Economist and money advisor Ed Yardeni has a nice table in his latest newsletter on the buying spree by the sovereign wealth funds. This is only the beginning.
1) CIC made a $5 billion investment in Morgan Stanley.
2) Merrill Lynch received a $5 billion cash infusion from Singapore’s state-owned Temasek Holdings.
3) ADIA bought a $7.5 billion stake in Citigroup.
4) China’s government-controlled Citic Securities paid $1 billion for 6% of Bear Stearns, which invested the same amount in the Chinese investment bank.
5) UBS boosted its capital base by $11.5 billion from Government of Singapore Investment Corp. and an unidentified Middle Eastern investor by selling them bonds that will convert into shares.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
