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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: sovereign wealth funds

sovereign wealth funds stories: 16 news summaries

China May Invest in
Bargain US Real Estate 

Sovereign-wealth fund to ramp up spending after quiet 2008

Sep 8, 09 4:11 PM CDT
(Newser) - China’s sovereign-wealth fund has its eyes on US real estate, the Wall Street Journal reports. China Investment Corp. laid low throughout 2008 as the global economy teetered but is now opening its coffers. And depressed US commercial property values—off 35% from their peak—coupled with cheap government... More »

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China • real estate • United States • recession • private equity firms • sovereign wealth funds • China Investment Corp • property values

 Feds Look for 
 Privately Funded 
 $1T Bailout 

Geithner talks up private capital ahead of today's announcement

Mar 23, 09 5:37 AM CDT
(Newser) - The Treasury today unveils its three-part public-private plan to purchase $1 trillion in troubled assets, offering lucrative subsidies to private investors to encourage them to participate. The Obama administration spent the weekend wooing hesitant private investors—hedge funds, private equity firms, and sovereign wealth funds—who fear future regulation or... More »

MORE ABOUT:
Barack Obama • private equity • sovereign wealth funds • hedge funds • Obama administration • financial crisis • Timothy Geithner • TALF

Bailout Czar Kashkari Joins World's Big Money Elite

After brisk rise through Treasury, 35-year-old has purse to rival largest sovereign funds

Oct 7, 08 1:01 PM CDT
(Newser) - A behind-the-scenes player at the Treasury Department just weeks ago, 35-year-old Neel Kashkari’s financial heft as the agency’s bailout czar puts him on par with the heads of sovereign wealth funds, Politico reports. The self-described “free-market Republican” enjoyed a meteoric rise through the department, where he was... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Abu Dhabi Investment Authority • sovereign wealth funds • bailout • Neel Kashkari

 Sovereign Funds, Foreign 
 Leaders Sitting Out Bailout 

Sovereign wealth funds, foreign leaders say US needs to sort out own mess

Sep 25, 08 9:23 AM CDT
(Newser) - Sovereign wealth funds that were eager to snap up US assets earlier this year are staying on the sidelines now, as the US crafts a massive financial rescue plan aimed at breaking up the logjams that have frozen credit markets, the Washington Post reports. Despite pleas from Treasury Secretary Henry... More »

MORE ABOUT:
Citigroup • Federal Reserve • sovereign wealth funds • China Investment Corp • Kuwaiti Investment Authority

Secret Lehman Sale Talks Fail

South Korean, Chinese investors balk at hefty $5B price for half
of troubled bank

Aug 21, 08 9:48 AM CDT
(Newser) - Secret talks earlier this month to sell up to half of struggling US investment bank Lehman Brothers to South Korean or Chinese buyers fell apart after last-minutes squabbles over details, the Financial Times reports. The bank, which is expected to announce up to $4 billion in writedowns next month, was... More »

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Lehman Brothers • credit crisis • Citic Securities Co. • writedowns • sovereign wealth funds • subprime crisis • investment banks • Korean Development Bank

ANALYSIS

Weak Dollar Scaring Off Foreign Funds

US policy has big China, Gulf spenders looking to divest

Jul 17, 08 4:18 PM CDT
(Newser) - With the dollar declining and US economic outlook uncertain, some large sovereign wealth funds are looking to cut down on greenbacks, the Financial Times reports. One such Persian Gulf fund has cut its dollar-denominated investments from 80% to 60%, and China’s State Administration of Foreign Exchange is aggressively exploring... More »

MORE ABOUT:
China • inflation • Abu Dhabi • investment • weak dollar • Abu Dhabi Investment Authority • sovereign wealth funds • divestment • State Administration of Foreign Exchange

Petrodollars Snap Up Americana

Foreigners 'recycle' bucks with trophy buys
like Chrysler Building

Jul 10, 08 4:33 AM CDT
(Newser) - Foreign investors flush with dollars from the global commodities boom are using those greenbacks to buy flashy American properties, the New York Times reports. The government of Abu Dhabi bought a 75% stake in the Chrysler building Tuesday. Other recent "trophy" buys have included Donald Trump's Palm Beach mansion... More »

MORE ABOUT:
foreign investment • Abu Dhabi • USA • petrodollar • Chrysler Building • Abu Dhabi Investment Authority • sovereign wealth funds

Barclays Seeks $7.8B From Sovereign Wealth Funds

UK bank's stock soars as investors support plan to recapitalize

Jun 16, 08 7:40 AM CDT
(Newser) - The UK’s fourth-largest bank, Barclays, is looking to raise capital by issuing $7.8 billion in new equity, underwritten by sovereign wealth funds, the London Times reports. The announcement sent shares soaring in trading today. Barclays has been rumored for weeks to be considering a cash infusion, joining a... More »

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Barclays • equity • credit crisis • writedowns • sovereign wealth funds

$6B From Outside Investors Will Shore Up Wachovia

Bank selling discounted shares to combat credit crunch

Apr 13, 08 10:48 PM CDT
(Newser) - Ailing bank Wachovia will get a $6 billion-$7 billion shot in the arm from outside investors, the Wall Street Journal reports. Specifics of the capital infusion, designed to help the company recover from the credit crisis, haven’t been finalized. Details may be revealed when the company reports first-quarter... More »

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Wall Street • Wachovia • credit crisis • Washington Mutual • mortgage loans • private equity firms • sovereign wealth funds • Golden West

Banks Need to 'Fess Up on Risk: G7 Panel

Forum of regulators says transparency needed to end crisis

Mar 29, 08 5:14 PM CDT
(Newser) - Top financial regulators today challenged banks to come clean about risks they face, the Wall Street Journal reports. The Financial Stability Forum, a worldwide team of financial honchos—including several central bank chiefs—concluded that “hording of liquidity” was leading to “severe strains” in the lending market. Only... More »

MORE ABOUT:
hedge fund • central bank • credit market • sovereign wealth funds • credit market chaos • transparency

 Sovereign Funds 
 Agree on Conduct 

Treasury's Paulson works deal on keeping investment from crossing political bounds

Mar 20, 08 5:35 PM CDT
(Newser) - Investment funds bankrolled by the governments of Abu Dhabi and Singapore agreed today with US Treasury Secretary Henry Paulson on guidelines aimed at allaying fears of political interference by the sovereign wealth funds, the Wall Street Journal reports. Decisions should be “based solely on commercial grounds," a statement... More »

MORE ABOUT:
International Monetary Fund • Henry Paulson • Singapore • Abu Dhabi • sovereign wealth funds

Spending Spree Puts Abu Dhabi Under Spotlight

After US grabs, officials focus on secretive sovereign wealth fund

Feb 28, 08 3:23 PM CST
(Newser) - When Abu Dhabi's investment arm poured $7.5 billion into Citigroup, to bail out America's biggest bank, the move didn't escape notice in Washington. The world’s biggest sovereign wealth fund has been flexing its muscle, making increasingly aggressive investments  in foreign interests, the New York Times reports. And though... More »

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Citigroup • hedge fund • Abu Dhabi • United Arab Emirates • Toll Brothers • Evan Bayh • Abu Dhabi Investment Authority • sovereign wealth funds

Credit Suisse Cuts Profits $1B on Trader Errors

Trader 'error' prompts bank to take $2.85B writedown; shares plummet

Feb 19, 08 6:58 AM CST
(Newser) - Credit Suisse share prices plummeted 10% today after the bank announced that some traders had overvalued asset-backed securities, prompting the bank to take a $2.85 billion writedown and drop first-quarter profit projections by $1 billion, Bloomberg reports. Switzerland’s second-largest bank suspended the traders and said it would review... More »

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Credit Suisse • Qatar • corporate earnings • banking • bank fraud • financial institutions • sovereign wealth funds • Jérôme Kerviel • Société Générale • subprime crisis • bank scandal

Are Foreign Bailouts
Good for the Economy?

Critics worry rush of overseas cash heralds fundamental

Jan 25, 08 11:30 AM CST
(Newser) - Wall Street firms, battered by the collapsing subprime market, shored by their bottom lines by selling ownership stakes to foreign governments. Although the investments represent a significant change in the US economy, they drew little public criticism and no government intervention. That reaction—or lack thereof—follows years of lobbying... More »

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Wall Street • Citigroup • Merrill Lynch • Dubai • sovereign wealth funds

For Hurting US Companies, World Supplies Band-Aid

In economic sea change, 'we need the money,' one US Rep. says

Jan 16, 08 12:02 PM CST
(Newser) - The subprime collapse has US financial institutions in uncharted waters—asking for help from foreign investors and governments, the Wall Street Journal reports. Citigroup, Merrill Lynch, and Morgan Stanley all have recently sought bailouts, a dramatic switch from a tradition that saw US banks coming to the “rescue of... More »

MORE ABOUT:
China • Saudi Arabia • Japan • Citigroup • subprime mortgages • Morgan Stanley • Merrill Lynch • Singapore • Abu Dhabi • Kuwait • sovereign wealth funds

Merrill's $15B Write-Down Nearly Doubles Estimate

Latest loss, driven by mortgage woes, dwarfs original figure

Jan 11, 08 1:10 PM CST
(Newser) - Merrill Lynch will announce $15 billion in losses stemming from mortgage investments, figure twice its earlier forecast, the New York Times reports. The firm is expected to raise $4 billion quickly from outside investors. New CEO John Thain, who has already sold a $5.6 billion stake to a Singapore... More »

MORE ABOUT:
Charles Schumer • Merrill Lynch • Singapore • write down • John Thain • sovereign wealth funds • subprime crisis

16 Stories


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