The Daily Brief
Today’s institutional investment news of note...
This just in:
- Kazakh President Nazarbayev has publicly fired the head of the country’s sovereign wealth fund Timur Kulibayev. This is absolutely remarkable: 1) He was only appointed in April; 2) He is a titan of Kazakh industry and a billionaire; and 3) he’s married to President Nazarbayev’s daughter; i.e., Nazarbayev just fired his son-in-law! It will be very interesting to get more details on this.
In other news:
- The CIC has invested $245 million in the African investment / holding company Shanduka Group.
- Iraqi Kurdistan is considering a new sovereign fund: the “Next Generation Fund.”
- When Mubadala isn’t investing, it’s organizing football workshops and tennis championships. Cool.
- The CIC is considering investment opportunities in...Leeds and Manchester City. I’m guessing these are much-needed infrastructure investments.