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Citadel Hires Bernanke as Senior Adviser

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Photo Credit: Federal Reserve

Photo Credit: Federal Reserve

Former Federal Reserve Chairman Ben S. Bernanke has agreed to advise Citadel, a hedge fund founded by billionaire Kenneth C. Griffin. Bernanke was the face of the Federal Reserve for eight years, spanning February 2006 to January 2014. During his tenure at the central bank, he presided over the 2008 global financial crisis, an enormous U.S. taxpayer-funded government bailout of the financial industry and the prolonged recession riding years after 2008. Using all available “magic” bullets, Bernanke was involved with providing accommodative monetary policy to stave off a global depression. The quantitative easing (QE) policies by the Fed and now European Central Bank (ECB), have rattled the asset allocation and return expectations of sovereign wealth funds, pensions and other institutional investors.

Bernanke isn’t the first Fed official to advise hedge funds.

“We are honored to welcome Dr. Bernanke to Citadel,” said Ken Griffin in a press release. “He has extraordinary knowledge of the global economy and his insights on monetary policy and the capital markets will be extremely valuable to our team and to our investors.”

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Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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