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SWFI First Read, May 23, 2017

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Ping An Insurance Leads Series A in Huya

China Ping An Insurance Overseas (Holdings) Ltd., a unit of Ping An Insurance, led a US$ 75 million Series A round in Huya. Huya is a live-video streaming platform owned by YY Inc, a Chinese listed social networking platform. Other investors in the round include Engage Capital, Banyan Capital, Morningside Venture Capital, Huya CEO Dong Rongjie, YY Inc Chairman David Li. Huya was founded in 2014.

Sunsuper and State Super Exits LBC Tank Terminals

Ardian inked a deal to acquire a 35% stake in LBC Tank Terminals from Sunsuper and State Super, exiting from their investment. APG Investment Management and PGGM will retain their stakes in LBC Tank Terminals.

Commerz Real Buys Seattle Facebook Office

German fund manager Commerz Real, on behalf of its open-ended fund HausInvest, acquired Facebook’s office building in Seattle known as the Dexter Station building, for US$ 286 million. Investing alongside Commerz Real is RFR Group. RFR Group will manage the property. The seller of Dexter Station was Stockbridge Capital Group.

Samruk-Kazyna Seeks to Borrow $3 Billion from CDB

Samruk-Kazyna has plans to borrow US$ 3 billion from the China Development Bank (CDB). The borrowing could be completed by June 2017.

HSBC Global Asset Management Hires for Responsible Investment Intrigue

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Mergermarket Gets Ready to be Sold

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Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

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Why Japan Post Sees Promise in Aflac

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Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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RDIF and Development Agency of Serbia Agree to Explore Joint Investments

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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

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