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Sovereign Wealth Funds Briefing - Categorized | Investment, Market, Trends

Abacus signs agreement with sovereign wealth fund to pursue large oil acquisitions

Posted on 14 October 2010

From Edmontonjournal.com: Toronto-based Abacus Private Equity announced Wednesday it has signed a deal with a sovereign wealth fund client to find and purchase oil or oilsands companies or assets worth $1-billion-plus.
Chief investment officer Jean-Marc Bougie said the partnership deal will allow Abacus to buy in on the resulting purchase or joint venture agreement at a lower level than that taken by the sovereign fund. “We have an agreement with a sovereign wealth fund — so effectively extremely deep pockets — and the mandate we have with them is to identify $1-billion-plus oil plays where the objective would be to either take a participation or outright purchase of the entities or assets,” he said……………………………………….Full Article: Source

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