Live Sovereign Wealth Fund Performance

Just for fun, here is the live performance (as converted to equity) of various high-profile sovereign wealth fund investments over the last twelve months:

Related posts:

  1. The Real Trouble with Sovereign Wealth Funds
  2. Performance Persistence at Venture Funds
  3. Fund Managers Under-performance
  4. VC Performance by Quartile and Vintage Year
  5. Andor Capital: The Making of a Hedge Fund Run

Comments

  1. Brent Buckner says:

    Woo woo! The story goes:
    First, US entities sold overvalued debt instruments. Stuff for paper!
    Second, US entities sold overvalued equity instruments. Stuff for less valuable stuff!
    Not being a US entity, I can’t figure out the third act.

  2. Tjemme says:

    The performance is probably measured in USD … so local-currency returns may be even lower (as equity investments are often unhedged).

  3. The Particle says:

    You have to bear in mind, these people are investing for the long term. I would say they got in at a good price point on most of the above deals.

  4. CanuckInTheCity says:

    The Carlyle entry is pulling the pricing data for Calgon Carbon (NYSE:CCC). The Carlyle mgmt company that Abu Dhabi bought into isn’t public (yet anyway) – their troubled fund in Amsterdam however, is (CCC.AS on YHOO).
    http://www.ft.com/cms/s/0/f9bae8ba-679e-11dc-8906-0000779fd2ac.html
    Not all of these investments are in the common either, so these declines probably overstate the M2M loss. Look at it as investing in the convertible pref of a startup with some bells and whistles rather than the common at the same valuation.
    A lot of smart guys in the PE world have had poor short-term timing recently as well – MBI and Warburg is the first one that comes to mind. Still too early to tell what happens in the long term, IMHO.

  5. Anon says:

    There is an old saying that long term investments are really short term trades gone bad. As for MBIA/Warbourg I cant imagine how supposedly smart people were taken for a ride: Buffet had a look and only wanted to buy the good stuff, why Warbourg bought the whole lot is beyond belief.

  6. Contrary indicator says:

    Its always to early to tell what happens in the long term!

  7. Andrew says:

    How are you establishing the purchase price? Are you pulling it from a filing or using the share price of an investment date?
    For OZM the amount of the investment reported in the filing was $1.2 billion. The number of shares was 38,138,571. That equals approximately $33.04 per share.
    Andrew