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SWFI – Movers and Shakers – September 11, 2017

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Washington University Investment Management Company Names New CIO – Scott L. Wilson

Washington University Investment Management Company (WUIMC) appointed Scott L. Wilson as chief investment officer (CIO), effective December 1, 2017. Wilson is currently CIO at Grinnell College. He is succeeding Kimberly G. Walker who stepped down as CIO of WUIMC in 2016. In his current role, Wilson manages the investment strategy for Grinnell’s nearly US$ 2 billion endowment. Wilson’s previous experience also includes positions at Credit Suisse First Boston Equity Research in Chicago; Merrill Lynch Technology Equity Research Group in San Francisco; Bank of America Securities in London and Tokyo; and Barclays Capital Japan, where he served as head of the Asia Interest Rate Option Trading Desk.

J.P. Morgan Asset Management Hires Karen Ward Former HSBC Chief European Economist

J.P. Morgan Asset Management named Karen Ward as chief marketing strategist for Europe and the United Kingdom. She will start in the role at the end of November 2017. Ward replaces Stephanie Flanders who exited in June 2017 for a role at Bloomberg Economics. Karen Ward was previously Chief European Economist at HSBC Global Banking and Markets.

Thomas Poullaouec to Head Multi-Asset Solutions in APAC for T. Rowe Price

Thomas Poullaouec was named as Head of Multi-Asset Solutions in Asia-Pacific for T. Rowe Price. He is based in Hong Kong and report to Peter Austin, the firm’s global head of multi-asset solutions. Poullaouec will remain on the firm’s multi-asset investment team. Poullaouec had roles at State Street Global Advisors (SSgA) and BNP Paribas.

Angeles Investment Advisors Hires Derrick Cruz

Angeles Investment Advisors named Derrick Cruz as Director of Private Markets. He will report to Shana Mulkerin, Partner at Angeles Investment Advisors. Before this role, Cruz was Vice President at Victory Park Capital Advisors.

Trivedi Family Office Hires BlackRock Employee as Director of Investments

Trivedi Family Office, the family office of Ashok Trivedi (founder of Igate), hired Joseph Lloyd as director of investments. Previously, Lloyd was at BlackRock.

Frank Maret Named Head of Marketing at Unigestion

Frank Maret was named Head of Marketing at Unigestion SA. Previously, Maret was Head of Distribution at Canada Life Investments. Maret replaces Jean Francois Hirschel in the role at Unigestion.

Robeco Hires Maureen Beshar

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SWFI First Read, January 19, 2018

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NY Governor Cuomo Seeks to Treat Carried Interest as Ordinary Income for State Taxes

On January 18, 2018, New York Governor Andrew Cuomo revealed he had submitted a bill to the New York State Legislature that seeks to treat carried interest as ordinary income rather than capital gains in regard to state taxes. Governor Cuomo in his press release said that the federal carried interest tax provision costs New York roughly US$ 100 million per year.

William Bain – Bain Founder Passes Away

Dated January 18, 2018, William Bain Jr. passed away at his home in Naples, Florida at the age of 80. Bain started at the Boston Consulting Group and left in 1973 to form Boston-based Bain & Co. By 1984, Bain formed Bain Capital alongside a number of colleagues including former 2012 Republican presidential nominee Mitt Romney. In a statement to the Boston Globe, Romney said, ” It’s hard for me to imagine my life and career without Bill Bain’s mentoring.”

Prostar Capital Gets Controlling Stake in Socar Aurora Fujairah Terminal

Prostar Capital now has a 90% control stake in Socar Aurora Fujairah Terminal FZC by purchasing 100% of the shares of Socar Aurora Terminals S.A. The Prostar Capital entities investing in the asset are Prostar Asia-Pacific Energy Infrastructure Fund and a co-investment fund managed by Prostar Capital for a large U.S. state pension plan. The storage terminals acquired in the Port of Fujairah in the United Arab Emirates.

Socar Aurora Fujairah Terminal FZC is a joint venture between State Oil Company of Azerbaijan Republic (SOCAR), Swiss-based commodity trader AURORA Progress, and the Government of Fujairah.

Prostar Capital started buying the terminal back in 2013 at 18.6%. The private equity firm eventually moved its ownership up to 40% on August 14, 2015.

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ISIF Plans to Back 20 Solar Farms in Ireland

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The Ireland Strategic Investment Fund (ISIF) and Hamburg-based Capital Stage, a solar and wind park operator, are financially backing the development of 20 solar farms in Ireland which has an estimated cost at €140 million. ISIF is funding 25% of the costs, with Capital Stage providing 75% of the costs.

The generation capacity is estimated at 140 MW, with each farm ranging between 5 MW to 25 MW. The majority of the solar farms will be located along the east and south-west coasts of Ireland. Power Capital, a Dublin-based energy company formed by Peter Duff and Justin Brown in 2011, is overseeing the developments.

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PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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