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SWFI First Read, November 24, 2016

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Happy Thanksgiving from SWFI

Sue Brake Heads Over to Willis Towers Watson

Sue Brake, a senior investment strategist at the New Zealand Superannuation Fund, has exited the wealth fund to join Willis Towers Watson as a senior investment consultant.

APG Group Appoints Dick van Well to the Supervisory Board

APG Group, which oversees APG Asset Management, appointed Dick van Well as a member of its supervisory board.

Investcorp Touts US$ 250 Million Spend on U.S. Real Estate

Bahrain-based Investcorp, through its U.S. real estate unit, acquired a pool of real estate properties in the Boston and Denver metropolitan areas, for a total purchase price of approximately US$ 250 million. The five investments include 20 buildings and 1.8 million square feet of office, industrial, flex and laboratory space.

Some properties include:
Blackstone Science Square, Cambridge, Massachusetts
Centerpoint I & II, Denver, Colorado
Arapahoe Business Park, Colorado
345 Inverness (Portfolio of 10 office/flex properties), Colorado

In July, CBRE Group, Inc., sold the Centerpoint I & II office buildings to Investcorp.

New Mexico’s State Investment Council Settled with Eastern Real Estate Development LLC

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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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