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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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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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