Sovereign wealth funds must use their financial strength
A public warning by Norway’s wealth fund for LSE not to lower its listing standards for state companies should be an example to other investors.
Sovereign wealth funds (SWFs) enjoy many advantages, but among the keenest is their sheer power.
These are some of the world’s wealthiest and smartest investors. If they offer a warning it carries weight, given the (usually implicit) threat that they can use their assets to punish.
It’s an advantage most choose to use discretely. But on October 18, Norges Bank Investment Management (NBIM), operator of the world’s largest wealth fund, decided to go a little louder. It publicly de…
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