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SWFI First Read, November 16, 2016

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Calamos Loses Major Mandate from Nomura

Calamos Investments is losing money from a major account, which could bring its assets under management down by 5%. Approximately, US$ 1.1 billion in assets is being pulled from Calamos by Nomura Holdings. Nomura is moving the money to American Century Investments. In December 2015, Nomura acquired a 41% ownership stake in American Century Investments.

CIC May Open London Office

The China Investment Corporation (CIC) may be opening up a London office. In addition, China Life, a massive Chinese insurer, is also considering having a London office. The Shanghai Clearing House China Foreign Exchange Trade System plans to open a representative office in London.

BTG Pactual Finalizes Sale in Ariel Re

Brazil-based BTG Pactual finalized its disposition of reinsurer Ariel Re. BTG Pactual sold its 50% stake in Ariel Re for US$ 235 million to Bermuda-based Argo Group International Holdings. The Abu Dhabi Investment Council (ADIC) retained its 50% ownership stake in Ariel Re.

National Highways Authority of India Looks to Sweeten Offer for Foreign Institutional Investors on Roads

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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