Wednesday, November 28, 2007
The sovereign funds of the Middle East and Asia are working hard to reassure U.S. politicians and the public that they aren't a threat. The Abu Dhabi fund emphasized that its $7.5 billion in Citigroup did not include board representation, and Citigroup officials alerted Senator Charles Schumer about the deal in advance. The funds learned their political savvy the hard way from the Dubai Ports blowup, when politicians viewed the acquisition of U.S. ports by a Dubai-controlled firm as a threat to national security. Meanwhile, investments by the sovereign funds in international business continue to grow. WSJ, Sovereign-Wealth Funds Buy Small Stakes and Keep Quiet, Winning Over Some Skeptics.