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SWFI First Read, May 19, 2017

Like Others, CPPIB Grows Net Assets

CPPIB grew net assets to C$ 316.7 billion at March 31, 2017. In addition, the portfolio return generated an investment return of 12.2%. The return was calculated differently compared to the previous fiscal year, as well as the classification of asset classes. In the reported fiscal year, CPPIB conducted 182 global transactions.

IHH Healthcare Sells Off Apollo Hospitals Investment

IHH Healthcare Berhad is majority-owned by Khazanah Nasional Berhad. IHH Healthcare sold its entire 4.78% holding in Apollo Hospitals Enterprise Ltd., an Indian hospital chain operator, for around Rs 830 crore (US$ 128 million) through two block trades. IHH Healthcare had owned 6.65 million shares in Apollo Hospitals.

Temasek Holdings Prunes Stake in ICBC

Sovereign wealth funds across the board, like the Qatar Investment Authority (QIA), are slowly selling off their positions in Chinese banks. Singapore’s Temasek Holdings lowered its position in Industrial and Commercial Bank of China (ICBC) from 9.12% down to 8.43%. A regulatory filing showed Temasek unloading 600 million H shares in ICBC for an average price of HK$ 5.023 per share.

U.K. Conservative Party Reveals Statement on Proposed SWF Through Manifesto

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SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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