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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

SWFs under threat from tumbling crude

Posted on 30 October 2008

From Contrarianprofits.com: The plummeting price of oil could cause another source of capital to dry up: the Sovereign Wealth Funds (SWFs) of the Persian Gulf. This could be another blow for global credit markets.

These oil-rich funds fueled with petrodollars invested trillions over the past few years, notably with high-profile infusions of billions in CitiGroup, Carlyle Group, Merrill Lynch and the Nasdaq Stock Market. Now with oil down more than 50% from near $150 a barrel in July, the Persian Gulf is beginning to suffer from its own credit squeeze…… Full Article: Source


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