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SWFI First Read, November 1, 2015

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AGAIN: Nigeria Looks to Form Bigger Infrastructure Fund

Shifting economic tactics, the government of Nigeria has plans to form a US$ 25 billion infrastructure fund to navigate capital into the energy and transportation sectors. The fund could attract institutional investors both locally and internationally, even from the Nigerian Sovereign Investment Authority (NSIA) and Nigerian domestic pensions. This infrastructure fund could also attract the attention of other sovereign funds looking to gain access to sub-Saharan African infrastructure with government support.

KIC and NICNBK Signed MoU

Earlier in the Fall, the Korea Investment Corporation (KIC) met with the National Investment Corporation of the National Bank of Kazakhstan (NICNBK). The two sovereign wealth funds signed a Memorandum of Understanding (MoU).

OMERS Explores Options for Marketwired

OMERS Private Equity is looking to sell Toronto-based Marketwired LP, a company that distributes press releases. OMERS hired Bank of Montreal (BMO) to assist in the sale. Marketwired could fetch around US$ 200 million.

NEVER SURRENDER: Gassled Investors Appeal

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

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Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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