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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

Gulf bankers looking for targets

Posted on 08 July 2011

Gulf Arab bankers, hit by a dearth of deal flows so far in 2011, are hoping sovereign wealth funds will drive a second-half rebound powered by a buoyant oil price and an easing in political tensions.
The state-owned funds, allocators of the state’s excess investment capital, have benefited from a 20 per cent surge in crude over the past year. “Most of the sovereign wealth funds in the region are very liquid and there have been few large deals in the first half,” said Waleed El-Amir, Middle East North Africa investment banking head at Bank of America-Merrill Lynch. “We should see volumes pick up considerably in the second half.”………………………………………Full Article: Source


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