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Temasek to Sell Stake in Danamon to DBS Group Holdings Ltd

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Piyush Gupta

Asian holdings make up a major portion of Temasek’s investment portfolio. DBS Group Holdings Ltd. (DBS) will purchase PT Bank Danamon Indonesia for 45.2 trillion rupiah ($4.9 billion) from Temasek Holdings for its 67% stake. The bank stake is held by Temasek’s sovereign wealth enterprise (SWE) Fullerton Financial Holdings Pte. This is one of the largest banking takeovers in Southeast Asia in over a decade. Temasek has held this investment in Danamon for a long time starting in June 2003 in a deal with Deutsche Bank AG.

DBS plans a bid to purchase the rest of the Asian lender. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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