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UK Chancellor Osborne Confirms Sovereign Wealth Fund

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UK Chancellor of the Exchequer George Osborne, in his Autumn Statement 2014 said, “we’re announcing a new Sovereign Wealth Fund for the North of England so that the shale gas resources of the North are used to invest in the future of the North.”

To read the full speech, click here

The sovereign wealth fund plan was debated in the House of Lords. In Lancashire, Cheshire, Merseyside and Greater Manchester, test drilling licenses have been granted. UK Energy and climate change secretary Ed Davey said the sovereign fund will be formed once shale gas extraction begins.

Blackstone and Goldman Invest in Francisco Partners

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Larger alternative investment houses and banks are taking ownership stakes in specialist private equity firms. On July 13, 2018, Blackstone Group’s Strategic Capital Group and Goldman Sachs Asset Management’s Petershill program acquired a minority stake in San Francisco-based Francisco Partners. Francisco Partners is a private equity firm focused on tech-related companies, competing against Thoma Bravo, BC Partners, Vista Equity Partners, Bain Capital and other specialists.

Dipanjan (DJ) Deb is the Co-Founder and CEO of Francisco Partners. Before forming the company in 1999, he was a Principal at Texas Pacific Group (TPG).

Advisors

Francisco Partners was advised by Evercore and Kirkland & Ellis LLP. Simpson Thacher served as legal counsel to Blackstone and Fried Frank served as legal counsel to Goldman Sachs.

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GE Joins Mitsubishi and Summit Power on Bangladesh Thermal and LNG Massive Development

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General Electric, Japan-based Mitsubishi Corporation, and Bangladesh-based Summit Power Limited formed a joint venture to invest and construct a US$ 3 billion thermal power plant with a capacity of 2,400 megawatts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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