Sovereign wealth funds search for new investments | Financial Times:
Elon Musk’s “take Tesla private” tweet after securing a deal with Saudi Arabia’s Public Investment Fund caused a stir. It also brought sovereign wealth investment funds back into focus.
The funds, spanning about 50 nations, have $7tn in assets, according to the Sovereign Wealth Fund Institute. They are shareholders in some of the largest companies including Apple, Uber and Nestlé, and China has the largest sovereign wealth assets — $2.2tn across five funds.
About half of the funds by assets are from the Middle East. But with oil prices lower over the past few years and the emergence of US shale, a lack of new discoveries and the shift to renewable energy, the funds face an uncertain future.
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