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Sovereign Wealth Funds Briefing - Categorized | Market

Pressure grows on Istithmar

Posted on 11 December 2009

From Zawya.com: Istithmar World, the Dubai sovereign wealth fund and the private equity arm of Dubai World, the debt-laden conglomerate, is coming under increasing pressure from creditors as it loses control of key assets and breaches loan covenants.

Spurred by its ambitious parent company, the private equity firm went on a multi-billion dollar acquisition spree, snapping up assets such as Barneys, the New York retailer, the Queen Elizabeth II ocean QE2 cruise liner, Cirque du Soleil and trophy real estate in London and New York………………………………Full Article: Source

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