SWFs in the News: Fallout, Saying No to Lehman, and Abu Dhabi

By Brett Keller

Wayne Murphy at The National: “Barclays pulls out of Lehman sales talk”

Also apparently standing on the sidelines of the Lehman debacle are the world’s sovereign wealth funds, which devoted billions from their massive and still-growing pools of capital to shoring up the likes of Citigroup, Merrill Lynch and Morgan Stanley, only to see the value of their investments plummet as the financial crisis widened… “The sovereign wealth funds have decided they’re not going to come to the rescue of every embattled financial institution,” said John Habib, a lawyer for Washington firm Kalbian Hagerty in Abu Dhabi.

Paul Murphy at FT Alphaville: “A cataclysmic financial finale,” appropriately accompanied by Goya’s Saturn Devouring His Son.

Lehman Brothers expected to file for Chapter 7 liquidation before midnight NY time…Bank of America reportedly in talks to take over Merrill Lynch…AIG to unveil survival plan in emergency conference call on Monday…. and if there is one factor that has marked this weekend as perhaps the point at which this 15 month crisis finally came to a head, it is the cold realisation by the US Treasury and Federal Reserve that they could not continue to bear losses that in a market economy should be borne by those taking the risks.

h/t SWF Radar

Middle East North Africa Financial Network: “Abu Dhabi fund plans Australia expansion”:

Adia’s latest Australian foray was its purchase this week of an $223 million stake in an office tower project in Sydney, The National daily quoted sources as saying. The project, called Darling Walk, is part of a string of investments in Australia by Adia in the past year, the newspaper said.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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