Dubai SWF suspends investments during restructuring

09/11/2009 | Bloomberg

Istithmar World, the sovereign-wealth fund of Dubai, United Arab Emirates, is stopping all investments, and sale of the fund is under consideration. The fund's two chief investment officers, John Amato and Felix Herlihy, are expected to resign, and CEO David Jackson also might be ousted. The fund spent more than $25 billion in investments, but many of those, such retailer Barneys New York, have suffered during the recession and run up debt.

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