The Daily Brief

This blog is moving. Not to worry: same blogger; same content; same price (free).

Today’s news of note:

  • The China Investment Corporation has named its new Board member to AES Corporation: it is the current Vice Chairman of the Chinese National Development and Reform Commission.
  • 20% of Iran’s National Development Fund, or around $5.4 billion, is allocated to foreign investments.
  • This FT story about ‘Zombie Funds’ is a reminder of how bad private equity can be. Ugh.
  • The China Investment Corporation has 60% of its assets invested in the US of A.
  • Mubadala’s JV with Dubai Aluminium (called Emirates Aluminum) is about to invest $3.8 billion, which will make it the single largest greenfield smelter.
  • Nigeria’s Governors have offered a single condition for accepting the federal government’s new sovereign fund: voluntary participation. In other words, they’ll say yes now if they can say no later. I’m not sure that’s going to cut it.
  • How does ADIA encourage students to work hard? Cash incentives. Only difference between the Abu Dhabi policy of paying for good grades and my parents’ policy from my junior year of high school: two zeros at the end of the number.

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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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