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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

1MDB’s Latest Act: Two Obama Fundraisers, One Fugee and $69 Million

Posted on 16 November 2015

The sprawling web of investments by a Malaysian government fund at the center of a corruption probe now includes two former fundraisers for President Barack Obama and a hip-hop superstar. The fund, 1Malaysia Development Bhd., paid private-equity group DuSable Capital Management LLC $69 million to buy its stake in a joint venture to develop solar power plants in the Southeast Asian country, the two sides said Wednesday.
The parties had signed an agreement in April 2014 giving DuSable a 49% stake, but 1MDB agreed to buy out the firm six months later, before construction had begun on any project, they said………………………………………..Full Article: Source


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