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SWFI First Read, May 7, 2018

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VTB Comments on Ability to Loan QIA Money for Rosneft Buy

Russian banking giant VTB commented that the bank would be able to provide a loan for the Qatar Investment Authority (QIA) to acquire the large stake in Rosneft.

Temasek Nearing Deal on Pine Labs

Singapore’s Temasek Holdings is nearing a deal to acquire a major stake in Pine Labs for between US$ 350 million to US$ 400 million. The company is a digital payments platform based in India. The largest shareholder in Pine Labs remains Sequoia Capital.

Sam Green Joins Russell Investments

Sam Green, a former employee at the Washington State Investment Board (WSIB) and Oregon State Treasury, joined Russell Investments as a private market analyst.

Sue Thompson Joins State Street

State Street Global Advisors named Sue Thompson as head of Americas distribution for the SPDR exchange-traded fund business. Previously, she was CEO of Thompson Peak Advisory, her own consulting company. Before that, she held roles at BlackRock and Vanguard. Thompson will report to Rory Robin, Global Head of SPDR ETFs at State Street Global Advisors. This is a new role and Thompson will be based in Boston.

HNA Group Sells Shanghai Development

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PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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