Sovereign Wealth Funds Taste Bitter Losses
Not long ago the Western world was obsessed with sovereign wealth funds, those fast-growing pools of nationally owned assets fueled by oil money and trade surpluses. The fear was that they and their sometimes controversial owners would gobble up vast troves of trophy assets in the U.S. and elsewhere. But, after a brutal fall in the markets, that threat suddenly looks a lot less real. While the funds are cagey about saying what they actually own—and what they have lost—it's certain that they, like many other investors, have suffered big hits to their portfolios. They also have clearly lost firepower—and possibly some of their appetite for acquisitions.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.