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Istithmar To Freeze Investments

Two chief investment officers are also to leave the firm

After spending close to $25 billion over the past decade, Istithmar World, the Dubai sovereign wealth fund, is planning to halt investments as part of restructuring eforts – reported Bloomberg.

David Jackson, who runs the fund, had said to the news agency that co-chief investment officers, John Amato and Felix Herlihy, would leave the firm and the restructuring may result in a sale of the fund or its assets.

Reportedly, Istithmar and its parent, Dubai World, have struggled on investments this year. Victoria Barbary, a senior analyst at Monitor Group in London, said: “They need to decide whether to keep Istithmar as a sovereign wealth fund or to clip its wings, roll it up and have it cease to exist independently. With Dubai World’s broader problems, it would not be surprising if Istithmar was rolled up.”