RSS feedCIC
’Further reading
Elsewhere on Monday,
“The 12 members of the UBS board palpably failed in their fiduciary duties; that only the chairman has so far left is ridiculous.”
Just in… reports that UBS is prepared to sell its investment banking business.
China buys 1.6% stake in Total
The body that manages the bulk of China’s $1,650bn in forex reserves has bought a 1.6% stake in France’s Total, in a sign of its aggressive investment strategy. China’s State Administration of Foreign Exchange,
China banks turn down Dresdner deal
China’s top financial institutions, including its sovereign wealth fund China Investment Corp, rejected reports they were considering the purchase of Allianz’s Dresdner bank, citing investment risk and political problems as key concerns,
Pity the sovereign wealth fund
Oh dear. Sovereign wealth hysteria reaches Europe. This is most disappointing.
The backlash against the backlash against sovereign wealth funds is just getting going, but it has previously been across the Atlantic where the most outrageous mud-slinging and scare-mongering about the terrible threat of foreigners bearing cash has been found.
CIC nears fund deal with JC Flowers
China Investment Corporation, the Chinese sovereign wealth fund, is close to an agreement with JC Flowers, the US buyout group, to put about $4bn into a new fund to invest in ailing financial institutions.
FT analysis: Silence not necessarily golden for sovereign funds
Sovereign wealth funds are suddenly the capital provider of first and last resort for ailing US financial institutions, investing at least $30bn in some of Wall Street’s biggest banks and brokerages, writes the FT’s Henny Sender in an FT analysis on Friday.
Sovereign funds on executive recruitment drives
Sovereign wealth funds are being forced to offer more generous remuneration and hire headhunters in their drive to attract top-notch executives to help deploy their investments. Financial sector specialists believe the more aggressive tactics will help SWFs poach some of the most talented executives from western private equity and investment firms.
Temasek eyes stake in Merrill
Merrill Lynch, facing the likelihood of billions of dollars in additional Q4 mortgage-related write-downs, is expected to become the latest financial firm to get a capital infusion from an Asian government investment fund,
Sovereign wealth fun, Chinese style
In a display of what we suspect is the growing sophistication of China’s sovereign wealth savvy, the country’s newly established sovereign wealth fund, China Investment Corp, is on a massive recruitment drive for investment talent.