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SWFI First Read, September 25, 2017

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Hellman & Friedman Pole for Nets A/S with GIC Help

Private equity firm Hellman & Friedman LLC finalized a deal, partnering with GIC Private Limited, to acquire Copenhagen-based Nets A/S, the biggest payment processor in the Nordic region, in a 31.1 billion DKK (US$ 5.3 billion) buyout. Some of Nets largest shareholders are private equity firms Bain Capital and Advent International. Bain Capital and Advent International are re-investing into the transaction and will have a 16% minority stake post-deal.

The financial advisor for Nets is JPMorgan. Morgan Stanley, Deutsche Bank, MHS Corporate Finance and Bank of America Merrill Lynch are the financial advisors for Hellman & Friedman. The legal advisors for Hellman & Friedman are Freshfields Bruckhaus Deringer, Kromann Reumert and Thommessen and Latham & Watkins.

In 2014, Bain Capital, Advent International and ATP acquired Nets for 17 billion DKK.

Euroclear Hires Guillaume Eliet

Euroclear hired Guillaume Eliet as head of regulatory, compliance and public affairs. This is a new role. Previously, Eliet was at the Autorité des marchés financiers (AMF) most recently serving as deputy general secretary. Eliet oversaw the regulation policy and international affairs division at AMF. At Euroclear, Eliet will report to Lieve Mostrey and Inge Boets.

Postal Savings Bank of China Moving Toward $7.25 Billion Preferred Offering

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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