28th April, 2021
The sale of a 1% stake in Saudi oil giant Aramco could see the Kingdom’s sovereign wealth fund PIF take a slice of the proceeds to fund domestic mega projects.
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26th April, 2021
The Abraham Accords Peace Agreement, brokered by President Trump in September 2020, is opening new avenues for Abu Dhabi sovereign wealth fund Mubadala to invest in Israel.
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29th March, 2021
The attack on Palma in northern Mozambique last week killed dozens and delivered a blow to the country’s plans to develop its gas reserves, which are central to the government’s plans for a sovereign wealth fund.
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17th March, 2021
Mexico felt the economic blow of draconian containment measures to tame soaring death rates – and a corresponding hit to public finances. Faced with a choice of borrowing, raising taxes or tapping into stabilization funds, Mexico opted for digging into its rainy-day fund.
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23rd February, 2021
The China Investment Corporation (CIC) and the Silk Road Fund are among a range of investors bidding for a US$10 billion stake in Saudi Aramco’s oil pipelines.
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1st January, 2021
Saudi Arabia is a rapidly-changing nation – especially its economic and financial landscape. The roadmap for this change is contained in the Vison 2030 program, which was announced in 2016 and aims to add diversification to the Kingdom via infrastructure, tourism, technology and health. Well until 2015, very few people outside of Saudi Arabia had heard about the Public Investment Fund (PIF), which was solely focused on the development of the domestic economy.
1st November, 2020
The Libyan Investment Authority (LIA) was established in 2006 to manage surplus O&G revenues. With assets over $67 billion, the LIA is Africa’s largest SWF and has invested in assets such as Banking Hall in London, Juventus FC and Corinthia Group. However, political unrest and division of power in the wake of Gaddafi’s ousting from power had repercussions on the fund, which saw its international portfolio frozen by the UN in 2011. We had the pleasure of finding out more about the LIA’s latest developments with its current Chairman, Dr. Ali Mahmoud.
1st September, 2020
The Fundo Soberano de Angola (FSDEA) was established in 2012 with an initial injection of USD 5 billion from O&G proceeds, which made it (and still is) the largest SWF in all of Sub-Saharan Africa. Since then, the fund has gone through various Governance issues, with the son of the country’s President, José Filomeno “Zenú” dos Santos, acting as its Chairman. On August 15, 2020, after an eight-month trial, Zenú was sentenced to five years in jail for embezzling US$ 0.5 billion from the Central Bank. This could be a second chance for the SWF, despite the significant withdrawals faced during the past 14 months. We had the pleasure of catching up with Miguel Carneiro, former Head of Alternatives Investments at FSDEA and currently a partner at AFC & Partners.