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Under Pressure to Raise Capital, ANZ Sells Pension Business to IOOF

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IOOF Holdings Ltd (IOOF) agreed to acquire Australia and New Zealand Banking Group Ltd’s (ANZ) OnePath pensions and investment unit and four aligned dealer groups – collectively known as ANZ Wealth Management – for A$ 975 million (US$ 766 million) in a deal expected to close within the next 12 months.

The transaction will substantially increase the scale of IOOF’s platform with ANZ’s team of 717 financial advisors, A$ 19.5 billion in assets under advisement, and A$ 46.6 billion in assets under administration, positioning IOOF to become Australia’s second largest advice business and its fifth largest platform provider, according to a presentation on the deal.

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CalPERS CFO Out over Questions on Resume from Media

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Charles Asubonten has exited as Chief Financial Officer of the California Public Employees’ Retirement System (CalPERS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Court Dismisses Charges on Barclays Qatar Loan Deal

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Barclays can breathe some fresh air for now over a high-profile corporate case. In February 2018, the U.K. Serious Fraud Office (SFO) had brought charges against Barclays and Barclays Bank in regard to the capital raising deals made in 2008. The bank could have lost its banking license, if found guilty of the charges. A number of bank executives were personally charged as well.

The Charges

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Mubadala Participates in PLT Platform Expansion

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The Russian Direct Investment Fund (RDIF) corralled a number of Middle Eastern funds, including the Mubadala Investment Company, to augment investment exposure to a logistics infrastructure investment platform called Professional Logistics Technologies (PLT). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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