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SWFI First Read, September 20, 2016

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Russian Reserve Fund Faces Depletion

Russia’s Reserve Fund could be used up by the middle of 2017. The Russian government is burning through its foreign exchange reserves, as oil prices remain low for the country.

SWF-Backed Greenko to Buy Some Assets of SunEdison India

Hyderabad-based Greenko is buying some 438MW of operating assets from the financially-troubled renewables company SunEdison’s India unit. The assets are valued at an enterprise value of US$ 315 million. The assets include a 390 MW solar power portfolio and 48MW worth of wind parks. The equity value of the assets are around US$ 30 million in equity, with the remaining part debt. Greenko is financially backed by Singapore’s GIC Private Limited. The Abu Dhabi Investment Authority (ADIA) is an investor in Greenko.

Oman State Entities Form Innovation Development Oman Holding

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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State Street to Buy Charles River Systems

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State Street Corporation inked a deal to acquire Charles River Systems, Inc. (Charles River Development), a provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Burlington, Massachusetts-based Charles River Development in an all-cash transaction for US$ 2.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FINMA Announces Rothschild Bank Broke Anti-Money Laundering Rules over 1MDB Fiasco

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The Rothschild Bank AG and one of its units called Rothschild Trust (Schweiz) AG got slapped with serious violations of anti-money laundering in regard to the 1MDB scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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