Apr 28, 2008
| Last Updated
Andrew England writes in the Financial Times about a new sovereign fund that Saudi Arabia is close to approving and about the public investment fund (PIF), a domestically focused holding company of which it will be a subsidiary. The fund will start small, with capital of under $6 billion and will have separate management from the public investment fund, its parent. While details are limited, the fund will be a portfolio investor - Mansour al-Maiman cites Norway's pension fund and Singapore's GIC as models. I see it also as being an example of the trend in GCC countries to create new[...]
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