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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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Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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