Demand for infrastructure investment continues to ramp up amid growing commitments to a low-carbon future and rapid economic growth in developing countries. The nature of this “scaling up” challenge requires capital that governments cannot provide alone, necessitating the utilization of private capital. Institutional investors collectively possess the financial resources ($16 trillion in “direct” investment capacity)… Read More »
The idea that industrial policy is back in vogue has become something of a cliché in recent years. Joseph Stiglitz, the Nobel Prize winning economist, and Justin Lin, a former Chief Economist of the World Bank, were onto the trend early, arguing in 2015, “today, the relevance and pertinence of industrial policies are acknowledged by… Read More »
In a new paper, we show with a large sample of international data that sovereign wealth funds (SWFs) earn lower returns and are slower to fully liquidate their positions relative to other types of institutional investors. The data comprise 538 SWF investments in venture capital, private equity, and real asset funds from 52 countries from… Read More »
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