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SWFI First Read, October 20, 2015

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GIC Solidifying Deal with Greenko

A sovereign wealth enterprise (SWE) of Singapore’s GIC Private Limited plans to invest approximately £162.8 million to acquire Greenko Group PLC’s majority interest in Greenko Mauritius, which is the holding company for Greenko’s business in India. Greenko is an operator of wind power, natural gas, biomass and hydropower assets in India.

Blackstone Energy Fund Waiting for the Right Moment

The Blackstone Group is poised to go after energy assets after a long-run in low oil prices. Blackstone sees a plethora of energy companies running out of cash, hoping to cherry pick the good ones. In February 2015, Blackstone Energy Partners II raised US$ 4.5 billion. The energy private equity fund has not deployed capital yet. Blackstone’s energy team is run by David Foley, senior managing director and CEO of Blackstone Energy Partners. In the third quarter of 2015, Blackstone Group had US$ 85.1 billion uninvested, compared to US$ 39.4 billion uninvested in the third quarter of 2014.

Oslo Pensjonsforsikring to Divest Oil and Gas Companies Now

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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