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SWFI First Read, November 29, 2018

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Norges Bank Tells SWF to Continue to Take Risk

Egil Matsen is the Deputy Central Bank head of Norges Bank, which oversees Norway Government Pension Fund Global (GPFG). Matsen in a speech said, “Although we must seek to limit the risks we encounter, we must at the same time reiterate that some risk is worth undertaking.”

Deutsche Bank Gets Hit Again on Panama Papers

Government prosecutors raided the headquarters of Deutsche Bank AG over a money laundering probe. The bank’s headquarters is in Frankfurt. Deutsche Bank confirmed that police are investigating the bank in an investigation related to the Panama Papers – a leak disclosing offshore accounts held by policymakers, executives, and the like.

Samsung Life Sells Commerzbank’s London HQ

Commerzbank AG’s London headquarters, at 30 Gresham Street in London, was sold to Singapore-based Wing Tai Holdings for 460 million GBP. The seller is Samsung Life Insurance Co. Ltd., a unit of the Samsung Group. Samsung Life acquired the building in 2013 from Singapore’s GIC Private Limited for 310 million GBP.

Microsoft’s Bet on AR Pays Off

Tech giant Microsoft won a US$ 480 million contract to provide the U.S. Army with augmented reality (AR) headsets. The contract calls for 100,000 HoloLens headsets for combat missions and training.

Palatine Private Equity Buys CET UK

Palatine Private Equity, through Palatine Fund III, acquired a majority stake in CET UK, a specialist provider of infrastructure and property assurance services, in a secondary buyout transaction. The private equity firm used debt to fund the deal.

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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