LOST LOVE: China’s SAFE Investment Company Had Dumped BP Stock
Sovereign wealth funds are also known to invest directly in a number of prominently listed companies in the United Kingdom. For example, the Kuwait Investment Office (KIO), was publicly-recognized for its backing of BP Plc, a global integrated oil and gas major.
BP was no longer a safe bet for China’s SAFE Investment Company, a sovereign entity linked to China’s gargantuan pool of foreign reserves. In 2007, SAFE Investment Company built up ownership stakes in a group of U.K. listed companies including BP. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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