The Daily Brief

Ashby Monk

Markets are crashing. What are SWFs saying? Not much. As you know, sovereign funds are long-term investors, which means that they generally (say they) don’t and won’t respond to short-term market volatility. As such, there really isn’t much in the way of market commentary to report this morning. Singapore’s GIC is “closely monitoring” the impacts of the US downgrade. And CIC’s Lau has said that the US downgrade “…does not contain any new information or tell us anything we don’t know.” But that’s really about it.

So we’ll have to make do with the regularly scheduled Daily Brief programming…

  • CIC will likely take a 30% stake in GDF Suez for $4.3 billion (Et le voila pour les francophones parmi vous.)
  • Abu Dhabi’s Mubadala is touting its new Sowwah Island financial center.
  • Qatar Investment Authority (via its sub Qatari Diar) will most likely take over London’s Olympic Village after the games.
  • Paulson & Co. defeat Singapore’s GIC in court battle over luxury hotels.
  • Mubadala is hosting a football tournament in Abu Dhabi.

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About

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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