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SWFI First Read, May 4, 2017

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Tasplan Awards Mandate to IFM Investors

Tasplan is a superannuation fund based in Hobart, Tasmania. Tasplan awarded a A$ 670 million mandate for IFM Investors to run an actively managed Australian core equities strategy. This coincides with the RBF Tasmanian Accumulation Scheme transferring assets to Tasplan from April 2017.

Alaska Permanent Fund Approaches $60 Billion

The Alaska Permanent Fund’s value reached US$ 57.8 billion at March 31, 2017.

Investcorp Promotes Gabriel Aractingi

Investcorp promoted Gabriel Aractingi to lead its business in Saudi Arabia. Aractingi will focus on Riyadh and the Eastern Province, while Yasser Bajsair, Investcorp managing director in Saudi Arabia, who will continue to focus on the Western Province. Aractingi joined Investcorp in 2016 as a managing director, having worked previously with Morgan Stanley as CEO of its Saudi Arabia business and before that as Head of Private Wealth Management, MENA. Aractingi also worked at Swiss private bank Lombard Odier as head of middle east and special clients.

Puerto Rico Declares a Type of Bankruptcy

Top government officials in Puerto Rico have placed the territory’s debt mess into U.S. federal bankruptcy court. Puerto Rico Governor Ricardo Rossello requested in a letter that the federally appointed oversight board trigger Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). Puerto Rico is not a U.S. state. Since 2006, Puerto Rico has been in a recession, trying to get assistance from the U.S. government. Puerto Rico has been trying to restructure its enormous pile of debt, approximately US$ 70 billion.

PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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