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UAE, France to Launch US$ 414 Million Fund

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Abu Dhabi-based sovereign wealth fund Mubadala Development Company and French state investor CDC International inked an agreement in Paris on Tuesday to start a €300 million (US$ 414 million) joint investment fund. Each institutional investor pledged an initial commitment of €150 million (US$ 207 million).

The management team for the new and currently unnamed co-investment fund will consist of senior personnel from both institutions, according to The National. The UAE newspaper pointed to property and infrastructure as asset classes in which the fund would invest, but its top priority will be private equity.

The deal highlights how Mubadala’s investment strategy is shifting gears. Mubadala is ramping up investment activity in mature markets like the U.S. and Europe, lessening its concentration off of emerging economies.

CDC International is a newly created investment branch of France’s public investor Caisse des Dépôts. The US$ 200 billion institutional investor created CDC to pursue the formation of bilateral and multilateral investment vehicles with sovereign wealth funds to support long-term financing and improve competitiveness of the French economy.

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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