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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

It was a mistake to invest in F1, says world’s largest sovereign wealth fund

Posted on 12 March 2014

Norway’s $840bn oil fund voices concerns over F1 owner Bernie Eccleston’s upcoming corruption trial. Norway’s $840bn oil fund, the world’s largest sovereign wealth fund, has admitted that investing in Bernie Ecclestone’s Formula One Group was a mistake.
In May, the fund paid $1.6bn for a 21.3pc share of the group in a consortium with two other funds, BlackRock and Waddell & Reed Financial. “Yes, we have made a mistake,” fund director Yngve Slyngstad told the business daily Dagens Naeringsliv, suggesting the fund may try to offload its stake………………………………………..Full Article: Source


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