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SWFI – Movers and Shakers – October 6, 2015

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Principal Global Investors Eyes Sovereign Wealth Funds, Hires Antoncic

Principal Global Investors, part of financial giant Principal Financial Group, hired Madelyn Antoncic as executive director for institutional investment solutions. She will be based out of New York and report to Jim McCaughan, Principal Global Investors’ CEO. Principal Global Investors is seeking to build tighter bonds with sovereign wealth funds, large pensions, central banks and other asset owners. Before this role, Antoncic was at the World Bank, serving as vice president and treasurer, managing US$ 140 billion in assets, as well as the World Bank Group’s pensions. Antoncic had stints at Barclays Capital, Lehman Brothers and Goldman Sachs. She started her career at The Federal Reserve Bank of New York.

Norway’s SWF Scoops Former ADIA Associate

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, hired Guilain Decrop to be an investment manager for French real estate. This role is based in London. Before that role, he was an associate at the Abu Dhabi Investment Authority. Before ADIA, he spent over three years at LaSalle Investment Management.

ADIA Tax Executive Leaves for PwC

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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