News

ADIA exec calls for joint deals from sovereign funds

Global cooperationAn executive at the Abu Dhabi Investment Authority (ADIA) has called for greater cooperation between the world’s largest sovereign wealth funds (SWFs). Majed Al Romathi, executive director of the real estate and infrastructure department at ADIA, made the comments ahead of his appointment as new chairman of the International Forum of Sovereign Wealth Funds (IFSWF), the industry body for SWFs. “With their long-term mandates, SWFs are natural investment partners,” he told the IFSWF annual conference. “There are many examples where this has already happened, but I believe we are still only touching the surface when it comes to opportunities for joint investments.” Sovereign wealth funds account for more than $8 trillion of assets however there have been few joint investments between state-owned funds. Recent exceptions are the joint industrial investment fund established by Russian and Chinese sovereign investors in June and the joint venture funds set up by Ireland’s SWF and the Chinese Investment Corporation. The call for more joint ventures between SWFs comes amid concerns over growing economic protectionism. The institute was formed in 2008 to promote the Santiago Principles, which were devised to convince governments that such state-backed funds are commercial and not political investment vehicles. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.