Assets under management by public funds, including sovereign wealth funds and sovereign pension funds, continues to grow at a strong pace. As funds grow larger and new sovereign funds come into the market, the identification of suitable investments in an increasingly crowded marketplace become...

Under an Arrowian framework, centralized authority and management provides for optimal decision making in large organizations. However, Kenneth Arrow also recognized that other elements within the organization, beyond the central authority, occasionally may have superior information or...

Sovereign wealth funds (SWF) have largely proven to be the gentle giants of the financial markets; they tend to be relatively patient, passive shareholders. In contrast to other activist hedge funds, when SWFs do engage with companies, they tend to work behind the scenes to maximize value for...

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) has raised the stakes for financial regulation by requiring more than twenty federal agencies to promulgate nearly 400 new rules. Scholars, regulated entities, Congress, courts, and the agencies themselves have all...

This Article considers various factors affecting the competitiveness of U.S. capital markets in comparison to foreign markets as offered in recent reports by the Committee on Capital Markets Regulation, McKinsey & Co. (commissioned by the City of New York), and the U.S. Chamber of Commerce. We...

In an era of ascendant globalization, sovereign wealth funds were used by governments around the world—and in particular by governments with massive natural resource wealth or balance-of-trade surpluses—to invest widely in foreign markets. Sovereign wealth funds were products of the...