Klaus Schmidt-Hebbel, Former Chief Economist, OECD, Professor of Economics, President Advisory Committee on Sovereign Wealth Funds
But Haywayd's visit comes amid reports that BP had been seeking the support of foreign sovereign wealth funds
(SWF) following the collapse of its share price which increased the risk of possible takeover bids by rival companies.
Sovereign wealth funds
in the Gulf region slowed down their investments in Western companies when oil prices started to tumble last year.
The loss of the $2.5 trillion does not include the decrease in market value incurred by the sovereign wealth funds
, many of which have invested heavily in commercial real estate in North America.
To promote better deals, he has helped develop the Sovereign Wealth Fund
Initiative at the Fletcher School.
For example, after receiving a US$3 billion investment from China's sovereign wealth fund
, the CEO of Blackstone wrote an op-ed in the Financial Times warning against any measures to block SWF investment, comparing such steps to the Smoot-Hawley tariff.
The Norwegian sovereign wealth fund
used to be called the "Government Petroleum Fund," but now it is named the "Government Pension Fund--Global." The only thing that has changed is the name: there has been no change in its objectives or in the way the fund is run.
bank or bank holding company by a sovereign wealth fund
would be subject to Federal Reserve approval."
The FT on March 22 quoted US Treasury Assistant Secretary for International Affairs Clay Lowery as saying: "It's the first time to my knowledge that there's been a set of principles on this type of issue that include both sovereign wealth funds
and a recipient country.
In this vein, we have considered two sets of principles: one for sovereign wealth funds
and another for recipient countries of sovereign wealth fund
In preparation for the spring European Council, the Union's finance ministers, meeting at the Ecofin Council on 4 March, adopted conclusions on a suggested code of conduct for sovereign wealth funds
. Proposals for such a code - which is to be voluntary - were put forward by the European Commission on 27 February (see Europolitics 3480).
Singapore's sovereign wealth fund
, GIC, is to take part in a funding round for Germany-based N26.