SWFI First Read, May 31, 2016

MISSED OPPORTUNITY: Norway SWF Was Pitched Facebook When It Was Private

Norway’s sovereign wealth fund passed up investing in social networking giant Facebook before its initial public offering (IPO). Facebook had reached out to Norges Bank Investment Management (NBIM) before its IPO to see if they wanted to invest. Wealth fund rules governing it prevented the massive asset owner of investing in Facebook before it was listed.

Blackstone Group Invests in NZ Insurer

The Blackstone Group, through its Blackstone Tactical Opportunities fund, invested NZ$ 200 million into New Zealand insurance company Partners Life in the form of new capital. The deal is subject to shareholder and regulatory approvals. Partners Life was formed in August 2010. Before Blackstone’s capital investments, other shareholders of Partners Life include Waterman Capital, Rangatira, Auckland-based Maui Capital and Partners Life founder and managing director Naomi Ballantyne.

Qatar Holding Increases Ownership in Dubai Parks and Resorts

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