Wednesday, November 6

Tag: sovereign wealth funds

Finance, Investing, Types of News: Brief

State-Owned Investment Funds Seek Bargains in COVID-19 Economic Crisis

May 18, 2020-Even as governments and the private sector around the world face economic devastation caused by the COVID-19 pandemic and the related shutdown of economies, some state-owned investment funds have been busy looking for bargains in the stock market. Saudi Arabia's Public Investment Fund purchased $7.7 billion worth of stocks in the United States and Europe during the first three months of 2020. Purchases included a $827.8 million stake in BP, a $714 investment in Boeing, and purchases in Facebook, Bank of America, Citigroup, Walt Disney, Marriott, Pfizer and Starbucks, according to reporting by the Financial Times. And last month, it invested $500 million in the Los Angeles entertainment company Live Nation. The PIF is the tenth-largest sovereign wealth fund in the world....

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