The Hunt for Unicorns: How Sovereign Funds Are Reshaping Investment in the Digital Economy
Winston Ma, "The Hunt for Unicorns: How Sovereign Funds Are Reshaping Investment in the Digital Economy"
English | ISBN: 1119746604 | 2021 | 384 pages | EPUB | 5 MB
English | ISBN: 1119746604 | 2021 | 384 pages | EPUB | 5 MB
Who holds the power in financial markets? For many, the answer would probably be the large investment banks, big asset managers, and hedge funds that are often in the media's spotlight. But more and more a new group of sovereign investors, which includes some of the world's largest sovereign wealth funds, government pension funds, central bank reserve funds, state-owned enterprises, and other sovereign capital-enabled entities, have emerged to become the most influential capital markets players and investment firms, with $30 trillion in assets under management ("super asset owners").
Their ample resources, preference for lower profile, passive investing, their long-time horizon and adherence to sustainability as well as their need to diversify globally and by sector have helped to transform the investment world and, in particular, private markets for digital companies. They have helped create and sustain an environment that has fostered the rise of the likes of Uber, Alibaba, Spotify and other transformative players in the digital economy, while providing their founders and business models the benefit of long-term capital.
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