http://www.nytimes.com/2007/11/27/business/27citi.html?ex=1353906000&en=25d0eaeb014cd7ba&ei=5088&partner=rssnyt&emc=rss"So-called sovereign wealth funds in the Middle East have been on a shopping spree in recent months, taking advantage of energy dollars at a time when the American dollar has fallen sharply.
Earlier this week, Dubai International Capital, a private equity company owned by the ruler of Dubai, bought a minority stake in Sony. Borse Dubai, the government-controlled exchange, agreed to take a 19.9 percent stake in the Nasdaq and to buy Nasdaq’s 28 percent stake in the London Stock Exchange.
The Abu Dhabi government owns a 7.5 percent stake in the Carlyle Group, and Istithmar, an arm of the Dubai government, bought one of fashion’s crown jewels: Barneys New York. "
Topic: Citigroup sells stake to oil-rich investment firm (Read 1233 times)