More on sovereign wealth funds
Last month, Euromoney wrote in its cover story that, “with stock markets in Europe and the US tumbling, credit markets in dislocation and M&A activity drying up, the influence of sovereign wealth funds will become even more apparent“.
Just how apparent was illustrated within days when sovereign funds in Asia and the Middle East helped to bail out Citi, Morgan Stanley and UBS through cash injections totalling a combined $22.5 billion. Just before Christmas, Merrill Lynch confirmed a $5 billion investment from Singapore’s Temasek.
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