Tuesday, 5 May 2015
Last updated 5 hours ago
Oct 24 2013 | 9:38am ET
Sovereign wealth funds have flocked to hedge funds in recent years—but not that of Oman.
The oil-rich Arabian country's US$6 billion Oman Investment Fund plans to invest in emerging market stocks and real-estate in stable countries, but won't be hiring any hedge funds. In his first interview in at least seven years, OIF CEO Hassan Al Nabhani told Bloomberg News, "hedge funds are not transparent enough in their strategies and the risk they take do not compensate for the returns and the fees they charge."
Al Nabhani said that OIF manages most of its money internally, and hires outside managers only where it would be too "resource-intensive" to do the work in-house. The SWF does employ a "handful" of outside private-equity managers, he said.
"The bulk of our portfolio comprises direct private-equity investments," he said.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…