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SWFI First Read, November 19, 2015

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Mumtalakat Forms JV with Synergies Castings Limited

Bahrain’s Mumtalakat Holding agreed to form a joint venture with India-based Synergies Castings Limited, a company that focuses on aluminium casters and manufacturers of alloy wheels, to build an aluminium casting and specialty alloy wheel manufacturing facility in Bahrain. The development will be at the new molten metal park, adjacent to Aluminium Bahrain (Alba), which is a combined initiative between Mumtalakat and the Bahrain Economic Development Board (EDB). Mumtalakat will hold a 49% stake in the joint venture.

Raising Cash: Kazakhstan Seeks to IPO 43 State-Owned Companies in 2016-2017

Samruk-Kazyna announced the Kazakhstan government plans to sell stakes of at least 25% ownership in 43 large state-owned companies in 2016 and 2017. The method of selling the stakes would most likely be initial public offerings (IPO). Samruk-Kazyna manages the government’s shares of state-owned businesses. Some state-owned businesses that would go public include: company KazMunaiGas, uranium company Kazatomprom, railway company Kazakhstan Temir Zholy and mining firm Tau-ken Samruk. Kazakhstan President Nursultan Nazarbayev told the public he would like Kazakh businessmen and companies to take part in the privatizations.

TutorGroup Raises Series C Round

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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