HANGZHOU, China, June 16, 2024 /PRNewswire/ — On June 7, 2024, Dr. Ji Xiaofen, Director of the China National Silk Museum, and Ms. Léa Herlet, representative of the Musées Gadagne (Musée d’Histoire de Lyon), France together with other guests co-launched a new exhibition — “Lyon in the 18th century: the Prosperity of the Silk Capital in the Age of Enlightenment” — running from June 7 to September 6, 2024, in Hangzhou, jointly curated by the China National Silk Museum and the Musées Gadagne (Musée d’Histoire de Lyon), France.

The exhibition is divided into two sections: “Lyon city in the 18^th century” and “the Great Lyonnais Silk”, presenting 36 sets/pieces of architectural models, silk fabrics, clothing, portraits and ceramics. The exhibition illustrates France’s socio-economic thoughts and fashion advancements. It also highlights cultural exchanges between China and the West, featuring Chinese elements in Western painting and clothing.

Through this exhibition, the Chinese audience can gain a deeper understanding of the love that the Hungarian aristocracy of the 16^th and 17^th centuries had for silk, jewelry and a decadent lifestyle. Although silk originates from China, the beauty and exquisite craftsmanship of silk can be widely seen along the Silk Road and thus appreciated and shared by Eastern and Western cultures alike.

The cultural exchanges between China and France have a long history. As early as the end of the 17th century, Emperor Kangxi of the Qing Dynasty and King Louis XIV of France began exchanging books and gifts. During the Kangxi and Qianlong periods, French missionaries introduced China to France through letters and other means, sparking a “China fever” in French society. The French society, from the courts to the public, was fascinated by Chinese culture, and the influence of Chinese culture in France was incomparable to that of other European countries. It is against this background that the exchange of Chinese and French silk culture has been developing for centuries.

During the opening ceremony, the China National Silk Museum also held the press conference for the 2024 Silk Road Week which is going to be launched on June 19 with the theme of “The Silk Roads: Roads Connect, Civilizations Blossom”. This year the guest country will be France, so as well as the silk exhibition, China National Silk Museum will also bring a silk culture and costume exhibition to France in October. After the opening ceremony, Ms. Zhu Yao, dressed like a lady of the 18th century, gave a guided tour of the exhibition to the attending media. 

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Fisher Investments’ Founder Ken Fisher Maintains Majority Controlling Interest

PLANO, Texas, June 16, 2024 /PRNewswire/ — Fisher Investments (“FI”) announced today that Advent International (“Advent”) and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) have agreed to make a minority investment in Ken Fisher’s namesake firm, Fisher Investments. The investment by Advent and ADIA of at least $2.5 billion and up to $3 billion values FI at $12.75 billion. Following closing, which is expected to occur later this year, Ken Fisher will remain active in his current role as FI’s Executive Chairman and Co-Chief Investment Officer, and FI management led by CEO Damian Ornani will continue to drive the company. The investment will not impact FI’s clients, employees or day-to-day operations. Completion of the transaction is subject to certain approvals and the satisfaction of other customary closing conditions.

The transaction was part of Ken Fisher’s long-term estate planning and allows FI under the leadership of Damian Ornani the ability to continue operating as an independent privately held investment adviser, wealth and asset management firm. FI manages over $275 billion for over 150,000 clients globally, including 120,000 US private clients and 185 of the world’s largest and most well-known institutional clients. An additional distinguishing feature of FI is its substantial international institutional and high net worth operations—currently serving over 30,000 private clients across 16 countries and offices on four continents, with plans to continue expanding its global footprint.

Ken Fisher, the Founder and Executive Chairman of FI, will sell personal holdings in FI to Advent-managed funds and ADIA. For Advent and ADIA, the deal was an opportunity for a long-term investment in one of the world’s largest investment advisers. Investors in the Advent vehicles include Lunate Capital Limited managed funds, Mousse Partners, and FI’s longtime largest institutional client, South Korea’s National Pension Service (NPS). This is the first outside investment in FI, with previous FI ownership solely among family and employees. After the transaction closes, Ken Fisher will retain a majority of beneficial ownership and of voting shares exceeding 70%. There is no further FI investment transaction contemplated. The investment in common shares includes neither options nor non-common stock preferences and includes proportional voting to the investors’ beneficial ownership. Upon closing, David Mussafer, Managing Partner at Advent will join the board of directors at FI.

Damian Ornani, longtime FI CEO, said, “This transaction gives us the independent runway with truly exceptional institutional investors who can bring us their wisdom, value our unique culture and goals, and want us to keep doing what we’ve always done, bigger and better, while pioneering never yet done solutions to benefit our clients and employees.”

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Ken Fisher said, “This transaction is aimed dually at estate tax and planning purposes while assuring that FI will maintain its traditional culture, growth evolution and devotion to exceptional client service. FI has been my life. While my health is excellent, this transaction with an atypically long holding period for a private equity transaction will ensure FI’s long-term private independence and culture should anything untoward happen to me. And, we will have the support of world class partners who understand us operationally and culturally, and value what we are and will be.”

David Mussafer, Managing Partner at Advent said, “We are excited to be backing one of the top brands in financial services that is trusted by its clients for its personalized approach towards wealth management. Ken, Damian, and the rest of the management team have built a tremendous organization over the past 45 years. We’re honored to partner with them in supporting FI’s next phase of growth while upholding the company’s unique culture that is core to its success.”

J.P. Morgan Securities LLC and RBC Capital Markets served as joint financial advisors and Paul Hastings served as legal advisor to FI in this transaction. Ropes & Gray served as legal advisor to Advent. Gibson Dunn served as legal advisor to ADIA.

About Fisher Investments
Founded in 1979, Fisher Investments is an independent, fee-only investment adviser. Fisher Investments and its subsidiaries manage over $275 billion across three principal businesses—Institutional, US Private Client, and Private Client International. Founder and Executive Chairman Ken Fisher wrote the Forbes “Portfolio Strategy” column for 32 ½ years until 2017, making him the longest running columnist in its history. He now writes monthly for the New York Post and discreet unique columns in native language, varying by country, in 25 major nations, spanning more countries and more total volume than any other columnist of any type in history. Ken has appeared regularly on major TV news like Fox Business and News, BBN Bloomberg and CNN International. Ken has written 11 investing and finance books, including four New York Times bestsellers. For more information, visit www.fisherinvestments.com.

About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 420 private equity investments across 43 countries, and as of December 31, 2023, had $94 billion in assets under management.* With 15 offices in 12 countries, Advent has established a globally integrated team of over 300 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer, and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international
* Assets under management include assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About Abu Dhabi Investment Authority  
Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information, visit www.adia.ae.

Media Contacts:
For Fisher Investments
Naj Srinivas
Executive Vice President, Corporate Communications
[email protected]

For Advent International
Leslie Shribman
Head of Communications
[email protected] 

For ADIA
Garry Nickson
ADIA Corporate Communications & Public Affairs
[email protected]

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CLI continues to intensify efforts to reduce Scope 1 and 2 emissions through on-ground actions and innovation 

SINGAPORE, June 15, 2024 /PRNewswire/ — CapitaLand Investment Limited (CLI) has incorporated three new Scope 3 categories deemed material to its operations – Purchased goods and operations, Fuel- and energy-related activities, and Upstream transportation and distribution – and expanded the scope of the Capital goods category following the latest review of its full inventory of Scope 3 emissions, emissions hotspots and key decarbonisation levers across its value chain, as detailed in its 15^th Global Sustainability Report. CLI also bolstered its reporting in existing categories, such as tenant consumption, enabling improved initiatives with tenants and the supply chains. The widened scope reaffirms CLI’s commitment to action on its sustainability targets and a focused execution progress charted by its 2030 Sustainability Master Plan (SMP).

Mr Vinamra Srivastava, CLI’s Chief Sustainability and Sustainable Investments Officer, said: “Tightening our focus on Scope 3 emissions is crucial because they account for the majority of CLI’s total greenhouse gas emissions. With tenant emissions being the largest contributor to Scope 3, we are pleased that we have increased green leases with tenants in China and Singapore to 57% as at end Dec 2023 from 43% a year ago, and we’ll continue to do so globally.  We are stepping up collaboration with tenants and working to strengthen our supply chain management through various initiatives such as piloting sustainable building innovations crowdsourced from our global CapitaLand Sustainability X Challenge (CSXC) and deploying a series of environmental, social and governance (ESG)-related capability-building programmes for selected critical suppliers in a third-party due diligence ESG check we commissioned.  In 2023, upon completion of the programme, these supply chain vendors achieved an improved ESG score.  Our continuous focus on sustainability through on-the-ground actions and reporting addresses our vision of being the preferred global real asset manager creating sustainable positive impact.”

Intensified efforts to reduce Scope 1 and 2 emissions

In addition to expanding its Scope 3 emissions disclosures, the report highlights its progress in reducing its Scope 1 and 2 emissions intensity and managing climate-related risks as it strives towards its Net Zero targets.  It expanded its renewable energy deployment by commissioning its first captive 21-megawatt solar power plant in Tamil Nadu, India, to power its assets there.  The expanded use of green energy to 44 properties in Singapore, China, India, Australia, Belgium, Germany, India, Japan, Indonesia and the United Kingdom, as well as ten business parks in India, also mitigated a total of 41,000 tonnes of carbon emissions, equivalent to the annual emissions of over 8,900 petrol-powered cars. CLI will continue to scale up its renewable procurement efforts, further advancing its transition to clean energy sources and reducing the carbon footprint of its assets.

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Through asset enhancement initiatives (AEIs), CLI achieved a 13.4% energy intensity reduction against 2019 despite a growing portfolio.  With 60% of buildings in its global portfolio attaining green ratings in 2023, CLI targets to achieve 100% certification by 2030.  Furthermore, 46% of CLI’s properties were certified LEED Gold and above or equivalent.

Earlier this year, CLI also published its first Climate Resilience Report based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The report incorporates a climate scenario analysis of 480 properties across 20 countries and various asset classes, emphasising CLI’s recognition and transparency regarding the urgency of climate action.

Innovation as a key lever in the decarbonisation journey

In 2023, CLI partnered with tenants for the first time to testbed innovations from its CSXC at their premises.  CSXC has seen more pilots focusing on reducing energy and water consumption.  Ten shortlisted innovations from CSXC 2023 are being piloted in four countries, bringing the total tally to 30 innovations across seven countries since 2021.  Initiatives such as the CSXC and the CapitaLand Innovation Fund (CIF) demonstrate how innovation and sustainability partnerships play a key role in CLI’s decarbonisation journey.

Leadership in fund management and sustainable finance

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As CLI pivots towards global real asset management, it is committed to integrating ESG considerations into every stage of its fund management lifecycle.  Guided by the 2030 SMP, CLI develops customised ESG strategies that ensure funds adhere to the highest standards of responsible investing—from fund product development to capital raising, investments, asset management and exits. CLI conducts a comprehensive Environment, Health, and Safety (EHS) Impact Assessment for every new investment to ensure sufficient capital expenditure is allocated to the identified asset to attain the desired ESG outcomes.

CLI aims to be a leader in sustainable finance, which is made possible through valued strategic partnerships with financial partners.  In 2023, CLI and its listed real estate investment trusts (REITs) and business trusts secured S$4.5 billion in sustainable finance, bringing the total to S$16.1 billion since 2018.  Interest savings from sustainability-linked loans were channelled back into decarbonisation investments.

CLI’s carbon mitigation efforts recognised by leading global indices

Through strategic initiatives aimed at reducing its carbon footprint across its operations, implementing innovative solutions, and embracing renewable energy sources, CLI has significantly mitigated its environmental impact while enhancing operational efficiency.  These proactive measures, alongside efforts taken to publish robust reports detailing actions and findings, have earned CapitaLand recognition in prestigious global sustainability indices such as the Dow Jones Sustainability World Index for the 12^th year and achieved a five-star rating from GRESB Real Estate Assessment for eight years. Such inclusion underscores CLI’s dedication to environmental stewardship and reinforces its position as a frontrunner in the sustainable real asset management sector.

About CapitaLand Investment Limited (www.capitalandinvest.com)

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Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 31 March 2024, CLI had S$134 billion of assets under management as well as S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA.  Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and commercial management, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm. 

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050.  CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Follow @CapitaLand on social media

Facebook: @capitaland / facebook.com/capitaland
Instagram: @capitaland / instagram.com/capitaland
Twitter: @capitaLand / twitter.com/capitaland
LinkedIn: linkedin.com/company/capitaland-limited
YouTube: youtube.com/capitaland  

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Issued by:      CapitaLand Investment Limited (Co.  Regn.: 200308451M)

Important Notice

This announcement and the information contained herein does not constitute and is not intended to constitute an offering of any investment product to, or solicitation of, investors in any jurisdiction where such offering or solicitation would not be permitted.

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