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☆ CBC Healthcare secures $875 mln for life science investment in China
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 23 (Reuters) - CBC Healthcare Infrastructure Platform (CBC HIP), an independent life science real assets investor in China, said on Saturday it had secured $875 million for its first life science real assets venture called CLSRA Venture I.Abu Dhabi-based sovereign investor Mubadala Investment Company will join existing investors Dutch pension fund APG Asset Management and Asian healthcare asset management firm CBC Group in CBC HIP, according to a company statement. The inclusion of Mubadala as an investor allows CLSRA Venture I to secure further opportunities in the life science real assets sector in China, CBC HIP said. "We will continue to tap the immense potential of life science real assets as a critical component of China's growing healthcare and life science industry," said Hans Kang, Chief Executive Officer of CBC HIP. CLSRA Venture I has so far deployed $450 million across four real estate projects, according to the statement. Since its establishment in November 2021, CLSRA Venture I has acquired some 520,000 square meters of life science real assets in Shanghai, Beijing and Suzhou in China, it added.

Persons: Hans Kang, Yantoultra Ngui, Subhranshu Sahu Organizations: CBC Healthcare, CBC, CLSRA Venture, Mubadala Investment Company, Asset Management, CBC Group, CBC HIP, Thomson Locations: SINGAPORE, China, Abu Dhabi, Shanghai, Beijing, Suzhou

LONDON, July 28 (Reuters) - French telecoms firm TDF is studying options for its fibre business including a sale, four people familiar with the matter told Reuters, in a deal that could value the fibre unit upwards of 1 billion euros. The sellers are looking for as much as 1.3 billion to 1.6 billion euros for the fibre unit, according to one of the people, a price that buyers may find difficult to swallow. TDF - a former unit of France's leading telecoms operator Orange - provides broadcasting, fibre and telecoms infrastructure with some of its radio antennas sitting on top of the Eiffel Tower in Paris. The fibre unit's EbitdaAL, which deducts the cost of the leases from EBITDA, reached 28.7 million euros last year up from 21.6 million euros a year earlier, while revenues grew 42.8% to 52 million euros, according to TDF’s latest annual results. Two of the sources said the fibre unit's valuation will depend on the number of homes connected to fibre, market penetration and growth rate.

Persons: Brookfield, Sweden's, Les Echos, Andres Gonzalez, Amy, Jo Crowley, Jonathan Oatis Organizations: TDF, Reuters, Brookfield Asset Management, BNP Paribas, BNP, Brookfield, Orange, Eiffel, Sweden's EQT Partners, PSP Investments, APG, Management, Arcus Infrastructure Partners, Agricole, CAA, Thomson Locations: Paris, Europe, TDF, EBITDA

☆ Analysis: Dutch pension fund reform spells investment rethink
▼ + stars: | 2023-06-30 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +6 min

The idea is that pension funds will allocate more risk to younger cohorts and less to those nearer retirement. The new rules also mean pension funds can be less strict in protecting against swings in interest rates and exchange rates using derivatives like swaps. Commerzbank expects a "seismic" change to the market, where Dutch pension funds are key players. Pension funds are surveying their members to understand how much risk different age groups are willing to take. Ultimately, interest rates determine how much risk pension funds need to take to generate future payments.

Persons: Eva Plevier, Wim Barentsen, Frank Vinke, Vinke, Jaap Teerhuis, Commerzbank, Onno Steenbeek, PGGM's Vinke, Achmea's, Gerard Moerman, Yoruk Bahceli, Dhara Ranasinghe, Catherine Evans Organizations: REUTERS, ABN AMRO, European, Achmea Investment Management, European Central Bank, Asset Management, Reuters Graphics, Aegon Asset Management, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM

☆ Top asset manager says pension fund clients are turning skittish on China - 'There is a very real geopolitical risk'
▼ + stars: | 2023-06-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

APG's pension fund clients are more worried about investing in China, the Financial Times reported. That's as geopolitical risk has grown, with China increasingly at odds with the West. "There is a very real geopolitical risk that has been added to the proposition." There is a very real geopolitical risk that has been added to the proposition," he said. The hesitation felt by pension funds towards Chinese assets comes as foreign investors overall have begun moving out of the country at a faster rate.

Persons: —, Thijs Knaap, Knapp, we've, Micron's microchips, Minxin Pei Organizations: Financial Times, Service, APG Asset Management, APG Locations: China, Beijing, Shanghai, Singapore, Europe, That's, Taiwan, Russia

TOKYO, May 28 (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) has recommended that shareholders of Toyota Motor Corp (7203.T) vote in favour of a resolution urging the automaker to improve disclosure of its lobbying related to climate change. ISS in a report also said it regarded three of Toyota's four outside board director nominees as not truly independent. Toyota's board said the fluidity of such disclosure made the proposal unsuitable for enshrining in the articles of incorporation. A spokesperson previously said few firms globally have made climate policy engagement-related disclosure to the extent of Toyota. "Toyota does not provide shareholders with enough information to evaluate its lobbying activities," ISS said.

Toyota's board on Wednesday recommended that shareholders vote against the resolution, to be put to the company's annual general meeting in June. On Wednesday Toyota said it expects a five-fold jump in pure electric vehicle (EV) sales this business year. "We need concrete policy changes and a better annual review drawing on independent data to calm international investors." LONG ENGAGEMENTIt will be the first time that Toyota faces such a climate-related resolution at its annual general meeting, the funds said. It first planned to submit a shareholder proposal in 2021, but withdrew that after it received assurances that Toyota would review its climate lobbying.

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