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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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Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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