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SWFI First Read, November 27, 2016

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State Street Sells Back Complementa Investment-Controlling to Company Management

State Street Corporation sold its ownership of Swiss data and analytics firm Complementa Investment-Controlling to its management. Complementa CEO Heinz B. Rothacher purchased 100% of the shares in Complementa plus it subsidiaries. The company is based in St. Gallen and has branches in Zurich and Frankfurt. In 2011, State Street acquired Complementa Investment-Controlling from the company’s founder Michael Brandenberger.

British Business Bank Invests in Seraphim Space Fund

Sheffield-based British Business Bank plc, a state-owned economic development bank established by the U.K. government, committed £30 million to a fund being managed by London-based Seraphim Capital. Seraphim Capital is launching a £80 million fund called the Seraphim Space Fund to invest in technologies in the space sector covering artificial intelligence (AI), software, hardware and nanomaterials. In addition, aerospace giant Airbus participated in the fund investment round as well. Michael Jones, the founder of the virtual map platform Google Earth, is taking a role as the fund’s managing partner.

Vertex Ventures Invests in Spacemob

Vertex Ventures, a venture capital unit of Singapore’s Temasek Holdings, led an investment round in Singapore-based share office space provider Spacemob. The seed investment round was worth US$ 5.5 million. Other investors in the round include Alpha JWC Ventures, which has a strong presence in Indonesia, as well as angel investors.

Co-operative Group Limited Awards PGIM Real Estate with Property Mandate

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Changes at Temasek International

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Dilhan Pillay Sandrasegara, the Deputy CEO of Temasek International, will become CEO of Temasek International Pte Ltd, the wholly owned management and investment arm of its parent company Temasek Holdings Pte Ltd. He is succeeding Lee Theng Kiat. Lee Theng Kiat will become Chairman of Temasek International. In addition, Ho Ching will step down as Chair of Temasek International.

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NSIA Reappoints Stella Ojekwe-Onyejeli and Appoints Aminu Umar-Sadiq as Executive Directors

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On March 9, 2019, the Nigerian President confirmed the appointment of two Executive Directors to the NSIA Board (Nigeria Sovereign Investment Authority). Stella Ojekwe-Onyejeli has been reappointed as Executive Director for a second term. She is also the Chief Operating officer of NSIA. In addition, Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed, for the first time, as Executive Director.

In 2018, the NSIA Board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.

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HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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