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SWFI First Read, May 19, 2018

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GIC is Financially Backing Water’s Edge Development in Los Angeles

Singapore’s GIC Private Limited and Newport Beach-based Marshall Property & Development are financial partners in the development called Water’s Edge in Playa Vista, a neighborhood in Los Angeles. The project is being led by Rockwood Capital.

Sumitomo Mitsui Asset Management Company and Daiwa SB Investments Inked MoU to Merge

On May 11, 2018, a Memorandum of Understanding (MoU) was signed for the merger of Sumitomo Mitsui Asset Management Company, Limited and Daiwa SB Investments Ltd. The proposed merger is subject to the approval of regulatory authorities. Sumitomo Mitsui Asset Management Company’s strengths is selling to mostly Japanese life and non-life insurance companies, while Daiwa SB Investments is stronger in the pension fund and corporate client market.

HSBC Securities Services Hires Bill Muia

HSBC Securities Services, part of the HSBC empire, hired Bill Muia as director for sales and business development, targeting U.S. asset managers and asset owners. Muia is based in New York and report to Scott Markowitz, Head of Sales and Business Development for the Americas at HSBC Securities Services. Previously, Muia worked at RBC Investor and Treasury Services and JP Morgan.

Temasek Capital Flows into AU Small Finance Bank for Raise

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Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

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The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

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Follow the Money – Episode 48

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This long-form podcast was recorded on December 11, 2018. Michael Maduell dissects the latest geopolitical trends that can impact institutional investors such as pensions, sovereign wealth funds, and endowments. Maduell lends his opinion on the lawsuit of Neiman Marcus and bumps in the road for augmented reality.

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CONTENTS
1:15 Huawei, Canada, Brexit, and Macron Headache
6:30 Sovereign Wealth Fund Asset Allocation
9:58 India Gets a New Central Bank Governor
13:26 Pensions Go Bust on U.S. Retailers
17:04 Augmented Reality and Sovereign Funds
22:00 Former CalPERS CIO Goes to Morgan Stanley Investment Management
24:30 Oman Investment Fund Goes on Defense in Public Markets
25:00 Japanese Scandals and Opportunities

EPISODE 48

Stream off Follow the Money

The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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Danica Pensions Sells Danica Pension Sweden

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Danica Pension sold Danske Pension Försikringsaktiebolag (publ) (also known as Danica Pension Sweden) to a group of investors for around 2.6 billion SEK. Danica Pension is part of Danske Bank A/S. Of the total amount, 2.3 billion SEK is being paid in cash, while the rest is in the form of a debt instrument from Danica Pension.

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