Political knots bind sovereign funds trying to beat the market | Financial Times:
Nicolai Tangen and Yasir al-Rumayyan have had tricky summers for different reasons.
Mr Tangen, a successful hedge fund manager in London, is on the verge of taking over as head of Norway's $1tn sovereign wealth fund. But a big political row has broken out over his alleged conflicts of interest.
Mr Rumayyan, who runs Saudi Arabia’s $300bn fund, walked away from a deal to buy Newcastle United football club from the British retail tycoon Mike Ashley after struggling to win approval from the Premier League. It turns out that years of brazen Saudi pirating of televised football was not the way to win hearts and minds everywhere.
Both men’s experiences have a common thread. While state-run funds are becoming more influential, managing them remains riddled with complexity.
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