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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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Saudi Arabia Sends Second Installment of Aid to Pakistan

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On December 14, 2018, Pakistan received its second installment of the US$ 3 billion in aid promised from Saudi Arabia on October 23, 2018. The US$ 1 billion given on December 14th boosted the foreign reserves of the State Bank of Pakistan, which went from US$ 7.2 billion to US$ 8.2 billion. The first installment was given on November 23, 2018. The last installment is expected to occur in January 2019.

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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