💰SWF – Sovereign Wealth Fund
BlackRock, Soros and SWFs Eye DB Asset Management Unit
Deutsche Bank AG is gaining traction on the spin out of its asset management unit known now as DWS – seeking to list around 25% of the unit’s shares on the Frankfurt stock exchange.
Among interest cornerstone investors for the asset management unit include
Japanese insurer Nippon Life,
BlackRock,
George Soros,
Temasek Holdings and Saudi Arabia’s Public Investment Fund (PIF).
Some of the largest shareholders in Deutsche Bank include HNA Group and the Qatari royal family – which are not expected to invest in the IPO of the asset management unit or at least in a significant part.
SWFI – Sovereign Wealth Fund Institute
https://www.swfinstitute.org/swf-news/swfs-eye-investment-in-db-asset-management-unit/
Saudi Arabia Public Investment Fund Invests in Magic Leap
Saudi Arabia’s Public Investment Fund (PIF) made the jump and is investing in Plantation, Florida-based Magic Leap, Inc. in a Series D round.
SWFI – Sovereign Wealth Fund Institute
https://www.swfinstitute.org/swf-news/saudi-arabia-public-investment-fund-invests-in-magic-leap/
South Korean Insurers to Buy 20% of UK Roadway Operator Connect Plus
In the latest play on U.K. infrastructure, South Korean institutional investors are purchasing a 20% stake in Connect Plus – operator of London’s massive M25 concentric motorway – for £184 million (US$ 255 million) from local infrastructure group Balfour Beatty plc.
Connect Plus was awarded a £6.2 billion, 30-year government contract to expand and maintain the 188-kilometer roadway in 2009.
SWFI – Sovereign Wealth Fund Institute