Why sovereign funds could be at risk in a downturn
State investors are increasingly fronting up debt, as well as equity, for the private deals they are doing. This is raising questions, especially with a downturn widely forecast.

The rising trend for sovereign wealth funds (SWF) to make direct and co-investments in private deals is raising concerns about the level of debt these institutions are taking on – particularly with a global economic downturn widely forecast in the next two years.
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