Weekend Reading

Ashby Monk

Katharina Pistor has written a paper entitled, “Banking reform in the Chinese Mirror.”

I thought it was pretty interesting.  While the focus of the paper is on the governance of financial relations in China, it does provide quite a bit of detail on some SWF transactions, including the now (in)famous 2007 CIC-Blackstone and CIC-Morgan Stanley transactions. She also offers up some intersting insights:

“In 2005-06, Western banks queued for acquiring minority stakes in China’s state-controlled banks. Only two years later, Western banks found themselves queuing in China, Singapore, Kuwait and Qatar to sell stakes in their banks to sovereign wealth funds (SWFs) from these countries…”

You can find it here. From the perspective of SWFs, the paper really gets going around page 20.

Enjoy your weekend.

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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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