He also had stints at the World bank and Goldman Sachs. Makara Capital was founded in 2005 as a joint venture with Credit Suisse AG and made independent by its founding partners in 2008.

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SVB Financial Group to Acquire Leerink Holdings

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Linking Boston to the San Francisco Bay Area in the world of pharmaceuticals, SVB Financial Group (SVB) announced that it has entered into a merger agreement to acquire Leerink Holdings LLC, the Boston-based parent company of Leerink Partners LLC, an investment bank focused on the healthcare and life science industries. Jeffrey A. Leerink formed Leerink in 1995. Santa Clara, California-based SVB Financial Group is the parent company of Silicon Valley Bank. SVB is big into life sciences and provides services to many healthcare companies and startups.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Digital Currencies Gaining Steam Among Central Banks

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At the Singapore Fintech Festival, International Monetary Fund head Christine Lagarde noted that central banks should consider issuing digital currency, as non-cash payments increased over the years – especially in developed markets. Digital currencies, also known as cryptocurrencies, such as bitcoin have lost tremendous value in recent months. Lagarde is referring to having the central bank issue digital currencies. Lagarde argued that a digital currency would be the liability of the state and not a private company. Saudi Arabia, China, Canada, Sweden, and even Uruguay have tinkered with possibly having digital currencies or some form. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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