Sovereign Wealth Fund Competition
Sovereign Wealth Funds and Hedge Funds Compete for Assets
While external money currently accounts for just a small part of total assets of the wealth funds, state investors from Abu Dhabi and Singapore now view clinching mandates from pension funds and family offices as part of their business, putting them in direct competition with private sector managers.
"In the medium term -- a five-year time horizon -- the largest and top-performing multi-strategy funds in the world might well be those run by sovereign wealth funds, and not by the traditional and best known players in the hedge fund space," said Aureliano Gentilini, Lipper's global head of hedge fund research.
Even China Investment Corp (CIC) , a relatively new sovereign fund unlike its Middle East counterparts, is getting into the act through CITIC Capital, which last month raised $925 million for a China buyout fund. Source
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