Latest news with #sovereignwealthfund
Bloomberg
3 days ago
- Business
- Bloomberg
Bravo Partners With Middle East Investor on US Property Loans
Bravo Property Trust, a real estate credit investment platform, signed an agreement with a Middle Eastern investment manager to finance $400 million of property loans in the US. Bravo signed an agreement with a Middle Eastern asset manager that oversees sovereign wealth fund capital, according to a statement that didn't name the investor. The capital will be deployed across whole loan bridge, construction and stabilized apartment and healthcare-property deals.
Bloomberg
4 days ago
- Business
- Bloomberg
Dalio Won't Join Indonesia Fund as Adviser in Blow to Prabowo
Ray Dalio won't be an adviser to Indonesia's new sovereign wealth fund Danantara, people familiar with the matter said, just two months after officials announced the billionaire's involvement. The founder of Bridgewater Associates opted not to be on Danantara's advisory board even as the fund publicly touted his appointment along with four other prominent business and political leaders in March, said the people, asking not to be identified discussing a private matter. The reason wasn't immediately clear.
Bloomberg
4 days ago
- Business
- Bloomberg
AI-Work Pressure Mounts for European Financiers
Get caught up. By Save Still not using artificial intelligence on the job? You better be soon, at least if you count among the 670 financiers working at Norway's $1.8 trillion sovereign wealth fund. 'It isn't voluntary to use AI or not,' Norges Chief Executive Officer Nicolai Tangen told us in an interview. 'If you don't use it, you will never be promoted. You won't get a job.' The executive, who's already frozen hiring, expects AI to boost efficiency across the asset-management industry. Some bankers expect the technology to transform the global economy just as the steam engine did during the 19th century.
Bloomberg
4 days ago
- Business
- Bloomberg
Norway Wealth Fund Chief Tells Staff That Using AI Is a Must
Chief Executive Officer Nicolai Tangen sees no future at Norway's $1.8 trillion sovereign wealth fund for employees who resist using artificial intelligence in their jobs. Tangen, who recently told lawmakers in Oslo that the technology can help keep the fund's headcount from growing in the near future, says he has been running around 'like a maniac' since 2022 to convince his roughly 670 staff to use AI.
Japan Times
7 days ago
- Business
- Japan Times
Softbank's Son floats idea of U.S.-Japan sovereign wealth fund, report says
SoftBank founder Masayoshi Son has proposed setting up a U.S.-Japan sovereign wealth fund aimed at making large investments in technology and infrastructure, the Financial Times reported, citing three unidentified people close to the situation. Son has discussed the plan with U.S. Treasury Secretary Scott Bessent, although it hasn't been formally proposed, the report said. The joint fund would likely need about $300 billion in initial capital, with significant leverage, to be effective, one person told the FT. According to the report, the fund would be jointly owned and run by the U.S. Treasury and Japan's Finance Ministry, with each holding a significant stake. The fund could also be opened to limited partner investors, potentially offering retail investors in Japan and the U.S. a chance to participate. Bessent has been looking for revenue streams for the Treasury that don't involve raising taxes, and the fund could potentially provide a solution, a person briefed on the situation said. A Treasury spokesperson and Softbank declined to comment.
