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Sunday, 4 June 2017

SoftBank Fund in Talks With Canada, Mideast Firms for Cash - Bloomberg

SoftBank Fund in Talks With Canada, Mideast Firms for Cash - Bloomberg:

"SoftBank Group Corp. is in discussions with potential investors in Canada and the Middle East to raise $7 billion of additional capital for its technology fund, according to people familiar with the matter.

The Japanese company is in talks with Canadian pension funds, sovereign wealth funds in Kuwait and Qatar and technology companies, the people said, asking not to be identified as the discussions are ongoing. The new commitments would take the total pool to $100 billion, though there’s no guarantee that the parties will reach an agreement, they said.

The Vision Fund will charge a performance fee of 20 percent and a management fee of 0.5 percent to 1 percent, the people said. That compares to private equity firms, which typically charge 2 percent of the assets they oversee, plus 20 percent of profits. SoftBank plans to hire about 50 people this year to help manage its investments, the people said."



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