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Four Mediterranean sovereign wealth funds join forces to make co-investments

Source: Econostrum
Date: 29 March 2022
Four Mediterranean countries have launched a foundation of sovereign wealth funds from Europe, the Middle East and North Africa on Tuesday 29 March 2022 in Malta. The idea was born during the Med 7 Summit in 2019 in Malta from a discussion between the French President and the Maltese Prime Minister. It is now taking shape with a signature between Malta Government Investments (MGI) – which led the work to set it up – the French public investment bank and The Sovereign Fund of Egypt (TSFE).

« This network of sovereign wealth funds in the region will discuss and share co-investment opportunities, »commented Herald Bonnici, Managing Director of MGI.

The Compañía Española de Financiación del Desarrollo (COFIDES) has also initialled a memorandum of understanding with these three SWFs to become a member of this new network which will be based in Malta. « They are currently key financial players thanks to their stabilising role through medium and long-term investment strategies. COFIDES is also an active member of the International Forum of Sovereign Wealth Funds (IFSWF) and the One Planet Sovereign Wealth Funds network, » says José-Luis Curbelo, President of COFIDES.

Read the full article on the econostrum website