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Temasek Inks Deal to Invest in Indonesian Retail Giant

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Singapore’s Temasek Holdings is keen on following their four investment themes. Indonesia with its economic growth is growing an affluent middle class.

Anderson Investments Pte Ltd., a sovereign wealth enterprise of Temasek Holdings, signed an exchangeable rights subscription agreement with PT Multipolar. PT Multipolar is an Indonesian investment company and the majority shareholder in PT Matahari Putra Prima. The Lippo Group, owned by the Riady family, owns PT Multipolar.

Anderson Investments paid 2.9 trillion rupiah (US$300 million) for the rights which can be converted into a 26.1% stake in listed company PT Matahari Putra Prima which operates retail hypermarkets in 52 Indonesian cities. PT Multipolar will maintain its 50.2% stake in the retailer.

Trump Goes Across the Political Aisle to Nominate Nellie Liang to Federal Reserve Board

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U.S. President Trump nominated Nellie Liang to the Federal Reserve Board of Governors. She is a long-time staff member of the Federal Reserve, joining in 1986 as a research economist. Liang must still be confirmed by the U.S. Senate pending the job post. She is a graduate of University of Notre Dame in 1979 and received her doctorate from the University of Maryland in 1986.

Ms. Liang is a registered Democrat.

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Ivanhoé Cambridge to Acquire Callahan Capital Properties

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Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), signed a deal to acquire Callahan Capital Properties (CCP). Eastdil Secured advised on the transaction. CCP is Ivanhoé Cambridge’s investment partner of six years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Manager of China’s Foreign Reserves Could be CalPERS Next CIO

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Numerous financial media outlets, including the Wall Street Journal (WSJ), are reporting that Ben Meng is in key position to become Chief Investment Officer of CalPERS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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