💰SWF – Sovereign Wealth Fund
CDPQ Gains Stake in GSE Environmental Through Groupe Solmax.
Canadian geomembrane producer Groupe Solmax Inc. has acquired a majority stake in its Houston-based rival, GSE Environmental Inc., from Littlejohn & Co., LLC and Strategic Value Partners, LLC, under undisclosed terms.
The two private investment firms, both of which are based out of Connecticut, acquired GSE after the company sought bankruptcy in 2014.
Caisse de dépôt et placement du Québec (CDPQ) and development capital firm Fonds de solidarité FTQ provided financing on the transaction, earning them minority equity positions in GSE.
https://www.swfinstitute.org/swf-news/cdpq-gains-stake-in-gse-environmental-through-groupe-solmax/
FINMA Slaps JPMorgan’s Hand over 1MDB Scandal
The Swiss Financial Market Supervisory Authority (FINMA) stated the Swiss unit of JPMorgan Chase & Co. seriously breached anti-money laundering rules relating to 1Malaysia Development Bhd (1MDB), the Malaysian sovereign investor that lies in the middle of a worldwide embezzlement scandal.
https://www.swfinstitute.org/swf-news/finma-slaps-jpmorgans-hand-over-1mdb-scandal/