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SWFI First Read, May 29, 2018

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India FinMin Contemplates Strategic Investments Fund

India’s Finance Ministry is contemplating forming a new fund under the country’s National Investment and Infrastructure Fund (NIIF) that will target strategic investments. NIIF is continually reaching out to investors wishing to get exposure to India’s growth story.

Affiliated Managers Group Moves Nathaniel Dalton to CEO Over Healey’s Health

Affiliated Managers Group, Inc. (AMG) is a listed company that owns a number of asset management firms. AMG’s CEO Sean M. Healey stepped down, but was named executive chairman of the firm. Replacing Healey is Nathaniel Dalton, AMG’s current president and former chief operating officer. Dalton is one of the founders of AMG. The reason for Healey’s move is that he was “diagnosed with amyotrophic lateral sclerosis (a motor neuron disease otherwise known as ALS, or Lou Gehrig’s disease),” according to a press release.

Two of China Energy Reserve And Chemicals Group’s Units in May Fail to Meet Bond Obligations

Beijing-based China Energy Reserve And Chemicals Group (CERCG) revealed that its unit, China Energy Reserve and Chemicals Group Overseas Capital Co., Ltd., has failed to pay its US$ 350 million bond due. The unit mentioned tightening credit conditions in mainland China. The bonds were due May 11, 2018. To address the issue, CERCG plans to divest a number of assets.

Another CERCG unit, Hong Kong-based Hsin Chong Group Holdings Limited, also failed to pay its US$ 300 million bond earlier in May.

CERCG is company that targets activities in energy exploration, transportation, chemical industries and storage.

Hyundai Investments to Acquire Le Balthazar in Saint-Denis

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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