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Sovereign Wealth Funds Briefing - Categorized | Research, Trends

Sovereign Wealth Funds Uplift Muslim World with Fajr Capital

Posted on 02 May 2016

Fajr - Arabic for “dawn,” to symbolize hope - has a modest $700 million in capital, but its founding shareholders have much deeper pockets. Three sovereign wealth funds - the $111 billion Abu Dhabi Investment Council, Brunei Investment Agency, the sovereign fund of the oil-rich Southeast Asian sultanate, and Malaysia’s $35 billion Khazanah Nasional - joined forces with Mohammed Alsubeaei & Sons Investments Co. (MASIC) to create and nurture the young firm.
Fajr is a union of institutions that have high credibility and share the same values, says Ihsan Bafakih, CEO of MASIC. According to a 2015 report published by Spain’s ESADE business school, the 36 sovereign wealth funds based in Muslim countries account for 46 percent of the estimated $7 trillion in global sovereign wealth assets………………………………………..Full Article: Source


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