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:


  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. 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).
    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. 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. 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.