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Top 10 Sovereign Wealth Fund Game-Changers of 2010

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SWFI_logo_122010 was the comeback year for sovereign funds in terms of investments and asset value growth. We’ve seen expanded cooperation among sovereign funds in investing. Our staff has compiled a list of the top ten game-changers that will set the tone for SWFs in 2011.

10.) Sovereign Wealth Funds will continue to shed Western Financial Institutions

Sovereign funds bailed out Citigroup, Merrill Lynch, Morgan Stanley, Barclays, UBS, etc. during the dreadful financial crisis of 2007 and 2008. In 2010, several funds exited their investments in Western banks and looked toward their smaller Eastern counterparts, such as the Agricultural Bank of China.

9.) UK Infrastructure – Airport Gatwick

UK Infrastructure was an attractive sector of investment in 2010. Australia’s Future Fund and the Abu Dhabi Investment Authority own a piece of the UK’s second largest airport. Airport Gatwick is the world’s busiest single runway airport.

8.) China’s Foreign Exchange Reserves continue to grow

At the end of September, China had $2.648 trillion in gold and foreign reserves. This is a 16.5% increase from the end of September 2009. Our staff believes, China will either pump more funds into the CIC, or perhaps fund another similar entity.

7.) Some love PIIGS, some don’t want all the trimmings

Russia’s National Welfare Fund shunned sovereign debt in Portugal, Greece, and Spain. A number of the Asian SWFs lowered allocation towards these fixed income markets, while Norway’s GPFG embraced it. Did someone whisper austerity?

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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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