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Record Gulf Funds Pour Into Global Deals as Liquidity Dries Up

  • Mubadala, PIF, others are being able to cherry-pick assets
  • The latest round of investments marks a significant evolution

When liquidity evaporated from world markets in 2008, the Gulf’s richest monarchies stepped in to lap up everything from stakes in western lenders such as Citigroup Inc. to trophies like the Manchester City Football Club and Harrods. They’re at it again. 

Flush with cash from a commodity boom, the region’s biggest sovereign funds -- which control more than $3 trillion in assets -- are pouring billions of dollars into global deals, playing funders of last resort for companies in a volatile market.