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SWFI First Read, May 25, 2017

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UBS Wins Big Global Smart Beta Mandate from a U.S. State Pension

The Iowa Public Employees’ Retirement System awarded a global smart beta equity manager mandate to UBS Asset Management. The contract is pending final negotiations. The allocation is 3% of the total pension’s portfolio, which has around US$ 28.5 billion in assets.

Khazanah Nasional Buys Stake in SigFox

Khazanah Nasional Berhad acquired a minority stake in France-based SigFox, a company operating in the Internet of Things (IoT) sector. Other investors in SigFox include Alto Invest, Salesforce Ventures, Henri Seydoux, Swen CP, Tamer Group and Total.

SigFox was advised by Lazard. Skadden, Arps, Slate Meagher & Flom LLP was the legal advisor for SigFox.

CQS Hires Global Head of Credit

Hedge fund CQS hired Nicholas Pappas, the former co-CEO of BlueMountain Capital Management’s European business, as Global Head of Credit. Pappas will join CQS at the end of summer this year.

Pappas joined BlueMountain Capital Management from Goldman Sachs, where he worked in leverage finance trading and research.

Air Astana and Kazatomprom Select Advisers for Planned 2018 IPOs

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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