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SWFI First Read, November 17, 2015

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ChemChina Approaches CIC for Financial Backing in Syngenta Proposed Acquisition

State-owned China National Chemical Corporation (ChemChina) reached out to the China Investment Corporation (CIC) for financial assistance regarding the attempted acquisition of Syngenta AG, a Swiss pesticide manufacturer.

Sankaty Advisors Buys 4 CLOs from Regiment Capital Advisors

Sankaty Advisors, the global credit affiliate of Bain Capital, and Boston-based Regiment Capital Advisors, inked a deal that Sankaty will be buying the management contracts for four portfolios of collateralized loan obligations (CLOs) totaling US$ 1.6 billion of assets from Regiment. The management contracts to be transferred are for Cavalry CLO II, Ltd., Cavalry CLO III, Ltd., Cavalry CLO IV, Ltd., and Cavalry CLO V, Ltd. Berkshire Capital Securities, WilmerHale and Dechert LLP are serving as advisors to Regiment. Ropes & Gray LLP is acting as legal advisor to Sankaty.

Oman India Joint Investment Fund Seeks to Raise Money for Fund II

The Oman India Joint Investment Fund is seeking to raise US$ 300 million for its second fund. The fund is backed by the State Bank of India and Oman’s State General Reserve Fund.

Kessler Topaz Meltzer & Check LLP Files Class Action Against GNC Holdings

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GIC Gets Exposure to Exchange Tower through Primewest Vehicle

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Singapore’s GIC Private Limited funded a deal through a fund to acquire the Exchange Tower in Perth. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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SWFI First Read, December 13, 2018

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Turkey Wealth Fund Could Tap Debt Markets in 2019

Turkiye Varlik Fonu or Turkey Wealth Fund could be issuing a large bond in 2019. The loan would most likely be short term in nature with a maturity of two years and be syndicated.

Rahm Emanuel Suggests Bonds to Help Support Chicago Pensions

The outgoing Chicago Mayor Rahm Emanuel revealed a plan on possibly issuing US$ 10 billion in bonds in funding Chicago’s underfunded pension funds. Chicago’s four pension funds have an average funding ratio of 26%. In March 2016, the Illinois Supreme Court ruled an earlier pension reform law effecting employees and laborers’ pension funds that was signed by then Illinois Governor Pat Quinn that the law was unconstitutional.

SoftBank and Alibaba Back PT Tokopedia

PT Tokopedia is an Indonesian generalist e-commerce site. Tokopedia raised US$ 1.1 billion in an investment round led by the SoftBank Vision Fund and Alibaba Group. Softbank Ventures Korea and other investors participated in the round as well. William Tanuwijaya is the CEO and Co-Founder of Tokopedia.

Tikehau Capital and Total SA Form Low Carbon Fund

Tikehau Capital and Total SA created a private equity fund to focus on supporting the energy transition to cleaner sources of energy. The fund held a €350 million first close and raised money from investors such as Bpifrance and Groupama as anchor investors.

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Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

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The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

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