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SWFI First Read, October 5, 2015

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P2P Lender Prosper Crosses $5 Billion Goal Mark

San Francisco-based Prosper Marketplace, a peer-to-peer lending network, has surpassed US$ 5 billion in loans originated through their platform since inception. In 2014, Prosper moved across the US$ 2 billion threshold in loan origination, showing an increasingly higher usage of consumers choosing online platforms versus traditional banking.

Adrian Orr Made Chair of IFSWF

In conclusion of the IFSWF Milan meeting, NZ Super Fund Chief Executive Adrian Orr has been appointed Chair. The appointment, which is unpaid, is for a three-year term. Orr was previously IFSWF Deputy Chair. IFSWF aims to promote best practice governance and transparency in the management of sovereign wealth funds.

More Heads Leave Harvard Endowment

Harvard Management Co., the manager of Harvard University’s endowment, said two managers have exited – this is of course after the endowment has posted its annual return. Marco Barrozo, the endowment’s head of fixed income, is leaving. Barrozo joined in 2007 and was one of the highest paid managers, earning US$ 4.8 million in 2013. Satu Parikh, managing director and head of commodities at the endowment, has also left. Parikh was hired by the endowment in 2011.

World Bank Asks for More Money

The President of the World Bank pleaded with countries to increase the institution’s capital base. Jim Yong Kim believes the United Nations’ updated goals will require the bank to use more resources. The World Bank is facing competition from the East, with the rise of China-led Asian Infrastructure Investment Bank (AIIB).

KIC Chief Goes to National Assembly

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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