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Sovereign Wealth Funds Briefing - Categorized | Market

IDB joins $1 bln fund with Saudi, Qatari groups

Posted on 16 August 2010

From israelidiamond.co.il: IDB Holding Corp will launch a $1 billion fund with Credit Suisse Group AG and two groups from Saudi Arabia and Qatar that will invest in emerging markets. The other two Credit Suisse shareholders in the fund are the Saudi Arabian investment firm Olayan Group, a private multinational enterprise comprising 50 companies and affiliated businesses, and the Qatar Investment Authority (QIA), a sovereign-wealth fund.

“We see a great potential in the emerging markets, which constitute a long-term growth engine for the global economy,” IDB Chairman Nochi Dankner said. “The intensification of the emerging markets is part of a significant financial-political process occurring throughout world, of which the financial crisis was but one of its peaks, where the economic hegemony is gradually shifting from the West to the East…………………………………….Full Article: Source

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