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Temasek Holdings Opens New York Office

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New-York sovereign wealth fund

Singapore Prime Minister Lee Hsien Loong is wrapping up his U.S. trip, stopping by to assist in opening Temasek’s new New York Office. The New York office will complement the sovereign wealth fund’s offices in Mexico City and São Paulo. Temasek joins it counterpart GIC Private Limited in having a New York presence. The office celebration event was held at the Waldorf-Astoria hotel. With approximately 270 guests including JPMorgan Chase chief executive Jamie Dimon and CEO of Temasek Ho Ching, the event comprised of many corporate executives.

In his remarks, Singapore PM Lee mentioned that Temasek’s interests are in line with Singapore’s broad connections with the United States. He reiterated that Singapore is either an Asian or regional headquarters for over 2,000 U.S. companies.

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Lim Boon Heng, chairman of Temasek Holdings said in a press release, “Our New York office will work closely with our offices in Mexico City and Sao Paolo in Brazil to cover the Americas, both north and south. They complement our London office which was established in March this year to cover Europe and Africa. We look to both of them to provide a lift for our portfolio beyond Asia for the longer term.”

Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

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The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

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Follow the Money – Episode 48

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This long-form podcast was recorded on December 11, 2018. Michael Maduell dissects the latest geopolitical trends that can impact institutional investors such as pensions, sovereign wealth funds, and endowments. Maduell lends his opinion on the lawsuit of Neiman Marcus and bumps in the road for augmented reality.

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CONTENTS
1:15 Huawei, Canada, Brexit, and Macron Headache
6:30 Sovereign Wealth Fund Asset Allocation
9:58 India Gets a New Central Bank Governor
13:26 Pensions Go Bust on U.S. Retailers
17:04 Augmented Reality and Sovereign Funds
22:00 Former CalPERS CIO Goes to Morgan Stanley Investment Management
24:30 Oman Investment Fund Goes on Defense in Public Markets
25:00 Japanese Scandals and Opportunities

EPISODE 48

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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Danica Pensions Sells Danica Pension Sweden

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Danica Pension sold Danske Pension Försikringsaktiebolag (publ) (also known as Danica Pension Sweden) to a group of investors for around 2.6 billion SEK. Danica Pension is part of Danske Bank A/S. Of the total amount, 2.3 billion SEK is being paid in cash, while the rest is in the form of a debt instrument from Danica Pension.

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