05.02.2009 - While buy-out groups struggle, SWFs retreat
From FT: We could not confirm recent estimates that the region as a whole has $3.5 trillion in external assets (counting private assets, including the undoubtedly large private assets of the al-Saud family), or the $800-$900bn estimates of ADIA’s size. We are more comfortable with an estimate of $2 trillion in total GCC external assets and an estimate of $650bn for ADIA [the Abu Dhabi Investment Authority]. Now, KIA is hurting, having acknowledged big paper losses in its investment in Citigroup, saying last September it had lost $270m. .... Full Article: Source