 |
Sovereign Wealth Funds: Love and Loathing in the Financial Markets
Introduction
In early June 2008, Kuwait Investment Authority (KIA), a Kuwaiti Sovereign Wealth Fund (SWF), announced that it might invest further in Citigroup Inc. (Citigroup)7 and Merrill Lynch & Company Inc. (Merrill Lynch).8 Earlier in January 2008, the fund had invested in these two financial institutions, when they sought to increase their capital and strengthen their balance sheets following massive losses due to the sub prime crisis9. ... |
|
Later in June 2008, when the question was raised whether KIA was planning to raise its stakes in these companies, Bader Al-Sa'ad, managing director of the fund, said, "In Citi or Merrill, if there is good opportunity, we will look into it.
Introduction Contd...- Next Page>>
