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SWFI First Read, October 3, 2016

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Former Fed Chairman Greenspan to Serve as an Economic Advisor to Advisors Capital Management

Ridgewood, New Jersey-based Advisors Capital Management, LLC has hired former Federal Reserve Chairman Alan Greenspan, to serve as an economic adviser. Greenspan served as Federal Reserve Chairman from 1987 to 2006. Greenspan has also been an advisor to hedge fund Paulson & Co.

OCBC Bank Has a New Head of Corporate Banking

OCBC Bank named Elaine Lam Su Yen to be the bank’s head of global corporate banking. Lam joined the bank 15 years ago, last as Head of Wholesale Corporate Banking at OCBC. She replaces George Lee who is retiring after 16 years at OCBC. Before joining OCBC, she had roles at ABN Amro Bank and UOB Bank.

GIC and CPPIB Eye Marketcity Development in Bengaluru

Singapore’s GIC Private Limited and the Canada Pension Plan Investment Board (CPPIB) have entered in bids to acquire a 50% stake in Marketcity, a mixed-use real estate development in Bengaluru, India. The Marketcity project is valued at around Rs 1,000 crore and is owned by Phoenix Mills. Recently, GIC acquired a 50% stake in a Viviana Mall in Thane, close to Mumbai, for Rs 350 crore.

BOJ’s Tankan Survey Tells No Improvement in Large Manufacturers’ Sentiment

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PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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