Tuesday, February 26, 2008
The U.S. Treasury Dept. met with two of the largest SWFs -- the Abu Dhabi Investment Authority ($900 billion in assets) and the Government Investment Corp. of Singapore ($300 billion in assets) -- as part of discussions to encourage SWFs to adopt "best practices" that would increase their transparency. In addition, it is hoped that the SWFs will not use their investments for political advantage. At a time when U.S. businesses need their investments, these measures are designed to ward off tougher measures from Congress. Overall, SWFs have $3 trillion in assets. WSJ, U.S. Pushes Sovereign Funds
To Open to Outside Scrutiny.