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SWFI First Read, May 17, 2017

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APG Continues to Play in Dutch Residential Leasing Market

APG Asset Management is part of a group of investors to kick in an additional €280 million into a portfolio of Dutch residential rental properties overseen by Rotterdam-based Vesteda. The money will target opportunities in the areas of Ranstad, Brabant and other cities in Netherlands. Vesteda was advised by Kempen & Co on the capital raise.

Minnesota SIB Plans to Draft Inaugural Investment Beliefs Statement

The Minnesota State Board of Investment plans to join the crowd of U.S. public pension plans drafting investment beliefs. The investment belief statement for the pension system plans to be reviewed at the August 14, 2017 investment committee advisory meeting. In addition, the pension plan asked one of its consultants, PCA, to analyze and review the environmental, social and governance (ESG) policies of the system’s external fund managers. Those findings are due by November 20, 2017.

China Development Bank Leads Venture Funding Round for Chinese app maker Wacai

China Development Bank Capital, a subsidiary under China Development Bank (CDB), led a US$ 42 million funding round for Wacai, a Chinese provider of personal finance apps. Other investors in the round were New Horizon Capital, Qiming Venture Partners, CBC Capital and Ally Bridge Group. Wacai was formed in 2009.

Sigit Prasetya Named Head of Asia for CVC Capital Partners

CVC Capital Partners named Sigit Prasetya as head of Asia. This is a promotion. Previously, he was a Managing Director at CVC Capital Partners. Prior to joining CVC in 2007, Prasetya was Head of Southeast Asia for Henderson Equity Partners.

First State Investments Hires Former Deutsche Asset Management Client Executive for North American Distribution Role

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HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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IFM, Polish Development Fund, PSA Acquire Gdansk Terminal

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The Polish Development Fund, known locally as Polski Fundusz Rozwoju S.A. (PFR), signed a deal to lead an investor group to acquire the largest container terminal in Gdansk from an infrastructure fund managed by Macquarie. The transaction is worth more than 5 billion zlotys (US$ 1.3 billion). DCT Gdansk is the only terminal in Baltic sea region that can serve Ultra Large Container Vessels, also known as UCLVs.

The Polish Development Fund and IFM Investors will each acquire a 30% stake in the Gdansk terminal, while PSA International Pte Ltd (which is owned by Temasek Holdings), will own 40% of the terminal.

Macquarie was advised by Goldman Sachs.

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Williams and CPPIB Create $3.8 Billion Venture in the Marcellus and Utica Basins

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Tulsa-based Williams Companies Inc. (Williams) disclosed a series of transactions that will establish a new platform for the optimization of its midstream operations in the western Marcellus and Utica basins through a long-term partnership with Canada Pension Plan Investment Board (CPPIB). This deal gives CPPIB more exposure to the North American natural gas market.

CPPIB Investment

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