20.09.2010 - GM to leave America's sovereign debt fund for SWF's?
From Peureport: The American government, deep in hock, owns 60% of General Motors. GM plans an independent public offering (IPO) under the new leadership of Daniel Akerson, formerly of The Carlyle Group. Carlyle is part owned by CalPERS, a pension fund, and Mubadala Investment Company, a sovereign wealth fund from the United Arab Emirates. Reuters reported international interest in GM's upcoming IPO. China's state owned car company, SAIC, wants a single digit ownership stake in GM. SAIC and GM have a 13 year relationship. Other "cornerstone investors" could include state owned sovereign wealth funds (SWF), many fueled by oil money. Ackerson is using his SWF contacts to line up investment sales meetings..............................................Full Article: Source
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