09.03.2015 - Korean and Dubai SWFs pen landmark deal
The sovereign wealth funds (SWFs) of Korean and Dubai have signed an agreement that will see them jointly invest in opportunities around the world, in a rare case of two such institutions opting to directly team up. In a statement, the Investment Corporation of Dubai (ICD), which manages about US$70 billion, said it had signed a memorandum of understanding (MoU) with the Korea Investment Corporation (KIC), which has about $85 billion in assets. The ICD said that the MoU “facilitates communication between the two organisations, while empowering them to jointly explore investment opportunities in the United Arab Emirates (UAE), South Korea and other countries”...............................................Full Article: Source
Print