By Minami Funakoshi
Xerox spun off its business process outsourcing unit in 2016 and separated into two independent, publicly traded companies.
The new fund, which includes approximately $230 million of capital from KKR’s balance sheet and employee commitments, is looking to aggressively invest in real estate by buying properties, raising rents, leasing vacant spaces or redeveloping existing properties.
AVCAL counts about 75 fund managers ranging from small VC funds all the way to larger VC and PE funds based in Australia. It also includes institutional investors such as Australia’s superannuation funds, family offices and sovereign wealth funds.
Abel, 55, the chief executive of Berkshire Hathaway Energy, was named Berkshire’s vice chairman for non-insurance business operations, while Jain, 66, Berkshire’s top insurance executive, was named vice chairman for insurance operations.
Aramco has already obtained a $2 billion loan guaranteed by the UK Export Finance agency (UKEF).
Along with the investment, Takayuki Yasuda, a former CEO for Komeda Co, has joined as a board member of Section Eight.
A broader universe may “enable the fund to be invested in different types of companies to those that are available in the public equity market,” the fund said in a letter to the Finance Ministry.
Questions about HNA’s ownership have attracted the attention of regulators from Australia to Switzerland and the U.S.
The closures follow the sale of its larger U.S. oil trading business to Vitol, announced in October, and a nine-month loss of some $3 billion reported in November.
CHEP Recycled supplies and recycles over 90 million, primarily whitewood, pallets annually in the US and Canada.